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OSBORNE WANTS SAVERS MONEY TO HELP UK, PLUS BANKERS

 
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thomas davison
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Joined: 03 Jun 2005
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Location: northumberland

PostPosted: Thu Jun 07, 2012 7:57 am    Post subject: OSBORNE WANTS SAVERS MONEY TO HELP UK, PLUS BANKERS Reply with quote

Osborne to re-hash World War Two plan by getting savers to hand over their billions and help force the UK out of recessionThe Chancellor is said to be planning Government 'growth bonds' that offer savers attractive interest rates
This cash would be used to build bridges, toll roads and houses
Experts believe this type of spending would help kick-start the failing economy
By Martin Robinson
PUBLISHED: 12:05, 6 June 2012 | UPDATED: 13:28, 6 June 2012

Plans: George Osborne is believed to be setting up a growth bond scheme to use Britain's savers to pay for Government projects
Hard-pressed Britons may be asked to bail out the Government and help finance a spending spree to pull the UK out of the economic doldrums, it was claimed today.

Britain's 'cash rich' savers could soon be encouraged by the Chancellor to transfer billions of their own money into the Coalition's coffers to help force the UK out of recession.

Using a ploy used during the Second World War, George Osborne wants the Treasury to offer new 'growth bonds' that will persuade people to move savings out of their bank and building society accounts.

The billions this would raise would be spent on new toll roads, green energy schemes and building new houses, sources say, and help boost Britain's faltering economy.
In return savers would get attractive interest rates and potentially tax-free profits.

In 1940, as Britain struggled to cope with the crippling cost of fighting Germany, savings certificates as they were known, paid for Spitfires, tanks and warships, as well as keeping the country running.
Now it appears that the Government wants to use the nation's savers in the same way, building new tube lines, toll roads along Britain's busiest routes and new housing with their money.


'While a lot of families are struggling and have no disposable income, there are others who are quite cash rich but have nowhere secure to put their money with a decent return,' a senior Government source told The Independent.
Cash rich: The Treasury believes that although there are many hard-up families many others have savings they are desperate to invest into a scheme like this one, it was claimed
'Because interest rates are as low as they are, there is the potential to tap into this money and get it invested in infrastructure, which will have a dramatic effect on Britain's long-term growth.
'Not only will it provide a welcome kick-start to the economy at a time when it is sluggish, but infrastructure improvement will will also help Britain's long-term competitiveness and encourage investment from overseas. It is a win-win.'

Mr Osborne's key bargaining chip is believed to be offering savers more of the tax-free returns given to those who have ISAs. And having their money in the Treasury would give savers added security as they would not lose their money.
Old idea: In World War Two a similar scheme was used to raise money to pay for Britain's Spitfires and Lancaster Bombers as the economy struggled with the cost of war
ISAs alone hold more than �385 billion worth of cash and a lack of other decent investment opportunities may open the door for these growth bonds.

Since taking power the Coalition has promised to spend big on infrastructure improvements like a new Dartford Crossing or Northern Line tube extension in London, as well as �20 billion from its balances to support small business borrowing.
Nick Clegg and David Cameron have sought investment from all over the world, including from South Korean pension funds and Gulf countries like Qatar, who have enormous sovereign wealth funds.
But a move to get British pension funds to bankroll some of the proposed improvements have so far not come to fruition, prompting the growth bond plan that could be up and running by the autumn.
A Treasury source told the MailOnline said today the claims were 'speculative', with an official spokesman adding: 'As the Prime Minister said last month, the Government is looking at ways to use the UK�s credibility, through the use of its wider balance sheet, to support growth in the economy. Further details on this will be brought forward in due course.'

If this man had any more brains he would be a half-wit, when he throws out all those people who should not be in the UK, get us out of the EU and stop paying 50 million per day to then, stops giving billions away to foreigners, gets the banks to pay back every penny they owe us, increases the taxes on the mega rich, takes his taxes off petrol, electricity, food and actually tries to help the people of the UK and not just his rich mates, then and only then will people take any notice of this pip squeek.
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