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Everything posted by sunonmars

  1. I know i posted by the cynic in me thought we should all see what sort of a tit runs the treasury.
  2. Exactly the country goes to hell in a handbasket and yes its all fine because we can build a 3rd runway at Heathrow. WTF?
  3. Damn, better get all those houses producing sellable export goods......oh damn no, wait.
  4. All I can say is Darling - Bankers and banks never forget, remember this when you need co-operation.......who do you think will end up paying for it, Yes, US, the people when banks recoup it, through extra charges, cutting saver rates, account charges and higher mortgage charges. Anyone with a brain know thats how banks operate. As for this making banks pay higher NI charges, well theres a smart idea for employment in a recession....not. Higher NI bills means bye bye jobs. http://www.guardian.co.uk/uk/2009/dec/07/alistair-darling-shock-tax-bankers Alistair Darling will try to force a "permanent culture shift" in the City as he announces a one-off punitive super-tax of more than 50% on the bonuses of tens of thousands of bankers as the centrepiece of the pre-budget report. The chancellor intends his targeted, one-off levy as a clear message that the City has to "start living in the real world" as the financial sector prepares to lavish hefty payouts on its staff. The new super-tax rate will be aimed at any bonus above a fixed rate, rather than the basic salary of the employee. It is intended to hit many thousands of bankers, but low-paid staff in bank branches will be exempt. The tax will be set higher than the 50% income tax rate coming in from April for those earning more than £150,000 a year, sources indicate. The chancellor has been working on the scheme for several weeks, according to Whitehall sources, who strongly denied reports that Darling had been "bounced" into the plan by Gordon Brown. Darling, not usually regarded as a populist politician, personally decided weeks ago that plans to control bonuses through schemes proposed by the G20 countries would not be enough after he saw plans by Goldman Sachs to set aside £11.4bn for bonuses. A senior Treasury figure said: "Salaries have got out of hand. They have been paying themselves like football stars. We have got to get them to think through the consequences of what they are doing. We are imposing 'a reasonable man' test on some of these salaries given the exceptional circumstances we find ourselves." Darling also feels "it cannot be right to bail out RBS only to see the money pour out at the other end in bonuses". Treasury officials feel they have devised a watertight way to hit bankers' bonuses without large-scale tax avoidance, following advice from leading City lawyers. It is expected they will tax bonuses as an excess sum paid in a month. But City accountants said there was a strong likelihood of a legal challenge against a punitive tax aimed at one sector of the workforce. Bill Dodwell, head of taxation at accountants Deloitte said: "We have had calls from bankers asking about what action they might take under the Human Rights Act. There's never been a precedent." Darling's planned tax raid provoked furious opposition in the City today with the British Bankers' Association claiming such taxes were "populist, political and penal". But the chancellor believes suggestions of a mass exodus of bankers are exaggerated. "We cannot be held to ransom by the banks," one source said. Darling will make it clear on Wednesday that the super-tax will be levied for a limited period, and Whitehall sources said the government wants a "properly supervised and regulated" City to remain successful. "We don't want to cut the City down to size, the City want some certainty and to know the lie of the land. They will be told that," a Treasury source said.
  5. don't worry next year, they definitely will be doing it on the cheap because the moneys just about run out. What would the chavs do if the benefit system bill could not be paid next year.
  6. This bas£ard Brown has a cheek to talk about savings when he's virtually raped everybody's savings over the last 12 years.
  7. Now what was that again we've heard for months, there will be no cuts only investment and increased spending. As for this bankers windfall tax, if they try that, who do you think the banks will claw the losses back from, yes thats right, you and me with more charges and rate cuts.
  8. Well lets face it, could they dip any lower than what Labour have done, anythings an improvement.
  9. Oh just wait, the power grab is going to be enormous before the Tories get in. The EU will make sure of it.
  10. Problem is who can trust Labour, they have had 12 years in charge of the economy and they are in one hell of a mess. The debt vs gdp is just staggering, Brown should be ashamed. I dont think i've ever seen the Uk in a worse state that it ever has been. I predict the PBR is going to be jawdropping and leaves Labour wide open to be pulverised. What was that Brown was saying about no cuts, more spending and now we hear 40 bn of cuts, either his sums or wrong or he is admitting the Tories are right?
  11. another one, i get the feeling that a raft of businesses go bust and close in the run to Xmas and beyond, anyone else think the number of business collapse will outnumber last years.
  12. Oh you hit the nail on the head, Brown must be shiteing himself come January, the month which is traditionally dump employee month. Come to think, I have a feeling Jan, Feb and March are going to be dreadful months for Brown, the first 3 months are usually crap as people often have enormous bills to pay off from Xmas, employers dump jobs and no money about.
  13. More of the them vs us mentality. Problem is looking at the troughers in Labour, they are the "THEM", its the final scene of Animal Farm with big fat hogs.
  14. notice all the usual suspects in this, PWC, slaughter and May, Credit Suisse, the cheek of it.
  15. More here http://www.independent.co.uk/news/uk/home-news/1700-jobs-lost-as-corus-steel-plant-is-mothballed-1834134.html sorry i posted another post same time as this one on it. Question is will Labour bother coming to the rescue genuinely or use this to score brownie points in an election campaign by chucking dosh at it. But why do this now, guess they dont wanna pay the xmas bonuses.
