bossman (8th December 2008)
According to the latest issue of TES:
EU funds sought to prop up BSF plan | News | TES
Plans of Mice and Men and Governments, I say lets sell to the Arabs and have done with it, they seem to be buying everything else that they can get their hands on why not our educational system.
webman (8th December 2008)
Perhaps if they didn't waste so much money on expensive consultants and managers and outsourcing the IT, then maybe it wouldn't cost so much...
It's quite funny in a black sort of way though...
The builders want to build schools for the Govt (& make a healthy profit for themselves and their bankers)
So the banks, having been rescued from the brink by our Govt using our taxpayers money turn round & say 'no thanks' to the idea that they should now lend our 'taxpayers' money to the builders for schools for our taxpayers children, these to be paid for by taxpayers....................
What return are the bankers going to get in the short term on a project that costs 45bn and runs for 25 years ? Becuase of the wholesale credit markets i don't believe the banks can possibly lend the kind of money required.
The govt. want to make a great deal out of getting the banks to lend at 2007 levels, all becuase they've been backstopped by the bailout. That is ludicrous thinking on the govts. part thinking it's back to business as usual.
I'm guessing the banks don't have the deposits or the assets to lend, irrespective of the bailout.
The govt. would have been better off reducing the debt directly for every individual and business rather than plugging the holes for the bankers and then relying on them to carry on lending at absurd levels. When the bankers can't.
Atleast the ECB will be happy to help PfS out at a low interest rate no doubt to encourage this absurd fiscal stimulus madness going on around the world.
Ever increasing circles hmmmm!! or should it be ever decreasing circles.
Broc: your witticisms are always good especially for a Monday. We have just been informed that the report on the consultation on the BSF in our area, proposals will go to Cabinet on 18th December.
It is an open meeting therefore members of the public can attend.
But the documentation which should be available to all is only being released on to the CC website 5 days before the meeting.
It beggars belief that with my taxes the Government is bailing out these greedy bankers (play on words, not bad for a Monday) and then trying to borrow my money back for the BSF projects which will put me out of work probably, so in effect i am signing my own death knell job wise, by working hard and paying my taxes.
BTW: I wonder if the Government will bail me out when I am unemployed and have no money just like the Banks and the large building consortium's etc..
If i was a bank, and i had to lend for a construction project, i'd want that project to be backstopped by the govt.. Why ? Because the construction industry is in a bit of a bind, and with further job losses in 2009 and 2010, who knows who's going to be able to repay what, how and when ? Who knows who's still going to be in business or what the financial shape of the LA's is.
If i'm a bank i want to know that if everything goes pear shaped no-ones going to default on that credit i've lent. If they do default or cannot repay i've got a hole in my balance sheet. IT's all about risk at the end of the day, we should be glad lenders are being more cautios - that's if they really ARE being more cautios.......it's more to do with the banking landscape being fundamentally different rather than banks being all boring and belt and braces like they were in the bowler hatted days of old.
But don't worry the govt. will bail you out up to a point, if you get laid off.
They'll pay your housing costs for a period of time, and i'm expecting any minute now for credit card interest repayments allowance for the unemployed. [heavy sarcasm]
But for as long as your in work, and if your not a homeowner then we don't have much in the way of a govt. looking out for the interests of people such as yourself. And if your a saver and your prudent, then the govt. aren't interested either.
that there was no more boom and bust, and that as an individual one could afford 7 city centre flats, a 3-bed terrace and a mock tudor mansion all on jobseekers Allowance. Who told us prices could only ever go up, it wasn't just the banks. Why not blame the media, the govt, all of those encouraging us ?
Think about what caused the collapse.....was it our own realisation that we were borrowing too much ? The answer to that is a resounding NO.
At one time you could make a decision (eg new car purchase) to use some savings towards the cost based upon the gap between savings rates and borrowing rates. The last car loan I had (a couple of years ago) the gap was only a few percent, now the gap is HUGE..... Only people desperate to borrow money will end up paying the rates now demanded by the banks and finance houses.
Personally I have no debt now - so am more than a little irritated that my taxes are going to subsidise people who didn't manage their finances as prudently as me
It seemed pretty obvious that you can't sustain an economy based on more and more lending for ever. In fact - to me it seems obvious that you can't sustain an economy where you don't make much that you can export and earn income on anymore - but I'm just an old style engineer, what do I know...
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