Eurotunnel debts

[icamm]

Apparently Eurotunnel ar eclose to agreeing something with tha banks (again). They have already tried to get £4bn righten off completely.

http://news.bbc.co.uk/1/hi/business/4381272.stm

Why don't they just admit it's failed and fill the damn thing in again.

I have no problem with the concept of the tunnel but for a company to be running such massive debts is plainly rediculous

[8Pack]

Made a crossing about 4 yrs ago, week before Christmas. Ah! I thought Eurotunnel! Phoned them up..Car..two people..5 day return?....£300 sir, shall a book that for you?.. Er! no thanks I'll go by ferry for £75 return!

[nonegreen]

The problem here was the dogma of the day was public sector bad private sector good. Major projects like this, the moonshot and concorde would never happen normally unless governments have the will to fund it. This was a contrived thing to satisfy a silly bitch called Maggie. I believe the losses are underpinned by the government anyway, IIRC we are now in civil servants allowing the tax payer to get ripped off once more for interest payments needlessly made. Nobody criticises the public sector more than I do but there are some things that need state funding. We could pay for it easily by sacking social services and the various inspectorates.

[8Pack]

MMmmh! SOME social services etc ...yes Nonners.

I sometimes like to taunt our U.S. Ph'ers by saying that their Tax & Spend policies (NASA, etc) are Commie inspired! But Yes, some very large projects like this do indeed need national funding. I still despair of Blue Streak(Prospero) and Hotol!..... Maybe this is where past left/centre governments went wrong and funded old industries instead of the future ones?...

>> Edited by 8Pack on Friday 28th October 02:32

[john75]

£4 billion works out about 2p in the basic rate of Income tax for one year.