Alf Cannan's I Have A Dream

[Omobono]

6 hours ago, Non-Believer said:

Have I really just heard on MR News that Treasury has failed to provide a PAC investigation with unaudited Govt accounts? With Allinson claiming that it's too much work to compile and supply?

they should have figures on an almost weekly basis , after all departments have to advise treasury on the rate of burn of their budget and  any treasury minister worth his salt will have a finger on the pulse of government capital spending  ,and when required pull the departments up if he fears they are going over budget , particularly before it happens  and not after ,  as we have recently seen with the huge overspends ,  hence the need to raid the reserves 

[Moghrey Mie]

20 hours ago, Mercenary said:

Why does anything Waste sit with DOI?

 

DEFA set the policy/legislation, do loads of other pollution monitoring, manage waste licenses, control demolitions, and err... generally look after the environment? Having them separate just encourages one Department to set unrealistic constraints to another and wash their hands of it.

Because they have a section called 'Waste Management' and DOI sets the waste policy.

[asitis]

19 hours ago, Omobono said:

hence the need to raid the reserves 

Serious question, which bit of the reserves are they raiding ? Not the NI fund is it ?

[Numbnuts]

17 minutes ago, asitis said:

Serious question, which bit of the reserves are they raiding ? Not the NI fund is it ?

Chris Thomas said the NI fund was ring fenced and couldn’t be touched. Believe it has though 

Edited September 29, 2023 by Numbnuts

[Anyone]

I don’t think the NI fund is ring fenced. 

[Numbnuts]

Just now, Anyone said:

I don’t think the NI fund is ring fenced. 

Well that as may be but am sure that Chris Thomas said it was be it a few years ago . It was in relation to a convo about state pensions. 

[Numbnuts]

3 minutes ago, Anyone said:

I don’t think the NI fund is ring fenced. 

Dr Allinson says it could only be done with Tynwald consent as the fund is ringfenced to ensure government can pay the state pension.

August this year . 
 

[Anyone]

Ah , the State Pension. A Ponzi scheme I’m afraid. 

[Blade Runner]

1 minute ago, Anyone said:

Ah , the State Pension. A Ponzi scheme I’m afraid. 

The reserves include the NI fund, about half of it from memory  on the back of the recent radio interview/ statement i listened to.

The statement on the MR News at the beginning of the week said something along the lines of if we keep blowing £150million from reserves that exclude NI stuff they will run out of money in about 5 years. 

I am 90% sure  DocDeath said they "only" need £85million next year from reserves so everyone is hunky dory....

The above is a very rough take on a radio interview/ statement where the reception kept cutting out under motorway bridges and anyone is welcome to correct me..

[asitis]

1 hour ago, Anyone said:

Ah , the State Pension. A Ponzi scheme I’m afraid. 

It is without doubt, but it won't implode if Government keep their grubby little mitts out of it !

Of course even since the days of that intellectual colossus Tony Brown and his free hospital, I feel the cookie jar has had the lid off !

Once again Government cannot be trusted fiscally here actually anywhere else come to think of it.

Edited September 29, 2023 by asitis

[Banker]

1 hour ago, asitis said:

Serious question, which bit of the reserves are they raiding ? Not the NI fund is it ?

No , government has something like £1.6bn reserves so liquid reserves being used to fund services which otherwise would need cutting.

However going forward then either taxes income needs to go up by increasing residents and/or increasing taxes, more borrowing or more reserves utilization or combination of all 

[2112]

If the reserves were pissed against the wall, or government finances, you can be assured that the GMP will suffer, whilst Manx civil servants and ex MHKs/MLCs will still get their pensions and lump sums. I can’t see civil servants taking one for the team either. 

[asitis]

1 hour ago, Banker said:

No , government has something like £1.6bn reserves so liquid reserves being used to fund services which otherwise would need cutting.

However going forward then either taxes income needs to go up by increasing residents and/or increasing taxes, more borrowing or more reserves utilization or combination of all 

I agree but perhaps less stupidity and profligacy on behalf of government could help too !

[Omobono]

but money taken from reserves looses its ability to earn interest and particularly now  when rates are so high  its effectivly a double whammy  loose loose !

it used to be against the law for Tynwald to approve a deficit budget but sadly all resemblance of financial control  and keeping within  your budget seems to be out of control,  perhaps Dr Allinson should be prescribed some testosterone so he can grow a pair before the money runs out ,

[Banker]

13 hours ago, Omobono said:

but money taken from reserves looses its ability to earn interest and particularly now  when rates are so high  its effectivly a double whammy  loose loose !

it used to be against the law for Tynwald to approve a deficit budget but sadly all resemblance of financial control  and keeping within  your budget seems to be out of control,  perhaps Dr Allinson should be prescribed some testosterone so he can grow a pair before the money runs out ,

Which service would you cut to stop reserves use this year & next. Healthcare or education or buses  , has to be massive cuts . Guernsey are in worse position & surveying residents to ask what should be cut