Better To Be Helped Out Than Lose Out

摘要

I have been interested to see the public reaction to the Treasury select committee report on the Icelandic bank crisis. True, no-one wants to see the recipients of monies donated to charities losing out over the incident. However, it has surprised me to see how the public have reacted toward the ruling that local authorities should not be helped by the Government for its losses. There seems to be a great deal of delight that there will not be any help for councils who supposedly 'squandered' local taxpayers' money on frivolous investments. But schadenfreude aside, it appears they are missing the point. If the Government puts its money into bailing out charities, rather than councils, it will simply mean the local taxpayers will suffer - either in terms of increased council tax to meet the shortfall, or cuts to services.