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nickyw

Shop Local And Buy Manx - Beat The Vat Black Hole!

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The truth is with the present scheme, the last scheme or the Common pursee we get no more VAT by spending in Tesco IOM than in Tesco Birkenhead

 

But do we get more by spending with Shoprite instead of Tesco?

 

Short answer, yes.

 

Tesco is a global brand and therefore centralise many of there internal services, such as IT and Finance. Tesco Hindustan This arm of Tesco even runs their UK pension scheme. Tesco has zero interest in local things if they can do it cheaper elsewhere. They should be avoided if you care about "local".

 

You think companies such as Shoprite do their finance and IT in India or are they providing local jobs?

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Now that has just made me mad! I'm going to tread in dog pooh and walk it into the chemist carpet so that little scum bag has to clean it up.

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I hate Tesco, the whole place just exudes evil, which is hardly surprising as it's part of a thoroughly despicable company. I'm surprised they were allowed to set up shop here in the first place.

 

I refuse point blank to shop there on principle, and even though Shoprite is a bit pants in some regards, we do all our shopping there, and it doesn't make me want to turn suicide bomber every time I go in.

 

Also the Waitrose 'touch of horseradish' crisps are very nice.

Edited by Cresta Fiesta

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Gazza and Gladys,

 

If the island comes out of the UK customs and VAT union, it will then, presumably, introduce it's own customs duties and VAT. Currently, everything entering the UK is subject to both VAT and duty (though the latter is usually negligible), and anything entering the island would also be subject to VAT and duty.

 

Anything imported via the UK would not be subject to UK imposts.

 

Everything imported would then contribute directly to the IOM economy.

 

Personally, I would investigate things like carbon taxes to discriminate against imports that had come a long way. That would protect island farmers from New Zealand lamb, for instance, and should stimulate demand for local veg. This in turn should lead to more competition.

 

I would also expect to extend IOM territorial waters and licence fishing within them. The idea would be that we would benefit from the value of our fishing grounds, irrespective of where fish were landed, or who caught them.

 

I would massively subsidise travel to the island by tourists (£10.00 for a car and four passengers, perhaps) and freight to and fro by local exporters.

 

I would impose a massive tax on alcohol sold by shops. It would be regressive, and hit cheap liquor harder. This would be a boost for pubs, and cut underage drinking.

 

S

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I would impose a massive tax on alcohol sold by shops.

 

Your miserable dinner party tax would be unpopular and would penalise the middle classes.

 

If the tax on wine was different here than in the UK then you would only be able to enforce that by searching every car which comes of the boat. Which would cost the govt more.

 

When something is unfairly taxed (or banned) you create a counter productive black market.

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If the island comes out of the UK customs and VAT union, it will then, presumably, introduce it's own customs duties and VAT. Currently, everything entering the UK is subject to both VAT and duty (though the latter is usually negligible), and anything entering the island would also be subject to VAT and duty.

We would have to be part of the EU to do VAT, as a microstate, otherwise it would just be 'import tax' or 'purchase tax' surely, not VAT.

I would also expect to extend IOM territorial waters and licence fishing within them. The idea would be that we would benefit from the value of our fishing grounds, irrespective of where fish were landed, or who caught them.
As I understand it, these licences have already been sold off, mainly to the Northern Irish fishing fleet. You can't just take them back. The reason they were sold off is that we didn't have sufficient boats to bid for them at the time.
I would massively subsidise travel to the island by tourists (£10.00 for a car and four passengers, perhaps) and freight to and fro by local exporters.
Our economy is held by the short and curlies by the steam racket. I would go further - nationalise them, and then put operation out to tender on a set cost-plus profit basis. They have abused their monopoly IMO. This would significantly lower essential transport costs to and from the island, which are critical to the bottom line for many businesses and potential businesses here.

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I would impose a massive tax on alcohol sold by shops.

 

Your miserable dinner party tax would be unpopular and would penalise the middle classes.

 

If the tax on wine was different here than in the UK then you would only be able to enforce that by searching every car which comes of the boat. Which would cost the govt more.

 

When something is unfairly taxed (or banned) you create a counter productive black market.

 

Silly billy. I said the tax would be regressive (look it up if you don't know what it means). It would hit the alcopops and cheap beer end of the market. A £10.00 bottle of wine would be the same price, and even a £7.50 bottle would be little more.

 

But your post suggests that you haven't yet cottoned on to the fact that things are going to be tough - even for the middle classes.

 

In fact, especially for the middle classes. They are bound to take the brunt of whatever measures are necessary. The rich will get off fairly lightly, because if they don't, they'll go.

 

S

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If the island comes out of the UK customs and VAT union, it will then, presumably, introduce it's own customs duties and VAT. Currently, everything entering the UK is subject to both VAT and duty (though the latter is usually negligible), and anything entering the island would also be subject to VAT and duty.

We would have to be part of the EU to do VAT, as a microstate, otherwise it would just be 'import tax' or 'purchase tax' surely, not VAT.

 

The EU doesn't own VAT, Albert.

 

I would also expect to extend IOM territorial waters and licence fishing within them. The idea would be that we would benefit from the value of our fishing grounds, irrespective of where fish were landed, or who caught them.
As I understand it, these licences have already been sold off, mainly to the Northern Irish fishing fleet. You can't just take them back. The reason they were sold off is that we didn't have sufficient boats to bid for them at the time.

