Jump to content
Coronavirus topics renamed and some locked. No new topics. ×
Manx Forums, Live Chat, Blogs & Classifieds for the Isle of Man
BallaDoc

Ramsey marina meeting tonight

Recommended Posts

47 minutes ago, dilligaf said:

the poster B4mbi (sp) , I think it was explained a few facts to show that the marina thing could not be financially viable

That indeed was my assessment. 

Laughable the hysteria about this from the nimbys. The promoters don't even own the land, haven't put in for planning permission and haven't issued a credible business plan with financials that stack up!! 

The only way this is happening is an exceedly wealthy benefactor who doesn't mind burning £75m for no return. I can count the number of those around on the fingers of Jamie Lannister's right hand.

Private equity won't touch it unless promoters prove they can make 12%++ p.a.

And Government won't throw endless millions at it either. They may facilitate it perhaps somehow, but definitely won't underwrite it financially.

  • Thanks 1

Share this post


Link to post
Share on other sites

Having said all that, if they can somehow make it work (without substantial government cash) I'd be all for it!

  • Like 1
  • Thanks 1

Share this post


Link to post
Share on other sites
2 minutes ago, b4mbi said:

That indeed was my assessment. 

Laughable the hysteria about this from the nimbys. The promoters don't even own the land, haven't put in for planning permission and haven't issued a credible business plan with financials that stack up!! 

The only way this is happening is an exceedly wealthy benefactor who doesn't mind burning £75m for no return. I can count the number of those around on the fingers of Jamie Lannister's right hand.

Private equity won't touch it unless promoters prove they can make 12%++ p.a.

And Government won't throw endless millions at it either. They may facilitate it perhaps somehow, but definitely won't underwrite it financially.

Also consider that many people can't understand why we can't have a Disney World theme park over here, or a full sized race circuit, cruise terminals, wind turbines, tidal power set ups....……………………..and still pay next to nothing in tax :lol:

Share this post


Link to post
Share on other sites
1 minute ago, dilligaf said:

Also consider that many people can't understand why we can't have a Disney World theme park over here, or a full sized race circuit, cruise terminals, wind turbines, tidal power set ups....……………………..and still pay next to nothing in tax :lol:

We don't pay next to nothing in tax, or at least most of us don't. 

  • Like 2
  • Thanks 1

Share this post


Link to post
Share on other sites
4 minutes ago, Chris C said:
6 minutes ago, dilligaf said:

Also consider that many people can't understand why we can't have a Disney World theme park over here, or a full sized race circuit, cruise terminals, wind turbines, tidal power set ups....……………………..and still pay next to nothing in tax :lol: 

We don't pay next to nothing in tax, or at least most of us don't. 

So a high rate of 20 % is not low ???????

Share this post


Link to post
Share on other sites
12 minutes ago, dilligaf said:

So a high rate of 20 % is not low ???????

It's all the other crafty one's that add up!

  • Like 2
  • Sad 1

Share this post


Link to post
Share on other sites
2 minutes ago, dilligaf said:

So a high rate of 20 % is not low ???????

It is. However I and a vast majority of other people don't earn enough to be paying the higher rate in other countries anyway. So the saving is modest. 

Share this post


Link to post
Share on other sites
1 minute ago, finlo said:
4 minutes ago, dilligaf said:

So a high rate of 20 % is not low ???????

It's all the other crafty one's that add up!

Same everywhere. The IOM is still low tax. Thankfully.

Share this post


Link to post
Share on other sites
1 minute ago, Chris C said:
6 minutes ago, dilligaf said:

So a high rate of 20 % is not low ???????

It is. However I and a vast majority of other people don't earn enough to be paying the higher rate in other countries anyway. So the saving is modest. 

Really ?

Share this post


Link to post
Share on other sites
11 minutes ago, dilligaf said:

Same everywhere. The IOM is still low tax. Thankfully.

Unless you're very wealthy there is no longer any financial advantage to living here.

  • Thanks 1

Share this post


Link to post
Share on other sites

Yes. Take England, Wales and NI for example. To be paying more than 20% tax you would have to be earning (as a single person) £12.5K personal allowance plus £37.5K (£50K in total) and even then you would only pay over 20% on your earnings over £50K.

I and a vast majority of people on the island don't make that sort of money so make no savings at all from the higher tax rate.

  • Like 2
  • Thanks 2

Share this post


Link to post
Share on other sites
1 minute ago, finlo said:
5 minutes ago, dilligaf said:

Same everywhere. The IOM is still low tax. Thankfully.

Unless you're very wealthy there is no longer any financial advantage to living here.

Nor should there ever have been.

We live here because we love the island for what it is and it's way of life.

We don't need or even want the economic dwellers.

I would happily live with reduced services without all these financial immigrants calling the shots.

 

  • Like 2

Share this post


Link to post
Share on other sites

Don't get me wrong, there are savings made here in comparison,  in the 10% band for example and greater personal allowance. But these are fairly modest and are soon offset elsewhere. So to say we pay next to nothing in tax is just not true. Unless you're loaded that is.

Share this post


Link to post
Share on other sites
9 minutes ago, Chris C said:

Don't get me wrong, there are savings made here in comparison,  in the 10% band for example and greater personal allowance. But these are fairly modest and are soon offset elsewhere. So to say we pay next to nothing in tax is just not true. Unless you're loaded that is.

I was comparing our rate to many strong economies in Europe. I hate paying any tax, but realise that we must and that what we pay is far less than many other countries.

Share this post


Link to post
Share on other sites
1 minute ago, dilligaf said:

I was comparing our rate to many strong economies in Europe. I hate paying any tax, but realise that we must and that what we pay is far less than many other countries.

It isn't though, unless you are earning loads. See my previous example.  The modest savings which are all that are available to all but a few here are soon offset and more by other costs of living here.

We may be a low tax jurisdiction,  but not for the likes of you and me fella. 

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...