Questions for you financial gurus...

purch

The politicians could probably get away with anything at the time

They still can.........if recent events are anything to go by on both sides of the Atlantic.

Why would they pay corportion tax ?

Because they are still a Business.......a Business owned by HM Government but still a Business.....just as Northern Rock and Bradford and Bingley will be....if they ever make a profit they will be liable for Tax.

The Bank of England still operates as a 'normal' bank in many ways, in addition to their statutory operations.

For instance they have a trading floor, and operate in the interbank markets in a trading capacity as well as in their other operations.

When I was trading I have called the Bank for a price (it was usually a cr*p price, cos most of their traders were st"!!!!!!)........so they have always, and still do operate as a trading entity.

While I think the Federal Reserve is not fit for the 21st century, in many ways the Bank of England is also an anomoly in the current age. (and it's not a huge surprise that some will question how it operates and why)

The system has evolved over many decades, but the current financial situation is exposing it's shortcomings like nothing has before.

TRUSt_NO_1_2

purch wrote: »

They still can.........if recent events are anything to go by on both sides of the Atlantic.



Because they are still a Business.......a Business owned by HM Government but still a Business.....just as Northern Rock and Bradford and Bingley will be....if they ever make a profit they will be liable for Tax.

The Bank of England still operates as a 'normal' bank in many ways, in addition to their statutory operations.

For instance they have a trading floor, and operate in the interbank markets in a trading capacity as well as in their other operations.

When I was trading I have called the Bank for a price (it was usually a cr*p price, cos most of their traders were st"!!!!!!)........so they have always, and still do operate as a trading entity.

While I think the Federal Reserve is not fit for the 21st century, in many ways the Bank of England is also an anomoly in the current age. (and it's not a huge surprise that some will question how it operates and why)

The system has evolved over many decades, but the current financial situation is exposing it's shortcomings like nothing has before.

ok..it's a nationallised industry (which usually means they consume tax payer money)...but I think not in this case..so...

1.Where does the other 50% go ?
2.Does HM Gov pay interest on loans ?

Where are the profits from their operations declared in the government accounts ?

pumpndump

TRUSt_NO_1 wrote: »

When the government borrows money:

1. Does it borrow it from the Bank of England ?

2. Does it pay interest on those borrowings ?

3. Who owns the assets of the Bank of England ?

Thanks in anticipation...

1. yes, although via rather than from

2. yes

3. The Bank of England

purch

The Bank of England confirmed that this profit goes to the bank rather than to the Treasury

https://secure.moneymarketing.co.uk/cgi-bin/item.cgi?id=173034&d=pnd2&h=pndh2&f=pndf2

Doesn't answer the question unfortunately.......

The balance of profit after provision for the half-yearly payment is carried to the Rest, to which was previously carried any balance of profits after provision for the half-yearly dividend; these movements are shown in the Bank Return

http://hansard.millbanksystems.com/written_answers/1949/may/20/bank-of-england-profits

Neither does that.........

More research required.

TRUSt_NO_1_2

TRUSt_NO_1 wrote: »

1.Where does the other 50% go ?...

"The Bank’s post-tax profit is shared 50:50 with HM Treasury, subject to any other agreement"

So who gets the other 50%...? (and please nobody say the Bank of England)