Mercenary Posted February 22, 2023 Share Posted February 22, 2023 2 hours ago, offshoremanxman said: It’s a poor show for MLP to vote for meaningless changes to the islands highest earners whilst everything that impacts low and mid earners has just gone up. They’ll be back to virtue signaling about silly green issues and strikes as a smoke screen though. TIDs - Tories In Disguise. Saw Joney saying we should scrap the 'budget to balance' concept and just run a big deficit. Inflation ramping up further and future budgets saddled with 10-20% of budget for interest servicing being a minor associated detail. 1 Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted February 22, 2023 Share Posted February 22, 2023 21 minutes ago, Two-lane said: Is there a graph or data showing the amount of the IoM reserves over the last 10 or 20 years? A good question, as is the question of what actually constitutes "reserves". Various claims in the recent past from politicians of a billion under investment in reserves, others claim that this figure includes the value of some Island public infrastructure. Whatever the financial reserves are, they've certainly been consistently drawn upon for the last 11 years at least. And there's the £400M loan taken out on top of that. Quote Link to comment Share on other sites More sharing options...
offshoremanxman Posted February 22, 2023 Share Posted February 22, 2023 26 minutes ago, Mercenary said: Saw Joney saying we should scrap the 'budget to balance' concept and just run a big deficit. Inflation ramping up further and future budgets saddled with 10-20% of budget for interest servicing being a minor associated detail. None of them have a clue. It’s the most ridiculously naive detached from realty MLP we’ve seen in years. All they seem interested in is strikes and getting attention for themselves. They could have at least even qualified why they voted for this budget which forces a lot of extra strain on low income working people - but nothing. 2 Quote Link to comment Share on other sites More sharing options...
Asthehills Posted February 22, 2023 Share Posted February 22, 2023 5 minutes ago, Non-Believer said: A good question, as is the question of what actually constitutes "reserves". Various claims in the recent past from politicians of a billion under investment in reserves, others claim that this figure includes the value of some Island public infrastructure. Whatever the financial reserves are, they've certainly been consistently drawn upon for the last 11 years at least. And there's the £400M loan taken out on top of that. Have the amounts withdrawn from reserves exceeded how much the reserves have grown by though? If I had a million invested and took out 100k a year, that doesn’t necessarily mean the fund is reducing. Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted February 22, 2023 Share Posted February 22, 2023 1 hour ago, Asthehills said: Have the amounts withdrawn from reserves exceeded how much the reserves have grown by though? If I had a million invested and took out 100k a year, that doesn’t necessarily mean the fund is reducing. Given some of the annual sums that have been drawn down (£153M in this Budget alone) and the various other long millions used to "balance" the Budgets over the previous Teare and Cannan tenures, we would be receiving remarkable returns on investments if they've been equalled. Given that there's also the @ £500M annual FERSA rebate too, it's a pointer to how much the Island is spending that Treasury needs to be making these draw downs. And indeed, what we have to tangibly show for all the expense? 1 Quote Link to comment Share on other sites More sharing options...
2112 Posted February 22, 2023 Share Posted February 22, 2023 (edited) Daffy has been having a moan on the NPM, complaining that as Chair of the Climate Change Transformation Board, she was not consulted as to what was in the budget. Other members of the Board, who are also COMIN members didn’t tell Daffy details of the budget. She has in all honesty got extra funding the budget, but I get the impression that everything is all about Daffy, and the Board comes a close second. Edited February 22, 2023 by 2112 Quote Link to comment Share on other sites More sharing options...
