Thankyou David Cameron

[dune]

Every adult in Britain could be handed free bank shares worth £1,000 when nationalised institutions are sold off.Under the unprecedented give-away, the Government would hand over its stakes in Royal Bank of Scotland and Lloyds Banking Group to 46million voters.

 

Under the plan, each UK citizen could receive about 1,450 shares in RBS and 440 in Lloyds – worth up to £1,000 at current market prices – which would be deposited in individual trading accounts.

 

A ‘floor price’ for the free shares would be set. This is likely to be in the region of 74p for Lloyds stock and 51p for RBS stock – the level at which the government bail-out money was injected. Individuals would only keep any gains made above that floor price.

Put simply, if the shares rose in value to £1,500 and they decided to cash in, each taxpayer would make a £500 profit after £1,000 goes back to the Treasury.

 

http://www.dailymail.co.uk/news/article-2007103/Nick-Clegg-urges-Treasury-hand-taxpayers-sell-bank-shares.html

 

I would imagine the scheme will be rolled out just before the 2015 election.

[trousers]

Shouldn't we be thanking Gordon Brown for buying the banks on our behalf in the first place?

 

Just asking ;-)

[Block 18]

Shouldn't we be thanking Gordon Brown for buying the banks on our behalf in the first place?

 

Just asking ;-)

 

Be better if we thanked him for de regulating the banks and allowing them to run riot and get us in the mess we're now in

[redkeith]

This is not giving shares, if you have to pay the first 74 pence of a sale to the government. At the moment. you can buy Lloyds shares for under 50p, and so would be 24p a share up on the government 'gift'.

 

This seems much more like an admission that the two banks concerned will not reach the goverment's floor price in time for the next election, so that they will not have that money available for a pre-election tax cut.

 

This scheme sems to be the next best pre-election bribe. A potential for a bit of capital gains, but only if the fund managers fall in love with the banks again.

[Lord Duckhunter]

I'm puzzled as to why it says "Thanks to Cameron" when it appears to be Cleggy's idea?

 

Surely the best bet is whatever gives the British taxpayer the most return in the long run. I would rather have income tax lowered long term than be given some shares in the banks. That way the harder I work, the more of my own money I get to keep. If this is the best way to maximise the return then I'm for it, if not forget it.

 

One positive I can see is that perhaps the British people will finely move on and I'll be able to watch QT again without endless whinging about banks and their bonus'. Most of the public are like a cuckold husband who just can't seem to get over the fact that his wife has ****ed off. The way we're going people will still be blaming the banks for stuff happening 25 years down the line.

[badgerx16]

Why thank Mr Bland, it's a LibDem proposal.

 

( Lord D got in first ).

[trousers]

Be better if we thanked him for de regulating the banks and allowing them to run riot and get us in the mess we're now in

 

Darn. You stole my next come back line! ;-)

[trousers]

I'm puzzled as to why it says "Thanks to Cameron" when it appears to be Cleggy's idea?

 

Surely the best bet is whatever gives the British taxpayer the most return in the long run. I would rather have income tax lowered long term than be given some shares in the banks. That way the harder I work, the more of my own money I get to keep. If this is the best way to maximise the return then I'm for it, if not forget it.

 

One positive I can see is that perhaps the British people will finely move on and I'll be able to watch QT again without endless whinging about banks and their bonus'. Most of the public are like a cuckold husband who just can't seem to get over the fact that his wife has ****ed off. The way we're going people will still be blaming the banks for stuff happening 25 years down the line.

 

I think 25 years is optimistic TBH. People with strong political views (one way or t' other) seem to habour grudges for a lifetime (and their ancestors' lifetimes)

Edited 23 June, 2011 by trousers

[iansums]

From what I heard on the radio this morning, the sale of these banks would raise £4bn. Surely that money would be best spent reducing the national debt, that is effectively where it came from.

[trousers]

From what I heard on the radio this morning, the sale of these banks would raise £4bn. Surely that money would be best spent reducing the national debt, that is effectively where it came from.

 

Or it could pay for the un-financed VAT cut Ed Balls' was calling for last week....?

[JackFrost]

Can we change the misleading thread title to "Thank you Nick Clegg"?

 

For accuracy of who is pushing the idea, and to annoy dune

[thefunkygibbons]

Stupid idea

 

We will maximise the benefit to the taxpayer by selling the shares in a large block

[Wade Garrett]

Be better if we thanked him for de regulating the banks and allowing them to run riot and get us in the mess we're now in

 

Better thank him for not deregulating more, as the opposition at the time wanted.

[ecuk268]

I think 25 years is optimistic TBH. People with strong political views (one way or t' other) seem to habour grudges for a lifetime (and their ancestors' lifetimes)

 

Very true.

 

I'll never forgive Robert Peel for the Corn Law reforms.

