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babesagainstmachines

The Real News From The Budget

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George Osborne, UK chancellor, said the UK would begin taxing bank balance sheets at 0.04 per cent in January 2011, rising to 0.07 per cent a year later.

Hopefully thats turnover not profit so the levy is taken every year. Turnover is higher, obviously, & hard to hide.

Also hoping to see Spain, Italy, Portugal etc. sign up to the co-ordinated bank tap-up. Switzerland too ideally, but somehow I doubt it.

PS cue the wails of unaffordable from the Bankers. Hmm - how come their own bonuses and fees paid to their lawyers and deal brokers are affordable then?

Edited by xux42

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what if they have a negative balance sheet - do we pay them

Hopefully the levy is on turnover so its payable even when they make a massive loss.

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what if they have a negative balance sheet - do we pay them

Yes.

It's called a bailout and we, our children and grandchildren, have already paid in full.

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Google bank balance sheet. At least someone admits they don't know what it is... it's the total size of a banks assets / liabilities. It can't be negative.

Regulation will have to deal with off balance sheet issue.

Regulation? Now there's an idea. But they will want to keep this activity private - blinking 'ankers. Bankers are being taught the phrase, as we speak; "Balnce sheet, what balance sheet? Oh you mean the one we keep separate on-shore for audit as opposed to the 'other one'."

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George Osborne, UK chancellor, said the UK would begin taxing bank balance sheets at 0.04 per cent in January 2011, rising to 0.07 per cent a year later.

I think the real news was that the tories had the chance to increase cgt to 50% or at the very least 40%. It would have been a genuine signal that the pain of the economic recovery would be felt by those that could most afford it, would go a long way to stopping the madness off hpi and perhaps, just perhaps move us towards a situation where houses move back down to the their real long term average. They didn't. It would have benefitted the majority. It benefits the minority of property owning tories, who as always are the real power behind the party. I believe had the Libs not been part of the govt, the rise would have been lower if at all. I suspect the 12 points increase was to appease them, the issue is now in the long grass.

I still feel though that it will have an affect, but not as great as it could have been. I also still think that prices will go down, but this won't be due to the prudence or common sense of the govt. Despite all the big gestures, I still believe the entitled classes will - as always - look after their own.

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Regulation? Now there's an idea. But they will want to keep this activity private - blinking 'ankers. Bankers are being taught the phrase, as we speak; "Balnce sheet, what balance sheet? Oh you mean the one we keep separate on-shore for audit as opposed to the 'other one'."

really.

the corporate media/spin machine that is the beeb seems to be fairly well regulated in it's diet of property porn....like a staple diet of big-macs.

the only real choice you get is eat your fill of audiovisual junk food,or turn the bloody box off.

it's not just the banks that need exposing,it's the whole machine.

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A bank balance sheet?

What's that then?

An illusionary 'summing' up of the "state of stuff", artfully 'created' by highly imaginative, (bribed/bent) highly paid, firms of city "aCCountants" - accounting for what is: "neither here nor there"!

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  • 145 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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