Banker Posted May 22 Share Posted May 22 8 hours ago, Non-Believer said: UK economic news this morning is focusing on the fall in inflation figures to 2.3%, there's also been additional figures posted up indicating that UK CPI has risen by just in excess of 20% since 2021. I wouldn't be at all surprised if the Island's rate exceeded that with rises in electricity and taxes. There will be very few people on Island (certainly in the private sector) whose payrises over that period match that level of commodity increase which will have resulted in a reduction in disposable income. Jeremy Hunt has this morning also claimed that rises in UK allowances and circumstantial Govt financial assistance to the population has alleviated the "worst of the effects" of this 20%+. Has there been any such Govt assistance to the population of the Island during this period, they are currently denying hospitality such? Inflation in Iom for same period was 2.2% so slightly less than UK., overall we have generally been just lower .child benefits went up substantially in budget this year which helped families. Tax free allowance should have gone up but didn’t. IMF and most forecasters are predicting UK tax rate will undoubtedly rise next year as there’s a 30£bn fiscal deficit coming caused by the NI reductions which will soon rise to pay for everything. Quote Link to comment Share on other sites More sharing options...
Cambon Posted May 22 Share Posted May 22 12 minutes ago, Banker said: Inflation in Iom for same period was 2.2% so slightly less than UK., overall we have generally been just lower .child benefits went up substantially in budget this year which helped families. Tax free allowance should have gone up but didn’t. IMF and most forecasters are predicting UK tax rate will undoubtedly rise next year as there’s a 30£bn fiscal deficit coming caused by the NI reductions which will soon rise to pay for everything. I watched an interesting report on CNBC this morning. UK goods and services inflation was 2.3%, as you know. But they broke it down. Services inflation was 6%. Goods was actually deflationary at -0.9%. So in essence, prices are coming down slightly. Quote Link to comment Share on other sites More sharing options...
Andy Onchan Posted May 22 Share Posted May 22 Not sure if anyone has posted this or not but: https://www.manxradio.com/news/isle-of-man-news/financial-assistance-for-hospitality-businesses-over-tt-period/ Quote Link to comment Share on other sites More sharing options...
Anthony Ingham Posted May 22 Share Posted May 22 17 minutes ago, Andy Onchan said: Not sure if anyone has posted this or not but: https://www.manxradio.com/news/isle-of-man-news/financial-assistance-for-hospitality-businesses-over-tt-period/ Can someone explain what the hell this means please? ”It will enable businesses to claim additional payments to give to staff who are working in excess of 37 hours per week.” Quote Link to comment Share on other sites More sharing options...
Banker Posted May 22 Share Posted May 22 46 minutes ago, Anthony Ingham said: Can someone explain what the hell this means please? ”It will enable businesses to claim additional payments to give to staff who are working in excess of 37 hours per week.” It means taxpayers money is being given help pubs over TT when they will be raking it 8n anyway!! 3 Quote Link to comment Share on other sites More sharing options...
2112 Posted May 22 Share Posted May 22 1 hour ago, Andy Onchan said: Not sure if anyone has posted this or not but: https://www.manxradio.com/news/isle-of-man-news/financial-assistance-for-hospitality-businesses-over-tt-period/ Confusing to say the least, and only for TT period. This flies in the face of CM Cannans comments made yesterday. 1 Quote Link to comment Share on other sites More sharing options...
Gizo Posted May 22 Share Posted May 22 4 minutes ago, Banker said: It means taxpayers money is being given help pubs over TT when they will be raking it 8n anyway!! Tax the homeowner scheme which will cover the costs then. Quote Link to comment Share on other sites More sharing options...
Albert Tatlock Posted May 22 Share Posted May 22 3 minutes ago, 2112 said: Confusing to say the least, and only for TT period. This flies in the face of CM Cannans comments made yesterday. They're panicking. The rest of the business sectors will demand more too...quite rightly IMO. They haven't analysed the overcapacity in many areas of the hospitality sector. 1 Quote Link to comment Share on other sites More sharing options...
Banker Posted May 22 Share Posted May 22 Just now, Gizo said: Tax the homeowner scheme which will cover the costs then. Well we don’t know costs so you don’t know and we don’t know rents received from home stay either Quote Link to comment Share on other sites More sharing options...
Anthony Ingham Posted May 22 Share Posted May 22 2 minutes ago, Gizo said: Tax the homeowner scheme which will cover the costs then. Dont do that, because we need more accommodation Quote Link to comment Share on other sites More sharing options...
Gizo Posted May 22 Share Posted May 22 2 minutes ago, Anthony Ingham said: Dont do that, because we need more accommodation No we don’t 1 Quote Link to comment Share on other sites More sharing options...
Anthony Ingham Posted May 22 Share Posted May 22 8 minutes ago, Banker said: It means taxpayers money is being given help pubs over TT when they will be raking it 8n anyway!! That is what I guessed. So they are getting a handout at their busiest time of the year whether they are struggling or not , while other local businesses which could also be struggling have to close for the two weeks and still pay their staff get no help at all? Our government are morons. Who is actually the most successful business person with real world experience in the civil service or our joke of a government, because it’s time they stood up and were listened to. Quote Link to comment Share on other sites More sharing options...
Anthony Ingham Posted May 22 Share Posted May 22 Just now, Gizo said: No we don’t What makes you say that? Quote Link to comment Share on other sites More sharing options...
Numbnuts Posted May 22 Share Posted May 22 (edited) Wonder if this is to help business to fully function staff wise over what is a really busy time. I know when I worked over TT on bars etc people were dropping like fly’s by the end of the fortnight and nothing would get them to work more. Physically good hard working bar staff would be wrecked . Edited May 22 by Numbnuts 1 Quote Link to comment Share on other sites More sharing options...
CallMeCurious Posted May 22 Share Posted May 22 One might be cynical and suspect Treasury wanted them to stop whining about VAT for the fortnight so they can enjoy the TT in peace. Maybe those outfits who took non-refundable deposits and damaged the reputation of the event a few years ago ought not to be included. Just saying. Guess the squeaky wheel gets the cash. Quote Link to comment Share on other sites More sharing options...
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