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Phillip Dearden

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About Phillip Dearden

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  1. Yes, I am logged in from home for the 1st time in weeks. TYVM whoever did whatever it was.
  2. Me too. A bit of a nuisance as home is 4G only.
  3. I agree re gaming/gambling. That is a big part of the Island's economy. For me they are part of Financial Services even thought that may not accord with Govt/GDP definitions. I don't know what "services in general" means.
  4. Not long. Gladys was correct. You cannot base an economy on selling foreign made products to each other. Local service and support industries are important but there needs to be wealth creation. On the IOM most of the wealth creation is the export of Financial Services products (and some manufacturing) . Without that, the rest would not happen. Without outside contact, the relationships that facilitate those sales will degrade. Thus, in the short-term Lockdown preserves our health and is required but it cannot persist long-term or the economy will decline.
  5. Is it the unmade road between the A17 and the Bernahara Road? If so, it is shown as an unmade road. [If not, apologies for mis-directing the discussion] On older maps this road is just shown as a road in a similar way to the other nearby roads. None of that means it is a current legal right of way but it could be.
  6. It looks like the management think that is the case. I am not in possession of info to suggest that they are wrong.
  7. Why protest? Do you want a bank that is competitive and thus viable or one that lives in the past?
  8. They may be going to liquidate it and notices in the paper re the liquidation or dissolution of "Isle of Man Bank" would cause a bit of a fuss. This is quite a common practice for liquidation/dissolutions. I have no inside knowledge of this particular case.
  9. I agree with the above but would expand slightly. If we are considering things from an economic point of view, I would include the employers NI. If you see the salary plus Employer's NI as the gross cost - which it is, as this is the cost to the employer, then your 17% and 21% become 19% and 29%. From about 57k, the total tax take is 29% (increasing very slightly as you increase salary). Our tax rates are progressive up to about £850pw, and then not ie as Roger say "pretty much a flat rate".
  10. Isn't a reduction in the volume of antibodies a normal post-virus effect? Surely it is the ability to re-create antibodies that matters, along with potency and volume and some stuff I don't understand. Virus's and immunity are complex stuff and a bit beyond me but I gather the falling away of the volume of antibodies is expected.
  11. Sorry, I did not meant to suggest VAT was going to re-vitalise our economy. I was querying whether extra activity here might influence the VAT sharing agreement so that the IOM received a greater share. I say "query" because I do not know how this calculation works.
  12. There is so much here to ponder. If every £1 I spend creates £1.80 of value to the economy, the same must be true of the recipient of my £1.80. He/they will spend their money and create 3.24 of value to the economy. After 30 days/cycles/transactions , my £1 will be creating £45m of value for the economy on each lap...and still growing. The Keynesian multiplier was about a Government spending money it had either created or borrowed to stimulate an economy from a temporary slump. It was not a way of creating economic activity. For the IOM, it is even less relevant as the Government can
  13. I wonder if that is completely correct? I am not arguing that we should throw the borders open immediately but I am querying whether most of our business is done locally. There is, obviously a local economy and it is very important. However, I suggest that most wealth creation on the Island is via the sale of Financial Services products to non-residents ie we export financial services. I suggest, that if this did not happen the internal economy would be much smaller. you cannot base an economy on selling foreign made goods to each other - somewhere, wealth needs to be created. If th
  14. It is still like that - the fact you get your allowances and deductions when you submit a return means you are not taxed at 20% on every penny you earn. As it is possible to get an exemption certificate, if you are up to date with returns and payments, even the 20% up-front payment is a choice.
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