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veuve

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  1. Am pretty sure Salisbury Street had some provision maybe 5 rooms for Dementia cases as will the proposed new one but both are predominately Care Homes not Nursing Homes like Elder Grange and Springfield Grange but my whole argument concerns the extremely and needless inflated costs. We simply cannot afford this sort of extravagance.
  2. As it was developed privately before the Government bought it from them would the private developer not have had to do some deal with the Government to acquire the site ?
  3. Not disputing the need just the incredible cost especially in comparison to the privately developed Salisbury St one where the build cost must also have included a cost for acquiring the site whereas the Government already owned this site. With all the covad support costs coming out of our NI reserves they are soon going to say they cant pay pensions. They need to be conservative and not produce these grandiose schemes which I bet will also finish over budget just like the Hospital Prom Liverpool steam packet terminal etc etc
  4. https://www.manxradio.com/news/isle-of-man-news/dhsc-seeks-approval-for-11-7m-care-home-construction/ Under current reduced circumstances how can they justify spending this amount of tax payers money on a new 60 bed Care Home (£200,000 per room). The last one was Salisbury Street with 68 rooms built by private developer for about £5.6m but then bought by the Government for £7.9m. Even at £7.9m each room only cost £116,000. Surely the £12m of tax payers money is way over the top and the project cost could be halved - let the Salisbury Street developers do it ! http://www.iomtoday.co.im/article.cfm?id=39372&headline=Taxpayers' cash squandered says care home boss§ionIs=news&searchyear=2018
  5. http://www.bbc.co.uk/news/uk-scotland-scotland-business-23058917 So Inverness have negotiated a five year deal with EasyJet - what are Reynolds and Cretney doing are we last in line as usual ?
  6. We must remember that using Manx Airlines during the 1980's the cheapest return tickets to Heathrow were ITX tickets which should have been combined with a hotel stay or car hire and those were around the £170 mark with other tickets running anywhere from £225 to £400 . People realised that was the price and paid it. Now everyone expects cut price tickets and suddenly we find airlines are pulling out because they are losing money. We live on a small Island and to sustain our air links we have to expect to pay higher prices than on the more mainstream routes such as London to Paris. It is a great shame that our Govt were not brave enough to take over Manx Airlines - i am sure they had the opportunity and the increase in value of its slots would have easily offset any trading losses but as I believe it was profitable when sold that probably would not have been an issue.even recently could the govt not have Purchased at least two pairs of slots from flybe far better use of funds than throwing it at the Sefton. Could then have brought back Terry Liddiard to lease whatever aircraft was needed and charge us a commercial fare sufficient to make it break even If we get stuck with only London access being via the nightmare of Luton or the even more inconvenient Stan stead we will not be seeing any new business heading our way and an awful lot leaving. For people going on holiday it is going to mean the extra expense of overnight stops in London because we will be unable to make same day connections. I hope our minister and Airport director have their begging bowls out and are in deep negotiation with British Airways and Easyjet. It has been very quiet since the BA pull out was announced..............
  7. Well looks like BA timetables are in now. Severely reduced service from IOM to LCY from September 1st with no early morning flights at all. We are going to be marooned on this rock.
  8. veuve

