Let the bribery begin : Sat Feb 16, 2013 9:22 am  

Osborne is now considering giving all taxpayers a £400 bung for the disposal of RBS in the lead up to the 2015 election. Is he so shallow as to think the majority of people would accept £400 as a sweetener? Most will have paid way over that amount in increased VAT alone. Instead of flogging off RBS at a knock-down price to his mates in the City and seeing as we've already socialised 81% of RBS: why not take the remaining 19% into public control and run RBS as a Citizens' Bank? It could then offer basic accounts to those who struggle to open an accout with the major banks, with ineterest rates reflecting a lack of massive bonuses to spiv bankers. They could take a look back at how other banks operated, like the Quaker principles of the original Barclays or that there Trustee Savings Bank f'ristance

Osborne is now considering giving all taxpayers a £400 bung for the disposal of RBS in the lead up to the 2015 election. Is he so shallow as to think the majority of people would accept £400 as a sweetener? Most will have paid way over that amount in increased VAT alone. Instead of flogging off RBS at a knock-down price to his mates in the City and seeing as we've already socialised 81% of RBS: why not take the remaining 19% into public control and run RBS as a Citizens' Bank? It could then offer basic accounts to those who struggle to open an accout with the major banks, with ineterest rates reflecting a lack of massive bonuses to spiv bankers. They could take a look back at how other banks operated, like the Quaker principles of the original Barclays or that there Trustee Savings Bank f'ristance

Re: Let the bribery begin : Sat Feb 16, 2013 1:08 pm  

So if those who struggle to open an account are offered credit at abnormally low interest rates, what do you think that will lead to and who will pick up the bill?

Re: Let the bribery begin : Sat Feb 16, 2013 1:27 pm  

cod'ead wrote:

Is he so shallow as to think the majority of people would accept £400 as a sweetener?

the question is are people shallow enough to vote for someone for £400?

Most will have paid way over that amount in increased VAT alone

really? to pay £400 vat would require a purchase of around £2,300. as vat went up by 2.5%, that £400 would require an additional spend of, what, £15k? so, £7.5k per year or just less that £150 a week. perhaps they're buying your super dooper fish/meat.

Re: Let the bribery begin : Sat Feb 16, 2013 1:43 pm  

samwire wrote:

the question is are people shallow enough to vote for someone for £400?
really? to pay £400 vat would require a purchase of around £2,300. as vat went up by 2.5%, that £400 would require an additional spend of, what, £15k? so, £7.5k per year or just less that £150 a week. perhaps they're buying your super dooper fish/meat.

Are you arguing with him because your maths seems to prove his point and then some?

Re: Let the bribery begin : Sat Feb 16, 2013 2:34 pm  

sally cinnamon wrote:

So if those who struggle to open an account are offered credit at abnormally low interest rates, what do you think that will lead to and who will pick up the bill?

Basic bank accounts don't have a credit facility.

Re: Let the bribery begin : Sat Feb 16, 2013 2:45 pm  

samwire wrote:

the question is are people shallow enough to vote for someone for £400?
really? to pay £400 vat would require a purchase of around £2,300. as vat went up by 2.5%, that £400 would require an additional spend of, what, £15k? so, £7.5k per year or just less that £150 a week. perhaps they're buying your super dooper fish/meat.

VAT was increased to 20% in January 2011 so that would be four years of paying an extra 2.5%. There would be no need for any additional spending to account for the £400 in VAT.

Those buying my excellent food need have no worries however, apart from our desserts, all the food I sell is zero rated.

Re: Let the bribery begin : Sat Feb 16, 2013 2:51 pm  

Big Graeme wrote:

Basic bank accounts don't have a credit facility.

Correct, my comment was aimed more at a bank paying interest on savings.

I am also convinced that if RBS was converted into a mutual "Peoples' Bank", it would attract not only those who struggle to find basic banking facilities but others may well shift their accounts to a more equitable banking operation.

Mind you, the established banks may lose out, so it's a guranteed non-starter

Re: Let the bribery begin : Sat Feb 16, 2013 3:32 pm  

I'd rather just have the £400.

Re: Let the bribery begin : Sat Feb 16, 2013 3:45 pm  

Ajw71 wrote:

I'd rather just have the £400.

I doubt Osborne's little ruse is aimed at blue-boys like you

Re: Let the bribery begin : Sat Feb 16, 2013 4:23 pm  

samwire wrote:

the question is are people shallow enough to vote for someone for £400?
really? to pay £400 vat would require a purchase of around £2,300. as vat went up by 2.5%, that £400 would require an additional spend of, what, £15k? so, £7.5k per year or just less that £150 a week. perhaps they're buying your super dooper fish/meat.

Thank you for proving you don't have a clue about this.