Give public bailed-out banks shares says Nick Clegg

wotsthat

What do you do when you're struggling in the popularity polls?

Give the public something that they thought they already owned.

http://www.bbc.co.uk/news/uk-politics-13884271

Procrastinator333

Stupid idea.

If they only give out the profit after recouping costs, it won't be a huge amount. There are 45m on the electoral roll. People will have to spend £15 a head selling the shares. That is £675m in share dealing fees wasted. If they want to give the cash out, do it in the form of a one off tax break, or just a cheque through the post. Why this stupid complicated method? Idiots. Imo.

ILW

I like the idea, it would give many an interest in the economy beyond the current few. Should only go to those that are paying or have paid tax though.

vax2002

We already have them..
They are called "bank notes"
You can get them in £5, £10 £20 + £50 versions

Graham_Devon

Don't think the idea is all that bad in all honesty. Interesting to see politicians trying, in whatever way, to give taxpayers something back.

There is an interesting argument going on though. People are suggesting it should only be taxpayers and ex taxpayers who get shares, rather than the populace, based on contibutions. Which is fair enough I guess.

Share fee's are unknown at the moment. But I did hear that the banks may well convert them for you for free at a later date,...which I suppose would make sense.

Doubt it will ever get off the ground however. Too complicated. Not only from an administrative point of view, but lets face it, a lot of people wouldn't have a clue what to do with them, or even, what they are.

ILW

Could make the AGMs a bit more interesting.

With 80% owned by the great unwashed I wonder if the directors remuneration packages would be approved?

Procrastinator333

ILW wrote: »

Could make the AGMs a bit more interesting.

With 80% owned by the great unwashed I wonder if the directors remuneration packages would be approved?

They are not saying they would give out the full amount, just the profit element. So unless the share price goes sky high, the receivers of those shared will not own a significant stake.

Procrastinator333

Graham_Devon wrote: »

Don't think the idea is all that bad in all honesty. Interesting to see politicians trying, in whatever way, to give taxpayers something back.

There is an interesting argument going on though. People are suggesting it should only be taxpayers and ex taxpayers who get shares, rather than the populace, based on contibutions. Which is fair enough I guess.

Share fee's are unknown at the moment. But I did hear that the banks may well convert them for you for free at a later date,...which I suppose would make sense.

Doubt it will ever get off the ground however. Too complicated. Not only from an administrative point of view, but lets face it, a lot of people wouldn't have a clue what to do with them, or even, what they are.

I would assume there would be some way of selling them cheap, but even still, it is going to cost a fortune to administer. I'm not saying don't give it back, just do it in a sensible and cheap way.

Easiest way I see is for 1 year only, tweak the lower rate tax threshold, increase it say £500 therefore saving every tax payer £100 of income tax. Cheap to administer, every tax payer gets a slice, job done.

Graham_Devon

Procrastinator333 wrote: »

I would assume there would be some way of selling them cheap, but even still, it is going to cost a fortune to administer. I'm not saying don't give it back, just do it in a sensible and cheap way.

Easiest way I see is for 1 year only, tweak the lower rate tax threshold, increase it say £500 therefore saving every tax payer £100 of income tax. Cheap to administer, every tax payer gets a slice, job done.

Yup, can't argue with that.

But I do think the shares are somewhat harder to get rid of than we may assume. The plan being looked at, I'd assume is being looked at, because it's suggested my some to be the most effective all round. Selling off this many shares in banks won't be easy.

chucky

Procrastinator333 wrote: »

Stupid idea.

If they only give out the profit after recouping costs, it won't be a huge amount. There are 45m on the electoral roll. People will have to spend £15 a head selling the shares. That is £675m in share dealing fees wasted. If they want to give the cash out, do it in the form of a one off tax break, or just a cheque through the post. Why this stupid complicated method? Idiots. Imo.

most people would just sell the shares and use it on something they enjoy like holidays, a new tv an ipad or any of their little luxuries etc... etc...

there are much better ways to give money back to the public that as you say have less administrative costs and channel peoples spending more efficiently

sounds like another publicity stunt.

Radiantsoul

ILW wrote: »

I like the idea, it would give many an interest in the economy beyond the current few. Should only go to those that are paying or have paid tax though.

That would make the whole thing far more complex.