Always Say No To A Bank
According to this article in the Telegraph, the banks are being told to cut down on commission-based selling to their customers.
I never buy anything from a bank. If I could find a pure money transfer company to manage my current account, I might move.
Banks should be made to publish anonymously the salary details of all employees, including all of their benefits and commissions in a form that could be downloaded as an Excel spreadsheet.
That would sort the problem out, as millions would analyse the results in great detail! It might even force some banks to withdraw from the market and we could have more coffee shops, bars and restaurants in good quality buildings.
Camden Tightens Council Tax Rules
It would appear that Camden Council are tightening the rules on Concil Tax for second and empty homes according to this BBC report.
Although, I probably wouldn’t agree with the Council on many matters, I applaud this action.
Those that are greedy and in my opinion stupid to want to live in two homes, should have to pay for the privilege.
I also think that all houses registered to companies, should pay a special surcharge on their Council Tax.
Scotland And The EU
This article in the Telegraph about the relationship between an independent Scotland and the EU is really worth reading.
Not for the article itself, but for the comments that have been added by readers.
Many would be worthy of a good comedian. And plenty bad ones too!
A Flying Boat From Norway
This was also pictured in today’s Times. It’s an escape life boat for an oil platform being tested by dropping from sixty metres.
There’s a video here, that is really worth watching.
The Times says that the boat can carry seventy passengers and is made of plastic.
British Coal In A British Grate
This phrase was quoted in an article in The Times today by David Aaronovitch, where he likens the arguments of those who don’t believe in climate change, global warming and renewable energy, with those who were against the Clean Air Act of 1956. The MP for Bromsgrove, Michael Higgs was the opponent of the Act, who Aaronovitch quoted.
I can remember the smogs of that time and they weren’t pleasant. The only good thing was that we got sent home early from my primary school; de Bohun in Southgate. Teachers would organise us into groups and put a responsible ten or eleven year old in charge. Our parents didn’t know we were coming home, but then most mothers didn’t work in the 1950s.
I don’t think they’d do that now!
English Councils Have Large Reserves
This article on the BBC shocked me. I always get the impression that councils are strapped for cash, but the Audit Commission says that they have £13 billion in reserves.
The councils should take a leaf out of this widower’s book and put it into peer-to-peer lending in their own area. I proposed putting a regional element into something like Zopa here.
They might lose the odd bit, but it would be safer than putting the money in an Icelandic bank.
A Predictable Autumn Statement
Predictable in that it was more of the same, even if you don’t like one or more of bankers, large corporations, benefit claimants, pensioners, unions or drivers. I don’t like at least three!
Some taxes and allowances went up and some went down. Was it ever any different?
We need some radical ideas to get the economy going?
Take these statements which are more or less agreed policy between all the major parties.
1. Banks should lend more to individuals and businesses, so that they purchase capital goods and services.
2. Savers should get a better return on their money.
3. The banks should have more capital reserves.
Point 3 is the elephant in the room, as any money the banks get goes on salaries or to improve their balance sheet rather than more lending.
So let’s leave it out and go to peer-to-peer lending, where borrowers and savers are put in touch by intelligent computer systems.
The Chancellor didn’t take the radical route and help peer-to-peer lending at the expense of the banks. After all if he did, the price of all those Government bank shares would drop. So as they will continue to lose value, wouldn’t it have been better if Gordon Brown had done the prudent thing and put them down, when they went bust?
But then Labour would never have got another vote in Scotland. As it is, Labour doesn’t seem to get many!
Is This Proof That The Lottery Is A Tax On The Stupid?
This story from the BBC says it all. Someone bought a lottery ticket and then failed to claim a multi-million prize.
That makes them doubly stupid in my book.
All the lottery does is encourages more people to waste money they don’t have.
If you want to give a little to charity through the lottery, you are probably better to give it directly to a suitable charity.
I do gamble occasionally, but only where some degree of knowledge or mental skill is involved.
Starbucks And Glasgow Rangers
I’ve been reading about the tax avoidance measures of Starbucks over the last few days and it looks like they are doing a few things to normalise the situation, according to this article on the BBC.
This could be due to the protests and boycotts mounted by the good old British public.
Now some might think, that Glasgow Rangers have also cheated the tax man, by the use of Employee Benefit Trusts. According to this article on the BBC, the HMRC thinks so and is pursuing what they think should have been paid.
But surely the issue in both cases is fairness. Does their tax situation give Starbucks an advantage over their rivals? Many argue that it does.
And if it is true in Starbucks case, it must be true in that of Glasgow Rangers, as they can pay their players more money.
I would like to see one set of rules applied equally to all companies and individuals.
The Alternative Finance Routes Are Coming
I found this article on a website called Bridging and Commercial.
It talks about how Funding Circle are trying to bridge the gap in the market left by the withdrawal of ING, by paying an increased commission of 4% to intermediaries.
It is an article that should be read.
My reservations about Funding Circle is that they are very small in the overall scheme of things. They have currently lent about fifty million pounds, as against five times that amount by Zopa, which lends to individuals.
The Anonymous Widower 