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Council Tax...

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Just watching GMTV and its reckoned that CT will have to go up 5% to cover the losses due to the banking collapse in Iceland. I think the most interesting thing about it all is that the councils have … Read More
Shengis Avatar
8y, 7m agoPosted 8 years, 7 months ago
Just watching GMTV and its reckoned that CT will have to go up 5% to cover the losses due to the banking collapse in Iceland. I think the most interesting thing about it all is that the councils have been outed. All these years we've faced rises in CT and cuts in services due to 'lack of funds', funny how they had all this money left over to 'invest' eh?

Just a wee bit of social comment for you all to mull over whilst eating breakfast (if you can afford breakfast that is....).
Shengis Avatar
8y, 7m agoPosted 8 years, 7 months ago
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banned#1
I dont think it is a case of this money being spare. A lot of council tax is collected annually so they have every chance of having a surplus to then spend throughout the tax year. Personally I'd be more upset if the funds were in low paying interest accounts.

You must have noticed how some years they seem to go on a massive spending spree in Jan-March. This is so they have nothing left when it comes to the end of the tax year. A surplus means councils get capped so get less from the government the next year.

BTW, about 80% of what councils actually spend comes from a central government grant so when people say they think their council gives good value for money they should realise that the £1500 approx they pay is in actual fact about £7500 (if you are a taxpayer of course).

Not such good value in my opinion.
#2
We'll all have to pay! Also our council promised before the City of Culture / Liverpool 08, that there would be no increase of Council Tax to pay for it - watch this space.
#3
Local councils are a complete waste of time and, more importantly, money. But, there are not many votes to be won by getting rid of them and, anyway, should your tenure as an MP come to an end, there's another avenue for lining your pockets in local politics. So, we're stuck with them regardless of how incompetent and/or corrupt they are. :x
#4
I'm no great fan of local councils but I believe that there are legal statutes that mean that councils must retain a certain amount of accessible cash for emergencies. They are also required by the Accounts Commission to maximise the return on their cash investments. They therefore invest in a spread of high interest accounts.

Where they are are fault is that the relative security of Iceland as an investment haven has been declining over the last 12 months and the councils' financial advisers (or fat cats!) should have had their eye on the ball.

At least Brown seems to be doing what he can (using anti-terrorist legislation! :w00t:) to ensure that individuals and councils get their cash back.
#5
Should our government bail these people out?
If I invest in the stock exchange or se-up my own business or bet loads on the horses, and it all goes belly up, can I expect the government to bail me out then. :w00t:

I didn't think so.
banned#6
Jumpingphil;3160317
Should our government bail these people out?
If I invest in the stock exchange or se-up my own business or bet loads on the horses, and it all goes belly up, can I expect the government to bail me out then. :w00t:

I didn't think so.

Not even close to being in the same league. Everyone knows that shares etc are high risk. These safe bank accounts were government approved, backed by the inland revenue and also the FSA.
#7
tony_s1
Local councils are a complete waste of time and, more importantly, money. But, there are not many votes to be won by getting rid of them and, anyway, should your tenure as an MP come to an end, there's another avenue for lining your pockets in local politics. So, we're stuck with them regardless of how incompetent and/or corrupt they are. :x


:w00t:
#8
Thats why MPs go to Iceland......

to make-a-wreck-of-it
#9
Alfonse
Thats why MPs go to Iceland......

to make-a-wreck-of-it


a pun on the capital city..? 3 out of 10, could do better. :thumbsup:
#10
Liddle ol' me
a pun on the capital city..? 3 out of 10, could do better. :thumbsup:


its a double pun....cheers :oops::)
#11
shengis u bitter cos stupid KCC put loadsa money there!?!
#12
magicbeans
shengis u bitter cos stupid KCC put loadsa money there!?!


If he isn't, I am. :x

lol

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