Donald Trumps Posted March 27, 2020 Share Posted March 27, 2020 At least we have now reached the position where reserves will be invested in future development But it's at a heavy cost Link to comment Share on other sites More sharing options...
Non-Believer Posted March 27, 2020 Share Posted March 27, 2020 2 minutes ago, Donald Trumps said: At least we have now reached the position where reserves will be invested in future development But it's at a heavy cost Evidence please, DT? Link to comment Share on other sites More sharing options...
Donald Trumps Posted March 27, 2020 Share Posted March 27, 2020 Evidence of what? Link to comment Share on other sites More sharing options...
On The Bus Posted March 27, 2020 Share Posted March 27, 2020 1 hour ago, woolley said: Right, so a civil service grab of all the local authorities. Fantastic. You want to pay twice as much for everything? I'm already paying twice for everything. Each little LA Empire has it's own admin set up. Link to comment Share on other sites More sharing options...
Holte End Posted March 27, 2020 Share Posted March 27, 2020 sorry if it has already been posted. Link to comment Share on other sites More sharing options...
Non-Believer Posted March 27, 2020 Share Posted March 27, 2020 8 minutes ago, Donald Trumps said: Evidence of what? That reserves will be invested in future development? Link to comment Share on other sites More sharing options...
Donald Trumps Posted March 27, 2020 Share Posted March 27, 2020 6 minutes ago, Non-Believer said: That reserves will be invested in future development? A fund is to be set up by Treasury to provide investment support The 'Strategic Investment Fund' If it's just used to provide cash flow for chums in the Chamber of Commerce then of course it would be nothing of the sort That's why there has to be Tynwald oversight Link to comment Share on other sites More sharing options...
yootalkin2me Posted March 27, 2020 Share Posted March 27, 2020 1 hour ago, Cambon said: What needs to happen is an emergency budget every month while this continues. For each month, claw back 1/12th of each departments budget except for those actually working through this, such as health. All unnecessary internal reserves recalled. All unnecessary spending cancelled. That would be a couple of hundred million without breaking a sweat. As for climate change, fuck it! If we are not here to enjoy it, what is the point? That's simply the best idea ever! Link to comment Share on other sites More sharing options...
yootalkin2me Posted March 27, 2020 Share Posted March 27, 2020 38 minutes ago, asitis said: Au Contraire, those of us in the South voted our muppets in knowing they'd be shit, just fractionally less shit than those we wanted to keep out ! such is life ! It is as it is :-) Link to comment Share on other sites More sharing options...
Non-Believer Posted March 27, 2020 Share Posted March 27, 2020 13 minutes ago, Donald Trumps said: A fund is to be set up by Treasury to provide investment support The 'Strategic Investment Fund' If it's just used to provide cash flow for chums in the Chamber of Commerce then of course it would be nothing of the sort That's why there has to be Tynwald oversight A bit like the Media Development Fund...? Link to comment Share on other sites More sharing options...
Phillip Dearden Posted March 27, 2020 Share Posted March 27, 2020 1 hour ago, Donald Trumps said: You have it all there Woolley Just imagine, we are previously assured that government reserves were in a healthy state That was bollocks "Bollocks" is a bit rude but I understand where you are coming from. In 2010 IOM Government Total Funds and Reserves was £3bn, in 2019 this had fallen to negative £58m. In fact, if you had thought the NI was ring-fenced, then the other funds and reserves, ie the available ones, would have been negative £972m. This does sound alarming and, indeed, the direction of travel is not optimal. However, much but not all, of the reduction is due to the effect on Pension Scheme Liability calculations of low-interest rates. An optimistic person might have thought this would rectify itself, a bit, in time. Now we have CV, interest rates further down and investment values also falling, I suspect now is not a good time to look at the overall effect on the Government's Balance Sheet. I expect and hope that the interest rate and investment valuation positions will correct themselves but how long this may take is anyone's guess. I don't want to be too alarmist so I suggest that all of the above is a hint that there will need to be some tidying up after the CV episode. In the short-term it is cash that counts and, at Mar 19 the Government had about £400m in cash and deposits and £1.3bn in investments. I suggest that means there is more than enough breathing-space for a slight change of direction. For now, I can see that the priority is keeping the economy going while the crisis persists and hence the use of NI funds. Link to comment Share on other sites More sharing options...
Donald Trumps Posted March 27, 2020 Share Posted March 27, 2020 Ah, that wasn't our money . . . . Link to comment Share on other sites More sharing options...
Donald Trumps Posted March 27, 2020 Share Posted March 27, 2020 1 minute ago, Phillip Dearden said: "Bollocks" is a bit rude but I understand where you are coming from. In 2010 IOM Government Total Funds and Reserves was £3bn, in 2019 this had fallen to negative £58m. In fact, if you had thought the NI was ring-fenced, then the other funds and reserves, ie the available ones, would have been negative £972m. This does sound alarming and, indeed, the direction of travel is not optimal. However, much but not all, of the reduction is due to the effect on Pension Scheme Liability calculations of low-interest rates. An optimistic person might have thought this would rectify itself, a bit, in time. Now we have CV, interest rates further down and investment values also falling, I suspect now is not a good time to look at the overall effect on the Government's Balance Sheet. I expect and hope that the interest rate and investment valuation positions will correct themselves but how long this may take is anyone's guess. I don't want to be too alarmist so I suggest that all of the above is a hint that there will need to be some tidying up after the CV episode. In the short-term it is cash that counts and, at Mar 19 the Government had about £400m in cash and deposits and £1.3trn in investments. I suggest that means there is more than enough breathing-space for a slight change of direction. For now, I can see that the priority is keeping the economy going while the crisis persists and hence the use of NI funds. I wish they had £1.3 trn in investments Wonder what they're worth this week? Link to comment Share on other sites More sharing options...
Andy Onchan Posted March 27, 2020 Share Posted March 27, 2020 1 hour ago, Phillip Dearden said: The ring-fence was a mere psychological barrier. The NI fund was always available to Tynwald - they make the rules. I am sure all MHKs would prefer to leave the NI fund alone but if the money is needed and not used, we (or some of us) would have been critical. Really, the NI fund is just another pot of government money. Using it now will put pressure on future cash flows but I suspect most people will recognise the current environment as being quite exceptional. It's called running out of options. Link to comment Share on other sites More sharing options...
woolley Posted March 27, 2020 Share Posted March 27, 2020 38 minutes ago, On The Bus said: I'm already paying twice for everything. Each little LA Empire has it's own admin set up. Yes. But give it to the civil service and watch those little empires GROW BIG! Link to comment Share on other sites More sharing options...
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