Govt Debt

[Welshbeef]

So the UK owns Northern Rock (which they took out £25billion to buy) Bradford & Bingley (they took out £27billion to buy) Lloyds 74% £25billion injection and then £35billion for RBS.

So c£110billion which will be wiped off the the sovrign debt when these are off loaded.

Other good news B&B made £1b profits for us tax payers in 2010 from a £100m loss in 2009. Even N Rock bad bank also did a good set of results.

[Rawwr]

Ooh, when do I get my divi?

[loafer123]

Rawwr said:

Ooh, when do I get my divi?

The next time you go to the Royal Opera House (see other thread here : http://www.pistonheads.com/gassing/topic.asp?h=0&a... the Royal Opera House need £26mio/year taxpayer funds?).

[Soovy]

Get out of there with your facts.

Bankers ruined us.

[V8mate]

Soovy said:

Get out of there with your facts.

Bankers ruined us.

I bet lawyers helped them

[Caruso]

£100bn is less than a tenth of 1% of our Govt Debt though.

[loafer123]

Caruso said:

£100bn is less than a tenth of 1% of our Govt Debt though.

No it isn't.

Government debt, including the banks mentioned above, is ~£2,250bn.

£100bn is 4.44% of that amount.

[matsmith]

Caruso said:

£100bn is less than a tenth of 1% of our Govt Debt though.

Are you kidding or are do you really think that we owe £100 trillion?

[Caruso]

I stand corrected, missed out a set of 000s!

[anonymous-user]

Given the pain the public have taken and are taking due to the economic situation, when the banks are sold off, should all taxpayers get a share of the money?

How about any profit is shared out and returned as a tax rebate? What are the arguments for and against this?

[Mr Dave]

Dangerous2 said:

Given the pain the public have taken and are taking due to the economic situation, when the banks are sold off, should all taxpayers get a share of the money?

How about any profit is shared out and returned as a tax rebate? What are the arguments for and against this?

What profit?

[anonymous-user]

I didn't day there was a profit. I said "any profit" which is clearly conditional on there being one. However it is not inconceivable that when the government does sell it's shares in these banks, it may get more money than it spent to buy them.

[Odie]

Dangerous2 said:

I didn't day there was a profit. I said "any profit" which is clearly conditional on there being one. However it is not inconceivable that when the government does sell it's shares in these banks, it may get more money than it spent to buy them.

I think his point is that any profit will be lost in accounting. Like with alot of business's.

[Digga]

matsmith said:

Caruso said:

£100bn is less than a tenth of 1% of our Govt Debt though.

Are you kidding or are do you really think that we owe £100 trillion?

Depends whether they borrowed from 'reputable' sources.

[Brighton Derly]

Dangerous2 said:

Given the pain the public have taken and are taking due to the economic situation, when the banks are sold off, should all taxpayers get a share of the money?

How about any profit is shared out and returned as a tax rebate? What are the arguments for and against this?

Against: It's not our money.

[tone]

Brighton Derly said:

Against: It's not our money.

The Govt doesn't have any money except that which it extorts from us or borrows against the promise of repayment via future extortion. Ergo, it is our money.

[youngsyr]

Rawwr said:

Ooh, when do I get my divi?

2014/2015:

http://www.bloomberg.com/news/2011-03-24/u-k-said-...

[youngsyr]

Dangerous2 said:

Given the pain the public have taken and are taking due to the economic situation, when the banks are sold off, should all taxpayers get a share of the money?

How about any profit is shared out and returned as a tax rebate? What are the arguments for and against this?

See article linked above, it will be used to bribe us into voting for the government at the next election.

[Soovy]

British taxpayers will get a “handsome return,” from the investment, Lloyds’s former Chief Executive Officer Eric Daniels told a House of Commons committee on March 16. “It looks like” the U.K. will profit from its bank investments, RBS CEO Stephen Hester told the same hearing.

[BoRED S2upid]

Keep hold of them I say and use their / our profits to pay off the nations debt bit by bit. Couple hundred years and we will be in the money.