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scuuzeme

So, If My Taxpayers Money Is Now Underwriting The Uk Banking System

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Seems to me as if the chancelor has just effectively offered a loan in principle on my behalf to any bank (from my tax contributions).

I pay that tax, if the loan is taken and not repaid then I will have to pay more tax to acheive the same level of service from the government (All else being equal).

That is a risk to me, and for that risk (as for any other loan I might make consider making) I would like a return on my money.

You know, something like the seven percent (ish) that I'd now get if I invested my cash in Northern Rock tomorrow, backed by an apparently cast iron guarantee from the government, financed (should it be needed? !!!!) by *everyone elses* tax payments.

Feel free to shoot me down (Not that you'd need my permission!), I might learn something.

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Guest Charlie The Tramp

When they take the tax from you it is no longer your money.

So I would not worry too much. ;)

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Seems to me as if the chancelor has just effectively offered a loan in principle on my behalf to any bank (from my tax contributions).

I pay that tax, if the loan is taken and not repaid then I will have to pay more tax to acheive the same level of service from the government (All else being equal).

That is a risk to me, and for that risk (as for any other loan I might make consider making) I would like a return on my money.

You know, something like the seven percent (ish) that I'd now get if I invested my cash in Northern Rock tomorrow, backed by an apparently cast iron guarantee from the government, financed (should it be needed? !!!!) by *everyone elses* tax payments.

Feel free to shoot me down (Not that you'd need my permission!), I might learn something.

The money remains the property of the bank of england and the corporation "Her Majesty's Government" at all times. You already recieve benefits from your membership of this corporation - roads, hospitals etc. They own, you, your kids, your house and anythign else you think you have ownership of. What you actually have is equity rights, i.e. you can use their stuff, but with strings attached.

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Seems to me as if the chancelor has just effectively offered a loan in principle on my behalf to any bank (from my tax contributions).

I pay that tax, if the loan is taken and not repaid then I will have to pay more tax to acheive the same level of service from the government (All else being equal).

That is a risk to me, and for that risk (as for any other loan I might make consider making) I would like a return on my money.

You know, something like the seven percent (ish) that I'd now get if I invested my cash in Northern Rock tomorrow, backed by an apparently cast iron guarantee from the government, financed (should it be needed? !!!!) by *everyone elses* tax payments.

Feel free to shoot me down (Not that you'd need my permission!), I might learn something.

You get a warm glowingfeeling that your helping people.

Just because they have been stupid and invested with southern turn is nothing to moa n about. :blink:

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