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Coronavirus Isle of Man


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12 minutes ago, Mr Helmut Fromage said:

@Phillip Dearden at this time of national crisis it gives me comfort that you're still posting sense whilst swapping your Athol St suit for a Steam Packet knitted jumper, thick beard, reed pipe and heavy boots to secure the ships...

Still posting but in these strange times who is to say what is sense, nevertheless thanks for the comment.

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Press Release from the Rob Vine Fund   Following the cessation of Motor Sport on the Isle of Man in the midst of the Covid-19 pandemic the Directors of the Rob Vine Fund, Registered Charity No.954

@Lost Login - (and anyone else who thinks this doesn't apply to them particularly) I seem to recall you're an accountant so you can do this. Set up your own model of exponential growth in numbers

There's a lot of difficult concepts and difficult decisions being made here.  I'll have a go at a further explanation.  Possible long post ahead. First the difference between 'public health' and

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Press Release from the Rob Vine Fund
 
Following the cessation of Motor Sport on the Isle of Man in the midst of the Covid-19 pandemic the Directors of the Rob Vine Fund, Registered Charity No.954 (Isle of Man) wish to inform the public of the Isle of Man that they have unanimously decided to make all our equipment available to support the Manx community. This means we can supply the DHSC with
 
1. All of the medical equipment in storage for motor sport events on the Isle of Man. The list includes;
 
• 4 Patient ventilators, suitable for Intensive Care use
• 4 Multipurpose Patient Monitors for use on wards or Intensive Care.
• 5 Suction Units
• 8 Adult Advanced Life Support Bags
• 3 Paediatric Advanced Life Support Bags
• 130 Immediate care cases (prepacked with lifesaving medical equipment)
• 130 Scoop Stretchers
• All extra medical equipment currently held in stock
 
2. We have made available our three frontline ambulances should they be required.
These assets have a total value of £750,000
 
3. The unpaid volunteers of the Hogg Motorsport Association are currently on standby to assist the Isle of Man Ambulance Service in any way they can
 
We remain committed to supporting the Health Service and the Manx community while the Covid-19 Pandemic continues in any way we can.
 
We wish to thank everyone who has donated to the Rob Vine Fund which makes this gesture possible.
 
 
The Directors of the Rob Vine Fund.

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1 hour ago, pongo said:

He seems like a good guy, the Chancellor. And the economic support for business is spot on. The govt and the Bank has unlimited scope to create money provided it collects a rougly equal amount back in taxes. Keeping the economy moving is essential.

A country can create money by simply spending it. Provided the government collects it back via taxation. The UK economy is not like a household budget.

Pongo..That's fine for the UK.We are in a far worse situation as we cannot "print" our own money.

As far as I know we have to "deposit" funds in England for every Manx banknote that we print.

This is what I have understood over the years but maybe clever people can correct me if i am wrong.

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16 minutes ago, mad_manx said:

Pongo..That's fine for the UK etc.

There is also the fact that we are a semi-detached part of the same economy. And keeping that economy flowing favours us too.

Lots of jobs here depend upon people in the UK having money to spend.

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Although the path ahead has many uncertain areas there is one that is most interesting. 

At some point between the next 12 and 24 weeks the cash will run out. The support will stop. The economy will crash and burn. Island life as we know it will fall apart quite literally. 

There is one option. Howard and Alf can pick up then blower to Boris, and ask him for some fiscal support. Maybe a £500m loan? Possibly other stimuli, who knows, that's for the economic boffins to figure out. 

But there may be one thing stopping that happening, pride. Will we put our delusions of being a "strong and independent country" get in the way of swallowing our pride and asking for help in our hour of greatest need? 

Nationalism is easy when the times are good, but nationalism doesn't put food on the table, fuel in the car, or money towards the mortgage. 

This is a question we need those in power to be considering now, now in 12 - 24 weeks time. 

Corona will eventually ease, but will it ease before the cash runs out? Absolutely trashing the economy is in nobodies interest. We need to retain enough from which the green shoots of recovery can emerge. 

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13 minutes ago, mad_manx said:

Pongo..That's fine for the UK.We are in a far worse situation as we cannot "print" our own money.

As far as I know we have to "deposit" funds in England for every Manx banknote that we print.

This is what I have understood over the years but maybe clever people can correct me if i am wrong.

You are correct. The IOM Government cannot create its own money and has to survive by spending what it earns or borrows.

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13 minutes ago, On The Bus said:

Although the path ahead has many uncertain areas there is one that is most interesting. 

At some point between the next 12 and 24 weeks the cash will run out. The support will stop. The economy will crash and burn. Island life as we know it will fall apart quite literally. 

There is one option. Howard and Alf can pick up then blower to Boris, and ask him for some fiscal support. Maybe a £500m loan? Possibly other stimuli, who knows, that's for the economic boffins to figure out. 

But there may be one thing stopping that happening, pride. Will we put our delusions of being a "strong and independent country" get in the way of swallowing our pride and asking for help in our hour of greatest need? 

Nationalism is easy when the times are good, but nationalism doesn't put food on the table, fuel in the car, or money towards the mortgage. 

This is a question we need those in power to be considering now, now in 12 - 24 weeks time. 

Corona will eventually ease, but will it ease before the cash runs out? Absolutely trashing the economy is in nobodies interest. We need to retain enough from which the green shoots of recovery can emerge. 

If this does run in its current form for 24 weeks, the IOM will have to change. It’s either persist with this independence stuff, and raise taxes which is going to make the place less attractive to live here and do business, or capitulate and be absorbed into the UK, maybe on a ‘Devo-max’ model at best.

The persuasive factor has to be that we could not afford to do this again in a generation, let alone next year. 

There has to be a really grown-up debate on this. Hubris cannot influence the outcome.

Edited by Derek Flint
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4 minutes ago, Derek Flint said:

If this does run in its current form for 24 weeks, the IOM will have to change. It’s either persist with this independence stuff, and raise taxes which is going to make the place less attractive to live here and do business, or capitulate and be absorbed into the UK, maybe on a ‘Devo-max’ model at best.

The persuasive factor has to be that we could not afford to do this again in a generation, let alone next year. 

There has to be a really grown-up debate on this. Hubris cannot influence the outcome.

Why do you  keep pushing this? why was this being pushed before the virus?

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18 minutes ago, Phillip Dearden said:

You are correct. The IOM Government cannot create its own money and has to survive by spending what it earns or borrows.

Considering they can keep changing the rules when it suits them, why can't we?

In a time of emergency why should we have to stick to these rules when other places don't?

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24 minutes ago, Lagman said:

Considering they can keep changing the rules when it suits them, why can't we?

In a time of emergency why should we have to stick to these rules when other places don't?

 Because our money does not have  any value outside the IOM! 

 

Have you ever  tried paying with IOM money in the UK? 

Even the  banks in the UK cannot deal with your Isle of man bank account as they are not part of the same network. :-(

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Just now, mad_manx said:

 Because our money does not have  any value outside the IOM! 

 

Have you ever  tried paying with IOM money in the UK? 

How much value will theirs have now?

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