Serious uk economy rant !!!!!

[tigler]

Just heard on the radio news that Ireland needs bailing out !!!
And guess what ? The UK is contributing £7 B !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

I'll give just one example of why this stinks worse than a Take Away drain !

I watched a program on the plight of people that had lost almost all their pension fund in the Equitable life scandal and that after TEN YEARS the government has negotiated a compensation package for them, total value £1.5 B, against the total loss of £4.5 B !!!! One example shown was a couple that had lost 80% of a £300 K pension pot, so thats going to help them lots aint it !!! The government claims it has to be mindful of what the UK can afford !!!!
Another stat was that 15 of the Equitable victims are dying every day !!!!
Equitable and the government must be rubbing their hands together !!!
Wonder why it took 10 years for even this insulting offer to happen !!!!

GRRRRRRRRRRRRRRRRRRRRRRRRRR, I AM INCANDESCANT WITH RAGE

 

[W4yne]

They watched bailing Corus out when they needed help!

 

[Wayne.]

Didn't most of the irish want the british out and now they want us to bail them out, this country spends to much time & money looking out for everyone else and neglects it's own no wonder we are in the state we are in now and it's only going to get worse. oh and before i start a row i am not having a dig at anyone i just find it ironic that's all the only people who are doing ok are the criminals and politicans oh wait aren't they one in the same

 

[ford34/2]

Economy

The whole of the UK construction industry has not had a single penny pay increase for three and a half years, not a single penny rise, and this cash strapped country can find billions to help others out, in a matter of days with the stroke of a magic wand.

Long past time to put their own house in order.

Lord Coe neither wonder your Olympic building project is supposedly on budget.

2 days a week,Building worker.
Stan

 

[Drains]

Without asking to be flamed...

Just a reminder that
a) it's not a gift - Ireland will have to pay it back
and
b) if the UK doesn't bail out Ireland, some major British banks will probably fail.

Of course this is all largely due to the mental property market in Ireland which was led by borrowing, which was led by lending (by UK and Irish banks), without any sound economic basis. A bubble, which burst. The sad truth is that if UK Gov don't deal with it (or at least get involved), it will make life in the UK even worse. Unfortunately although we (you and me) never took the "risk", nor made the profit, we still have to pay.

Tigler, I understand your incandescence.

 

[wyn]

if the UK doesn't bail out Ireland, some major British banks will probably fail.

From what i have read RBS and Lloyds stand to lose £12.5 bn if the Irish banks default.
I think we also have to stump up another £1.5 bn as our contribution to the IMF part of the Irish bailout.

 

[oilcooled :)]

tanks for the 7 billion present might buy few migs haha, ano ireland is ****ered

 

[NeilH]

well the post above has insulted me. so why dont you delete that too.

 

[malcolm]

I took oilcooled's comment as a joke, perhaps a poorly placed one. I'm not sure a welding forum is the place to discus this issue. It is an issue that people clearly take very personally.

We have a good bunch of members from the UK, Ireland, the EU, and the rest of the world. I would not like a thread to cause ill feeling among members. I sense it will do if it the thread is left open. Apologies to all involved.