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2112

#Were in the Money#

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21 minutes ago, Phillip Dearden said:

What does that figure mean?

The Audited figures show that from 2009 to 2018 Total Funds and Reserves of the Govt. fell from £2.7bn to £421m (or from £2.2bn to -£437m if you exclude the NI Fund)

Those figures are not cash and liquid assets. They are the bottom half of the Balance Sheet, to be compared with the P&L and Share Capital of a company. Nevertheless the reduction is indicative of a problem.

At 31/3/18 the Govt had +500m of cash and a similar figure for Net Current Assets so they/we are a long way from a crisis but there is a long-term issue to be dealt with.

 

 

Some government type admitted on here that all these so called billions in reserve actually equated to the value of the roads, schools, hospitals, etc if they were ever to be sold off.

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8 hours ago, Donald Trumps said:

Presumably it will be used to pay down liability for civil service pensions

Be good if half of it went to pay down MUA debt

Wise up...

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41 minutes ago, finlo said:

Some government type admitted on here that all these so called billions in reserve actually equated to the value of the roads, schools, hospitals, etc if they were ever to be sold off.

That is why the "Reserve" figures are not very meaningful.

The Reserves are one side of the Balance Sheet and they are really just a historical record of how we got here. The other side of the Balance Sheet does include schools and roads,  the accounts are correct but these are not money that can be used to pay bills. A Reserve figure of £10bn or £100bn would not be much use to pay bills if all the assets it represented were used tarmac and breakwaters.

Those who care need to look at cash, near cash and cash flows. These numbers do look good for now but could get stressed as we move forwards.

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Philip, there are no "reserves". We're in the shitter.

Edited by Rushen Spy
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14 hours ago, Neil Down said:

Wise up...

To what exactly, oh great Master of Wisdom?

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A tweet from MHK Hooper suggests that the budgeted revenue figures are purposely kept on the low side so that the ‘back slapping’ can take place at a later date.

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I'd say it is incumbent on a financial forecaster or planner to be cautious when making income projections

It's only a fairly desperate politician who'd boast about it in state media

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1 hour ago, Donald Trumps said:

To what exactly, oh great Master of Wisdom?

As in it won’t be used for MUA debt...:flowers:

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1 hour ago, Billy One Mate said:

A tweet from MHK Hooper suggests that the budgeted revenue figures are purposely kept on the low side so that the ‘back slapping’ can take place at a later date.

Ah, that old chestnut!

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15 minutes ago, Neil Down said:

As in it won’t be used for MUA debt...:flowers:

Well probably not - the burden for that can be laid on the stupid fecking consumer

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1 hour ago, Donald Trumps said:

Well probably not - the burden for that can be laid on the stupid fecking consumer

Yup. All 80-odd thousand of them stupid fecking consumers. All ripe for plucking.

Edited by Non-Believer
Typo
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On 7/5/2019 at 10:03 AM, 2112 said:

The Nations Propaganda Mouthpiece is at it again.

So, you reckon this isn't something that should be reported?

That acute bile duct has infected what was left of your brain.

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4 hours ago, Stu Peters said:

So, you reckon this isn't something that should be reported?

That acute bile duct has infected what was left of your brain.

Windbag vs windbag.

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4 hours ago, Stu Peters said:

So, you reckon this isn't something that should be reported?

That acute bile duct has infected what was left of your brain.

There's nothing wrong with the Government's Propaganda Machine reporting this. Just as long as it's viewed in context. 

 

The Island's finances are still trashed. The Pensions Blackhole will decimate things for decades to come. We're saddled with loss making radio stations and horse trams, that nobody is prepared to deal with. 

 

Aside from that, shout it from the roof tops! We're in the money! 

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22 minutes ago, MrPB said:

A huge part of that £1.8bn is the NI reserve fund. 

I doubt Skelly can actually read a set of accounts. 

Is that the same free hospital fund ?

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