Treasury Select Committee comments

  • katalan
  • 10/10/08 31/05/09
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Posted: Sun, 09/11/2008 - 07:19

Interesting comments from the chairman, Labour's John McFall. Worth a listen.
http://news.bbc.co.uk/1/hi/uk_politics/7715971.stm

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Worth pursuing John Mc Fall?

  • 1log
  • 10/10/08 31/05/09
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  • Tue, 11/11/2008 - 09:23

The chairman of the TSC, John Mc Fall's comments are very supportive of our plight. Is there anyway we could use his position on KSF IOM to steer the UK govt. to aid in the release of our assets from KSFUK? I am not sure how it can work or how his position in the TSC can help. Anyone out there with some thoughts on this angle??? Also how about our repeat appearance in the next TSC meeting which includes only Bradford and Bingley , Northern Rock issues. Do we need a repeat resend of all our emails to the TSC? Does anyone know when the next TSC meeting is?


BBC radio transcript

  • Elpasout
  • 10/10/08 31/08/09
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  • Sun, 09/11/2008 - 18:00

Here'sa transcript for Uptight 61 - and anyone else who canot listen online. I wanted to listen again so just dictated as I went. I tnink its fairly accurate. Exciting development I think!

McFall - we are looking at the issue of international regulation. We started that already, and Alistair Darling gave us a great “in” to look at the issue of offshore centres and taxation at the end when he made a very dramatic comment for him that the Isle of Man that was a tax haven in the middle of the Irish Sea. Now we never expected him to say that.

Interviewer - Why is there such an issue then with British people putting money into offshore tax centres John Thurso?

Thurso - Well the easy thing to say is that this is a tax haven - they've got what is coming to them. But from the e-mails we have had as constituency MPs and on the committee it's quite clear that there are a lot of people who been living abroad, can't afford to have an address in this country, and have been obliged to put it into the next best thing to the United Kingdom, which is the Isle of Man, Jersey, Guernsey whatever. It's their life savings, or they're charity workers or people who have sold their house and waiting to go abroad. Things like that. Really tragic cases.

Interviewer - Graham Brady, I understand that members of the committee have been peppered with e-mails about this particular subject.

Brady -We have, we have and some of them are really quite heart-rending stories. We've heard from people who stand to lose everything they've worked for for their whole lives, and have no means of supporting themselves into the future unless there is some redress. There's also this particular quirk that they are accounts with Derbyshire building society, Cheshire building society and perhaps others that were transferred to Icelandic banks in the Isle of Man or Guernsey without any decision being made by the account holder. These people suddenly find themselves in a position where they are hit by the Icelandic banking crisis.

Interviewer - Of course John McFall, the committee can't get these people their money back.

McFall - Yes but there is the opportunity to investigate further because Alistair Darling's comments at the end about the Isle of Man being a tax haven in the middle of the Irish Sea does not do justice to the whole situation. There are people for genuine reasons, because they don't have an address in the United Kingdom, working abroad, had to put that money into the Isle of Man. So that and other cases will be thoroughly examined by us.

end


Thank you Elpasout

  • uptight61
  • 14/10/08 n/a (free)
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  • Mon, 10/11/2008 - 14:56

Thank you for transcribing the audio, Elpasout. Believe it or not, here at Hudderfield University you have to pay £2 for a pair of headphones (unsophistictaed, similar to the airline variety). The staff cannot loan out headphones for fear that users will contract some ear ailment! from prior users!! The UK is becoming more like the US every day!!!


Select c'tee comments

  • uptight61
  • 14/10/08 n/a (free)
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  • Sun, 09/11/2008 - 15:56

Could somebody summarise what was said as I don't have any headphones with me. Thank you.


