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Greggs

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not really, the stuff greggs buys is all basic commodities and as such the price is more or less set by global supply and demand

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Surely the VAT is collected on the IoM?

 

Whick makes no difference whatsoever!

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The gov need to wake up to the fact that this shit does nobody any good.

 

I'm not sure the Gov have anything to do with it. Would you like them to ban all retailers who sell unhealthy food? What about the Manx bakeries, shall we close them too?

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Surely the VAT is collected on the IoM?

 

Doesn't make a difference where it's collected. What it (as I remember?) does make a difference is that non resident companies don't contribute towards our GNP which is used to calculate our share under the common purse. So all those companies that changed like M&S, Tesco etc to non resident are now not contributing to VAT. I think :)

 

Also, a local firm will have local shareholders, so at least the profits will be spent on the island and contribute to the economy.The profits from a local gregs will go to non manx shareholders off island.

 

We should always suport local businesses if they're good and competative imho, and I think our pastie shops aren't bad?

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Also, a local firm will have local shareholders...

 

I would suggest that it *may* have local shareholders, also there will be many island residents who hold shares on offshore companies.

 

What about Manx companies selling off-island, for example Peel Holdings or myself via the internet?

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Surprised that Ramsey Bakery have not kicked off about this, wont be going there myself, not for health reasons just as I have got older sausage rolls and pasties now give me heartburn so bad it feels like an instant coronary, and it lasts for hours.

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I would suggest that it *may* have local shareholders, also there will be many island residents who hold shares on offshore companies.

 

I would say you're clutching at straws if you think out of the millions or so shares issued in Greggs that any of the profits end up in manx cash tills. Compared to a local company with two or three local shareholders who will spend most of their income locally it's very different.

 

What about Manx companies selling off-island, for example Peel Holdings or myself via the internet?

 

What about them?

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Surprised that Ramsey Bakery have not kicked off about this, wont be going there myself, not for health reasons just as I have got older sausage rolls and pasties now give me heartburn so bad it feels like an instant coronary, and it lasts for hours.

 

You should get that checked out. Sounds to me like you may have an intolerance to gluten. Or Chrones disease.

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I would say you're clutching at straws if you think out of the millions or so shares issued in Greggs that any of the profits end up in manx cash tills. Compared to a local company with two or three local shareholders who will spend most of their income locally it's very different.

 

 

As I explained already, it doesn't really matter. Greggs is going to be buying commodity type stuff - and consequently there's one price globally, to the first approximation. Manx businesses can already sell their meat or flour or whatever worldwide if they want to. They don't need local buyers.

 

In the world you want where everyone buys locally, they wouldn't be able to export. Everyone would be a heckuva lot worse off.

 

It's a few years now since I was last at a Greggs, but if they still do the pepperoni pizza on a slice of bread thing, I'll be there!

Edited by sirstabby

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Greggs may have bought Ramsey Bakery and registered all their properties over here.

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I would say you're clutching at straws if you think out of the millions or so shares issued in Greggs that any of the profits end up in manx cash tills. Compared to a local company with two or three local shareholders who will spend most of their income locally it's very different.

 

 

As I explained already, it doesn't really matter. Greggs is going to be buying commodity type stuff - and consequently there's one price globally, to the first approximation. Manx businesses can already sell their meat or flour or whatever worldwide if they want to. They don't need local buyers.

 

In the world you want where everyone buys locally, they wouldn't be able to export. Everyone would be a heckuva lot worse off.

 

I don't want a world where everyone buys locally, and I didn't say I did. I was responding to the question on why a massive chain opening on the island squeezing out small business may be a bad thing. There are benefits too, but I wasn't responding to that being questioned.

 

I'm not sure why you're banging on about commodity prices. Laxey Flour Mills aren't going to start selling on commodity exchanges, they sell to local businesses with a bit of export and the price is set by their costs locally. Try buying flour in india and see if it's the same price as Laxey, there isn't one price globally at all.

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