baypond Posted September 30, 2009 Share Posted September 30, 2009 Just think if Gordo hadn't sold the national gold reserves at multi decade lows, the country would be a few extra billion to the good. Just another great decision by the man who banished boom and bust.The man is delluded, but then most politicians seem to be.By the way - great announcement by Darling about bonuses. Everything he mentioned had already been put in place before or since the credit crisis......talk about pulling the wool over voters eyes, it is politics at it's very worst. Link to comment Share on other sites More sharing options...
Owens88 Posted September 30, 2009 Share Posted September 30, 2009 quote user="Quillan" Why should they be allowed to walk away after all the damage they have done. end quoteI love the principle.Could we insist that the bankers who gambled using other people's money(while getting paid rather princely amounts themselves) stayed on (at a moderate remuneration) until they fixed things, then be shipped off to an island somewhere where they can indulge in mutual congratulation.I speak as a tax payer, a defrauded shareholder and a weary citizen feeling that as long as cronies are allowed to play games amongst themselves using my money then any personal endeavours are almost invalidated. Link to comment Share on other sites More sharing options...
krusty Posted September 30, 2009 Share Posted September 30, 2009 In the Labour political broadcast tonight they state the car scrappage scheme has been a success , but as the UK has not really got a car industry any more , who is benefiting from it ? Sorry if I have missed something.[Www] Link to comment Share on other sites More sharing options...
Russethouse Posted September 30, 2009 Share Posted September 30, 2009 People who work for car producers based in the UK who get to keep their jobs, and the many associated workers - oh and the tax payer who doesn't have to fund unemployment benefit ! Link to comment Share on other sites More sharing options...
baypond Posted October 1, 2009 Share Posted October 1, 2009 [quote user="Owens88"]quote user="Quillan" Why should they be allowed to walk away after all the damage they have done. end quoteI love the principle.Could we insist that the bankers who gambled using other people's money(while getting paid rather princely amounts themselves) stayed on (at a moderate remuneration) until they fixed things, then be shipped off to an island somewhere where they can indulge in mutual congratulation.I speak as a tax payer, a defrauded shareholder and a weary citizen feeling that as long as cronies are allowed to play games amongst themselves using my money then any personal endeavours are almost invalidated.[/quote]I speak as a banker, and trader in fact. I think that just as in football crowd trouble, the misbehaviour of a few, spoils the reputation of everyone. The cause and effect in banking is complicated, but essentially boils down to government not regulating banking properly (ie permitting self certification, 120% mortgages, 8xmultiples of earnings etc). The unfortunate fact in a competetive world, where banks were judged on their ability to make money, is that they ended up chasing lower and lower margins in more and more imaginitive (stupid) way, just to try and stay in the game. Unfortunately for governments, they havn't worked out that they have publicly listed banks that are an integral part of the financial wellbeing of an economy. If they want to create an industry that is non-competetive, which removes the salary pressures, then they need a nationalised bank responsible for all mortgage lending etc. But they can't do this because UK plc relies too heavily on the financial industry for taxes and growth. Chicken and egg.Governments and politicians have cleverly absolved themselves of all blame and placed it squarely and entirely on banks, when it should have been shared. The biggest political con of all is that the amount of money injected in to UK banks, is almost entirely due to their investments abroad, not the UK. This means that the UK taxpayer is in fact heavily bailing out the US and European taxpayer. Now that is something you don't read in the papers, because politicians can't admit it.Competition creates efficencies, but it also can encourage bad decision making and create a vicious circle of higher and higher salaries. Take a look at the cheating in sport recently, Briatore, Alonso going to Ferrari for $35 mio per year, Harlequins and bloodgate etc etc The £150,000 per week paid to footballers. The bad thing for government is that you can't have an economy without banks, but banks are companies that compete. That is the problem, Link to comment Share on other sites More sharing options...
krusty Posted October 1, 2009 Share Posted October 1, 2009 [quote user="Russethouse"] People who work for car producers based in the UK who get to keep their jobs, and the many associated workers - oh and the tax payer who doesn't have to fund unemployment benefit ![/quote]The top ten of car sales due to the scrappage scheme.10. Renault9. Peugeot8. Toyota7. Nissan6. Vauxhall5. Volkswagen4. Kia3. Fiat2. Ford1. HyundaiOn the 8th January 2009, Nissan announced it was to shed 1200 jobs.Fords top seller Fiesta made in EuropeVauxhalls top seller Corsa made in Europe .Seams easy to work out who is getting the best out of the scrappage scheme .......not the UK Link to comment Share on other sites More sharing options...
Théière Posted October 1, 2009 Share Posted October 1, 2009 Wasn't Renaults scrappage idea started by Flavio Briatore and engineering chief Pat Symonds?[:)] Link to comment Share on other sites More sharing options...
Russethouse Posted October 1, 2009 Share Posted October 1, 2009 [quote user="krusty"][quote user="Russethouse"] People who work for car producers based in the UK who get to keep their jobs, and the many associated workers - oh and the tax payer who doesn't have to fund unemployment benefit ![/quote]The top ten of car sales due to the scrappage scheme.10. Renault9. Peugeot8. Toyota7. Nissan6. Vauxhall5. Volkswagen4. Kia3. Fiat2. Ford1. HyundaiOn the 8th January 2009, Nissan announced it was to shed 1200 jobs.Fords top seller Fiesta made in EuropeVauxhalls top seller Corsa made in Europe .Seams easy to work out who is getting the best out of the scrappage scheme .......not the UK[/quote]Right, so there are no garage staff to sell these cars, no spares market, they just get here and sell themselves [;-)]Of course it would be great if more UK made cars were purchased, but some are and together with associated services it all helps. Link to comment Share on other sites More sharing options...
just john Posted October 1, 2009 Share Posted October 1, 2009 Alfa of corsa, no docks, storage facilities, transport companies, no import duty, no service centres, no VAT on these deals, and no original component manufacturers.Deduct Government assistance from all those taxes, including lost company tax and additional unemployment benefit costs, and which side do you see the residue?[blink] Link to comment Share on other sites More sharing options...
velcorin Posted October 1, 2009 Share Posted October 1, 2009 2007 the UK car industry produced 2.7 million cars, 86% went for export. More cars produced than Italy, almost the same as France. NB Nissan took on 850 new workers last month. Link to comment Share on other sites More sharing options...
Quillan Posted October 1, 2009 Author Share Posted October 1, 2009 Actually thats motor vehicles, they produced 1.75M cars and 78% went for export (figures from OICA) but the decline in the UK car industry started in 1990 when it could no longer compete with both France and Germany. You can find more information HERE . Link to comment Share on other sites More sharing options...
krusty Posted October 2, 2009 Share Posted October 2, 2009 Re - the scrappage scheme , looking at the figures.First stage £300,000,000 given to car industry =300,000 cars , if the cars bought are an average of £10,000 = £3,000,000,000.Thats £3,000,000,000 going out of the UK into foreign economies , less a small percentage that will have been produced in the UK. Link to comment Share on other sites More sharing options...
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