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By nebbish (Fri Jun 18, 2010 at 08:50:02 AM EST) (all tags)
Now the Tories are in the boot is on the other foot


I'd been OK with the new coalition until the shocking short-termism of cancelling an £80m loan to Sheffield Forgemasters was announced.

The loan was for investment in civil nuclear power and part of a strategy to cut carbon emissions. It was also investment in a solid industry that could provide future wealth. In the present economic climate there is little guarantee that private investment will be able to match that promised by the previous government.

There's a good article on it here.

I'm actually finding it impossible to unsderstand. Firstly, investment like this is key to getting us out of a recession.

Secondly, IT'S A LOAN!! Surely that is marked AGAINST borrowing in the books?

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Nebbishamatic diary! | 14 comments (14 topical, 0 hidden) | Trackback
(Comment Deleted) by xth (2.00 / 0) #1 Fri Jun 18, 2010 at 09:44:02 AM EST

This comment has been deleted by xth



It's a loan /nt by nebbish (2.00 / 0) #2 Fri Jun 18, 2010 at 09:49:13 AM EST

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It's political correctness gone mad!

[ Parent ]
If it's such a good deal by darkbrown (4.00 / 1) #3 Fri Jun 18, 2010 at 10:33:04 AM EST
There are still banks they can borrow from?

[ Parent ]
£80 million by nebbish (2.00 / 0) #4 Fri Jun 18, 2010 at 10:39:30 AM EST
That's MAJOR investment, I doubt any will put up that kind of cash at the moment, especially for a long-term project

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It's political correctness gone mad!

[ Parent ]
Yes by jump the ladder (4.00 / 1) #7 Fri Jun 18, 2010 at 11:14:49 AM EST
They will, if they think there's a very good chance of getting their money back. It's very uncertain if a big nuclear power programme will take as there are no subsidies on the table and the LIb-Dems are not in favour.

[ Parent ]
I'm actually quite interested by nebbish (2.00 / 0) #9 Fri Jun 18, 2010 at 11:30:52 AM EST
To see what sort of guarantees the govt had on a return on their investment. I'd imagine it's just very long term.

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It's political correctness gone mad!

[ Parent ]
So kick the banks' arses by ambrosen (4.00 / 1) #8 Fri Jun 18, 2010 at 11:14:55 AM EST
If they're going to get bailoutr to keep the economy going, then they should at least keep the economy going.

[ Parent ]
(Comment Deleted) by xth (2.00 / 0) #5 Fri Jun 18, 2010 at 10:41:35 AM EST

This comment has been deleted by xth



[ Parent ]
Haha, which one of you is supposed to be by darkbrown (2.00 / 0) #6 Fri Jun 18, 2010 at 10:44:59 AM EST
Breaker again? All tax comes from that paid directly by individuals?

[ Parent ]
Nuclear power by nebbish (2.00 / 0) #10 Fri Jun 18, 2010 at 11:31:59 AM EST
Is a pretty essential stop-gap between fossil fuels and renewables. We have to start dealing with climate change straight away.

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It's political correctness gone mad!

[ Parent ]
(Comment Deleted) by xth (4.00 / 1) #11 Fri Jun 18, 2010 at 11:44:09 AM EST

This comment has been deleted by xth



[ Parent ]
Scared of nuclear power? by ammoniacal (2.00 / 0) #13 Fri Jun 18, 2010 at 03:30:35 PM EST
You may not be able to see it in Old Blighty, but there's a fucking huge fusion reactor in the sky. Don't panic.

"To this day that was the most bullshit caesar salad I have every experienced..." - triggerfinger

[ Parent ]
Some tips... by Breaker (4.00 / 1) #12 Fri Jun 18, 2010 at 12:07:53 PM EST
  1. Nowhere near enough swearing.
  2. Not enough links; you can get away with single issue -amatic diaries from time to time but don't make a habit of it.
  3. No vague name calling to flush out the swivel eyed right wing loons or somesuch.
Now, in terms of a loan, we're already having to borrow money as a country.  If the government lends money to anyone, it needs to get the interest it pays on its loan (to make it cost neutral to the country), plus interest on top to cover the risk of the loan, do you follow?


Channeling Breaker here... by lolwhat (2.00 / 0) #14 Fri Jun 18, 2010 at 03:52:59 PM EST
(And restating what B just said:)

"Government" money comes from borrowing, or taxation. If the money comes directly from taxes, well, it pretty fucking obviously comes out of the taxpayer's ass. If the money's borrowed, the taxpayer gets it in two holes - by forcing up the cost for the taxpayer to borrow money him/her/itself, and by increased taxes when the loan principal and interest come due. Why is this so difficult for otherwise intelligent people to comprehend? Now get off my lawn.
--
If cigarette packs are required to have pictures of diseased lungs, college brochures should be required to have photos of grads working at Starbucks.

Nebbishamatic diary! | 14 comments (14 topical, 0 hidden) | Trackback