MrSmith Posted June 6, 2012 Author Share Posted June 6, 2012 Some more plans from George: http://www.independent.co.uk/news/uk/politics/osbornes-latest-plan-ask-britains-savers-for-money-7818038.html Basically he wants our pensions and savings. He wants to borrow for this Fair play to him for not going down the PFI route......yet I thought that’s what national savings were for, if they want more money they should offer higher interest rates and people will move their money away from banks. Link to comment Share on other sites More sharing options...
Cyclone Posted June 6, 2012 Share Posted June 6, 2012 Some more plans from George: http://www.independent.co.uk/news/uk/politics/osbornes-latest-plan-ask-britains-savers-for-money-7818038.html Basically he wants our pensions and savings. He wants to borrow for this Fair play to him for not going down the PFI route......yet Tax free government bonds for savers that are in addition to the ISAs, assuming they offer a competitive rate I'd use them. Link to comment Share on other sites More sharing options...
Sidecut Posted June 6, 2012 Share Posted June 6, 2012 Austin Allegro. World class?. Typical ill informed post. The workers didn't design the All Agro. Link to comment Share on other sites More sharing options...
I1L2T3 Posted June 6, 2012 Share Posted June 6, 2012 I thought that’s what national savings were for, if they want more money they should offer higher interest rates and people will move their money away from banks. You'd think so wouldn't you. NS&I isn't offering many products now and nothing inflation linked. I'm wondering if these growth bonds will have longer terms than usual NS&I products. If they were inflation linked I'd seriously consider them. The point about the banks is interesting. The banks don't like NS&I at times like these and they lobby the government quite hard about the products on offer. They know what will happen if NS&I put some really attractive products on offer. Tough one for the government because some banks are state owned and it wouldn't make sense to damage them. On the other hand the Treasury has a huge pool of potential money it just can't get at without damaging the banks. Link to comment Share on other sites More sharing options...
Cyclone Posted June 6, 2012 Share Posted June 6, 2012 Typical ill informed post. The workers didn't design the All Agro. What were we engineering that was world class? Link to comment Share on other sites More sharing options...
Mecky Posted June 6, 2012 Share Posted June 6, 2012 Tax free government bonds for savers that are in addition to the ISAs, assuming they offer a competitive rate I'd use them. Isn't that another term for borrowing money? Link to comment Share on other sites More sharing options...
Cyclone Posted June 6, 2012 Share Posted June 6, 2012 Not really, but it achieves the same effect. They aren't proposing infrastructure projects on the same scale as I1L2T3 though, so presumably he'd need to make additional arrangements to borrow much more... Link to comment Share on other sites More sharing options...
Sidecut Posted June 6, 2012 Share Posted June 6, 2012 What were we engineering that was world class? The highly skilled shop floor engineers were not responsible for the poor designs. Link to comment Share on other sites More sharing options...
I1L2T3 Posted June 6, 2012 Share Posted June 6, 2012 Not really, but it achieves the same effect. They aren't proposing infrastructure projects on the same scale as I1L2T3 though, so presumably he'd need to make additional arrangements to borrow much more... Yes it is borrowing. National debt most definitiely includes the NS&I liabilities. I do take the point about scale and you're right NS&I doesn't really scale up to what we need. We need on board: 1. Individuals. The crux of Osbornes plan. They need to be offered something attractive with an element of index linking. These bonds can't be too long dated though or else people will be put off. Whether NS&I would offer these I don't know. 2. Domestic institutional investors. Banks, pension funds, companies etc... They need to be attracted by offering something better than the current (all but locked-in) very low gilt yields and these are the investors that need to be brought on board with serious sums invested with long dates. The more investment from domestic sources the better. In November 2011 Osborne was talking about sourcing £48bn in this way. 3. International institutions and individuals. A necessary evil but the less borrowing from this source the better. In essence I don't disagree with what Osborne is planning. I think the scale is perhaps too small. And although it isn't exactly broadcast news he clearly sees the need for infrastructure-fuelled growth. It's just a shame that the austerity media agenda is getting in the way. Either that or he's saving up for a blitz of announcements. Link to comment Share on other sites More sharing options...
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