Edinburgh going bust

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egb_hibs

egb_hibs

Private Member
Joined
Jul 2, 2002
You can read more of this on the bbcs front page photo if you can't get past the firewall

tldr edinburgh appears rooked and spiralling fast

www.heraldscotland.com

Revealed: Edinburgh engulfed by 'frightening' £1.7bn sea of debt - with worse to come

Scotland's housing emergency-hit capital is engulfed by a 'frightening' £1.7bn sea of debt which is set to rise by £1bn by the end of the decade…
www.heraldscotland.com www.heraldscotland.com

www.bbc.co.uk

Scotland's papers: Edinburgh's 'sea of debt' and baby unit fears

The financial sustainability of Edinburgh and the possible removal of neo-natal services in Wishaw make the papers.
www.bbc.co.uk www.bbc.co.uk
 
...in exactly the same way as pretty much every Western economy. Basically, debt servicing has reached levels whereby, were they listed companies, even the dullest analyst would cry foul. It is a bubble of truly incomprehensible proportions. The solution right now though, across the board, seems to be the General Melchett Solution; i.e.: "If nothing else works, then a total pig-headed unwillingness to look facts in the face will see us through."
 
aggie said:
...in exactly the same way as pretty much every Western economy. Basically, debt servicing has reached levels whereby, were they listed companies, even the dullest analyst would cry foul. It is a bubble of truly incomprehensible proportions. The solution right now though, across the board, seems to be the General Melchett Solution; i.e.: "If nothing else works, then a total pig-headed unwillingness to look facts in the face will see us through."
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Tax the rich though
 
They're all doing it. All the doge stuff pales next to Trump's planned splurge. Farage is meanwhile sailing far to the left of Jezza Corbyn. So is Le Pen etc. None of them can really do anything because in a democracy you can't fix this, I very much suspect.
 
Imagine we had such things as Arenas for gigs, darts, tennis, snooker etc.
But Edin council never been one to build for its patrons, leaves Glasgow to take in multi millions every year for it, we just build new roads for cyclists 🫣 costing millions.. oh well, they know best eh
 
Hattie said:
Imagine we had such things as Arenas for gigs, darts, tennis, snooker etc.
But Edin council never been one to build for its patrons, leaves Glasgow to take in multi millions every year for it, we just build new roads for cyclists 🫣 costing millions.. oh well, they know best eh
Click to expand...
Seen a lassie nearly getting crushed yesterday Stu on Minto Street.

Workies van unloading power tools was in the cycle lane because they can't go part of the way onto the pavement.

Bus is pulling into the stop and a silly bint tried to cycle between the bus and the van.

It was roughly a 12" gap between the bus and the van.

The driver ended up shouting at said bint.
 
aggie said:
...in exactly the same way as pretty much every Western economy. Basically, debt servicing has reached levels whereby, were they listed companies, even the dullest analyst would cry foul. It is a bubble of truly incomprehensible proportions. The solution right now though, across the board, seems to be the General Melchett Solution; i.e.: "If nothing else works, then a total pig-headed unwillingness to look facts in the face will see us through."
Click to expand...
Works at Tynie. :coffee1:
 
Is it not obvious yet that the elites want to bankrupt the world?

Then they can bring in fake money,that they control....CBDC!

Us supposed conspiracy theorists have been warning that they don't serve you....For years!
 
Ryan69 said:
Is it not obvious yet that the elites want to bankrupt the world?

Then they can bring in fake money,that they control....CBDC!

Us supposed conspiracy theorists have been warning that they don't serve you....For years!
Click to expand...
Id love to see your browsing history for a week, I really would!
 
Ryan69 said:
Is it not obvious yet that the elites want to bankrupt the world?

Then they can bring in fake money,that they control....CBDC!

Us supposed conspiracy theorists have been warning that they don't serve you....For years!
Click to expand...
And what's the advantage of this to people who already control the dollar?

And what is fake money vs real money, assuming we don't just mean counterfeit
 
The whole western world is in fact going bust because of offshoring, our inability to compete with leaner, hungrier and more reality based countries, and our basic desire to take out more than we put in.
 
Ryan69 said:
Is it not obvious yet that the elites want to bankrupt the world?

Then they can bring in fake money,that they control....CBDC!

Us supposed conspiracy theorists have been warning that they don't serve you....For years!
Click to expand...
looney tunes i might have miss a th in there GIF
 
Consider how much money comes into this city every year.
Only London is wealthier in the UK.
Why are we in this financial state here in Edinburgh ?
There is a reason for everything, and there has to be a reason why we have ended up with this potential disaster.
 
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Hattie said:
Imagine we had such things as Arenas for gigs, darts, tennis, snooker etc.
But Edin council never been one to build for its patrons, leaves Glasgow to take in multi millions every year for it, we just build new roads for cyclists 🫣 costing millions.. oh well, they know best eh
Click to expand...

You forgot all the student flats
 
Council tax reform would help the city but folk don’t want to face the reality of that….

I’m sure there’s plans to charge students for bin collections at least and along those lines we have non Edinburgh residents using our services each day so a congestion charge would be helpful thank you very much.

Tourist tax is a good start
 
Hattie said:
Imagine we had such things as Arenas for gigs, darts, tennis, snooker etc.
But Edin council never been one to build for its patrons, leaves Glasgow to take in multi millions every year for it, we just build new roads for cyclists 🫣 costing millions.. oh well, they know best eh
Click to expand...
I don't know the figures but hosting the biggest arts festival in the world must rake in millions.
 