[The Cat]

I think the key word in the article is "could".

 

Another stunning piece of journalism from the Mail. Lots of things could happen. My son could become an Olympic Gold medallist when he's older. Saints could become the best football team in the world. Dune could start reading a newspaper.

[mickn]

I especially like it when people with countless credit cards blame the banks. I don't understand where this tendency so buy so much you can't afford came from? Fair enough if it's food/bills/rent and you're struggling, but loans and credit for cars, tvs, clothes and so on. I'd love loads of stuff, I have quite expensive taste, but I'm poor so I make do with what I can afford. Student debt is quite enough without piling on more.

 

That does mean I'll probably never drive again though. So a national oyster card would be pretty handy, as bus prices around southampton are ridiculous.

 

Portsmouth I think.

[iansums]

I especially like it when people with countless credit cards blame the banks. I don't understand where this tendency so buy so much you can't afford came from? Fair enough if it's food/bills/rent and you're struggling, but loans and credit for cars, tvs, clothes and so on. I'd love loads of stuff, I have quite expensive taste, but I'm poor so I make do with what I can afford. Student debt is quite enough without piling on more.

 

 

Fair play to you, I hope my daughter grows up with the same attitude.

 

Wife and I were in restaurant once with another couple. They bill came and the women pulled out their respective credit cards, our friends remarked on our credit card and asked what the interest rate was. The wife and I looked at each other blanky and I said we havent got a clue, we never pay interest as it is always paid up at the end of the month. As far as I am concerned a credit card is for convenience only.

[Gingeletiss]

I'm puzzled as to why it says "Thanks to Cameron" when it appears to be Cleggy's idea?

 

Surely the best bet is whatever gives the British taxpayer the most return in the long run. I would rather have income tax lowered long term than be given some shares in the banks. That way the harder I work, the more of my own money I get to keep. If this is the best way to maximise the return then I'm for it, if not forget it.

 

One positive I can see is that perhaps the British people will finely move on and I'll be able to watch QT again without endless whinging about banks and their bonus'. Most of the public are like a cuckold husband who just can't seem to get over the fact that his wife has ****ed off. The way we're going people will still be blaming the banks for stuff happening 25 years down the line.

 

Nah! they've already forgot that Labour got us into this mess in the first place, the voting public have very short memory's, except those of you who still demonise Maggie!

[Special K]

Every adult in Britain could be handed free bank shares worth £1,000 when nationalised institutions are sold off.Under the unprecedented give-away, the Government would hand over its stakes in Royal Bank of Scotland and Lloyds Banking Group to 46million voters.

 

Under the plan, each UK citizen could receive about 1,450 shares in RBS and 440 in Lloyds – worth up to £1,000 at current market prices – which would be deposited in individual trading accounts.

 

A ‘floor price’ for the free shares would be set. This is likely to be in the region of 74p for Lloyds stock and 51p for RBS stock – the level at which the government bail-out money was injected. Individuals would only keep any gains made above that floor price.

Put simply, if the shares rose in value to £1,500 and they decided to cash in, each taxpayer would make a £500 profit after £1,000 goes back to the Treasury.

 

http://www.dailymail.co.uk/news/article-2007103/Nick-Clegg-urges-Treasury-hand-taxpayers-sell-bank-shares.html

 

I would imagine the scheme will be rolled out just before the 2015 election.

 

If it was done today, then I'd limit it to a) those who voted in the last general election and b) those who are either current taxpayers or who have worked for more than 50% of their working life. That way the feckless, apathetic and workshy will not be included.

[trousers]

Nah! they've already forgot that Labour got us into this mess in the first place, the voting public have very short memory's, except those of you who still demonise Maggie!

 

^ This :-)

[badgerx16]

Nah! they've already forgot that Labour got us into this mess in the first place, the voting public have very short memory's, except those of you who still demonise Maggie!

Of course they did. Keep believing it, it may come true some day.

 

But maybe you could explain (1) how much control the UK Govt had over the US banking system, and (2) how much additional regulation a Tory Govt would have had in place. But then again, the GLOBAL FINANCIAL MELTDOWN is just an illusion.

[Sheaf Saint]

I'm puzzled as to why it says "Thanks to Cameron" when it appears to be Cleggy's idea?

 

Ah, you see this is how the coalition works...

 

Any good ideas are credited to the Tories and any bad ideas are blamed on the Lib Dems and Clegg in particular.

[Sheaf Saint]

Of course they did. Keep believing it, it may come true some day.

 

But maybe you could explain (1) how much control the UK Govt had over the US banking system, and (2) how much additional regulation a Tory Govt would have had in place. But then again, the GLOBAL FINANCIAL MELTDOWN is just an illusion.