 

If the island were an independant state, it would be entitled to an extension of it's territorial waters. It would be able to impose a new licence regime. And it could issue licences to others, on an annual basis. The point is that we would derive income from our waters.

 

I would massively subsidise travel to the island by tourists (£10.00 for a car and four passengers, perhaps) and freight to and fro by local exporters.
Our economy is held by the short and curlies by the steam racket. I would go further - nationalise them, and then put operation out to tender on a set cost-plus profit basis. They have abused their monopoly IMO. This would significantly lower essential transport costs to and from the island, which are critical to the bottom line for many businesses and potential businesses here.

 

Nationalising the Racket might indeed be the best way to deal with it. Certainly something needs to change.

 

S

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If the island comes out of the UK customs and VAT union, it will then, presumably, introduce it's own customs duties and VAT. Currently, everything entering the UK is subject to both VAT and duty (though the latter is usually negligible), and anything entering the island would also be subject to VAT and duty.

We would have to be part of the EU to do VAT, as a microstate, otherwise it would just be 'import tax' or 'purchase tax' surely, not VAT.

 

The EU doesn't own VAT, Albert.

I really meant, at this moment my opinion is we need to be part of a customs agreement with the EU - IMO, and stick with their version of VAT. As far as I can see, the only way of doing that away from the UK is becoming an microstate, seeking some necessary exemptions - and time - time to implement certain EU rules and regulations that we would be obliged to implement - which at some stage we are likely to have to implement at some stage under the UK anyway.

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If the island comes out of the UK customs and VAT union, it will then, presumably, introduce it's own customs duties and VAT. Currently, everything entering the UK is subject to both VAT and duty (though the latter is usually negligible), and anything entering the island would also be subject to VAT and duty.

We would have to be part of the EU to do VAT, as a microstate, otherwise it would just be 'import tax' or 'purchase tax' surely, not VAT.

 

The EU doesn't own VAT, Albert.

I really meant, at this moment my opinion is we need to be part of a customs agreement with the EU - IMO, and stick with their version of VAT. As far as I can see, the only way of doing that away from the UK is becoming an microstate, seeking some necessary exemptions - and time - time to implement certain EU rules and regulations that we would be obliged to implement - which at some stage we are likely to have to implement at some stage under the UK anyway.

 

I don't disagree, though I don't pretend to know all or even half the advantages or disadvantages to being in, out of, or partly in, the EU. At the very least we would require favourable access to EU markets.

 

I think that this is one of those moments in history when an opportunity to change presents itself, and the government should be leading, or at least encouraging, an informed debate on all our options.

 

One, in my view, would be a form of devolved membership of the UK. Something akin to what Scotland has, but with our own revenue raising powers - which is something that Scotland wants and I suspect will eventually get. In fact, I think that would be an ideal solution.

 

If we had to join the UK, it would make more sense, from several points of view, to join Scotland rather than England.

 

S

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you haven't yet cottoned on to the fact that things are going to be tough - even for the middle classes.

 

No I have. Like totally !

 

TBH I've been expecting trouble. I kind of see it as being possibly almost a good thing on the way to a more realistic future. I would sort of like the govt to start talking about it like that too.

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Incidentally, Scotland also gets a subsidy from England, under the Barnett formula. I wonder if that is due for revision, too.

 

S

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Firstly apologies for not having read the entire thread.

 

I strongly believe in buying locally (as a local business owner I would say that) where prices are comparable. What I do find interesting is the number of local suppliers that we are able to deal with and who have prices that compete well with those we could get in the UK.

 

Our company is a local manufacturer and our client base (95% Isle of Man) wouldn’t buy from us if it didn’t make economic sense.

 

I think the whole VAT argument needs close examination. I would like to see any taxes we pay stay here on the Island that provides us and our staff with a living.

 

Debs

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Phew.

 

No need to worry after all.

 

That nice Mr Quayle was on the radio today saying that visitor figures this year are up, and after all that lovely TT coverage on TV to a worldwide audience, he's hoping for even more next year.

 

Odd really, because his own figures show the TT going to 220 million homes this year, but more than 700 million LAST year. So TV audience DOWN equals visitor numbers UP.

 

And they say MHK's are stupid...

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Personally, I would investigate things like carbon taxes to discriminate against imports that had come a long way. That would protect island farmers from New Zealand lamb, for instance, and should stimulate demand for local veg. This in turn should lead to more competition.

Hey!!! Hands off New Zealand farmers. Better to ask why is heavily subsidised EU meat still unable to compete with efficient non-subsidised New Zealand product.

 

But seriously I think that your suggestions are great (except for the above). My only concern is how do we exist for the next 10 years whilst all of this independence stuff is being argued about? I reckon we need some more immediate actions to deal with the black hole. Changing to Shoprite is a good symbolic gesture but will not generate £90 million.

 

For starters I vote for abolishing the £100,000 tax cap, making all public service and politicians pensions fully contributory, selling off the MEA (we would still have the debts but could get some capital for the business), cutting out excess senior public servants, maybe increasing top rate of tax by 5%, introducing a 5% corporate tax rate to head off EU complaints about the 0% rate (from Luxembourg????), a 'black hole' tax on petrol and diesel and a 'quick and dirty' review of PS expenses to cut out any that don't deliver or contribute directly to frontline service (no more self praise leaflets).

 

That bit about Tesco Hindustan really grabbed me. Never liked them.

 

PS: Forgot to say - I would sell off Reynoldsway.

Edited by manshimajin

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