Charity Begins at Home?

[Phil D. Rolls]

From Private Eye:


£7bn cash loaned by UK to Ireland in addition to contribution to international bailout.

£7bn further cuts to UK welfare budget announced last month, on top of £11bn already taken away.

I like Ireland, but what's this all about? We aren't even getting free cheese. :confused:

[Jack]

£7bn tax bill Vodafone were let off with by the new Government earlier this year.

[magpie1892]

£7bn tax bill Vodafone were let off with by the new Government earlier this year.

The new government in... 2007? A pre-emptive evil Tory plot, yes?

And, as I am sure you know, HMrC is not the government, old or new.

Back to the sixth-form common room for you. Try not to do something mature like trashing McDonald's or Starbucks on the way there.

[Danderhall Hibs]

The new government in... 2007? A pre-emptive evil Tory plot, yes?

And, as I am sure you know, HMrC is not the government, old or new.

Back to the sixth-form common room for you. Try not to do something mature like trashing McDonald's or Starbucks on the way there.

Didn't George Osborne wipe it then employ the guy from Vodafone as a Govenment tax expert?

Great appointment - anyone that can avoid that amount of tax is clearly at the top of his game.

[magpie1892]

Didn't George Osborne wipe it then employ the guy from Vodafone as a Govenment tax expert?

Great appointment - anyone that can avoid that amount of tax is clearly at the top of his game.

No and no.

If even the BBC are reporting that the £6bn figure is an urban myth, then you are on pretty safe ground.

Anyhoo, little things like facts (or a lack of £4.75bn of them, in this case) shouldn't get in the way of our God-given right to blame the Tories/Libdems for stuff that not only didn't happen, but didn't happen on their watch.

I mean, that's just childish, no? Like blaming Labour for the state of the economy. They were in government for the last 13 years but it's so obviously Thatcher's fault. She never ended 'boom and bust', the heartless cow.

The sooner some people on here wake up to the fact that 95% of politicians of all hues are thieving, (personally) ambitious idiots, the better for all concerned. We might then get the revolution we desperately need. Dark days ahead, regardless of where you put your cross.

[Green Mikey]

From Private Eye:


I like Ireland, but what's this all about? We aren't even getting free cheese. :confused:

It is in Britain's best interest to support Ireland.

Firstly, they are are 5th largest export market worth over £30bn every year. If the situation in Ireland worsens then there would be a negative effect on the UK economy. Secondly, (you'll love love this one FR:wink:) UK banks have loaned a lot of money to Ireland over the last fews years and any default on these loans would seriously hurt the banks.

[Jack]

The new government in... 2007? A pre-emptive evil Tory plot, yes?

And, as I am sure you know, HMrC is not the government, old or new.

Back to the sixth-form common room for you. Try not to do something mature like trashing McDonald's or Starbucks on the way there.

As far as I am aware HMRC were pursuing it until after the election ... and then a deal was done.

[Phil D. Rolls]

It is in Britain's best interest to support Ireland.

Firstly, they are are 5th largest export market worth over £30bn every year. If the situation in Ireland worsens then there would be a negative effect on the UK economy. Secondly, (you'll love love this one FR:wink:) UK banks have loaned a lot of money to Ireland over the last fews years and any default on these loans would seriously hurt the banks.

:hmmm:

[Future17]

It is in Britain's best interest to support Ireland.

Firstly, they are are 5th largest export market worth over £30bn every year. If the situation in Ireland worsens then there would be a negative effect on the UK economy. Secondly, (you'll love love this one FR:wink:) UK banks have loaned a lot of money to Ireland over the last fews years and any default on these loans would seriously hurt the banks.

:agree:

And hurting the banks now hurts the nation.

[RyeSloan]

As far as I am aware HMRC were pursuing it until after the election ... and then a deal was done.

Just as they are currently still pursuing 150 other companies over the tax potentially due around the CFC rules.

The figure was never £7bn. Few actually know the real figure but a better reflection would be the £2.2bn Vodafone were carrying as a provision on their accounts.

It's also fair to say that there was still significant legal questions on whether the CFC rules applied to Lux domiciled subsidiaries. The settlement avoided a protracted legal battle, one that ultimately if lost by the government would have resulted in zero being received.

That said the settlement seems a bit light to me but to my mind it's hardly the cave in some have tried to paint it as.

Re the Op:

While I like and subscribe to Private Eye their facts and especially their numbers are not always the most reliable...they don't really have to be for the type of mag that it is but they are hardly the most sound basis for detailed argument I would say.

Direct loans are only £3.2bn with others upto a total of £6.6bn being made through the Uk's participation in EU and IMF mechanisms. It's also worth pointing out that these are loans with an interest rate. I.e. The UK expects to get it's money back plus interest.

Finally I don’t quite get the correlation between providing a loan to a trading partner and cutting expenditure on welfare. One should result in the money being retuned with interest the other would effectively be given away year on year on year.

[hibsdaft]

lets be clear, this wasn't a bailout of Ireland - it was yet another bailout of the banks.


If even the BBC are reporting that the £6bn figure is an urban myth, then you are on pretty safe ground.

they reported HMRC and Vodafone saying the figure was an urban myth. both of whom obviously have an interest in people believing that.

[discman]

lets be clear, this wasn't a bailout of Ireland - it was yet another bailout of the banks.



they reported HMRC and Vodafone saying the figure was an urban myth. both of whom obviously have an interest in people believing that.

Agreed, for people who want more imfo google:

Why are there protests against Vodephone. Then scroll down to "A simple guide/Liberal" it goes in to some detail and given its a simple guide Magpie,should suit you....sir!:greengrin

[Phil D. Rolls]

Just as they are currently still pursuing 150 other companies over the tax potentially due around the CFC rules.

The figure was never £7bn. Few actually know the real figure but a better reflection would be the £2.2bn Vodafone were carrying as a provision on their accounts.

It's also fair to say that there was still significant legal questions on whether the CFC rules applied to Lux domiciled subsidiaries. The settlement avoided a protracted legal battle, one that ultimately if lost by the government would have resulted in zero being received.

That said the settlement seems a bit light to me but to my mind it's hardly the cave in some have tried to paint it as.

Re the Op:

While I like and subscribe to Private Eye their facts and especially their numbers are not always the most reliable...they don't really have to be for the type of mag that it is but they are hardly the most sound basis for detailed argument I would say.

Direct loans are only £3.2bn with others upto a total of £6.6bn being made through the Uk's participation in EU and IMF mechanisms. It's also worth pointing out that these are loans with an interest rate. I.e. The UK expects to get it's money back plus interest.

Finally I don’t quite get the correlation between providing a loan to a trading partner and cutting expenditure on welfare. One should result in the money being retuned with interest the other would effectively be given away year on year on year.

I suppose Private Eye is a great tool for making people question what's going on. I thought there would be more to it, and it's been interesting to hear the feedback.

[CropleyWasGod]

It is in Britain's best interest to support Ireland.

Firstly, they are are 5th largest export market worth over £30bn every year. If the situation in Ireland worsens then there would be a negative effect on the UK economy. Secondly, (you'll love love this one FR:wink:) UK banks have loaned a lot of money to Ireland over the last fews years and any default on these loans would seriously hurt the banks.

AND we are getting 6% interest pa.

That's much better than the Girobank.

[magpie1892]

As far as I am aware HMRC were pursuing it until after the election ... and then a deal was done.

Must have been the tories then.

I knew it!

[discman]

Must have been the tories then.

I knew it!



Knew youd get there in the end!:greengrin

[Jack]

Result :-o