Questions from our Facebook group

There were a couple of points raised on our Financial Advice Facebook Group this week so I’ll address them both here and there

Here’s one for you : Can anyone explain why that Martin Lewis is still getting interviewed as a financial expert after the Iceland debacle? (http://www.insiders-view.co.uk/martin-lewis-money-saving-expert-or-money-grabbing-show-off/00180)
Peter Livingston

Peter, far be it from me to criticize another financial commentator – what can I say?! Seriously, though, no-one could claim to have seen the Icelandic collapse coming. It was quite incredible and emphasises how much 22008 really was a year of some horrible firsts in the financial services world. Let’s hope 2009 will be a bit calmer!

Sorry if this is a silly question but this is something I’ve always wondered…with the taxes in this country being what they are then surely the government can get everything for free as long as it uses British firms.

If it pays a million pound for a project it will re-coup a massive percentage of this in tax off the corporation it uses, off the pay to the workers the corporations employ, off the stuff these employees buy and even tax on the interest of any of the unspent money that ends up in banks.

Not trying to be satirical or anything, I am just wondering I am thinking correctly

William Coyle

I think, William, that you would be a great front man for one of those “Buy British” campaigns that we hear a lot about at the moment! I guess the honest answer to your question is that the first obligation of the Government – which is, after all, investing your and my money – is to spend that money with the companies which will deliver the best value and highest quality projects. Clearly, there are benefits in terms of employment and keeping investment in the UK if those companies are British, but they have to be efficient enough to get a good job done too!

Regards Owen

Ask Owen is about providing impartial financial advice for those concerned about managing their money. The country is suffering a serious economic decline and with people concerned about increasing costs of living and fuel bills, teamed with worries about job losses and house repossessions, it is a daunting time; so if you have a question to Owen fill in the comment box below and he will answer.