Incinerator losses could reach £5.4m

[danrok]

THE total loss on the incinerator euro blunder stands at around £2.2m – and could hit £5.4m if the pound falls against the euro again.

Public Accounts Committee chairman Senator Ben Shenton says that although ministers are trying to play down the loss, there is still a substantial risk to public funds.

The rest:
http://www.thisisjersey.com/2009/08/17/incinerator-losses-could-reach-54m/

So, it appears that the States Treasury still haven't bothered to buy a rake of Euros, and fix the cost of this.

Perhaps, someone lost our tax nestegg in a game of poker?

[rogueelement]

If you had bothered to read my earlier post on this subject, the Euro is gaing against Sterling and will do for the next 3 months at least,If they have not fixed anything now , they should be dismissed.

[rico sorda]

Dismiss Teflon Terry some say its 9.5 million ..... Sparty get your arse down there and show them how its done ......


cheers love

rs

[debumblebee]

We will probably never know the real figure. The deficit in the final salary pension fund has been moving up and down like a pair of draws for donkeys years because we only ever get given wild estimates.

[moot]

If you had bothered to read my earlier post on this subject, the Euro is gaing against Sterling and will do for the next 3 months at least,If they have not fixed anything now , they should be dismissed.

Ozouf was trying to use this the other day on TV as he said that all the experts had told him that the euro would lose ground against the sterling. Interesting that at the time the contract was signed the JEP euro rate was 1.13 and it not far of that now
What we need to know is how much has been paid in euros so far at what rate and has the rate now been fixed
It is nonsense that we even having to discuss such a simple matter. These cowboys make me bloody mad !