I'd agree with a tourist tax as long as they money does not vanish into vanity projects and is used to better the lives of citizens.

Oh and the dafties in the city chambers spend at least SOME of the money into the housing schemes.
 
My question would be, how on earth can this city be near bankrupt? We host the biggest arts festival in the world, have tourist attractions that draw 10s of thousands each year, sporting and music events throughout the year, etc etc. Something just doesn't add up with this
 
sockyboy said:
My question would be, how on earth can this city be near bankrupt? We host the biggest arts festival in the world, have tourist attractions that draw 10s of thousands each year, sporting and music events throughout the year, etc etc. Something just doesn't add up with this
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4 million visitors a year!
 
Westside Green said:
Who runs and profits from the festival?
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Surely money from tourism trickles into the council, the economic impact for the city is in the millions each year. Along with rental for festival and Christmas markets sites (stall owners or entertainers don't just turn up in Princes street gardens or the royal mile and not get charged for it)
 
sockyboy said:
My question would be, how on earth can this city be near bankrupt? We host the biggest arts festival in the world, have tourist attractions that draw 10s of thousands each year, sporting and music events throughout the year, etc etc. Something just doesn't add up with this
Click to expand...
Who knows? Black holes like the tram project can't help. The continuing PFI millstones of the ruinous Blair / Brown era? Or filling up the city with airbnbs or non council tax paying students and sending those who do pay scurrying off to east, west or midlothian? Or spending 700 billion a year in freeing palestine, saving the planet and diversity initiatives (probably)? Or just being run by Labour who never saw a pile of cash they couldn't burn?

I suspect also in play is councils are full of public and third sector types who've never had to earn any revenue in their puff.
 
EH17 Jimmy said:
I'd agree with a tourist tax as long as they money does not vanish into vanity projects and is used to better the lives of citizens.

Oh and the dafties in the city chambers spend at least SOME of the money into the housing schemes.
Click to expand...
I see just about every organisation that attracts tourists for short periods of time has their hands out for this already and it's not even being collected yet!

Meanwhile the council are tight lipped about any benefits the residents may get.

I see, like many places around the world, Edinburgh is looking to impose a similar tax on cruise passengers. Good. However I'm not sure how that will work with boats ships mooring half way out in the Firth, at South Queensferry or Rosyth.
 
If everything goes as per usual Jack all the cash will disappear.
 
sockyboy said:
I don't know the figures but hosting the biggest arts festival in the world must rake in millions.
Click to expand...
I heard the other day that it’s the 3rd biggest ticketed event in the world, behind the World Cup and Olympics 🙈
It’s actually mind boggling that a city of over 500,000 people, huge financial institutions, mass tourism, huge festivals, best hotel %age rates outside London, is struggling.
Been saying for decades and it’s still the exact same, the council want a global city by using town council attitudes 🙈
They really are completely incapable and incompetent
 
Hattie said:
I heard the other day that it’s the 3rd biggest ticketed event in the world, behind the World Cup and Olympics 🙈
It’s actually mind boggling that a city of over 500,000 people, huge financial institutions, mass tourism, huge festivals, best hotel %age rates outside London, is struggling.
Been saying for decades and it’s still the exact same, the council want a global city by using town council attitudes 🙈
They really are completely incapable and incompetent
Click to expand...
Its got to be either incompetency or someone is at the hey diddle diddle......I would suspect a bit of both
 
Hattie said:
I heard the other day that it’s the 3rd biggest ticketed event in the world, behind the World Cup and Olympics 🙈
It’s actually mind boggling that a city of over 500,000 people, huge financial institutions, mass tourism, huge festivals, best hotel %age rates outside London, is struggling.
Been saying for decades and it’s still the exact same, the council want a global city by using town council attitudes 🙈
They really are completely incapable and incompetent
Click to expand...
Are any of the financial institutions still Edinburgh based? There's a fair few boutique investment operations but I think the huge ones are pretty much all gone. They still maintain (reduced) workforces in the city but I'm not sure any are still HQ'd here? (I mean the real HQ not regional ones)

That said, I agree with your general point. Judging by @Jack un-smiley on my previous post I think he's picked me up wrong. There's nothing wrong with having non commercial backgrounds on the council. However, to have an absence of commercial nous, which I fear is likely, is a problem.

There should be ample opportunities for Edinburgh Council to raise revenues if they had the right expertise involved. That said I don't know if they are hamstrung by the equally parish councilish Holyrood. Westminster is, incidentally, headed the same way.

How many politicians at any level have experience of revenue generation?
 
@egb_hibs you forgot again and again and again it was John Major that introduced PFI to the UK. Then with the torys having ripped public finances and services to shreds there was no wriggle room to rebuild schools, hospitals and other government buildings that were actually falling down!
 
Jack said:
@egb_hibs you forgot again and again and again it was John Major that introduced PFI to the UK. Then with the torys having ripped public finances and services to shreds there was no wriggle room to rebuild schools, hospitals and other government buildings that were actually falling down!
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How many of Edinburgh's PFI projects, or if you prefer, what share of resultant debts, go back to the Major era Jack? If you don't have the figures to hand, are you nevertheless sure it's more than, well, zero?

I think if you try you might recall that Blair inherited an economy in fine fettle by British standards, after a bloody painful and extended recovery from near collapse in the 70s. And went on to return us to square one, indeed arguably worse. He certainly massively increased PFI.

Go and find a Tory if you want someone to give a fuck about John Major, but at the same time, let's try and stay aligned to reality.
 
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