crumlin Posted November 19, 2004 Share Posted November 19, 2004 In the Manx Indy, the Government have stated what the final cost will be to the Taxpayers of the IOM, the sums they have given are wrong or lies. They have forgot to add in the £6.4 million tax break given to the Bank Link to comment Share on other sites More sharing options...
Ringwraith Posted November 19, 2004 Share Posted November 19, 2004 What is the total then? Can't be assed buying the indy when you can tell me for nothing. Link to comment Share on other sites More sharing options...
Ripsaw Posted November 19, 2004 Share Posted November 19, 2004 Hey, don't knock the Indy, at least with the paper you aren't forced to read articles in serialised format. Link to comment Share on other sites More sharing options...
monkey_magic Posted November 19, 2004 Share Posted November 19, 2004 Great thread. Really well explained. Link to comment Share on other sites More sharing options...
Billy One Mate Posted November 19, 2004 Share Posted November 19, 2004 Was getting a bit confused so I thought I should tell you the story so far DoLGE build an incinerator at a cost of 45 million paid for by taxpayers money Supposedly four years ago it was agreed that DoLGE would sell the Incinerator to the Isle of Man Bank and lease it back at ?? amount per year which would end up with a total cost to the manx taxpayer of 86 million. Governments reason for doing this is that if they had borrowed the money it would have cost 89 million with this also being subject to possible intrest rises. Crumlin though is alledging that its not just 86 million because as part of the deal with the bank they have been offered some tax incentives. The big question I have over this policy of building Capital projects on the never never is that we are now in real terms spending more than our income which I thought was not the way the Island operated in other words if we dont have the Cash we dont do it. The recent history is begining to concern me ie Bonds for both the water authority and the MEA and borrowing money from the NI account for the new hospital. This policy can work as long as your income is sufficient to meet the intrest payments but what happens if it isnt. And another thing!!!!!!! What is the life expectancy of the incinerator. If its only 25 years then we would have a worthless building when we own it. Link to comment Share on other sites More sharing options...
ans Posted November 19, 2004 Share Posted November 19, 2004 Thread does not deliver. Link to comment Share on other sites More sharing options...
crumlin Posted November 20, 2004 Author Share Posted November 20, 2004 Billy In Tynwald it was said that the lease was for the life span of the Incinerator, which is twenty five years, it is to be reverted back to open land after this and that is what the Government is buying Link to comment Share on other sites More sharing options...
Observer Posted November 20, 2004 Share Posted November 20, 2004 ......it is to be reverted back to open land after this.... Eh????? And then what? Build another one? Go back to dumping rubbish in the land?? The mind boggles. Link to comment Share on other sites More sharing options...
Ripsaw Posted November 20, 2004 Share Posted November 20, 2004 The big question I have over this policy of building Capital projects on the never never is that we are now in real terms spending more than our income which I thought was not the way the Island operated in other words if we dont have the Cash we dont do it. The recent history is begining to concern me ie Bonds for both the water authority and the MEA and borrowing money from the NI account for the new hospital. This policy can work as long as your income is sufficient to meet the intrest payments but what happens if it isnt. See the Zero Tax Thread. Link to comment Share on other sites More sharing options...
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