£200 loan from the Government

What_time_is_it

Tbh, I quite like being a little in debt to my energy supplier. I would always rather have me holding their money, than them holding my money. 

facade

Swipe said:

facade said:

Set up an online account at NS&I, buy £200 of premium bonds with it, then gradually cash them out back into your bank account as required to repay the loan. You might win something.

It's extremely unlikely you would win anything over 5 years on £200 of premium bonds. I had £200 for over 25 years and won nothing.

True, but you would still have the £200. Premium bonds are like doing the lottery and getting your money back. The immediate result for both (for 99.99999% of punters) is abject disappointment, the long term result is you don't lose anything.

Coffeekup

facade said:

Set up an online account at NS&I, buy £200 of premium bonds with it, then gradually cash them out back into your bank account as required to repay the loan. You might win something.

Nahh..... put it all on red

badmemory

Every "householder" will be paying this back in the next 5 years.  This is even those people who were not householders when it was given.  Just think a windfall for those energy companies.  Say there are 400,000 new households next year & no more for the next 5 years.  That is a windfall of 1,600,000 for the energy companies each year or £70million over the 5.  This is not about helping us at all & never was.  We've been conned again.  This is not even taking into consideration the landlords who currently pay their tenants energy bills.  They will take the £200 a household this year then change their tenancy agreements so that the tenants pay their own.  Landlord +£200 tenant -£200.  Sounds paranoid right, feels paranoid too.  But come back in 18 months & tell me I am wrong.  I actually really hope you do.

GingerTim

badmemory said:

Every "householder" will be paying this back in the next 5 years.  This is even those people who were not householders when it was given.  Just think a windfall for those energy companies.  Say there are 400,000 new households next year & no more for the next 5 years.  That is a windfall of 1,600,000 for the energy companies each year or £70million over the 5.  This is not about helping us at all & never was.  We've been conned again.

The repayment of the £200 goes to the government, not the energy companies - they are just collecting it on the government's behalf.

badmemory

GingerTim said:

The repayment of the £200 goes to the government, not the energy companies - they are just collecting it.

Are you saying the gov are going to collect more than they paid out?  Or are they collecting what was given out.  Then I guess there will be a fait amount of fraud involved in there.

GingerTim

badmemory said:

GingerTim said:

The repayment of the £200 goes to the government, not the energy companies - they are just collecting it.

Are you saying the gov are going to collect more than they paid out?  Or are they collecting what was given out.  Then I guess there will be a fait amount of fraud involved in there.

The government probably will collect more than they paid out and put more back in the coffers - I would rather hope they do!

But who knows? The levy is a pretty blunt instrument, after all.