 

It was Gordon Bennett Brown who de-regulated the banking sector in the first place. Had that not happened there would surely have been much stricter controls in place to prevent the large investment banks from being so reckless. Not saying that the crash wouldn't have happened at all - clearly we would still have experienced some fallout from US banking sector - but removing any government regulation from the equation was a massive mistake IMO, and one that Mr Clown must take full responsibility for.

[lutz]

If it was done today, then I'd limit it to a) those who voted in the last general election and b) those who are either current taxpayers or who have worked for more than 50% of their working life. That way the feckless, apathetic and workshy will not be included.

 

Very good......but never going to happen!!

[JackFrost]

Of course they did. Keep believing it, it may come true some day.

 

But maybe you could explain (1) how much control the UK Govt had over the US banking system, and (2) how much additional regulation a Tory Govt would have had in place. But then again, the GLOBAL FINANCIAL MELTDOWN is just an illusion.

 

The Labour party's reckless borrowing that left us with the biggest deficit since WW2 was certainly not an illusion. Of course it was a global meltdown but we were among the first to go into recession and the last to come out thanks to years of Brown and Darling constantly throwing money that we didn't have at problems in the hope they'd go away by themselves

[Gingeletiss]

The Labour party's reckless borrowing that left us with the biggest deficit since WW2 was certainly not an illusion. Of course it was a global meltdown but we were among the first to go into recession and the last to come out thanks to years of Brown and Darling constantly throwing money that we didn't have at problems in the hope they'd go away by themselves

 

Or the selling of our gold reserves!

[dune]

I think it's a brilliant idea because what it will mean is that the sale of the shares will be staggered.

 

Compare the scenario to when the one eyed idiot sold our bullion reserves.

 

This is the difference between a competent Conservative government and clueless Labour government.

[badgerx16]

It was Gordon Bennett Brown who de-regulated the banking sector in the first place.

Try the Banking Act 1987 as a starting point - who was the Govt in power ?

[badgerx16]

Brown and Darling constantly throwing money that we didn't have at problems in the hope they'd go away by themselves

And the Tories are immune to such foolishness, ( which of course means that Black Wednesday didn't happen ).

[mickn]

I think it's a brilliant idea because what it will mean is that the sale of the shares will be staggered.

 

Compare the scenario to when the one eyed idiot sold our bullion reserves.

 

This is the difference between a competent Conservative government and clueless Labour government.

 

The same competent David Cameron who last week was really beginning to f**k you off? Obviously he can wave some cash in front of your eyes and all is right with the world?

[dune]

Try the Banking Act 1987 as a starting point - who was the Govt in power ?

 

Can we get back on topic please.

 

This thread is about saying thankyou to David Cameron.

[dune]

The same competent David Cameron who last week was really beginning to f**k you off? Obviously he can wave some cash in front of your eyes and all is right with the world?

 

At the end of the day we have a choice - Conservative or Labour. I may not agree with every Conservative policy, but having them in power in infinitely better than Labour.

[Dimond Geezer]

At the end of the day we have a choice - Conservative or Labour. I may not agree with every Conservative policy, but having them in power in infinitely better than Labour.

 

May I remind you that we don't have a Conservative government in power, but a coalition.

 

I believe it was the other half of the coalition who came up with this scheme that you are getting all hot & sweaty about.

[dune]

May I remind you that we don't have a Conservative government in power, but a coalition.

 

I believe it was the other half of the coalition who came up with this scheme that you are getting all hot & sweaty about.

 

I believe that poor Nick Clegg was allowed to unveil the scheme, but that it was a Conservative idea.

[angelman]

Can imagine that when people are given these that they will sell them straight away and the share price will bomb. As it is, I wouldn't mind being compensated for my lost dividend from LTSB that used to pay very handsomely before Brown and Lloyds colluded to **** it up.

 

http://www.telegraph.co.uk/finance/comment/jeffrandall/3442788/Whats-wrong-with-Lloyds-takeover-of-HBOS-Just-follow-your-nose.html

[badgerx16]

I believe that poor Nick Clegg was allowed to unveil the scheme, but that it was a Conservative idea.

According to the BBC it was thought up by a junior LD.

 

"The idea is set out by Stephen Williams, Liberal Democrat MP for Bristol West, in a pamphlet for the think tank Centre Forum."

Edited 23 June, 2011 by badgerx16

[badgerx16]

Can we get back on topic please.

 

This thread is about saying thankyou to David Cameron.

The only time I'll say thankyou to him is to thank him for vacating No 10.

[dune]

Can imagine that when people are given these that they will sell them straight away and the share price will bomb. As it is, I wouldn't mind being compensated for my lost dividend from LTSB that used to pay very handsomely before Brown and Lloyds colluded to **** it up.

