SECTOR FALLS OFF
In spite of the presence of the finance industry, Government receipts no longer match capital requirements.
The banks listed below have one thing in common. All of them have gone.
The reasons may be different, but
is the same. The All Hallowed Finance Sector, that veritable deity of
government over the past six years is looking shaky. This is the
that so many warned of, yet were simply ignored.
Nevertheless, the truth is
wrapped in cotton wool and scented so as not to cause offence.
we here such innocuous phrases such as "slow down in growth",
"lean period, "rationalisation" etc. For these
The handful of names may appear insignificant, but when it is considered that there are only some 60 licensed banks in the Island, which includes the 'High Street' banks who would be here anyway, it is significant.
We will shortly find ourselves in the same situation as the early 'eighties. Then, the effects were magnified by the horrendously mismanaged new resident drive of the 'seventies. This created an artificial economy based around tax-avoidance and speculation and, to feed the demand for labour, many people flooded into the Island. The inevitable happened, and not only were these people out of work, but the Island's intrinsic economy was unable to support them.
Those that could got out. Now, as the banks leave, not only do we lose their financial contribution, but our own limited intrinsic economy will have to support the economically active individuals that the Government is so fond of attracting.
It is clear that if the policies
Vannin had been followed during the early eighties, the economy would
recovered naturally, if a little slower. In simple terms, it is
increasingly questionable as to whether
The most damning condemnation of the whole concept of the new resident policy is that whilst overall population increases, our own young talent continues to emigrate. They want interesting, diverse jobs that offer a sense of fulfilment. To some extent, these are available now, but rather than train people, both Government and industry use an "off the shelf" policy of employment.
In spite of the presence of the finance industry, Government receipts no longer match capital requirements. Our Government's reaction to the latest events will be sickeningly predictable. Rather than realising that the situation will only get worse, it will start to relax regulations and offer better financial incentives to the industry. The result could easily become that we end up making an overall loss on its presence.
We must bite the bullet, and let it go. The People who came here to feed the industry will, for the greater part, go back to wherever they came from. Yes, there will be a struggle, but out of that struggle will emerge a smaller, but more secure and diverse economy.
The S.I.B. :Common Sense dictated
this was unsound : The Government recommended it.
These last two prove what Mec Vannin has always said, and which the Government has always denied. The Finance Sector can disappear overnight if it chooses. These banks were making a profit.
Cha row eh traa foddey roish my ren Mnr. David Corlett O.K.F. soilshaghey magh ny daaghyn firrinagh echey. 'Sy fogrey-polasee 1991 echey, dooyrt eh, "Culture is a living thing. It should be allowed to grow and develop.....", agh ta'n dooinney shoh feer an-ashoonagh, myr ren eh soilshaghey magh dooin ayns y chied fogrey-polasee echey, mysh tree bleeaney er dy henney.
Vrie eh jeh Bnr. Hazel Hannan O.K.F. mychione ynsaghey yn Ghaelg ayns nyn scoillyn. Dy jarroo, t'eh kiart yn costys y hirrey ec y toshiaght, agh s'baghtal nagh mie lesh Mnr. Corlett yn Ghaelg.
Ta 40% dy phaitchyn as nyn ayraghyn as moiraghyn graihagh urree. Ta trimshey er ram sleih yn laa t'ayn jiu er y fa nagh row yn Ghaelg goll er ynsaghey ayns ny scoillyn tra v'ad aeg. Ta genney jannoo er Mnr. Corlett er y fa nagh mie lesh yn Ghaelg. Ny lhig da'n genney cheddin jannoo orrin myrgeddyn.
It didn't take long for Mr. David Corlett to show his true colours. In his 1991 manifesto, Mr. Corlett stated, "Culture is a living thing. It should be allowed to grow and develop....." but this man is very anti-national as was shown in his first manifesto three years ago. He asked Hazel Hannan M.H.K. about the teaching of Gaelic in our schools. Indeed, it is right to question the cost at the outset, but it is easy to see that Mr. Corlett doesn't like Gaelic.
40% of children and their parents do like it. There is a sadness with many people today because Gaelic was not taught when they were young. It's Mr. Corlett's loss that he doesn't like Gaelic. Don't let him make it ours as well.
Learn Gaelic Yourself
If you would like to learn Gaelic
the are many classes available. The Isle of Man College has been
beginners classes for several years, and Yn Cheshaght Ghailckagh hold
at all levels. There are also many other classes in the Island. The
way to find out more is to ask at the Manx National Museum in Douglas.
In the meantime, here are some useful phrases:
Tooilley Gaelg er y Radio!
Ta Mnr. David Callister goill
er yn radio lesh "Moghrey mie" myrgeddyn nish!
We can be thankful, I suppose, that this year will not be a "Royal" Tynwald, and that we will be spared the usual nauseous claptrap from the Establishment and Manx media which treat the presence of any royal figure, no matter how minor, as some kind of divine visitation. It is difficult to understand why an island that plays so much on the fact that it is not part of the United Kingdom and indeed, has a financial sector that depends on that status, should feel its need to proclaim its loyalty to the English Queen.