    Bay Festival

    If in fact the 66 by 104 metre tent has been booked and is coming for the Elton John performance surely most of the tent cost is the transport and assembly and that being the case why cant either the Elton John promoters or Irving continue with the Westlife concert. Irving I believe at one stage did say the 4500 Westlife tickets on offer had been sold out so they were releasing a final batch ? If he was telling the truth (?) that is £200k + in ticket sales and should be enough to cover the Westlife costs and pay a contribution to the cost of the tent. One must presume that if the tent is coming they have got freight bookings for it already made and therefore the tent could easily still be in situ on Sunday 19th.
  9. There are Banks in the UK that will open accounts for non-residents. HBOS is one and gives rates better than BOSI on Island http://www.bankofscotlandhalifax.co.uk/savings/nonukcustomerrates.asp Unless you open a time deposit of £50k or more which automatically pays gross interest you need to complete an R105 form which allows them to pay gross interest on smaller accounts. There are other Banks that will offer accounts as well such as NatWest, Liverpool Victoria and others. Nationwide of course will not and just refers you back to Nationwide International in Douglas whose rates and range of accounts are far worse than its parent company. You need to bear in mind UK probate and estate tax issues if keeping funds in UK banks
  10. Not true at all. It is extremely difficult for anyone who does not have a UK address to oopen a bank a/c in the UK Just ring up Lloyds Banks HQ for one. Ask for Jane Fowler she will explain this to you. ( and direct you to Lloyds international IOM) It is difficult especially to do it by mail but walk in to any of the Banks in Liverpool with your passport utility bill and cheque book and they will sort you out very quickly. Also a good idea to print off the form for Gross Interest (for a non resident) from HMRC site and take it with you as the banks often do not have the forms handy. I have opened accounts with the UK branches of all the Banks I mentioned. For info here is HBOS site for Non Residents http://www.bankofscotlandhalifax.co.uk/sav...stomerrates.asp
  11. In that case you must live in the UK since only UK residents can bank there. So what's your angle ? Why are you so interested in this story ? It's incredibly crass telling people how much money you've got in your account and completely unnecessary in this context since it adds nothing to your point. Oh - and IOM rates are not significantly higher than UK money market rates currently with the exception of the Irish Banks. It is perfectly possible for an Isle of Man (or any expat) to open Bank Accounts in the UK. The problem is that you have to work at it and not be fobbed off. You can fill in a UK Income Tax form to claim gross interest or fixed term deposits of £50k or more are paid gross automatically. Some banks will try and point you to their Offshore subsidiaries but persevere. Bank of Scotland even has a website for Non Residents which offers rates that are better than those offered by BOSI in the Isle of Man. I know Barclays NatWest Bank of Scotland/HBOS all will take non resident accounts. The problems to be remembered though are that it may be that UK probate would be required should the depositor die and it will be important not to exceed the IHT levels. Nevertheless with Joint Accounts the UK could currently be used for up to £650k spread around in £100k parcels to be safer but the UK is far more likely to support its own banks rather than the Offshore subsidiaries and at the end of the day the UK just prints the money that may be needed. The IOM cannot do that. Incidentally how long will NatWest Offshore (NatWest Coutts IOM Bank) survive as part of RBS and owned by UK Government ? Santander will doubtless be pleased to be given the deposits to manage and bail out the Spanish Property market !
  12. It may be a small Bank in Ireland but it is important news as far as the Island is concerned. We have AIB BOI and also Irish Permanent and Irish Nationwide all having operations on the Island and Licensed by the FSC. It is doubtful if the Irish Government could stand behind all of them and the Irish Depositor Guarantee only kicks in AFTER any local Depositor Protection Scheme has been used meaning that the IOM Scheme (or effectively us as taxpayers) will be responsible for the first £50k should one of the above be allowed to fail. AIB and BOI are important institutions, but the other two ..... I just hope the FSC are on top of this and do not allow all the deposits to disappear into an Irish whole and generate another KS&F situation.
  13. Why has the Nationalisation of Anglo Irish not been covered by either Manx radio or Isle of Man Newspapers. Do they have a "D" notice procedure to hide bad news ? In this case maybe to prevent a run on the other Irish Banks on the Island ... http://www.ireland.com/home/Mixed_reaction...rnewsirishtimes
  14. That is not what it says. The paper says that the scheme manager (the FSC) has the power to borrow money either commercially or from government if it wants to speed payouts up. It does not say the government will "have" to borrow money in the open market. The government could attempt to use its reserves to lend to the scheme or, in a worse case scenario, it might have to go to the open market to raise the money to lend to the scheme. As a AAA (currently) rated jurisdiction it could do a bond issue or otherwise to raise the money although I seriously doubt people are queuing up to lend to tiny Island states that need the money because a bank has gone tits up. Even more so now we have damaged our own credibility as an offshore centre by the way this is being handled. 10,000 customers with £840 million in deposits and bearing in mind that KSF was used by mostly larger depositors because of the old Singer connection could well mean that up to 80% could be claiming the full £50k compensation if their funds cannot be recovered. That would mean a liability of £400 million to the Isle of Man compensation scheme where does IOM get that amount of money. Borrow it over 40 years because that is how long it would take to be paid back from the current levy. They have only just finished paying out the relatively modest sums caused by the collapse of BCCI in 1991. Why will people leave their funds in Isle of Man Banks with a far lesser amount of protection than elsewhere. I think HSBC is the only Bank on the Island that operates as a direct branch as opposed to being in a separate company like NatWest Offshore or International that holds IOM Bank RBSI and NatWest and I think Lombard Finance if it is still around.
  15. Whilst listening to CNBC yesterday I heard a Commentator asked whether they should continue to use Offshore Banking facilities. The reply was a most certain recommendation to move all funds to an area that has fully guaranteed their depositors. How does the Isle of Man intend to respond. We have a depositors protection scheme that is totally inadequate and will struggle to pay out even the smallest bank failure for many many years. maximum levy £500k per licence holder per year. Thirty licence holders (many like Barclays having more than one and may surrender one or more) means at most £30 million a year available to compensate depositors and realistically somewhat less as people like Conister would only have to subscribe a lesser amount because of their small size. KSF may have had £2 billion of deposits of which maybe £500 million should be covered up to £50,000. That means that it will take over 15 years to repay depositors and many with more than £50k are left as big losers. A deposit in the UK or even Ireland is government guaranteed for the full amount. The main reason for locals and indeed people living abroad using Manx and other offshore Banks has been to avaoid UK Income and possibly more importantly UK Inheritance Tax. Now that the UK limits have been substancially raised on Inheritance Tax that is of slightly less concern to the medium sized depositor. So why should anyone with more than £50k continue to use IOM Banks. Indeed even with under £50k do you really want to have to wait years to be repaid should the worst happen ?
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