Your pension to be used to fund the NHS from 2024?

[FANDL]

Please do give the feed of @christhomasiom a read on X today.

It seems that after Treasury’s failed tax raid on low income workers in the budget, and Manx Care’s subsequent blowing of the enhanced budget by £40M in just six months, Dr Allinson may well now be seeking approval to steal from taxpayers state pensions in the October Tynwald with plans to re-draw (or re-align in civil servant double-speak) the existing terms of the IOM NI Fund (that’s ordinarily peoples retirement savings to be clear). Presumably to fund his proposed NHS levy to generate even more money for our inefficient and failing healthcare system. 

The link to the paper that is going to Tynwald is here:

http://www.tynwald.org.im/spfile?file=/business/opqp/sittings/20212026/2024-GD-0081.pdf

The relevant part of the paper is reproduced below.

Government has finally outgrown what we can support as deductions from our own direct incomes and the final raid on accumulated inter-generational assets that are currently ringfenced to provide for most Manx peoples retirement is now clearly in play. No doubt several generations of ring-fenced cold hard £ cash will be swapped for more IOM government magic beans in this proposed “re-alignment”.

 

Edited Wednesday at 12:57 PM by FANDL
inter-generational

[Non-Believer]

Strange how there wasn't and isn't the same enthusiasm and impetus to realign the below. Bearing in mind these figures are nearly 3 years old and will have worsened since they were published.

Edited Wednesday at 01:34 PM by Non-Believer
Typo

[cissolt]

16 minutes ago, Non-Believer said:

Strange how there wasn't and isn't the same enthusiasm and impetus to realign the below. Bearing in mind these figures are nearly 3 years old and will have worsened since they were published.

So is it a ponzi scheme?  I can't see any other reason for the exponential growth in government headcount 

[MadAsHell]

51 minutes ago, Non-Believer said:

Strange how there wasn't and isn't the same enthusiasm and impetus to realign the below. Bearing in mind these figures are nearly 3 years old and will have worsened since they were published.

The defined benefit scheme should have closed years ago.

[woolley]

Is there anything new? Those aims around the reserves have been around for some time, and I don't see anything on Chris Thomas X.

(see below)

Edited Wednesday at 03:52 PM by woolley
Tweets now showing.

[FANDL]

1 hour ago, Non-Believer said:

Strange how there wasn't and isn't the same enthusiasm and impetus to realign the below. Bearing in mind these figures are nearly 3 years old and will have worsened since they were published.

We no longer have a government that is capable of looking after our interests. It just looks after its interests. The above looks like it is lining up to just turn over (sorry “realign”) assets currently ring fenced for the benefit of those taxpayers who paid into the pot to those who have emptied every other pot we ever had and continue to do so. The forecast deficit this year is £100M from reserves and they still can’t find 10p down the back of a sofa to save so they now want to create a hammer to smash the public piggy bank with. Would any sane person pin their retirement hopes or expectations on folk with such an abysmal track record in managing money and balancing books? 

[woolley]

21 minutes ago, FANDL said:

We no longer have a government that is capable of looking after our interests. It just looks after its interests. The above looks like it is lining up to just turn over (sorry “realign”) assets currently ring fenced for the benefit of those taxpayers who paid into the pot to those who have emptied every other pot we ever had and continue to do so. The forecast deficit this year is £100M from reserves and they still can’t find 10p down the back of a sofa to save so they now want to create a hammer to smash the public piggy bank with. Would any sane person pin their retirement hopes or expectations on folk with such an abysmal track record in managing money and balancing books? 

Yes, see Thomas tweets now. Fully agree. Not a surprise.

[Andy Onchan]

23 minutes ago, FANDL said:

We no longer have a government that is capable of looking after our interests. It just looks after its interests. The above looks like it is lining up to just turn over (sorry “realign”) assets currently ring fenced for the benefit of those taxpayers who paid into the pot to those who have emptied every other pot we ever had and continue to do so. The forecast deficit this year is £100M from reserves and they still can’t find 10p down the back of a sofa to save so they now want to create a hammer to smash the public piggy bank with. Would any sane person pin their retirement hopes or expectations on folk with such an abysmal track record in managing money and balancing books? 