On second thoughts, however, perhaps it is not so strange. An island which debases itself before the desires of U.K. tax-dodgers would naturally wish to have, as its patron or mascot, a tax-avoider supreme: Queen Elizabeth. The Manx Government's creeping obsequiousness to any member of the so-called Royal Family then becomes perfectly clear to understand. No wonder we have the Queen's face on all our stamps and banknotes : she is, in fact, a fine example of all that is most resourceful in tax-avoidance traditions, and maybe that is her true relevance and importance to this Government.
There are straws in the wind at long last, which indicate a growing disenchantment in the U.K. with the notion that an over-privileged "aristocrat" should be in any position to regard the ordinary British people as "subjects". There are serious questions being asked as to why the Queen should claim exemption from taxes and from progressive laws relating to unfair dismissal or racial discrimination.
Here in Mann, Mec Vannin is the
to proclaim itself republican for the simple and entirely sensible
that we wish to be Manx Citizens, and not subjects of the British Crown.
Our congratulations to Alistair Ramsey on his forthcoming move to the financial section of the Isle of Man Examiner. We shall miss his vitriolic comments in the "Independent" but can look forward to our elevation to the "Pink Pages" of the Examiner.
In the mean-time, the "Indy" has been advertising for a Senior Journalist. An appointment long overdue, in our opinion.
A reply to one such attack just
Christmas 1991 carried an editorial rider clearly inferring that some
our statements were incorrect, and challenged Mark Kermode to produce
evidence. Mark Kermode did so, but the letter was never published.
the paper's title?
TERRORlSTS DON'T LIKE THE BILL!
Our source in Government Buildings has just revealed to us that Tynwald has recently BACKED DOWN on an amendment to the Prevention of Terrorism Bill that would have allowed for STRONGER MEASURES to enable the detection and prosecution of terrorist groups using the Isle of Man and its facilities in the course of their DESPICABLE DEEDS, which are probably illegal under Manx law.
This embarrassing about face by Tynwald is the result of an "unfortunate oversight" which came to light after complaints from the leaders of some Island-based terrorist organisations, claiming that they had not been adequately consulted about the amendment.
Seamus 0'Freen, spokesperson for one such organisation told us, "We are most upset. The new amendment would have seriously impaired our activities, some of which are quite secret. Whilst we recognise that it is the business of Tynwald to issue such amendments and we are not opposed to it in principle, we would have appreciated the courtesy of some level of consultation."
A Government spokesperson is said to have issued the following statement:
"It is quite an embarrassing situation. An increasing number of such (terrorist) organisations are availing themselves of the Island's unique position and it is most unfortunate that we have offended some of their number in our short sighted attempt to tighten controls on illegal activities. We're very sorry and we promise not to do it again."
N.B. Mec Vannin would like to
make it clear
that if anyone knows anyone called Seamus O'Freen, then it is not the
person as mentioned in this article.
S.I.B. & B.C.C.I.
The spectres of these two failures still hang over the Island, yet the finance industry itself rejected measures to prevent a recurrence.
The article above isn't as silly as it sounds. Terrorist organisations use both international banking and property development to both launder and multiply their funds. The proposed Section 32 of the 1991 Companies Bill, which would have empowered the Treasury to investigate the activities of Manx registered companies using a competent designated inspector, was drawn up using recommendations made by Deemster Corrin in the report that followed the S.I.B. collapse.
Built into this clause were measures to ensure that the Treasury could only initiate such an investigation upon the satisfaction of certain important conditions. Nonetheless, the F.S. bluntly told the Treasury to remove the clause, which it promptly did. The reaction of these people clearly confirms three very disturbing facts about the finance industry that Mec Vannin have always steadfastly maintained:
1. The commitment of the F.S. to ensuring that all monies are legitimate is only skin deep.
Infact, it can be argued that without illegal laundering, tax evasion, sanction breaking etc., there wouldn't be an international finance industry.
2. As predicted by Mec Vannin, the F.S. are now our real political masters. It stays clear of direct involvement where it can, to keep the populace docile and compliant, but on this occasion it chose to flex its muscles.
3. The way is still wide open for
S.I.B. style collapse. It took an incredible nine years for the report
and recommendations to appear, and the Treasury have effectively thrown
it in the bin. So it's (dodgy) business as usual.
At the end of the day, Margaret
has to be admired. At her last election as leader of the English
Party, she categorically stated her belief in the privatisation of
Service Industries. She went on to say that she
In November of last year, Miles Walker made no such claims or even inferences, yet it is becoming increasingly apparent that he was aware and in favour of an impending approach from Scottish Power at that time. What a shame he cannot be as forthright as the woman whose policies he so clearly admires. Instead, he continues to hide behind the secrecy of closed doors.
"Hire and Fire" Powers to Stay
It was a sad day when, at the very last stage, Mr. Noel Cringle's bill to remove the Chief Minister's right to appoint ministers at will failed. There had been several changes in voting on both sides, the most surprising of which was that of Mr. Peter Karran, who had been a consistent opponent of the "hire and fire" powers.
We were not able to contact Mr.
for his comments before going to press.
Miles walker should have realised that his decision to stick a political knife between David Cannan's shoulder blades would come back to haunt him: Mr. Cannan currently has Mr. Don Gelling wriggling on the hook over the financial affairs of Cushag Communications, and Mr. Walker seems content to stand back and watch, but how long before it's Mr. Walker's turn ?
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