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IOM Covid removing restrictions


Filippo

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24 minutes ago, Gladys said:

It may be buttons, but there may also be many more buttons out there.

You have my sympathy, undoubtedly.  However, I am not sure that stuffing it back at the government is really the right approach.  Your company (presumably) took the loan in the honest belief that it would tide it over until things eased up and it could get back to normal operations.  As it turns out, 'normal operations' were a long way off, and we are not there still. 

If you have belief in your business proposition, would it not be better to negotiate an extension of repayment?  That way the company could still survive  and, possibly, achieve the potential you had in mind when you set it up? It will also avoid you having to answer those questions on future loan applications "were you ever a director of a company which went into insolvency?". 

I can understand your emotions in this, but you may do yourself more favours to try to reach some kind of compromise rather than just drop a hot potato.  

Also, check the terms of the loan that you, in your personal capacity, have not given a guarantee for the remaining 20%. 

Not giving you advice, really, other than deal with this with a level head, advice and without emotion. 

Are you having an actual laugh?

Many people "have belief in their business proposition" without ever thinking they would have to deal with this shitshow.

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35 minutes ago, Gladys said:

It may be buttons, but there may also be many more buttons out there.

You have my sympathy, undoubtedly.  However, I am not sure that stuffing it back at the government is really the right approach. 

My accountant has given me all the advice I need thanks. As I said the only reason I got the loan was because I couldn't trade due to IOM government emergency laws shutting me down. I wouldn't have taken on debt (and haven't had any debt in the business for 10 years up until that point) if it wasn't because of that. I doubt they'd have lent me the money without the governemt guarantee as the actual company assets are easily liquidated. As I said to VOR government itself has dumped about a £4 billion liability on us for the public sector pensions, another £400 million on us for the MUA and now £70 milliom for Liverpool. My liability transfer is very small beer. And through no fault of my own. Those supporting the public and private sectors now being treated differently need to wind their necks in. Government shut a huge number of businesses like mine down due to their actions. Many won't be repaying the money.

Last time I looked the UK Treasury provision for bad covid loans was about £6 billion.

Edited by Petefella
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3 minutes ago, Ramseyboi said:

Are you having an actual laugh?

Many people "have belief in their business proposition" without ever thinking they would have to deal with this shitshow.

No, not having a laugh, far from it.  But just saying perhaps an emotional response will actually have repercussions down the line.  Better to keep a level head, hard I am sure, but it may help on all kinds of levels.  

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7 minutes ago, Gladys said:

No, not having a laugh, far from it.  But just saying perhaps an emotional response will actually have repercussions down the line.  Better to keep a level head, hard I am sure, but it may help on all kinds of levels.  

True, but people who have been directly impacted in a way that will impact the rest of their lives by rules that had no logic behind them (me included) are quite rightly seriously peeved in a way no full time employee, civil servant or retiree will EVER comprehend.

This has ruined my life while others were paid a full wage for sitting on their arse for months on end.

Edited by Ramseyboi
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5 minutes ago, Ramseyboi said:

True, but people who have been directly impacted in a way that will impact the rest of their lives by rules that had no logic behind them (me included) are quite rightly seriously peeved in a ay no full time employee, civil servant or retiree will EVER comprehend.

This has ruined my life while others were paid a full wage for sitting on their arse for months on end.

Yes, I get that, I really do.  But it doesn't actually matter to your individual position (or mine for that matter) whether there are people, CS or not, being paid or if there is a huge spunk of cash in Liverpool or the pensions black hole.

What matters is what you can do to control your own situation now.  That is where I have huge sympathy for self employed or small business owners who have had no control.  But that shouldn't stop you from trying to regain that control, and that is by arming yourself with all the information,  and applying it to your own situation to make the best of what you can.  You can't change that people were WFH, CS or not,  or that people were receiving their usual pay. 

Sorry if that sounds harsh but in line with your thinking, take control, don't roll over  or if you do, roll over because you knew it was the best option. 

 

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14 minutes ago, Gladys said:

Yes, I get that, I really do.  But it doesn't actually matter to your individual position (or mine for that matter) whether there are people, CS or not, being paid or if there is a huge spunk of cash in Liverpool or the pensions black hole.

What matters is what you can do to control your own situation now.  That is where I have huge sympathy for self employed or small business owners who have had no control.  But that shouldn't stop you from trying to regain that control, and that is by arming yourself with all the information,  and applying it to your own situation to make the best of what you can.  You can't change that people were WFH, CS or not,  or that people were receiving their usual pay. 