Moghrey Mie Posted February 22, 2023 Share Posted February 22, 2023 35 minutes ago, 2112 said: Daffy has been having a moan on the NPM, complaining that as Chair of the Climate Change Transformation Board, she was not consulted as to what was in the budget. Other members of the Board, who are also COMIN members didn’t tell Daffy details of the budget. She has in all honesty got extra funding the budget, but I get the impression that everything is all about Daffy, and the Board comes a close second. 35 minutes ago, 2112 said: Daffy has been having a moan on the NPM, complaining that as Chair of the Climate Change Transformation Board, she was not consulted as to what was in the budget. Other members of the Board, who are also COMIN members didn’t tell Daffy details of the budget. She has in all honesty got extra funding the budget, but I get the impression that everything is all about Daffy, and the Board comes a close second. I'd have thought it was up to Mrs Caine to ask for a meeting with treasury members when they were preparing the budget. 1 Quote Link to comment Share on other sites More sharing options...
2112 Posted February 22, 2023 Share Posted February 22, 2023 4 minutes ago, Moghrey Mie said: I'd have thought it was up to Mrs Caine to ask for a meeting with treasury members when they were preparing the budget. Common sense doesn’t always apply. Quote Link to comment Share on other sites More sharing options...
Sheldon Posted February 22, 2023 Share Posted February 22, 2023 15 hours ago, slinkydevil said: Budget day tomorrow. What's everyone expecting? 🤔 Today is yesterday's tomorrow. Quote Link to comment Share on other sites More sharing options...
jackwhite Posted February 22, 2023 Share Posted February 22, 2023 7 hours ago, Blade Runner said: How many on the rock earn more than £130k? with spouses on £70k +? Roger? I cant see this raising much TBH Around £3M according to Allinson at Budget Breakfast this morning. Quote Link to comment Share on other sites More sharing options...
Nom de plume Posted February 22, 2023 Share Posted February 22, 2023 I listened to John Webster reviewing the budget and making commentary. The guy speaks a lot of sense, particularly in regard to taxing those who own multiple properties. Until we have property affordability there is zero incentive for young hardworking folk to relocate here. Affordable housing is ground zero. 2 3 Quote Link to comment Share on other sites More sharing options...
Albert Tatlock Posted February 22, 2023 Share Posted February 22, 2023 All Joney Faragher came up with is 'borrowing more'. Until they cut the bloat not one penny should be borrowed IMO. Not one of them has got the guts to cut...again, all of them career merchants now...even Stu Peters...who a pound to a pinch of shit says will be out on his arse next time..never seen a quicker lobotomy! It's like watching 'Stepford Husbands'. 2 2 Quote Link to comment Share on other sites More sharing options...
Moghrey Mie Posted February 22, 2023 Share Posted February 22, 2023 26 minutes ago, Nom de plume said: I listened to John Webster reviewing the budget and making commentary. The guy speaks a lot of sense, particularly in regard to taxing those who own multiple properties. Until we have property affordability there is zero incentive for young hardworking folk to relocate here. Affordable housing is ground zero. Build more modern houses. 1 Quote Link to comment Share on other sites More sharing options...
Andy Onchan Posted February 22, 2023 Share Posted February 22, 2023 7 hours ago, Non-Believer said: £153M further raid on reserves, to "avoid cuts in services". And....the Cash Cows are now being milked as everybody suspected that they would. But let's not forget who's feeding those cows. It's every man woman and child on the Island who are paying the increased postal charges and buy anything that comes onto the Island via the freight channels. We, the public are not just bring milked via this process too - we are being bent over a barrel and penetrated. In the grand scheme of things the £1million divi from IOMSPCo is peanuts (yes I know, it would pay for a few nurses if there are any out there). Treasury should have IOMSPCo provide a limited period/out of season non-resident discounted tourist fares scheme and start getting bums in IOM beds. People = money. 2 Quote Link to comment Share on other sites More sharing options...
asitis Posted February 22, 2023 Share Posted February 22, 2023 4 minutes ago, Andy Onchan said: In the grand scheme of things the £1million divi from IOMSPCo is peanuts (yes I know, it would pay for a few nurses if there are any out there). Treasury should have IOMSPCo provide a limited period/out of season non-resident discounted tourist fares scheme and start getting bums in IOM beds. People = money. I thought the SPCO made about 12.5 million a year when the buyout was promulgated, or did I imagine that figure ? 1 Quote Link to comment Share on other sites More sharing options...
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