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The joys of deregulation...


jondf 8 2.5k
3 Apr 2013 9:30AM
Another product of the free market gets called to book for 'mis-selling' to the hapless consumer. Could sound more like 'criminal activity' to some but there you go -

http://www.bbc.co.uk/news/business-22011717

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robway e2
9 317 Wales
3 Apr 2013 9:39AM
Deregulation and the Free Market have been and still are, a curse on this country. It's only my humble opinion so what do I know ?
jondf 8 2.5k
3 Apr 2013 10:23AM
It might be that those who operate and run in the 'free' market see themselves as superior beings. I once overheard a director of a company refer to staff on the factory floor as plebs. I've also heard managers refer to staff as 'bodies' .....charming.
cameracat 10 8.6k 61 Norfolk Island
3 Apr 2013 11:29AM
It really depends who you are where the law is concerned.

Law for the Corporate version " mis-selling gas and electricity " gets ticked off when caught out, Told to behave ( or don't get caught ) next time.

Law for the Joe Public Version " mis-selling gas and electricity " Gets charged with " Fraud " sentenced, Fined & locked up.

It was once said that no one was above the law, The modern version of this has been amended to No One Is Above The Law, If they Can Not Afford To Be.....Grin

I rest my case.....LOL....Wink
thewilliam 6 4.7k
4 Apr 2013 7:16PM
When people working for the major banks were found to have manipulated LIBOR a few months back, no individual was charged, convicted and jailed. The transgressors go off scot-free and the bank itself paid a massive fine. That means the shareholders - pension funds and ordinary people like me paid the penalty.

Same again with the energy companies. Any chance of the bank paying a speeding fine for me? Thought not!
Snapper 9 3.8k 3 United States Outlying Islands
4 Apr 2013 7:45PM
If I was a gambling man, I'd bet that they'll probably survive the fine ......................

SSE, one of the UK's biggest energy suppliers, has seen half-year profits surge by 38.3%.

The company made 397.5m in the six months to the end of September, compared with 287.4m in the same period last year.

SSE, in line with other major energy suppliers, put up its domestic gas and electricity prices by an average of 9% one month ago.
Nov 2012
thewilliam 6 4.7k
5 Apr 2013 4:11PM
Paying a fine of just 10 million for misdeeds that push profits to nearly 400 million seems a very sound investment to me! Where's the problem?
mikehit e2
5 6.8k 11 United Kingdom
5 Apr 2013 4:15PM
Assuming all 400m profit was all from the mis-selling of services...
jondf 8 2.5k
6 Apr 2013 9:09AM
It's the depressing aspect of this and other scandals like it that has you wondering just who you can trust. But what's the alternative? Nationalisation? I'm tending to think so where utility services are concerned. There'd be greater transparency and direct accountability to government. Privatisation was meant to be good for the consumer but instead (where utilities are concerned) has led to a situation where profit motivated directors with huge salaries, bonuses and pension entitlements have fingers in large pies cooked up on a bed of deceit.
Evertonian 1 461 England
6 Apr 2013 9:55AM

Quote: But what's the alternative? Nationalisation? I'm tending to think so where utility services are concerned. There'd be greater transparency and direct accountability to government..


Yes there would be regional Department of Energy offices, County Department of Energy offices, North, South East & West DoE offices as well as the main London DoE. There would be full unionisation in all the offices with lots of full time union officials paid by the taxpayer to carry out no work other than union duties. Overstaffing would be prevalent as Digby Jones observed when requested by Tony Balir to look into efficiency on public departments, 3 people in the Public Sector are required to perform the work of one in the Private Sector. The cost of wages and inflation proofed pensions, non contributory in most cases, thee xtra bank holiday entitlements the extra sick and duvet days - Yes I can see that Nationalised energy supplies would save the taxpayer a fortune!!
jondf 8 2.5k
9 Apr 2013 7:29AM

Quote:Yes there would be regional Department of Energy offices, County Department of Energy offices, North, South East & West DoE offices as well as the main London DoE. There would be full unionisation in all the offices with lots of full time union officials paid by the taxpayer to carry out no work other than union duties


But would the Tories allow that to happen? It could be a productive exercise in which the government sets an example to private enterprise. Your conjectural assumptions dressed up as fact don't take into account the changing nature of government departments that're coming increasingly under the cosh these days with wage freezes and reduced pension entitlements. Neither do those assumptions allow for the sense of public anger over the antics of private utility provision companies.
lobsterboy e2
10 14.2k 13 United Kingdom
9 Apr 2013 8:13AM

Quote: It could be a productive exercise in which the government sets an example to private enterprise.


Ahh but that can never be allowed. When the private sector is more efficient than the public it is due to them being more efficent, when it is the other way around then it is "unfair competition" Wink
Evertonian 1 461 England
9 Apr 2013 9:17AM

Quote:
But would the Tories allow that to happen? It could be a productive exercise in which the government sets an example to private enterprise.



Who really runs the government? The mandarins stay on whilst ministers change, they seem to make the decicions as per "Yes Minister". The new departments would be set up despite what we think just like the reduction in Civil Servants is nothing like we are led to believe. I understand that 4000 temporary staff are now working at the UK Border Department or whatever it is called. These temporary staff are hired by the mandarins in their ivory towers and the charges for such agency staff is far higher than the costs of employing them 'in house'.

Mandarins rule, make no mistake. If not the mandarins, then the EU which is even worse.
jondf 8 2.5k
9 Apr 2013 9:52AM

Quote:Mandarins rule, make no mistake. If not the mandarins, then the EU which is even worse.


Tony Benn maintained UK governments were little more than managemment teams acting on behalf of the private business sector. As to mandarins ruling in the way inferred, I very much doubt it. Advice will be saught and advice offered but responsibillity rests with the minister concerned. If he or she can't make decisions, they shouldn't be there.
brian1208 e2
11 10.4k 12 United Kingdom
9 Apr 2013 10:12AM

Quote:If he or she can't make decisions, they shouldn't be there.


They make the decisions but its the "Mandarins" who carry them out - or not - which I guess means that they have overall control of what happens, very much as in "Yes Minister" I would guess Smile

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