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Windfarm could cost up to £40 million


Major Rushen

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1 hour ago, Non-Believer said:

They didn't question it because they didn't know. They had sanctioned the building of the facility for the budgeted £185M.

Proffit didn't advise Treasury of his unauthorised doings outwith of the Electricity Act and Treasury, including then TM Bell, didn't maintain any scrutiny or due diligence in oversight of the project or its finances.

Bell claimed that Treasury had no knowledge of the establishment of the loans during the Inquiry though it was also noted that his name was completely absent within the Inquiry findings. Most convenient. Proffit was unable to be interviewed by the Police courtesy of restrictions imposed by the then AG. Most convenient.

Nobody involved at any senior or political level faced any sanction whatsoever and walked away intact. A pity the same cannot be said for the taxpayers finances.

The taxpayers finances were unaffected. The project, being over budget like most projects unfortunately needed money to complete it and would have to have been found by whatever mechanism.

A bit of an unorthodox route for sure, but a half built power station is no use to anyone. People tend to forget that.

Nobody ran off with any loot in a swag bag.

Proffit may have been profligate with the company credit card but that’s not a consequence of using a different ( but ultimately the same) source of borrowing.

 

Edited by The Voice of Reason
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39 minutes ago, The Voice of Reason said:

Proffit may have been profligate with the company credit card but that’s not a consequence of using a different ( but ultimately the same) source of borrowing.

Profligate, good word, pity the judiciary didn't get the chance to opine on his profligacy !

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47 minutes ago, The Voice of Reason said:

The taxpayers finances were unaffected. The project, being over budget like most projects unfortunately needed money to complete it and would have to have been found by whatever mechanism.

A bit of an unorthodox route for sure, but a half built power station is no use to anyone. People tend to forget that.

Nobody ran off with any loot in a swag bag.

Proffit may have been profligate with the company credit card but that’s not a consequence of using a different ( but ultimately the same) source of borrowing.

 

You really are clueless. The financial fallout from this was dumped on the taxpayers in the form of increased electricity standing charges and the "Toilet Tax" (as was originally titled), which began as an extra £150 on the annual Rates demand of every household and business on the Island and which has increased to over £200 since then, albeit being combined and retitled to other things as well (to further disguise its source, some might say).

If that's not affecting everybody's finances then I don't know what is.

The credit card business was a minor offence that's nothing more than a distraction.

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19 minutes ago, Non-Believer said:

You really are clueless. The financial fallout from this was dumped on the taxpayers in the form of increased electricity standing charges and the "Toilet Tax" (as was originally titled), which began as an extra £150 on the annual Rates demand of every household and business on the Island and which has increased to over £200 since then, albeit being combined and retitled to other things as well (to further disguise its source, some might say).

If that's not affecting everybody's finances then I don't know what is.

Every bit of Government or Council spending on capital items affects everybody’s finances. Like I posted it has to be found from somewhere. My comment that the taxpayers finance were unaffected if you read it properly was to say that it would have to be provided to repay the loan wheresoever it was borrowed from.

It’s got to be paid for and I’m sorry to have to tell you the magic money tree doesn’t exist.
Thats not being clueless.

Do you still believe in Father Christmas?

 

Edited by The Voice of Reason
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5 minutes ago, The Voice of Reason said:

Do you still believe in Father Christmas?

Who smells of poo now? 

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