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30% increase in electricity prices


Amadeus

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15 minutes ago, Cambon said:

So, £100 of electricity currently costs £105 with vat. 

15% increase means £115, and then £120.75 with vat.

a further 15% means £132.25, becoming £138.86 with vat,

a 33.86% increase in real terms. 

No. The base is £105 in your calculation. Add 30% to £105.

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40 minutes ago, GD4ELI said:

Technically there was no offence and didn't Tynwald retrospectively approve the loans so they didn't look stupid, after all (as far as I remember) no-one asked where the money came from?

There was no offence to fit, because misconduct in a public office is (still) not in Manx statute.

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On 3/17/2022 at 11:24 AM, Banker said:

What’s your solution to energy prices then? IOMG can’t subsidize it for everyone as the money will have to come from somewhere eg increased taxes!

Negative standing charge and put the unit costs up more. 

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45 minutes ago, GD4ELI said:

Technically there was no offence and didn't Tynwald retrospectively approve the loans so they didn't look stupid, after all (as far as I remember) no-one asked where the money came from?

I believe there were no regulations governing his actions at the time. There are now

https://www.gov.im/media/1366335/financial-regulations-1-july-2020.pdf

So yes, in the eyes of the law/rule-makers he did nothing wrong. Reckless...yes, offence ...no.

 

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1 hour ago, Happier diner said:

I believe there were no regulations governing his actions at the time. There are now

https://www.gov.im/media/1366335/financial-regulations-1-july-2020.pdf

So yes, in the eyes of the law/rule-makers he did nothing wrong. Reckless...yes, offence ...no.

 

I may be wrong but I recall being allowed to repay the company credit card for some holiday or other..... offence yes .... actioned no !

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43 minutes ago, asitis said:

I may be wrong but I recall being allowed to repay the company credit card for some holiday or other..... offence yes .... actioned no !

From memory he had brought his wife along on a 'business trip' and then claimed back for both of them.  There may have been other credit card spending as well.

As to whether he broke any laws is another matter, but what was clear at the time was that there was absolutely no appetite in the government to prosecute - better to have a really lumpy carpet.   Far too many people were compromised by their inaction and inability to stand up to bullying - including Bell and the then Chief Secretary as well as the prominent businessmen on the Board of the MEA (another triumph of pseudo-privatisation).

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Quote

What’s your solution to energy prices then? IOMG can’t subsidize it for everyone as the money will have to come from somewhere eg increased taxes!
 


Start building renewable energy generation capacity asap. The Sustainable Bond money is already in reserves, & presumably vulnerable to the ravages of volatile markets - get some of it spent!

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The boy Ashie is going to make a statement to Tynpotwald in April regarding the cost of living. I doubt any help for the taxpayers will be forthcoming though. The boy Ashie says Government is sensitive to peoples concerns. That’s very debatable.

If they hadn’t made a dogs breakfast of capital projects and irresponsible waste of taxpayers money, many savings to be used for a rainy day could be used. Unfortunately every penny is spoken for, and I’m sure government departments have a wish list of idiotic and pie in the sky schemes.

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