Robin's Diary - 21/2/20
Other people’s money!
Being a motorcyclist at heart, I have followed with interest the demise of Norton Motorcycles, which went into administration last month leaving hundreds of customers and pension-savers potentially millions of pounds out of pocket, even after a series of high-profile Government-backed loans and grants, plus public endorsements by the likes of Theresa May, George Osbourne and Vince Cable.
Then this week I see in the press Saracens Rugby Union who have been fined and relegated for paying players too much money, had received a £22.9m loan from their local council to build a new stand! Surely if they paid players too much, and cheated other teams, they had enough money for a stand.
But as we know, if it’s not your money, it’s easy to give away, and governments and councils don’t have their own money, they spend our money! If it had been earned, would they be so quick to give it away, without more testing questions. Surely there are better ways to spend our taxes!
It’s not just councils, I see it in business, so-called ‘wonder businesses’ one year, disappear the next in a puff over of overspending and under earning! So remember the old saying, it’s a good one, all that glistens isn’t gold!
“I've never really seen other people spend other people's money wisely.” Sandra Lerner