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Residents urged to expect a very tough 12 months


offshoremanxman
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24 minutes ago, code99 said:

When I look at their stance on dealing with the cost of living/ cost of doing business crisis, can this government be trusted to spend taxpayers’ money wisely, to not squander the Reserves on pointless projects, etc? They are telling people that those who needs assistance will be assisted, even though more and more businesses on the Island are folding.... Presumably until the cupboard is bare and the kitty is empty the IOMG's own unaccountable spending will continue.

A lot of the businesses closing would have done so anyway due to retirement or no one using them, there’s new ones opening eg Jaks new venture & the tapas one in dream bird old premises.

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1 hour ago, 2112 said:

Has CM Cannan appeared on the NPM or has relocated to living there? The NPM have another news article which he is proclaiming’ ‘Government recognises peoples concerns’. 
 

I don’t know whether this is a fresh appearance or whether one appearance can provide the NPM with news for a whole week, and ready made instant sound bites for IOMG to trot out, to show the plebs that they care?


Well the article quotes the CM as saying he recognises people are scared 

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1 hour ago, code99 said:

When I look at their stance on dealing with the cost of living/ cost of doing business crisis, can this government be trusted to spend taxpayers’ money wisely, to not squander the Reserves on pointless projects, etc? They are telling people that those who needs assistance will be assisted, even though more and more businesses on the Island are folding.... Presumably until the cupboard is bare and the kitty is empty the IOMG's own unaccountable spending will continue.

On the point of Reserves the two snapshots from the latest Pink Book below are interesting as we don’t seem to be taking the money from traditional ‘reserves’ we seem to be taking a disproportionate amount of money from the NI Fund (ie, your state pension and my state pension).

You can see from the below the amount coming out of the NI Fund and going straight into paying PSPA Pensions (ie, removing our money from an allegedly ring-fenced fund and paying it across to them), and in the second table you can see how much is planned to come out of the NI Fund and other Reserves over the next few years on top. 

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1 hour ago, offshoremanxman said:

On the point of Reserves the two snapshots from the latest Pink Book below are interesting as we don’t seem to be taking the money from traditional ‘reserves’ we seem to be taking a disproportionate amount of money from the NI Fund (ie, your state pension and my state pension).

You can see from the below the amount coming out of the NI Fund and going straight into paying PSPA Pensions (ie, removing our money from an allegedly ring-fenced fund and paying it across to them), and in the second table you can see how much is planned to come out of the NI Fund and other Reserves over the next few years on top. 

 

 

That's not the most recent Pink Book. there are two more since then and the numbers get bigger.

BUT

Aren't those numbers negative (The NI Operating Account drawdown)?

I say that tentatively as these schedules are a bit intricate.

I try not to get bogged down in these figures as these are transfers between reserves, I am sure it is important for Govt. Budgeting but for me it is cash flow which matters and I see all the Reserves as one big fund. See the VAT query, that fund is not looking good at the moment.

I think it is the overall amount of reserves that matters and not the juggling between them. It is tight control of overall cash-flow/expenditure that will ensure those funds are preserved.

 

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15 minutes ago, Phillip Dearden said:

It is tight control of overall cash-flow/expenditure that will ensure those funds are preserved.

I await government operating like this, but won't hold my breath.

We seem to cost good ideas, but then when they get underway on every occasion we end up spending multiples.

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3 hours ago, Banker said:

A lot of the businesses closing would have done so anyway due to retirement or no one using them, there’s new ones opening eg Jaks new venture & the tapas one in dream bird old premises.

Are you implying that some businesses in closing, is a price worth paying? Granted it is survival of the fittest at this moment. Some are more able to adapt, some know the right people and have the right connections, and some must have plenty of funds. 
 

Retirement - how many businesses, there are not that many left, very few in Douglas, other than the Lexicon Bookshop which closed in July. 
 

I think once the fuel bills start to take effect, the food price increases in the run up to Christmas, and other factors come into play such as possible increased interest rates and the rate of inflation which will affect the IOM, especially those consumers with mortgages, bought when interest rates were low! I can see less money being pumped into the economy. Reduced spending, and possibly reduced opening hours in these new restaurants opening up. Some businesses will survive but I can see many closing. After all, how many families will have lots of money for dining out in the evening, and on a Sunday, paying increasing prices, and having a limited menu choice? 