Sorry if that sounds harsh but in line with your thinking, take control, don't roll over  or if you do, roll over because you knew it was the best option. 

 

Taking control would have been trading with sensible mitigations, or at least getting a very modest payout while not being able to trade.

Both of those options were taken away with the threat of legal action if ignored..........3 times.

Whilst undoubtedly well intentioned, your post shows the same total lack of understanding that most others have.

Peoples lives and businesses of 20 or 30 years have been absolutely decimated  

Edited by Ramseyboi
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4 minutes ago, Ramseyboi said:

Taking control would have been trading with sensible mitigations, or at least getting a very modest payout while not being able to trade.

Both of those options were taken away with the threat of legal action if ignored..........3 times.

Whilst undoubtedly well intentioned, your post shows the same total lack of understanding that most others have.

Peoples lives and businesses of 20 or 30 years have been absolutely decimated  

I understand that, but what is your solution?

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4 minutes ago, Gladys said:

I understand that, but what is your solution?

Letting people make their own decisions and evaluate their own risks.

Dave the office worker could work from home on full pay but trevor the window cleaner couldn't stand on a ladder in someones garden with his mate at the bottom holding he ladder?  Even though it was outdoors?

Trevor has subsequently fallen into debt that he will never get out of.

What about Sarah who runs a cafe?  Diedre with the gym business? Gertrude the taxi driver?

It was insane and with no logic behind it and there are people who will never recover (me included, but I am just another statistic that gets ignored amongst cases)

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1 minute ago, Ramseyboi said:

Letting people make their own decisions and evaluate their own risks.

Dave the office worker could work from home on full pay but trevor the window cleaner couldn't stand on a ladder in someones garden with his mate at the bottom holding he ladder?  Even though it was outdoors?

Trevor has subsequently fallen into debt that he will never get out of.

What about Sarah who runs a cafe?  Diedre with the gym business? Gertrude the taxi driver?

It was insane and with no logic behind it and there are people who will never recover (me included, but I am just another statistic that gets ignored amongst cases)

OK, that is what happened, but what would you do?

 

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8 hours ago, Gladys said:

Yes, I thought it was quite appalling.  The staff handled it well though.  I cannot understand why people kick off in this way when, really, we are all in the same boat, may not like it, but the objective is to get boosters into arms, not get top marks for keeping to appointment times. 

It is the same on a Friday or Saturday when people argue with the security in pubs, I never understand it, they are not letting you in go somewhere else. There seems to be an entitlement for some people that they are right.

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8 hours ago, NoTailT said:

Is Mark Lewin the new Chief Secretary yet? Or what's his role now? Didn't watch the briefer.

He seems to have been slotted into a new role that didn’t previously exist. My guess is that he is doing the stuff that the Chief Secretary hasn’t  got the ability to do whilst being groomed to take over, quietly, some time in the near future. 

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7 hours ago, Gladys said:

I understand that, but what is your solution?

Simples. Pay freeze for 2 years at IOMG and same with all department budgets. Hiring freeze too. No government jollies off island ~ go green (see if they practise what they preach) and use video calls only.

Same with all non-essential works.. i.e. £2m bridges or any other 'heritage' projects that are not about preservation (i.e. horse tram lines on prom with £1m traffic lights). Get the potholes fixed first.

Over those two years, reset all department budgets to basic services & maintenance. Then lower capital project budget going forward by 20-30% minimum. Oh and bin off DBC, let them sink or swim on their own rates. No more cheap government loans. If they can afford £10,000's for statues they can pay their own way.

Time to prune the government cash tree after the biggest upheaval since WWII. Otherwise, we'll watch taxes and other charges spiral to cover declining revenue as more and more businesses and households struggle with soaring inflation.

The private sector lost lots of revenue and reserves they'll never see again so time for our IOMG to share the burden.

Latest announcement shows they just want covid to go away now and return to business as usual, leaving the tax payer to pick up the pieces. If one was cynical, suggest the LFT only is about closing the Grandstand site to allow them to start work on the TT preperations.

Hoping we'll conveniently forget all of the f* up's they allowed to happen. Time to share the pain I say.

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17 minutes ago, CallMeCurious said:

The private sector lost lots of revenue and reserves they'll never see again so time for our IOMG to share the burden.

And yet many sectors of business have been expanding - the biggest issue often talked about being around the difficulty of recruitment and the skills shortage - especially tech. And there are so many great unexploited opportunities which the island could be moving into. This is a great place to be based.

If there is too little money then the solution must certainly be to grow the economy (rather than effectively cutting it back). Obviously that means addressing the people shortage.

Edited by pongo
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