Rishi Sunak’s next move

[Roman Roady]

 

What’s the worse that can happen. 

Loss of confidence in the currency?

[Dreamcasting]

There won't be any loss of confidence in the currency. All currencies are manipulated and pegged because they all conform to the same system. It's only backwater countries like Zimbabwe that can't play the same system because they don't abide by the same NWO principles that the majority do.

Sunak had done nothing different in principle to what is happening in other countries. 

[Roman Roady]

So whats the verdict on his latest give away then...sound like Burnham got exactly what he wanted to me.

[dances with sheeple]

 

Yes the precedent will be set, no excuses for not extending again and again and again. Infact one could argue that this is a reason for people not to follow social distancing rules. Why work when you can loaf at home?

Commercial and rental gets hammered in that situation? I don`t think the PTB want this, I think they want to try and stamp the virus out, then get back to the debt circus on steroids. Will the punters still play along with the same enthusiasm though?

[Roman Roady]

There has to be some moral hazard here. Why would furloughed workers want to comply with COVID precautions when they know they will get a paid holiday if it all goes pear shaped?

 

Something doesnt add up with all of this.

[nightowl]

 

Something doesnt add up with all of this.

You can say that again!  The original furlough now looks like one of the more coherent decision now though🙄

[Andy T]

The 66% scheme was penned for retaining skilled jobs, where the issues were poor trading conditions, particularly those  industries that didn’t suffer initially due to long lead times etc. but were starting to suffer towards the end of the furlough scheme.

Of course the changes will help skilled industries jobs even more, but the original plan of some jobs e.g. hospitality not being viable , and plans to create new jobs to replace them seems to of been binned in favour of paying wages for any job and kicking the can down the road.

Sunak and his family/children will not be the ones paying back the huge debts in the future, normal young people will be though.

 

[AAA]

I don't understand why government uses our taxes to pay wages of waitresses or cleaners!!! Are it these viable jobs? What will be a problem if they apply for unemployment benefits instead, and couple of pubs go bankrupt? This is total madness and it will not end up very well.

[reddog]

I thought the point of the furlough scheme was to retain skills in areas of the economy such as Aerospace?

 

Nothing against catering (I have worked in that area) but in most cases the skillset doesn't take many years to develop, I don't think at the end of Corona there will be a huge skills crisis in catering.

 

This situation is getting crazier and crazier, when will it register with the government that they don't have infinite resources?

 

As soon as Covid is over (spring / summer next year?), and we have a couple of quarters that show what level of debt we are in, it will be a very painful situation!!

Edited October 22, 2020 by reddog

[scottbeard]

 

This situation is getting crazier and crazier, when will it register with the government that they don't have infinite resources?

As soon as Covid is over (spring / summer next year?), and we have a couple of quarters that show what level of debt we are in, it will be a very painful situation!!

I agree, I think they are now in full on panic and just throwing money at anyone who shouts, with the amount decided based upon how loud they shout.

I think for the first time in my adult life the government has actually lost control of the country.

I also now think it's fanciful to imagine COVID being over by Summer next year - originally I thought the whole thing would be over by now...now I think the health effects will continue to end of 2021 at the earliest, and the economic effects well beyond that.

[Former postman]

Rishi back out with the money hose today.

 

[HPCatlast.]

 

Presumably if the pubs are closed and airlines cancel flights then this fails the test for a `viable` business and staff currently working at least a 1/3 of hours?

Also this from the BBC:

• All small and medium sized businesses will be eligible for the scheme

Sounds reasonable, but then also this:

• Larger business will be eligible                                     if their turnover has fallen during the crisis

How can this not apply to every business then? Even McD's and Primark's turnover has fallen this year. Are they eligible for this too? Won't look so good for them if they take this extra gov money (i believe Primark already opted out of the £1K retention freebie).

(TORY DONOR Business's?).

 

[msi]

 

Rishi back out with the money hose today.

 

If he sprayed any more, you could have the Tory party sponsored by BangBros*, narf narf

 

*NSFW google term

[TheCountOfNowhere]

I said from day one...ex-GS, son in law to a foreign multi-billionaire...was going to be a f**king disaster for Britain....and it's getting worse.

 

A

[Pop321]

 

I thought the point of the furlough scheme was to retain skills in areas of the economy such as Aerospace?

 

Nothing against catering (I have worked in that area) but in most cases the skillset doesn't take many years to develop, I don't think at the end of Corona there will be a huge skills crisis in catering.

 

This situation is getting crazier and crazier, when will it register with the government that they don't have infinite resources?

 

As soon as Covid is over (spring / summer next year?), and we have a couple of quarters that show what level of debt we are in, it will be a very painful situation!!

Just a thought but isn’t the point of paying the plebs is to ensure mortgages, rents and businesses still get paid. 

They aren’t feeding families they are making sure the system doesn’t grind to a halt. Last thing we want is banks, landlords and big company directors suffering.😉

[Warlord]

So how much is it all costing them to subsidise half the wages etc. did he lay it out ?

[Warlord]

OK here it is from the BBC:

 

Instead of a minimum requirement of paying 55% of wages for a third of hours, as announced last month at the launch of the Winter Economic Plan, employers will have to pay for a minimum of 20% of usual hours worked, and 5% of hours not worked.

The government will now fund 62% of the wages for hours not worked. This more than doubles the maximum payment to £1,541.75 a month. In the most generous case, the taxpayer will now go from funding 22% of wages to just under half.

-

But typical of the BBC they don't report what this will cost to the taxpayer ... 

[Warlord]

It's expected the total new package of measures - which will start from November and likely last at least six months - will total more than £13billion.

 

There we go... £13 billion quid.

 

[The Preacherman]

 

Edited October 22, 2020 by The Preacherman

[TheCountOfNowhere]

 

Just a thought but isn’t the point of paying the plebs is to ensure mortgages, rents and businesses still get paid. 

They aren’t feeding families they are making sure the system doesn’t grind to a halt. Last thing we want is banks, landlords and big company directors suffering.😉

Correct. 

 

 

[GregBowman]

 

It's expected the total new package of measures - which will start from November and likely last at least six months - will total more than £13billion.

 

There we go... £13 billion quid.

 

Of which half through PAYE, employees Ni and employers Ni plus vat paid on the spend out of net pay will go straight back

Pretty good deal don't you  think ?

[Roman Roady]

Its just cowardice on the part of the Govt IMPO. They are projecting weakness and this will come back to bite them this winter. Dont agree with the latest set of rules? Just protest and hold several press conferences and then wait for them to cave. Money no object.

[TheCountOfNowhere]

 

Of which half through PAYE, employees Ni and employers Ni plus vat paid on the spend out of net pay will go straight back

Pretty good deal don't you  think ?

Another tory con trick

[househunter123]

So all this talk about furlough coming to an end and other gimmicks being pulled out of the hat to kickstart the economy? Whereas HPCers including me hoping for a crash but not going to get one, ever?

 November onwards should give us an idea of what will happen? Or do we need to wait until the stamp duty offer ends in March etc...or do we accept at most 5-10% reduction in house prices , if that? Several months in the pandemic and not much closer to seeing house prices decline on a noticeable scale. Flats don't really count as they're never long term purchases, handy for work if you're based in the city, otherwise is there a link between apartment value and homes with gardens elsehwere?

[Andy T]

 

Of which half through PAYE, employees Ni and employers Ni plus vat paid on the spend out of net pay will go straight back

Pretty good deal don't you  think ?

Indeed, the mk1 JSS had a net cost per head of 1/3 of the amount they would of paid out in job seekers allowance instead!