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" that's circa 50%++ increase - in one year!"
okay 63% up for those checking.
50%+++ up is just more rounded and punchy sounding.
"...Help BT in this humongous task - not destroy and hinder, and that means help meet Jansens 3 conditions which are:
1) A grant or tax subsidies towards completeing the fibre rollout quicker.
2) O... etc., etc.,"
Just in case any Trotskyist-socialists out there are lurking and reading and thinking I'm proposing supporting capitalist organisations at the expense of robbing the proletariat's hard worked taxes, with that quote from my post below, you should know how much this is already costing BT.
I have the full year's fairly accurate net debt for the full financial year to hand. Didn't want to reveal it until I see the 20 House-analysts consensus forecasts for Q3 (more likely revealed next week now) and net profit forecasts to see how my stuff compares to theirs. But I'll jump the gun on net debt now, as have the accurate H1 trading accounts to extrapolate from.
NET DEBT:
Last year Net Debt was virtually £12b @ £11.996b.
That was approx £1b higher than the average over the 3 years prior to it. So much of a muchness.
The forecast for the full year ending next spring is a whopping increase to £19.6b
- that's circa 50%++ increase - in one year!
And no, only a small part of that is due to pension deficit payments (pension debt is not included above and is seperate to that £19.6b by the way).
Guess what the bulk of that debt relates to? And that's why great strides are being made to sell every asset that's not nailed down. (Had a link flashing ascross my phone this morning £300m winging it's way into BT accounts as a sale of assets agreed in Europe somewhere).
Jansen is looking for cash everywhere to pay for this fast fibre rollout. Hence market mutterings that some of the dividends not safe from his eye in the new financial year after (20/21).
This fibre rollout is of national importance and the only govt help it's had is Guiness book of records fines from Ofcom, thus depleting cash reserves further; not helping.
Govt bonds whatever could be done via deals for BT to exchange shares/ whatever - to repay the govt and thus ultimately the tax payer, in any grants or loans that are extrended to BT. Win-win?
But really, leaving all this to one company that's about to shed 13,000 employees and say let's nationalise part of it and make the taxpayer shoulder all the costs from now on, when the FAANGS lawyers wriggle out of paying for the UK's fibre broadband rollout program, is not a guaranteed economical way out of this.
Instead, for bargain basement money just a grant/loan repayable by shares/bonds whatever - to BT, and the govt of the day can take all the credit. Labour has clearly decided BT is the enemy and best left out out of contributing the rollout. The current govt has fined, threatened and warned BT and call it "helping".
Somebody in govt/opposition needs to start taking Jansens offer v seriously or we'll all be paying higher taxes for busted budgets due to political meddling.
Yes, and I bet today all BT's industry competitors are busily rearranging history to clear themselves of being at the forefront of urging Ofcom for more action to do something more radical to BT as they regarded Gavpants back in the day, as too slow and dragging his feet on fibre. That included the greatest ever fine in Ofcom's history against one company - ever.
If that link below is indicative of the horror, BT's competitor's feel at nationalising broadband, and it's effect it will have on them, then maybe if Labour get no traction and BT come out the other end on December 12th intact and in one piece, maybe there will be a general "toning down" of complaints laid against BT by its competitors.
BT and its competitor's know that the UK lags other developed countries in fast fibre broadband and thus they are more prepared than the UK for IOT.
And of those countries, not one of them achieved that by nationalisation. Only one attempt has previously been made at nationalisation "to get there" and that as mentioned further down below, was Australia - and ended disaterously.
Help BT in this humonguos task - not destroy and hinder, and that means help meet Jansens 3 conditions which are:
1) A grant or tax subsidies towards completeing the fibre rollout quicker.
2) Ofcom muzzled considerably to get this task done
and
3) Help with obstructive landowners piling on delay after delay in BT's name.
(How cheap are those 3 conditions in £££'s to the eventual cost Labour proposes; peanuts?!)
BT's way is a bargain to any govt. Roll your sleeves up get in their with grants and help and get the fibre rollout done. It'll be faster achieved than fining BT heavily at every problem encountered.
In exchange for that Jansen has said he will agree to Johnson's mad 2025 completion date, which even Labour don't think credible as they've doubled it to 2030 under their plan.
"Their plan" ergo: See Australia and the end result outcome of their nationalise Broadband plan. Done now. Australia is having to live with the consequences. The only example of nationalisation of broadband. Labour should take heed.
“Credible” market analysis from Daily Trash ! No