At the risk of actually knowing something...
I used to work in a revenue generating role, in the revenue generating arm of a public body. It's not uncommon.
The private company is wholly owned by the public body, and all revenues go into their income, rather than to shareholders.
Put it this way, I'm rather proud that my slick sales skills subsidised YOU THE TAXPAYER to the sums of about £1.75m per year. And that's money that didn't have to be found from central government.
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prince-igor si tacuisses, philosophus mansisses, Wed 25 Mar 2009, 14:49,
Reply)
that's great
as I said above, public bodies using public money for investments into private companies for a return made transparent and fully accessible for public scrutiny to be ploughed back into services is one thing
having actual public bodies listed themselves as profit making corporations without knowing the fuill transparency of their accounts shareholders etc out of public scrutiny is quite another
personally I would like to know when they create a new statute and fine structure (as they are in vast numbers each year) - such as £80 fine for putting your bin out early if there's for a good reason for it and not as a new revenue stream for private shareholders - who I'd imagine would bid on new proposed statutes as they are created and loan on a proposed expected return
how do you feel knowing Brown just bailed out a privately owned corporation (bank of england) with millionaire shareholders with public money?
also in the US the Fed reserve is also a privately owned company run for profit for shareholders (JP Morgan (strong Vatican connections hence Princess Tony Blair connection) etc, alot of Crown banks too ) IRS taxation is to pay off the interest on the loan... not for public services
btw - not My tax money ;)
(, Wed 25 Mar 2009, 15:04, Reply)