IT'S THAT TRAM AGAIN!

There is no greater example of misleading the public over GB taxpayer expenditure than the pure gall adopted by the creative accounting of Nottingham City Council regarding the city's farcical tram system. The following are two paragraphs from a letter published in the Nottingham Post (29/12/10).

"I cited the case of Nottingham City Transport Ltd., and the special purpose PFI vehicle Arrow that was set up to build and operate the tram.

I am truly astounded by the logic of international accounting standards, as applied in the UK to PFI projects, should allow an organisation like NCT to exclude it's share of Arrow's losses from it's balance sheet, yet include in it's profit and loss account the income received for operating the tram by a joint venture from the very same special purpose vehicle".

There are earlier postings on this subject: ON TRACK FOR A MAMMOTH OVERSPEND (2/8/09), THE TRAM TO FINANCIAL RUIN (9/2/10) and DIMWITS MAKE A COMEBACK (4/6/10). All of which point the finger at the diabolical tricks of modern socialism when intent on fooling the gullible public.



OUR CHILDREN AND THEIR CHILDREN HAVE A BLEAK FUTURE.