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pcernie
Legend
Joined: Sun Apr 26, 2009 12:30 pm Posts: 45931 Location: Belfast
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_________________Plain English advice on everything money, purchase and service related:
http://www.moneysavingexpert.com/
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Tue Jan 05, 2010 1:17 pm |
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jonbwfc
What's a life?
Joined: Thu Apr 23, 2009 7:26 pm Posts: 17040
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Send in the bailiffs! I'm having Reykjavik! Jon
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Tue Jan 05, 2010 1:56 pm |
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AlunD
Site Admin
Joined: Fri Apr 24, 2009 6:12 am Posts: 7011 Location: Wiltshire
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You are more than welcome to it 
_________________ <input type="pickmeup" name="coffee" value="espresso" />
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Tue Jan 05, 2010 1:57 pm |
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John_Vella
I haven't seen my friends in so long
Joined: Fri Apr 24, 2009 7:55 am Posts: 7935 Location: Manchester.
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And I'm having those little mini-quiche party pack things that I saw in the advert 
_________________John Vella BSc (Hons), PGCE - Still the official forum prankster and crude remarker  Sorry  I'll behave now. Promise 
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Tue Jan 05, 2010 2:26 pm |
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MrStevenRogers
Spends far too much time on here
Joined: Fri Apr 24, 2009 9:44 pm Posts: 4860
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i make the decision right why should the Icelandic taxpayer have to pay for the failure of a 'private' bank
and the if anybody lost any money because of this, sorry and all that but, that's part of the risk in investing overseas especially after the BOE warned about investment in Iceland in 2006/7 …
_________________ Hope this helps . . . Steve ...
Nothing known travels faster than light, except bad news ... HP Pavilion 24" AiO. Ryzen7u. 32GB/1TB M2. Windows 11 Home ...
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Tue Jan 05, 2010 3:33 pm |
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james016
Doesn't have much of a life
Joined: Tue May 05, 2009 5:52 pm Posts: 1899
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A lot of councils also invested in Icelandic banks. So there is millions of taxpayers pounds at stake.
_________________ My Flickr PageNow with added ball and chain.
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Tue Jan 05, 2010 3:38 pm |
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MrStevenRogers
Spends far too much time on here
Joined: Fri Apr 24, 2009 9:44 pm Posts: 4860
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why was our tax money invested overseas when they can't repair the roads or have street lighting switched off because of lack of funds they should be using our tax monies for the purpose that it was intended services for the tax payer not high interest overseas accounts to supply cash for their pensions …
_________________ Hope this helps . . . Steve ...
Nothing known travels faster than light, except bad news ... HP Pavilion 24" AiO. Ryzen7u. 32GB/1TB M2. Windows 11 Home ...
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Tue Jan 05, 2010 3:49 pm |
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Linux_User
I haven't seen my friends in so long
Joined: Tue May 05, 2009 3:29 pm Posts: 7173
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Because charities and local authorities are required to keep some funds in reserve.
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Tue Jan 05, 2010 4:06 pm |
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pcernie
Legend
Joined: Sun Apr 26, 2009 12:30 pm Posts: 45931 Location: Belfast
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That's precisely my concerns over this issue, and no explanations were forthcoming when it hit, never mind now...
_________________Plain English advice on everything money, purchase and service related:
http://www.moneysavingexpert.com/
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Tue Jan 05, 2010 4:09 pm |
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MrStevenRogers
Spends far too much time on here
Joined: Fri Apr 24, 2009 9:44 pm Posts: 4860
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and keeping these funds within the UK would have made them accessible when required or needed and there is a lot more of our taxpayers money invested overseas in country's other then Iceland …
_________________ Hope this helps . . . Steve ...
Nothing known travels faster than light, except bad news ... HP Pavilion 24" AiO. Ryzen7u. 32GB/1TB M2. Windows 11 Home ...
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Tue Jan 05, 2010 4:51 pm |
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Linux_User
I haven't seen my friends in so long
Joined: Tue May 05, 2009 3:29 pm Posts: 7173
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Yes, and in many cases the return on the money has allowed local authorities to invest in services that would not exist otherwise. You can't have it good all the time, sometimes things will go wrong. If you banned local authorities from investing their money then it will not earn any return at all, and thus services will be affected. The only restriction I'd even consider imposing on the investment of public money is that it's only invested within the European Union.
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Tue Jan 05, 2010 6:42 pm |
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MrStevenRogers
Spends far too much time on here
Joined: Fri Apr 24, 2009 9:44 pm Posts: 4860
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since when has 'investment' of taxpayers money ever returned any interest for the taxpayer
investment of taxpayers money is only used to enhance the people who have access to that investment and the interest that is paid for that is not returned to the taxpayer (ie. pension funds)
if that was the case overseas investment funds would have decreased 'council tax' but the reverse is true the more that was taken out of the system and invested overseas the greater the burden that was placed upon the taxpayer
if overseas investments was for the benefit of the taxpayer, the taxpayer would be able to pay less tax …
but sadly as the councils have lost 'loads of money' invested overseas then tax bills will rise, some investment even better, the return on that investment …
_________________ Hope this helps . . . Steve ...
Nothing known travels faster than light, except bad news ... HP Pavilion 24" AiO. Ryzen7u. 32GB/1TB M2. Windows 11 Home ...
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Tue Jan 05, 2010 7:36 pm |
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Linux_User
I haven't seen my friends in so long
Joined: Tue May 05, 2009 3:29 pm Posts: 7173
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Public sector investments DO return money, the money gained goes back to taxpayer through better funded services. We're not talking about enough money to have a significant impact on council tax - councils SPEND most of their budget, believe it or not. It took the annexation of a quarter of the globe to abolish income tax in Britain. Therefore similar maths would apply if you wanted to abolish council tax in your county...
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Tue Jan 05, 2010 10:15 pm |
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forquare1
I haven't seen my friends in so long
Joined: Thu Apr 23, 2009 6:36 pm Posts: 5150 Location: /dev/tty0
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I seem to recall the county of Wiltshire holding something like £10 million in Icelandic bank account. Sorry, I had to share one book between four at school, why was this money held up in some bank account!?
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Wed Jan 06, 2010 12:03 am |
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Linux_User
I haven't seen my friends in so long
Joined: Tue May 05, 2009 3:29 pm Posts: 7173
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Local Authorities are legally required to keep some money in reserve. Secondly, most of their budget goes on staff, not equipment. Thirdly, Wiltshire County Council (before the Unitary Authority took over) spent £300 million in the 2008/2009 financial year (and that's just the county, I have no idea if your £10 million figure also includes the ex-District Councils). Therefore £10 million is not really that much.
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Wed Jan 06, 2010 12:10 am |
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