Puts the FIT tariff debate into perspective. UK magics up £10 Billion to IMF

[confounded]

UK magic's up £10billion to help other countries with their debt. Of course it is a loan but will be see it all back?


BBC News - IMF doubles its lending firepower

The IMF says it has received firm commitments of more than $430bn.


The money is to help economies in trouble and includes just under £10bn ($15bn) from the UK in loans to the International Monetary Fund (IMF).
It is part of a global effort to bolster the fund's lending capacity, which IMF managing director Christine Lagarde wanted to increase by $400bn.





Puts the FIT tariff debate into perspective......

DECC revises FiT budget; adds £197 million to spending cap | Solar Power Portal

Total PV commitment - Level D energy efficiency (April Start)


[TABLE="width: 500"]
[TR]
[TD="align: center"] Year[/TD]
[TD="align: center"] Budget with 20% headroom[/TD]
[TD="align: center"] % of budget allocated (with headroom)[/TD]
[/TR]
[TR]
[TD] 2011-12[/TD]
[TD="align: center"] £107,290,540[/TD]
[TD="align: center"] 121
[/TD]
[/TR]
[TR]
[TD] 2012-13[/TD]
[TD="align: center"] £322,733,142[/TD]
[TD="align: center"] 99[/TD]
[/TR]
[TR]
[TD] 2013-14[/TD]
[TD="align: center"] £338,869,799[/TD]
[TD="align: center"] 103[/TD]
[/TR]
[TR]
[TD] 2014-15[/TD]
[TD="align: center"] £355,813,298[/TD]
[TD="align: center"] 110[/TD]
[/TR]
[/TABLE]

 

[finchy]

Best still they think they will get the £10Billion back...not if its going to Greece .....or Spain or Italy or Ireland ..... !!

 

[Earthstore]

Ah, the world of politics, borrow your way out of dept...
Me thinks they are just delaying the inevitable, but what would I know.

 

[finewine]

Ultimately most of the money that is paid out in FITS to UK based systems gets spent in the UK again by those that have received it, most of which is recouped in VAT, corporation tax etc and so on. If I earn £850 from my FITS this year then as soon as I spend it in a shop, £141.66 is immediately recovered by the treasury in VAT anyway. Its said that within 3 transactions 95% of the money is hovered back up in taxes.

 

[confounded]

Ultimately most of the money that is paid out in FITS to UK based systems gets spent in the UK again by those that have received it, most of which is recouped in VAT, corporation tax etc and so on. If I earn £850 from my FITS this year then as soon as I spend it in a shop, £141.66 is immediately recovered by the treasury in VAT anyway. Its said that within 3 transactions 95% of the money is hovered back up in taxes.

Interesting angle, not thought of it like that before.

 

[confounded]

Ah, the world of politics, borrow your way out of dept...
Me thinks they are just delaying the inevitable, but what would I know.

That is the problem with a debt based monetary system, it needs to keep expanding or it is bust. Individuals are maxed out so money is being printed and borrow on our behalf, as you say kicking the can a few more years down the line. Don't put good odds on this ending well either.

 

[Earthstore]

Might get a cheap holiday to Greece though, you know, like it used to be...

 

[flamefix]

Might get a cheap holiday to Greece though, you know, like it used to be...

Not knowing my Greek friends of two years living there, their idea when things get tight is is to put prices up, not down! As to my earlier post it's more likely the money for FIT Is going to finance clean safe nuclear power. The IMFs 10bn, isn't even given yet, is subject to the USA giving and unlikely before next year. The government has a year to save up!

 

[moggy1968]

I see our government is looking at borrowing on 100year bonds

That rather smacks of passing your problems onto the next generations.
Makes a change from the usual 5 year policies I guess!!

 

[solarcat]

Best still they think they will get the £10Billion back...not if its going to Greece .....or Spain or Italy or Ireland ..... !!

Spain & Italy DID NOT ask for any IMF support

 

[confounded]

Spain & Italy DID NOT ask for any IMF support

Exactly
[SIZE=+1]"Let me issue and control a Nation's money and I care not who makes its laws".[/SIZE]

[SIZE=+1]Amsel (Amschel) Bauer Mayer Rothschild, 1838:[/SIZE]

 

[Energetic]

Exactly
[SIZE=+1]"Let me issue and control a Nation's money and I care not who makes its laws".[/SIZE]

[SIZE=+1]Amsel (Amschel) Bauer Mayer Rothschild, 1838:[/SIZE]

True. The banksters are in charge, the politicians don't really know what's going on and the people are being fleeced.