If they emptied the imported Directors of This That and the Other from the Cabinet office, there'd be a fair amount of cash to transfer over to Manx Care.

Gladys, this needs adding to your " Is the state becoming harmful to its citizens? " list.

[woolley]

I note that on the next 5 years income and withdrawal from reserves projection, even a £200 million increase in income (totally plucked out of the air, of course) only results in a £70 million reduction in raids on the reserves.

[FANDL]

45 minutes ago, Andy Onchan said:

If they emptied the imported Directors of This That and the Other from the Cabinet office, there'd be a fair amount of cash to transfer over to Manx Care.

Gladys, this needs adding to your " Is the state becoming harmful to its citizens? " list.

Dr Allinson’s Treasury is concerning and headcount is probably largely irrelevant now as the savings they have to make need to be huge. Allinson put up taxes in March with a promise to bring in a new NHS levy by the next budget to replace the tax increase with. The tax increase of course has been a miserable failure almost before it even started. Not only has it put low and medium earning workers into a high tax band it’s also not plugged any real gap in funding Manx Care - as only six months after the new high rate came in Manx Care has blown the extra £40M allocated to it in the budget and now says it’s forecast to be over budget by another £18M (nearly £60M in total extra by 2024 Y/E). The tax increase on its own only raised around £10M - the rest of the £40M they gave Manx Care technically came from reserves. So we can only guess how colossal Allinson’s proposed NHS levy might be next March if it needs to raise +/- £50M a year from the exact same lowish paid Manx workers. Then we see this proposal to “realign” the NI Fund up for a vote in October. They clearly intend to try to swap cash in that fund for some sort of IOM Government magic beans because they can’t raise enough from a tax increase or an NHS levy on its own - that fact is very clear already. 

So to answer your question in a long way. Even though they should do it even chucking 50 highly paid civil servants under a bus isn’t going to make much of a dent now as realistically they probably need to save around £50M a year not the £10M Alf is talking about finding. They have to start smashing open the last resort public piggy bank - which is the Gen X state pension pot. Funded from thirty odd years of NI contributions from normal working people who expect a secure retirement. The same normal working people who got hit for a 2% tax increase in the March budget that made virtually no difference to their ever spiraling costs either. Meanwhile nobody in government has done anything to address anything at all (the unions are now expecting around 6% in a pay award too) and the expectation is perhaps that our fall back financial security wrapped up in the NI Fund will be the next to go to keep the broken, leaky and incompetent ship afloat. 

Edited Wednesday at 04:30 PM by FANDL

[Non-Believer]

The first thing that needs reviewing is the executive and management costs of Manx Care. Then the same for what's left of DHSC. Is there any duplication of roles that can be culled?

Our politicians were sold and voted to apply this concept with nary a voice against it, not that many of them had a clue what they were actually voting for, other than distance from responsibility. They can grow some balls for once and start looking hard for some savings. Then they can carry it on into other areas.

25% odd of the "lowly paid" who are being bled white are on minimum wage as it is.

[Kopek]

Even if they got rid of 50 managers that would only save a few mil. Hardly solve the overspend?

Again, is it over spend or under funding?

[Andy Onchan]

Just now, Kopek said:

Even if they got rid of 50 managers that would only save a few mil. Hardly solve the overspend?

Again, is it over spend or under funding?

But the money saved there would go towards filling the front line staffing shortfall in Manx Care. 

[Kopek]

12 minutes ago, Andy Onchan said:

filling the front line staffing shortfall in Manx Care. 

It is incumbent on our Govt to fill these vacancies in our vital service irrespective of the savings?

It's also down to us public not to overuse the service without very good need?

Edited Wednesday at 05:10 PM by Kopek

[cissolt]

14 minutes ago, Kopek said:

Even if they got rid of 50 managers that would only save a few mil. Hardly solve the overspend?

Again, is it over spend or under funding?

The underfunding in Jonathan Michaels report was based on a projected year on year growth of population by 367.

Since manxcare was formed we have had  a population increase of 461, 600 odd off the projection.  Maybe based on his formula they are getting too much?