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1 hour ago, 2112 said:

Are you implying that some businesses in closing, is a price worth paying? Granted it is survival of the fittest at this moment. Some are more able to adapt, some know the right people and have the right connections, and some must have plenty of funds. 
 

Retirement - how many businesses, there are not that many left, very few in Douglas, other than the Lexicon Bookshop which closed in July. 
 

I think once the fuel bills start to take effect, the food price increases in the run up to Christmas, and other factors come into play such as possible increased interest rates and the rate of inflation which will affect the IOM, especially those consumers with mortgages, bought when interest rates were low! I can see less money being pumped into the economy. Reduced spending, and possibly reduced opening hours in these new restaurants opening up. Some businesses will survive but I can see many closing. After all, how many families will have lots of money for dining out in the evening, and on a Sunday, paying increasing prices, and having a limited menu choice? 

I’m saying some would close because the offering/price/location was poor eg epernay, close leece, muffins & lexicon both closing because of retirement. None of the staff will be out of work as loads of vacancies & new businesses opening up.

We can’t afford to keep every small business going no matter how useless 

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40 minutes ago, Banker said:

I’m saying some would close because the offering/price/location was poor eg epernay, close leece, muffins & lexicon both closing because of retirement. None of the staff will be out of work as loads of vacancies & new businesses opening up.

We can’t afford to keep every small business going no matter how useless 

Fair enough.

We can’t afford to keep every small business going no matter how useless. Who defines what business is useless? Some could possibly argue that they are a viable business being thrown to the wolves, whilst IOMG favoured businesses are supported. 
 

 

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Several interesting news stories today. One about Russia selling £billions of oil and gas to China and about Europe now doing a deal to buy oil and gas from China. Another, was a German Minister saying that people would just have to cope with the cold winter as her support for Ukraine was unwavering and she didn’t care what her voters thought. But of most interest was the 70,000 plus demonstrating in the Czech Republic about their government’s support for Ukraine at the expense of their own people. It might not be long before all of the madness leads to UK demonstrations.

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20 minutes ago, Manx Resident said:

Several interesting news stories today. One about Russia selling £billions of oil and gas to China and about Europe now doing a deal to buy oil and gas from China. Another, was a German Minister saying that people would just have to cope with the cold winter as her support for Ukraine was unwavering and she didn’t care what her voters thought. But of most interest was the 70,000 plus demonstrating in the Czech Republic about their government’s support for Ukraine at the expense of their own people. It might not be long before all of the madness leads to UK demonstrations.

I’d happily freeze this winter rather than support a piece of shit government like Russia selling gas and oil into international markets. Britain thankfully imports very little in the overall scheme of things. What we are experiencing (and we haven’t even experienced it yet) is nothing compared to the daily deaths in Ukraine as a result of Russian imperialism.  

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I don't think anyone will freeze this winter , its time we went back to heating the room we actually live in , central heating on  just when you get up in the morning , we have got too soft , and wasteful  what we are seeing now is just the beginning  ,and the greens will continue to force the global warming issue ,anyone who followed Kyoto will know its going to be a hard slog to deliver what many nations signed up to ,and many are back peddling  now in the true light of day !

 

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8 hours ago, Wavey Davey said:

I’d happily freeze this winter rather than support a piece of shit government like Russia 

 plenty of locals here will be freezing this winter so our own piece of shit government can support itself.

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When I was a nipper we never had such a luxury as central heating just a coal fire to heat up the back water boiler with a small electric heater in the bathroom, slept sometimes with jumper and bobble hat in winter when frost was inside the windows, that just how it was but gave me a good work ethic to never go back to those days. 

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1 hour ago, GreyWolf said:

When I was a nipper we never had such a luxury as central heating just a coal fire to heat up the back water boiler with a small electric heater in the bathroom, slept sometimes with jumper and bobble hat in winter when frost was inside the windows, that just how it was but gave me a good work ethic to never go back to those days. 

It doesn't seem that long ago that I had to chip the ice from the outside toilet in the middle of the night! 

I feel that government are letting everyone down with their inaction.  Waiting until we have a new UK pm and following their plan is not what I expect from our leaders. The fact they want to kick it down the road until October says it all.

Re-announcing £8 million in green grants isn't fixing anything in the short term.

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