 

http://www.telegraph.co.uk/finance/comment/jeffrandall/3442788/Whats-wrong-with-Lloyds-takeover-of-HBOS-Just-follow-your-nose.html

 

You only profit from gains over and above the set threshhold that the treasury will take back i.e over the amount to reimburse the treasury from the initial bailout.

 

Of course you could argue that the great unwashed will sell up once they've gained enough to buy a packet of fags, but as far as I understand it if the SP drops below the threshold the shares won't be sold as there would be no gain and thus they wouldn't be applicable for sale. Therefore my understanding is that shares can only be sold at, or above, the initial bailout cost. This SP at this level is higher than todays SP so if and when this scenario becomes applicable you will have at least have recouped some of your loss and therefore it won't be a bad position to be in.

[Lord Duckhunter]

The people of this country can not wash their hands of the problems in the banking sector. It was Thatcher who openned the floodgates but it was the British public that rushed in. Borrowing money they could not afford, taking out mortgages of 100% (and sometimes more) of the purchase price, remortgaged to pay for foregin holidays and new cars, rather than home improvements.

 

The biggest single change to the banking/mortgage system in this country came with the demutualisation of the Building Societies. Who caused that? Was it Thatcher, was it Brown, what about Clegg, cameron? No it was the members of the Societies, the members of the public, they voted for the free shares,thinking about getting free money for nothing. Didn't turn out to be free though, did it?

 

Banks used to lend money for sound business ideas, Building Societies used to lend money for members to buy houses (to live in not as a money making idea).Then everybody got greedy.Why should our children be left to pay for our greed?

[Saintandy666]

*Nick Clegg... I believe is who we should be thanking if this comes to fruition.

 

And Gordon Brown I guess for Nationalising the banks in the first place and stopping the economic collapse. I always said that the debt is over exaggerated mainly due to our bailing of the banks. Once we get our money back we'll be alright.

[JustMike]

I think it's a brilliant idea because what it will mean is that the sale of the shares will be staggered.

 

Compare the scenario to when the one eyed idiot sold our bullion reserves.

 

This is the difference between a competent Conservative government and clueless Labour government.

 

now that made me laugh

[JustMike]

At the end of the day we have a choice - Conservative or Labour. I may not agree with every Conservative policy, but having them in power in infinitely better than Labour.

 

lets see if nurses / doctors / binmen / teachers / litter pickers etc etc agree with you

[Gingeletiss]

lets see if nurses / doctors / binmen / teachers / litter pickers etc etc agree with you

 

Doubt it, nor do they think we will do a Greece or Ireland, but we will if we don't slash public expenditure.

[View From The Top]

The people of this country can not wash their hands of the problems in the banking sector. It was Thatcher who openned the floodgates but it was the British public that rushed in. Borrowing money they could not afford, taking out mortgages of 100% (and sometimes more) of the purchase price, remortgaged to pay for foregin holidays and new cars, rather than home improvements.

 

The biggest single change to the banking/mortgage system in this country came with the demutualisation of the Building Societies. Who caused that? Was it Thatcher, was it Brown, what about Clegg, cameron? No it was the members of the Societies, the members of the public, they voted for the free shares,thinking about getting free money for nothing. Didn't turn out to be free though, did it?

 

Banks used to lend money for sound business ideas, Building Societies used to lend money for members to buy houses (to live in not as a money making idea).Then everybody got greedy.Why should our children be left to pay for our greed?

 

F*ck me. For the 2nd time in a week I agree with a tory!

 

I'm going to have to go and lie down in a darkened room!

[View From The Top]

Doubt it, nor do they think we will do a Greece or Ireland,

 

You are so thick it's scary. You make Tristan look bright.

 

You clearly have no idea about bonds and sovereign debt.

[Jonnyboy]

Doubt it, nor do they think we will do a Greece or Ireland, but we will if we don't slash public expenditure.

 

Paper today said Greece is currently like a man earning £30K having a £1million debt - impossible to pay it off.

 

We are a miilion miles from this.

[Saintandy666]

Paper today said Greece is currently like a man earning £30K having a £1million debt - impossible to pay it off.

 

We are a miilion miles from this.

 

I have to say I hate it when Cameron and co compare our situation to Greece. Our economy is several times bigger and much more stable.

[Sergei Gotsmanov]

I have to say I hate it when Cameron and co compare our situation to Greece. Our economy is several times bigger and much more stable.

 

and Spain's?

[Sergei Gotsmanov]

You are so thick it's scary. You make Tristan look bright.

 

You clearly have no idea about bonds and sovereign debt.

 

and you clearly have no idea of how the global markets view impacts on our economic wellbeing.

[Saintandy666]

and Spain's?

 

Our economy is roughly twice the size of Spain's. We are nowhere near needing an international bail out like the 'pigs'(Portugal Ireland Greece Spain).