  16. http://www.independent.co.uk/news/uk/home-news/1700-jobs-lost-as-corus-steel-plant-is-mothballed-1834134.html A giant steel plant is set to be mothballed in the New Year, with the loss of 1,700 jobs, it was announced today. Total disaster for Teeside. Corus said its site at Redcar plant on Teesside will close next month, dealing a huge blow to the local economy. Union leaders said the news was "devastating" and called on the Government to take immediate action to help save the jobs. The future of the plant was put in doubt earlier this year when its main customer ended a purchasing agreement. The Teesside Cast Products factory had a 10-year contract to supply slab steel to a consortium of four buyers. The plant employs around 2,000 workers and is a major employer in the region. Corus said it had made "strenuous efforts" over the past eight months to secure a long-term future for the factory after the "failure" of the four international slab buyers to fulfil their obligations under the contract, which was signed in 2004. The contract committed the consortium to buying around 80% of the plant's production. Corus said in a statement: "Since the consortium broke this legally-binding agreement, from which it made an estimated 800 million US dollar profit, Corus has been diverting internal orders to Teesside Cast Products. "The company has also been securing external orders on an ad hoc basis in a bid to keep the plant open while an alternative future for the plant was sought. This has cost the company about £130 million. Operating a three million tonnes per year merchant slab plant is not sustainable without a long-term strategic partner." Chief executive Kirby Adams said: "We are acutely aware that this will be devastating news for our employees, our contractors, their families and the local community. "We extend our sincere gratitude to all of them, as well as to the management team and the trade unions on Teesside, who have all worked night and day to try and avoid this outcome. "This is the last thing we wanted and we feel deeply about what is happening. Sadly, it has become unavoidable, through no fault of our people on Teesside."
  17. Talk about putting us all in hoc. Bankers got their bonus, all £107 million of it, from the Govt for advice to regulate them. http://www.independent.co.uk/news/uk/politics/163850bn-official-cost-of-the-bank-bailout-1833830.html Government support for Britain's banks has reached a staggering £850bn and the eventual cost to taxpayers will not be known for years, the public spending watchdog says today. The National Audit Office (NAO) revealed that £107m will be paid to City advisers called in to work on the rescue because the Treasury was too "stretched" to cope with the sudden financial crisis which broke in the autumn of last year. The commitments include buying £76bn of shares in Royal Bank of Scotland and the Lloyds Banking Group; indemnifying the Bank of England against losses incurred in providing more than £200bn of liquidity support; guaranteeing up to £250bn of wholesale borrowing by banks to strengthen liquidity; providing £40bn of loans and other funding to Bradford & Bingley and the Financial Services Compensation Scheme; and insurance cover of over £280bn for bank assets. In its report, the NAO ruled that the "unprecedented" £850bn of support for the banks was "justified" to head off the potential damage of one or more of them going bust, and preserving people's savings and confidence in the financial system. But the NAO warned that RBS and Lloyds would fall short on their promises to boost lending to business this year – by £25bn and £14bn respectively. It disclosed that Credit Suisse and Deutsche Bank were appointed on retainers of £200,000 a month for a year as an emergency measure because the Treasury needed immediate back-up. Both banks could also be in line for "success fees" – £1.5m for Credit Suisse and £110,000 for each month worked by Deutsche. The NAO questioned the Treasury's decision to allow the top-ups to be paid solely at its own discretion. Credit Suisse also landed a separate £300,000-a-month contract to advise on the Asset Protection Scheme to insure banks against future losses plus further "success fees" of up to £3m. Its total payments could reach £15.4m by next March. Slaughter & May is expected to be paid £32.9m for commercial legal advice and PricewaterhouseCoopers £11.3m for its work on asset protection. ......................read on.
  18. Hardly going to be calling themselves voice of the ordinary person with Lord Rannoch in charge are they. Stupid move if you ask me.
  19. If they couldnt see that Ashton foreign policy stitch up coming to leverage her out of that commissioners position into a crap job just so the french could nick the portfolio, then they really do need shooting. Everyone else saw it.
  20. really not liking this, its so hard on the eyes..
  21. christ almighty , this is so hard on the eyes, who's bright idea was this.
  22. Last death throes from Labour, in other words, watch where Labour pulls its fund and you'll tell where they are going to lose badly. Those mp's are going to be pis"ed off with HQ. http://www.timesonline.co.uk/tol/news/poli...icle6854512.ece Labour MPs are told: be up for the election fight or lose funding Labour is withholding campaign money from lazy MPs and candidates in marginal seats who are not showing an appetite to fight the election, The Times can reveal. For the first time Labour election officials are demanding that those standing in marginal seats must provide evidence of the scale of their campaign before they are allocated funds for leaflets and mailshots. This suggests that the party recognises that some candidates have effectively given up but is not attempting to replace them. This contrasts with the tightly disciplined marginal-seat campaign run by Lord Ashcroft for the Conservatives. ....................... The revelation will add to the sense that momentum is draining from the party. Diplomats attending the Labour conference told The Times that they were writing communiqués describing how the party activists appeared unenthused or lacked the fire to stay in government. One expressed disappointment that many of the MPs that they wanted to see were not in Brighton. The party is very sensitive to accusations that fewer people are attending this year’s conference. It says that 220 of the party’s 300 MPs were expected to attend, although it is not clear whether they all turned up. Large swaths of the hall were empty during the speech by Alan Johnson, the Home Secretary, yesterday.
  23. What is the point of asking a labour activist what they thought of the speech. I mean what you think they are gonna say.
  24. Well you can bet, the big headline of this will be "Gordon wants to put your 16yr old daughter in a workhouse"
  25. Here we go History lesson 101. I'm getting nothing out of this speech. If this is the sort of speech his new speechwriter writes, Sack her Gordon. Cameron aint got anything to worry about with this crock.
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