x-in-man Posted February 17, 2009 Share Posted February 17, 2009 Thanks Albert Link to comment Share on other sites More sharing options...
John Posted February 17, 2009 Share Posted February 17, 2009 Cheers Albert Link to comment Share on other sites More sharing options...
Slim Posted February 17, 2009 Share Posted February 17, 2009 State benefits not to be taxed. Redefining job seekers as a taxable benefit. All state benefits? They removing the tax on child allowance then? Link to comment Share on other sites More sharing options...
Albert Tatlock Posted February 17, 2009 Author Share Posted February 17, 2009 CANNAN: Runway extension has cost £2.5M more. 40% dependent on finance sector. Also now heavily dependent on UK govt performance and actions. Collapse of KSF has caused major problems and anger, here and across the world. 3 collapses - SIB 1982, 1990 BCCI, now KFS. Setting up FSA hoped would end collapses! Government revenues falling. Customs and excise inc VAT was £430M, now £408.5 million. Income tax fall £175M to £165M expected. Many people feeling drop in investments (5% down to 1%) - 80% fall in income. This is hurting people and feeling the pinch. Money not being spent in economy. Spending £572M reduction by £15M. Income over expenditure £220K. Need to curb unecessary expenditure. Needs to be a culture (spending) change. Difficult times, difficult to forecast future. Revenue falling, investment income falling and expensiture remains same. Spending must be curtailed in future. KSF damaing reserves. Priority should be to promote business and opportunities. Decline and decay not an option. Link to comment Share on other sites More sharing options...
Tempus Fugit Posted February 17, 2009 Share Posted February 17, 2009 iomtoday's link says http://www2,iomtoday.co.uk/pdfs/BUDGET_SPEECH_FINAL.pdf spot the deliberate mistakes http://www2.iomtoday.co.uk/pdfs/budget_speech_final.pdf seems to work though ! Link to comment Share on other sites More sharing options...
Albert Tatlock Posted February 17, 2009 Author Share Posted February 17, 2009 HENDERSON: Most critical debate of this year and next. Balancing budget a considerable achievment. Need to see: Security and consolidation of finances and drive for VFM. Need brave initiatives. Need to build not just protect economy. KSF pressure increasing to breaking point. Need to do right for island - not govt departments. Too worried about upsetting the neighbours. We are 'full on in the radar'. Gordon Broon plans crack down - crack down crack down. As does Obama. As does G20 summit. Support additional Offshore becoming scape-goat. Fat-cats/bonues effectively criminal. No legislation just posturing to counter this. This govt PR machinary has failed miserablty. Money wasted and ineffective on PR. We have stuffed our heads in the sand - underestimate these people at our peril. IOM misunderstood e.g. Guardian. Uninformed reports. Accuracy of reporting shocking esp Guardian. We are a political target of convenience that can't fight back. CM should have driven this, but has played careful card. Gift of a chance missed. CM has to fight back and stand up to bullying UK and US, reputation at stake. Leadership style needs to be reviewed. Need VFM and savings, but need to drive the economy - balancing act needed. Need to look after workforce as a priority. Manx jobs for the Manx. Work permit needs to be maintained and strengthended - not wartered down. Will not hesitate to fight against any weakness of WP system. 2011 comonwealth games should push clubs and charities to support it. Enthusiastic luke warm. Retraining needs to be supported. Job seekers allowance tax exempt welcomed. Fat cats - yada yada...people need to go to prison if necessary etc. Blizzard of emails on KSF. Know real work going on around KSF on the money frozen in London. IOM last in queue to sort this out. Support reduction in loan charge interest. Govt spending: Rationalisation and saving on money not given high enough priority. Too much management levels and large salaries. DoT needs a treasury audit. DTL does not need chief exec. Does not require such resourcing and needs to move to DTI to make it better. HR functions doubling up and costing more money. Health service - waiting lists are growing. Needs to fight harder for money. Dental is a mess - waiting list is a shambles. Again down to resources. Treasury putting DHSS under pressure, management by blind panic. Fancy title posts mushruming. DoT - QB, flyovers - all has to stop. DoT needs restraining. Good times over. Pensions deficit. Nothing tangible, almost a national emergency. Path decided needed to involve all staff. Changes should not be at expense of people currently employed. Need new business - need something larger and sooner - not just shipping and aircraft register. 'Heads down and hope it all goes away' approach. No entrepenarial drive. We have to go out and 'mine' business out for ourselves. Standing still not a good approach. Link to comment Share on other sites More sharing options...
Albert Tatlock Posted February 17, 2009 Author Share Posted February 17, 2009 DOWNEY: Island has thriving clusters - shipping, space and e-business/commerce. E-gaming line employs 650 people supports a wage bill of £28M. Structural changes expected in finance sector. E-business improving generally. Music piracy is rife, IOM suggest method of avoiding it by payment to rights holders. Lots of inovative work going on. Spacve industry growing, SES, Inmarsat and others. Tech optic made components for Mars lander - finding snow on Mars. Space benefit £25M with another £14M projected. KPMG analayis shows private sector also benefited - expected by £317M in next 3 years. ...zzzzzzz...waffle waffle... Have to be go ahead and innovative to attract new business. Credit crunch won't last forever and we need to expand and diversify economy. Support budget. Link to comment Share on other sites More sharing options...
