‘Be bolder and we can help you raise the cash’
Wednesday 19th November 2008, 2:30PM GMT.
THE States should do more creative thinking to raise money for essential projects – and enable locals to invest in them, according to Channel Islands Stock Exchange chief executive Tamara Menteshvili.
She urged the States to think differently and make it possible for islanders to put their own money into public facilities.
Ms Menteshvili (pictured) yesterday told a Chamber of Commerce lunch that there were several ways of raising money for projects such as new mental health facilities and rebuilding schools and the runway, but the States was not being bold enough.
‘If you are sitting on lots of assets that generate income, like States housing and the runway, then you have income flows that could be securitised. The States has massive amounts of property.’
She said it was time to consider alternative funding and that her exchange could help.
‘It would be mutually beneficial if the CISX could get them to list what we could call sovereign debt.If tax-take is down and investments are not going to get them the return they expected, one way to change that is to offer a debt security of some sort.’
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If any of us wish to even consider the above then we must all be fools? I will exclude my good self from the last statement!
Are we going to believe that to sell ourselves out to lenders will make things better? If they wish to offer their services for free then I have no problems what so ever? If not then take your business elsewhere cos we can’t afford and hopefully don’t wish to benefit your desires. I feel that this is where the biggest problem lies! Everybody is scared with what the future holds? We have all made the most of things that are actually unrealistic. Reality has kicked inn. Lovely in my opinion. Those that love their homeland can only appreciate what this will bring. Outsiders will take their greedy pathetic gripes elsewhere! Seeya.
Lots are finding it harder and harder to afford their own wants and needs! Those that have cashed inn at our expense in the past need to think about looking into working for a living.
The local honest working folk have had a gut full of their constant dribble which aims to scare us into a position where we pay for their services and protection which ultimately turns out to be nothing other that financing those that are born liars. We can’t afford to be fools any more. It is time that everybody accepted that. Difficult and uncertain times are ahead for most! It is better to do without for a while than to pay others to ride out our rough times. Ultimately we get rougher whilst others are reaping our own rewards! A reverse economy will never work for anybody!
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This is a very sensible thought-provoking article from a professional who has, I’m sure, the best interests of the Island at heart.
It should only be studied carefully by a team who understand these things and can identify, imparticially, the pros and cons of such a type of fund raising. The majority of States’ members should not be included, due to lack of specific advanced fincial knowledge.
Should a recommendation be in favour of raising funds by private/public subscription and Providing the commissions to be paid are not exorbitant, it could solve a problem and move the Island forward.
The GFSC has appointed Howard Flight, an eminent UK financier associated with Guernsey for well over twenty years, as a commissioner for a reason. Maybe this is his chance to shine and offer his significant financial knowledge to the Island, as a Team Leader.
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B. L. Cumner|
Are you local? Regardless, whoes nest do you wish to feather exactly? My suggestion would be not ours but your own?
Come back and comment again!
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