Positive Action Group - Possan Jantys Jarrooagh

Open, accountable government, rigorous control of public finances, and a fairer society for all.

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Government Finance

CGT - Conspiracy of Silence?

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"Please look at the whole picture, not just a small piece of the jigsaw" implored Treasury Minister Teare at the end of his 2012 Budget speech.

Well there's one piece that just doesn't fit in and we make no apology for returning to it, following our article 25.02.12 :"TAX: Bye, Bye ARI - Hello CGT?".


We focused on confusion created with the abolition of the ARI and a replacement measure on tax distributions introduced via a Treasury Practice Note 174/12. The Note seemed to open the door for a potential Capital Gains Tax on company assets.

 

Be Afraid ! Options to balance the National Budget.....

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budget cutsBe Afraid – Be Very Afraid.....

The impact of the latest UK VAT Agreement is to reduce our Government’s income by some £175 million per year in total – out of an annual total “spend” of some £600 million or so – or a cut of 30%.

Given that our previous Government has spent every penny of income possible in the past five years, made little progress in addressing the problem of the reduction in the VAT tax take (although already actioning the “creative accounting” possibilities of adjusting the nominal interest rate on capital projects, and of starting to take from reserves), the new Government from September faces real problems in producing a “balanced budget”, as it is legally required to do......

 

The End of the Welfare State ?

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welfare state?

There are several indicators that our expectation for a continuing “big brother”, all - protecting welfare state is under stress, and may not survive in the form we have known it for the past 60 years...

 

Government "in denial" on Public Sector Pensions

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The Burden of Public Sector Pensions – And A Government in Denial....

The Government Strategic Plan states that it is committed to a “fair society”.... but it is in a state of denial as regards public sector pensions and the liability they represent for future generations, let alone the highly unfair situation facing the 70% of the private sector who have no provision for a pension, other than the state Retirement Pension.

 

Comparison of the DCS with the UK scheme

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KSF iconComparison of the UK (FSCS) and IOM (DCS) Compensation Schemes for bank deposits by the Kaupthing IOM Depositors Action Group (KSFIOM DAG).

KSFIOM DAG do not believe that the IOM DCS is at all equivalent to the UK scheme and should in fact only be called a Depositor Early Payment Loan Scheme (or similar)...

 

Kaupthing - two years on

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Statement from the Kaupthing IOM Depositors Action Group (KSFIOM DAG) on the position two years on from the banks collapse in October 2008.
 


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