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Payouts To Rail Operators Set To Soar

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Payouts to rail operators set to soar

The government's financial exposure to the rail industry could worsen amid predictions that a shortfall in fare sales could cost the taxpayer up to £400m over the next two years.

The Department for Transport is obliged to cover a proportion of train operators' losses if their revenues are below target, with some of Britain's biggest commuter franchises among those entitled to taxpayer support.

According to analysis by stockbroker Blue Oar Securities, franchises could receive £100m from the government this year under the terms of so-called "cap and collar" clauses. First Great Western (FGW), First Capital Connect (FCC) and National Express East Anglia are among the franchises that qualify for extra support from the government under the cap and collar provisions.

This could be followed by a further contribution of up to £300m in 2010 if South West Trains wins a legal battle with the DfT and adds to the total required by FGW, FCC and National Express.

Is there any moral reasoning which justifies our taxes being used to support private enterprise, yet we collectively do not benefit from these essentially interest free loans?

Is there any money left in the tax coffers?

Or are we just an immoral and broken nation?

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Payouts to rail operators set to soar

Is there any moral reasoning which justifies our taxes being used to support private enterprise, yet we collectively do not benefit from these essentially interest free loans?

Is there any money left in the tax coffers?

Or are we just an immoral and broken nation?

Nope, there is very little money left - this is purely and simply pre collapse looting.

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Nope, there is very little money left - this is purely and simply pre collapse looting.

+1

Yup this is exactly whats happening, and whilst we have been entertained with MP's expenses, RBS directors have just syphoned off another £5M in bonuses - and thats a "failed" bank!

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You don't understand. There is no theoretical limit to the depth of the coffers.

As Bernanke says, we have a magical tool called the printing press.

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You don't understand. There is no theoretical limit to the depth of the coffers.

As Bernanke says, we have a magical tool called the printing press.

Well, that rings true if every nation puts the same value on your paper. Regrettably that is not the case.

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+1

Yup this is exactly whats happening, and whilst we have been entertained with MP's expenses, RBS directors have just syphoned off another £5M in bonuses - and thats a "failed" bank!

I hope thats a joke.

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more money for the banksters:

http://www.guardian.co.uk/business/2006/ju...rtintheuk.money

Watchdog inquiry threat over rolling stock

Wednesday 28 June 2006 16.39 BST

...

Train operators lease almost all of their rolling stock from just three companies, each owned by one of the big banks: Angel Trains, a division of the Royal Bank of Scotland; HSBC Rail, owned by HSBC; and Porterbrook, a part of the Abbey Group.

...

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Payouts to rail operators set to soar

Is there any moral reasoning which justifies our taxes being used to support private enterprise, yet we collectively do not benefit from these essentially interest free loans?

Is there any money left in the tax coffers?

Or are we just an immoral and broken nation?

Well the bankers use the trains to get from Surrey into the City. It's more self-interest and subsidies for the rich.

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Err no!

RBS chiefs handed £5m in bonuses

http://business.timesonline.co.uk/tol/busi...?Submitted=true

Didn't post a link earlier as I didn't want to de-rail the train operator looting thread with more tales of rampant bank looting!

nothing wrong here, its within the rules and these guys are paid according to their position, not their value. This attitude is rife in the upper echelons and is what needs to change...right now.

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Payouts to rail operators set to soar

Is there any moral reasoning which justifies our taxes being used to support private enterprise, yet we collectively do not benefit from these essentially interest free loans?

Is there any money left in the tax coffers?

Or are we just an immoral and broken nation?

I always think it has been very silly that infrastructure industries were "privatised"!

They don't make money without subsidies, and now we are subsidising "shareholders"!

GNER cannot "compete" with Scotrail, not when I really need to visit Cardiff! :(

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+1

Yup this is exactly whats happening, and whilst we have been entertained with MP's expenses, RBS directors have just syphoned off another £5M in bonuses - and thats a "failed" bank!

they've siphoned off nothing. They are share bonuses. Aside from the minimal dilution of the equity by the issue of new shares, the only siphoning going on is to the IRS and HMRC in the income tax that is payable on these share awards. As for clawback, pointless ridiculous exercise...... and cynically put out now to try to and put the bankers back in the spotlight, not the MPs.

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You have to pay those sort of bonuses to retain the best looters.

Otherwise you end up with p1ss poor petty looters like we have in Parliament.

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