Albert Tatlock Posted February 17, 2009 Author Share Posted February 17, 2009 TEARE: Support and welcome budget. Especially support on DHSS. Treasury done utmost to maintain spending. Credit to IOM govt. Nothing cut. More delivered than ever before. Not complacement and more must be done to reduce spending and increase VFM. Resources scarce, and budget will be applied effectively. Confirm that in-patient facilities support (drug and alcohol) will be open 24/7. Exploring operation by external agency. Need to reconfigure service delivery. Increasingly aging community tough. Finite budgets - challenge to spread resources thinner and further. Productivity has increased without compromising patient safety. No new services or benefits. Any increase in unemployment will put pressure on NI receipts. Claiments already exceeds that expected. Dental practioners difficult to recruit. Exploring different ways to deliver service. Care at home under same budget being explored. Must need to accept change. Welcome those accepting change. Commends budget. Link to comment Share on other sites More sharing options...
Albert Tatlock Posted February 17, 2009 Author Share Posted February 17, 2009 EARNSHAW: Welcome drug and alcohol initiative. Dept working hard for projected for capital building projects - inc maintenance programms. Some additional money provided by treasury for that. Link to comment Share on other sites More sharing options...
Tempus Fugit Posted February 17, 2009 Share Posted February 17, 2009 imagines Albert in the Tynwald public gallery with lightning fingers on a blackberry Link to comment Share on other sites More sharing options...
Albert Tatlock Posted February 17, 2009 Author Share Posted February 17, 2009 CALLISTER: Don't like Bells wording on KSF needs elaborating. QB roundabout cancelled welcomed - hope it's not just postponed! Annual Salary of £300M salary for govt. Need reduction in those employed by govt - natural wasteage not reducdancy. All needs careful examination. Would also assist in pension problems in future. 1/5 of workers working for govt. Creation of work for construction industry needed. Local labour needs to be used. Should not be importing labour. Work permit system - Cretney likely to be most vigilant on ensuring local labour used. Including finance sector. Pink book: interest on investments £1.9M - projected £10M in next year - where does that come from. Bell needs to explain. IOM will deal with probs well in future. Link to comment Share on other sites More sharing options...
piebaps Posted February 17, 2009 Share Posted February 17, 2009 State benefits not to be taxed. Redefining job seekers as a taxable benefit. All state benefits? They removing the tax on child allowance then? No. Just on jobseekers. See here. http://www.gov.im/lib/docs/treasury/income...et2009final.pdf Link to comment Share on other sites More sharing options...
Albert Tatlock Posted February 17, 2009 Author Share Posted February 17, 2009 LOWEY: 30 years ago - tough times were really tough. Bell - global problems - local solutions. We are not immune from the outside world. World in a mess financially. BBC enjoy a crisis e.g. bird flu. News feed affects mood. 3rd largest country Japan - 5% drop in GDP, US 1.5%. Will this budget succeed? This budget a calming influence. We are in growth and in a favourable position, but we are right to be cautious. VAT agreement and cut affecting us. Budget sound and welcome of support and will steer us through difficult times. Unemployment to 2.2% - was 8 and 9% at one time - winter works etc. 46,000 people in work. UK unemplyment rising to 6%. We have achived a lot. Budget does defend employment - which is welcomed. Right for us to be part of international world, where (Henderson) 'we have been keeping our heads down'. We have been working hard to be part of international community. We ran away from regulation for years, but have now regognised we have to be part of that. Quality is what we need - in films, space whatever. Wecome £1M for sports. Hope will be used for capital scheme towards Bowl. Where in pink book is lottery money? We are in receipt of £600K, lottery duty allocation not allocated in 2009/10, £800K. Commonwealth yoof games need to be supported and work with Town Hall on bowl. Annual expenditure on jobs welcomed. No groups are exempt from repercussions on spending. We need to accept more change and adapt. MEA - we are ahead of schedule and they are innovative and thinking in a national way - esp cable and fibre. Budget should be welcomed. Fair, delaing reasonably with existing. Support budget 100%. Link to comment Share on other sites More sharing options...
Albert Tatlock Posted February 17, 2009 Author Share Posted February 17, 2009 LUNCH TIME. Tynwald back at 2.25pm. Link to comment Share on other sites More sharing options...
Albert Tatlock Posted February 17, 2009 Author Share Posted February 17, 2009 INDUSTRY COMMENTS (paraphrasing): Hollis - Royal Skandia. Budget shows strenght of local economy. Devil in detail - all based on estimates - which could change. Good to see marketing inititaive investment. Gaming sector and manufacturing generating additional employment. Expansion in other sectors - more balanced portfolio than 5 years ago. People's aspirations need to change - salary scales have increased significantly than UK counterparts. IOM needs Gelling - IOM bank. Lots of unknowns in next 12 months. Diversification important, some sectors still growing. G20 and other reviews a threat, reporting important in a balanced way. We feel vulnerable at moment, press not doing us any favours. Lynehan - Hamlin. Defensive budget. Next 12 months can't be predicted. Cautious and sensible. Built in flexibility in case of change. Projects for growth are positive. Growth expected at 2.5%, so we need to keep economy going ahead. Year of transition. Job Market: a year of transition. Finance sector going to be laying people off. Work permits - need to balance bringing in specialist skills. Right to look at Work permits though. Year of transition, people need to consider moving to growth sectors. Embrace changes don't just wait to be hit. Link to comment Share on other sites More sharing options...
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