TCS comments going back to March 2008

  • skintagainnow
  • 10/10/08 31/05/09
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  • Sun, 09/11/2008 - 15:32

This article in the bbc news from March 2008 makes very good reading when viewed along with this report and the John Sparks video report (also on our youtube site).

http://news.bbc.co.uk/1/hi/business/7274114.stm

The video is on this thread :-

http://www.ksfiomdepositors.org/forum-topic/video-interviews-news-media#...


Treasury Select Committtee comments

  • Alastair
  • 10/10/08 30/09/09
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  • Sun, 09/11/2008 - 15:03

Listening almost restores my confidence in the parlimentary systems. The TSC as the legislative watchdog body, and on a cross party basis as demonstrated by this, listened to us and are not going to let the Executive just ride roughshod over us.

I think John McFall offered the chance for a further TSC meetings to address our issues further. Can we lobby to be included within topics for the next TSC which I think was going to be about Northern Rock and B&B?


TSC positive...

  • IceCrusher
  • 14/10/08 25/10/11
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  • Sun, 09/11/2008 - 15:14

I must say that I am pretty much bowled over by such positive remarks in our favour. Mr McFall must have been quite affected by reading many of the 5,000 emails submitted!

Another 15 - 20 minutes in a TSC meeting would be great; we broke ground there, and with more time and pin-point questions we'd break these spineless muppets too. If we were given another opportunity, they'd better do their homework next time - mind you, if they did that we might have them onside anyway...

Ice


Posted BBC comments by MPs to Darkling's ...

  • Elpasout
  • 10/10/08 31/08/09
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  • Sun, 09/11/2008 - 14:32

TSC answers to News section. Very encouraging that MPs are not going to let this drop. Also that our emails and letters have clearly had a big impact!


I agree..... very

  • mikepapa
  • 10/10/08 n/a (free)
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  • Sun, 09/11/2008 - 15:29

I agree..... very encouraging.

Looks like we have the TSC on our side, so time keep up the pressure by more e-mail questions for their next sitting - we need to provide their amunition with our stories!!


Our message is getting through.....

  • Clogs2
  • 20/10/08 31/08/09
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  • Sun, 09/11/2008 - 11:42

Encouraging that the Treasury Conmmittee have realised that we are hardworking citizens with our life savings in Isle of Man for many reasons and they will do something.....continue to email/lobby since it is making a difference.


Will the UK government provide a solution only for some

  • klauseriksen
  • 10/10/08 31/05/09
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  • Sun, 09/11/2008 - 11:27

Listening to this my first reaction was that perhaps something will be done now to return our funds. However being a non-British citizen who previously worked for several years in the UK, I can’t help wonder whether compensation will be provided for British citizens leaving the rest of us out in the cold


They would never get away

  • Captain Mainwaring
  • 11/10/08 31/05/09
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  • Sun, 09/11/2008 - 12:04

They would never get away with it.
The press would have a field day when it was revealed how many of those who received a benefit from Icesave also held the passport of another country, and I am prepared to wager that there were a goodly few.

Anyhow, if you are worried, assign your depost to me -


Solution for some

  • columbgc
  • 11/10/08 14/07/10
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  • Sun, 09/11/2008 - 11:52

I truly hope this will not be the case. Our best chance is to be part of the group.


Excellent comments which I

  • expatfrance1
  • 15/10/08 31/05/09
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  • Sun, 09/11/2008 - 10:39

Excellent comments which I think were very fair and show that we have had a great affect in our lobbying.


Hidden Agenda

  • Anonymous
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  • Sun, 09/11/2008 - 08:26

Hmm I think I am Right the Government are angling into the IOM as a jurisdiction A PLOY as I suspected to change the Tax Laws!


TSC Mc Fall comments

  • 1log
  • 10/10/08 31/05/09
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  • Sun, 09/11/2008 - 14:00

Is there an implication that Mr Darling might reconsider his inital flippant comments about the IOM and maybe contribute positively to return the KSFIOM depositors money - can't help thinking that if we keep up our presence in the spotlight, they will have to give back our money through some diplomatic route to save their face.