We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Has MSE helped you to save or reclaim money this year? Share your 2025 MoneySaving success stories!
It's Time Savers Took Their Medicine
Comments
-
When you put your money in the bank, they don't tell you that your investment can go down as well as up. They tell you that your covered for up to £85k if the bank fails. Any sort of levy' deduction is criminally unfair. If any government wants to try this, they should first get rid of money laundering regs, allow people to pay in cash only, let everyone take their cash out and keep it in a safe, buried etc. Give a period of notice. Once they take a levy and get away with it, that's only the beginning. It's 2013 not 1313 .0
-
If they offered more index linked NS&I certificates they could raise quite a lot of funds
They'll only do that when they are confident inflation is definitely on it's way down.;)"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
chewmylegoff wrote: »Pretty sure that local councils were actually required by central government rules to put their cash reserves in the highest interest bearing accounts that they could find at a uk institution (which included uk subsidiaries and branches of overseas banks).
It was just the get out of jail card used by embarrassed council financial directors. They were required to get the best return for the taxpayer - they interpreted this as the highest possible rate on the market rather and didn't think considering sustainability was in the taxpayers interest.chewmylegoff wrote: »I remember looking at the CDS spreads on icesave in 2007 or early 2008 and thinking "no thanks" - my money went into HSBC at the time. I caused a rather awkward moment a couple of years later when I remarked to my manager that anyone putting money in icesave deserved to lose it as it was clearly a massive risk. Of course it emerged that she'd put all her money in there.
My bonus wasn't great that year.
Well she had the last laugh - you had your bonus adjusted and had to pay the interest on her savings.0 -
Perhaps those that think a levy on personal savings is fair should also indicate their support for the compulsory (a) confiscation of a % of shares owned by individuals and pension funds (b) increase in the value of all loans, with the additional interest raised given to HMT (c) charge levied as a % of its value, repayable on all houses when next sold?
Not sure where you're going with b or c. If someone borrows money and pays it back according to the T&C's why should they be penalised?
a is easy - if you own shares in a business that fails then you lose 100%. If there's anything left after paying liabilities then you get that.0 -
Why all the hatred towards savers? Why do certain people think its fair to penalise just one group of society, the one group who are trying to handle money responsibly?
You might as well just introduce even more quantitive easing. That way everybody pays. Except those in debt I guess. But that seems to be the way things are going.
Time to put your money under the mattress.0 -
pit your savingss into gold.
It is a safe haven when stuff like this happen
Just look at Cypris today = thinks are going to get very choppy now
gold is the only save thing to do
If I were you I'd spend that money on spelling lessons rather than gold bars. After that you could take classes in how to be a slightly better Internet troll, cos ur rubbish at it now, innit.0 -
Not sure where you're going with b or c. If someone borrows money and pays it back according to the T&C's why should they be penalised?
a is easy - if you own shares in a business that fails then you lose 100%. If there's anything left after paying liabilities then you get that.
I was being ironic! If you take money away (steal) from savers then how many other schemes might you invent. So (b) you borrow £10000 and are paying it back, the Government says the bank must add £1000 to the loan and charge you more interest, giving the goverment a cut of the interest. Or (c) you have a £200K house, the government tells puts a charge on the house of £10K and you have to pay it back when you sell the house.
My point: If Governments get away with stealing from savers who else might they then turn too with bizzare schemes.Few people are capable of expressing with equanimity opinions which differ from the prejudices of their social environment. Most people are incapable of forming such opinions.0 -
Not sure where you're going with b or c. If someone borrows money and pays it back according to the T&C's why should they be penalised?
a is easy - if you own shares in a business that fails then you lose 100%. If there's anything left after paying liabilities then you get that.
With A simply top slice x % of the value of all private pensions and company pension pots to be paid by the fund administrators. Compel corporate to hand over Y% of the share price on given day through ring fencing of future dividend payments or an additional tax on dividends or simply removing the tax credit on dividends. Removing the tax credit would raise an extra tax liability for the recipient.
With C it could act as an additional Stamp Duty based on the sale price.
I am sure that with most loan /credit agreements there is a catch all clause to encompass anything outside the lenders control that could be used to introduce some form of levy on the transaction. If not introducing a VAT element on any new debt similar to that applied against insurance premiums.
Why just in cash assets in a bank account.
Was it only Cypriot savings accounts targeted or did it also apply to current accounts. Why take it on the balance as at last Monday why not apply it to turnover through the account to capture salary payments too or money being laundered through accounts.
Personally I am against all stealth taxes. If they want to raise more tax just load it on the income tax, CGT/IHT, tighten up the rules to prevent avoidance, including contractors and dividend/NI schemes, and then we can all see what they are up to. When they have fixed things they can reduce them again.;)"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
The_Magnificent_Spoon wrote: »Why all the hatred towards savers? Why do certain people think its fair to penalise just one group of society, the one group who are trying to handle money responsibly?
Been going on for years. Why do you think politicians favour inflation?0 -
I was being ironic! If you take money away (steal) from savers then how many other schemes might you invent. So (b) you borrow £10000 and are paying it back, the Government says the bank must add £1000 to the loan and charge you more interest, giving the goverment a cut of the interest. Or (c) you have a £200K house, the government tells puts a charge on the house of £10K and you have to pay it back when you sell the house.
My point: If Governments get away with stealing from savers who else might they then turn too with bizzare schemes.
They get away with "stealing" our incomes - what is so different about taxing an asset? Why is that bizarre? Plenty of people call for a land tax or mansion tax or wealth tax...what's the difference?0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.9K Banking & Borrowing
- 253.9K Reduce Debt & Boost Income
- 454.7K Spending & Discounts
- 246K Work, Benefits & Business
- 602.1K Mortgages, Homes & Bills
- 177.8K Life & Family
- 260K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards