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Cursed

Covid loans make UK taxpayers shareholders in cannabis oil firm


Covid loans make UK taxpayers shareholders in cannabis oil firm

 

Future Fund scheme granted loans to eclectic range of companies, list from British Business Bank shows

 

British taxpayers are now shareholders in a further 65 companies because of a government rescue funding scheme set up during the Covid crisis – including a medical cannabis firm, a video game studio and a chain of bars offering activities like ping pong.

 

A list published by the government’s development bank reveals an eclectic range of firms that have received convertible loans as part of the Future Fund.

The pot of cash was set up by the former chancellor, Rishi Sunak, with the aim of supporting start-up firms struggling to capture investment during the depths of the pandemic and has supported 1,190 companies with funding worth £1.14bn.

The latest data, released by the British Business Bank (BBB), reveals stakes in companies including the video game studio Just Won’t Die, kombucha maker Flower of Life, and Lightpoint Medical, which develops robot technology for cancer surgery. Taxpayers also have a slice of State of Play Hospitality, which runs activity bar brands such as Bounce, Flight Club and Puttshack, that offer table tennis, darts and mini-golf respectively.

The state also holds shares in Avida Global limited, a producer of medicinal cannabis oils, which is chaired by Benjamin Mancroft, who entered the House of Lords in February 1988 – and once made headlines for controversial remarks he made about NHS nurses who were treating him at the Royal United hospital in Bath.

 

The firm opened in 2018 and cultivates the plant from a farm in Colombia. Medical cannabis was made legal in the UK in November 2018, but is still only prescribed by doctors to “very few” people, according to the NHS website.

Around a third of the businesses that have received support from the Future Fund have had their loans converted to equity after they raised private funding that at least matched that from the government. This means the taxpayer now has an equity stake in more than 400 companies.
 

Previous data releases from the BBB have revealed these firms include the sex party planning firm Killing Kittens, the Black Sheep coffee chain and football club Bolton Wanderers. Taxpayers also have equity in another Kombucha maker – Better Tasting Drinks Co Limited – and another cannabis-related firm, the cannabidiol products producer Grass & Co.
 

Ken Cooper, a managing director at the BBB, said: “The Future Fund was created to ensure a flow of capital, at the height of the pandemic, to companies that would otherwise have been unable to access government support schemes, while ensuring long-term value for the UK taxpayer.

“We are pleased to see so many of those companies now going on to raise further private sector capital, which will allow the Future Fund to benefit from their continued growth.”
 

I just can’t handle the bare faced, fucking hypocrisy of it all. Someone make it make sense 


 

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If I were a backhanded, filthy, corrupt POS (aka Tory) then I would definitely peddle the message that cannabis is bad while me and my mates try to get a head start on the market. Then in a couple years we can make a dramatic u turn and financially benefit the most.

Perhaps one day we might actually get a system where politicians are held to account for what they say and do and then perhaps they wouldn't be so keen to lie and manipulate the system. But then again, which one of the lying cunts would actually vote for that in the first place? lol

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5 hours ago, SkyRider said:

Perhaps one day we might actually get a system where politicians are held to account for what they say and do and then perhaps they wouldn't be so keen to lie and manipulate the system. But then again, which one of the lying cunts would actually vote for that in the first place? lol

 

They're all a bunch of lying school kids. You'd expect a person to be of sound mind being as they run the country, not a bunch of bickering clowns. It would be great if they made it legal, but even if they did i suspect there would be stringent rules to follow

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Cannabis is real, it’s a medicine, a herb and a plant that has had a near symbiotic relationship with humans for many many thousands of years.
Laws restricting human interaction with it are a construct created by corrupt individuals to serve nothing more than their own agendas and themselves and carried on by the next generation of leeches all too happy to suck the blood from society to maintain and grow their empires.  That’s why we all say fuck them and will carry on regardless. 

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16 hours ago, mystic_roots said:

You'd expect a person to be of sound mind being as they run the country, not a bunch of bickering clowns

 

thats all part of the con, they don’t run the country the banks run the country, they need the clowns so people look at them, and laugh and carry on,  if nobody looked they couldn’t ‘act’ out the show your paying to watch.. and everyone would riot 

 

it’s a rolling ‘staged’ ‘show’ :yep:  

 

what do clowns do at a rodeo, they protect the bull rider (banks) we are the bulls being ridden but people don’t realise it yet! if they did, we could smash through the fence to go back into the plains!

 

stop looking at and playing with the clowns if you want out..

 

 

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I suspect that tax payers subsidise quite a few grows. They just don't know about it.

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