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When asked by BBC what would happen if the other telecoms did not get ‘on board’ McDonnell said he would 'nationalise them' Oddly not mentioned by the BBC anywhere else....
https://www.bbc.co.uk/news/av/uk-politics-50426027/general-election-2019-mcdonnell-outlines-labour-s-free-broadband-pledge
2.40 min-
tinlode
Half the Country must be seeing through Corbins plans now.
Free full fibre broadband for all individuals and businesses. WHY ? think about the lost taxes ? and the £100 billions cost to do it. Plus the £230 million per year to run it.
"How much corperation tax would HMRC lose from all the broadband providers inlcuding BT open reach as this is going to be free in Corbin Monoxides fantasy world ? how many job losses at other broadband providers ? How much lost income tax and national insurance from employees at other broadband providers. The list goes on and on. The guy needs locking up."
1970's Mcdonell(?) can't manage his figures correctly, Abbott can't multiply let alone add up, the great 'leader' can't lead. And they want to dabble in modern technology. They won't need to add up anyway because it's going to be FREE. A double whammy on costs.
And they present it as though they have only just heard about it.
You couldn't make it up.
Be careful what you wish for.
...more a testament to people misunderstanding the stock market
and risk calculation.
Fact that the price drop was not as severer as many said yesterday is testimony to its strength and quality as an investment.
When boris gets in Jansen WILL deliver
Once boris gets In there'll be a subsidised payment regulations will be lossened
Then jansen can go all out on his expansion ,
"Hopefully the Labour proposal will put a sharp spotlight on this and put a rocket up the behind of this lacklustre lazy company."
Why would anyone business invest in the UK, with the threat of nationalisation hanging over them. How can Labour say they'll encourage investment with their attitude to business, they really are dangerous
fleccy
How much corperation tax would HMRC lose from all the broadband providers inlcuding BT open reach as this is going to be free in Corbin Monoxides fantasy world ? how many job losses at other broadband providers ? How much lost income tax and national insurance from employees at other broadband providers. The list goes on and on. The guy needs locking up.
I'm not sure if anyone else has mentioned this, but Labour nationalising Openreach will destroy the business models of every other broadband provider. Talk Talk will go insolvent, Virgin media will be wiped out, why pay for something you can get for free. The irony is BT might come out of it a winner. My thinking on this is that the biggest part of the pension liabilities will go over to Openreach, BT could load a ton of debt onto Openreach and as BT own, but don't control, the physical infrastructure there may be some rental, or purchase premium attached. Labour may find this more difficult than they think, unravelling and valuing the various bits.
I've had absolutely free standard broadband, uncapped, no charges, zilch, for some years with BT. Deals still turn up occasionally but I'll not be changing my calling plan, no sir.
If Thatcher and the Tories hadn't blocked BT from going full fibre 30 years ago when they wanted to then we wouldn't have this proposal now...Tory ****s.
Looks like I might start my "election based " investment plan a little early, have cash waiting for buying in the utilities space and if, as many of you suspect , BT's SP is hit by the Labour party announcement then it is a good time to buy.
Likelihood of a Labour election win is vanishingly small,BT is still a major cash generator, has bought the football rights without being driven to pay excessively, has held its divi(though I factor in a cut sometime in the future)and its earnings still offer decent divi cover. Having sold here last autumn at ~250p I will re-invest progressively below 200p to stash as part of my high yield portfolio.
Why stop here?! Free money for all I say. As long as I get more than you that’s something I would vote for.
Labour seem to have a habit of loading a gun then pointing that at themselves. Having said that this is just the latest of the unrealistic ideas that will never happen that all the parties seem to be throwing out randomly on a daily basis.
Corbyn will say anything to make him look good but it's all a load of rubbish
His the captain of a sinking ship and he knows it
By the end of the day we will have free petrol and help yourself in Tesco's it all free
Oh and we all get a free car to put the petrol in
As an holder of BP shares I am starting to get worried about what John McDonnells next announcement will be. Nationalisation of BP and free petrol for every car owner.
Broadband won't be free yes he might try to tax the internet companies
But truth be known he will create a new tax so the hardworking man pays for it
The only people that would benefit would be the benefit scroungers
Who for some reason corbyn loves
We don't need Free Broadband, what we need is Corbin Monoxide locking up in Broadmoor. That man really needs some help. I hope they can find him some medication that help him lead a normal life.
Good point
This isn't a vote winner. The British public are not stupid enough to think broadband would be free. They know full well they'd pay five times as much via another tax mechanism to get a free broadband connection.
Honestly, Parliament and the politic establishment are over the cliff. One stupid statement after another.
I expect telco shares in UK to fall tomorrow AM. If you have a telco stock on your radar you've just been handed the buying opportunity of the year.
What if Labour win??? Don't worry. Corbyn is your guarantee that they wont win. If Corbyn becomes the Prime Minister, holding telco stock will be the least of your worries.