5 ms·
It says they’ll save 3000 jobs £500,000,000 / 3000 = £166,666 Average salary in port talbot is £28,000 Why not give those 3000 people 100k each and save 200
by albertgoeswoof 3y ago
It says they’ll save 3000 jobs
£500,000,000 / 3000 = £166,666
Average salary in port talbot is £28,000
Why not give those 3000 people 100k each and save 200 million?
- robertlagrant 3y agoMaybe they want more than 3 years' worth of money?
- albertgoeswoof 3y agoIt’s more than three years because it’s tax free (no sense in paying tax on money from the government), so more like 4 years. 4 years salary without having to work a day is an incredible deal
- TheChaplain 3y agoIt would likely not be tax free. And with the risk of sounding cynical, remember that we are talking about normal people where a majority that likely will not plan-ahead that much or save up for when the last day dawns. They realize they need to find work again. Also remember that large industries or businesses tend to attract many small ones around it that depend on it, just like any eco system. Then unemployment rate goes up, people get angry, shady politicians see opportunity to gain votes from disgruntled people... And everything goes * up.
- solumunus 3y agoYou think government employees don’t pay tax on income?
- robertlagrant 3y agoPeople who work for the government (civil service/NHS/prisons/MOD etc) pay tax.
- albertgoeswoof 3y agoAlso Tata are going to invest another 700 million. That’s 1.2 billion pounds for only 3000 jobs. So where’s the money going? Presumably it will be used to subsidise costs to boost profits, pay landowners and owners of capital (eg trucks) rent, corporate bonuses etc. But the headline just says the deal will save jobs and that that the government is doing it for the people. Perhaps there is an upside for the public here, but when the government invests our money, they should lay out a clear business plan and communicate it responsibly to the public, instead of rhetoric and numbers that most people cannot comprehend
- deleted 3y ago[deleted]
- chiefalchemist 3y ago> but when the government invests our money, Should the government be in such investment business? And is this an investment? Or another bailout of sorts that'll ultimately benefit the shareholders? And upper management? Half-a-billion is a significant amount of money.
- _puk 3y agoGiven the impact on the surrounding areas (including a speed limit to "improve air quality" because that'll make a huge difference..), and the general film of black dust on everything in the locality, it really is worth £3500 per person in port Talbot (140,000 population as per Wikipedia) to improve their lives for years to come.
- albertgoeswoof 3y agoBut if you just gave the people the money the plant would shut down and there would be no more pollution…
- Kognito 3y agoI suspect mainly the concern is that steel production is a strategic resource. The intention is to maintain a domestic capability given how critical steel is to the modern economy. It’s dressed up as mainly about the workers and going green because it’s good PR.
- opportune 3y agoThis is a one-time capital expenditure, not a rate like a salary. The payoff time in terms of salaries is just 6 years. Seems like a good deal