Saturday, Aug 08, 2020

Overpaid to travel to work to London!

BBC: Londons commuter towns see sharp rise in benefit claims

Overpaid to travel to London for a house to you need to pay for 25 years. Now when the income stops you are stuck

Posted by deepak @ 11:56 AM (1658 views)
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4 Comments

1. britishblue said...

For years, many people reading this forum have been waiting for a black swan. We thought we saw them in 2008 in the financial crisis, only to see quantitative easing used like confetti. We are now seeing the largest drop in GDP for over 100 years and record debt. I spoke to a senior person in the NHS and they are expecting a larger second wave. But they now have all the nightingale hospitals, they now have all the PPE, they now have all the ventilators and if we get a second wave, it will no longer be a political disaster, because the government have urged people to social distance. But what is different this time, is that when there have been depressions before there has then been an uptick and there hasn't been a fundamental change to the way people work. We are looking at a future where 50% of offices will never be filled, with ramifications for city centre restaurants, shops, flats, taxi's, etc, etc. We are looking at a situation, where being closer to the office is no longer perceived as an advantage. We are looking at a situation where a commute by train packed like sardines, will never be the same. If these aren't looimng black swans, i don't know what they are.

Sunday, August 9, 2020 09:17AM Report Comment
 

2. tenyearstogetmymoneyback said...

I think it will change many peoples view on what they want in a property.

https://www.bbc.co.uk/news/business-53670199

Monday, August 10, 2020 07:08AM Report Comment
 

3. stillthinking said...

Events quickening up !
The government could not be clearer in that there is little in the way of intervention they won't try.

Monday, August 10, 2020 12:41PM Report Comment
 

4. mombers said...

It'll be interesting to see how many people move off UC. Even at the punitively high 63% taper rate, people will have to earn a lot to come out of it entirely. Thank goodness is based on after tax earnings (else it would be 85% for ~£9.5k and 95% for £12.5k for basic rate NI and income tax respectively). But it does mean that millions of people will be trapped in a marginal tax rate that bears no resemblance to the headline 20/40/45 rates. Universal Basic Income anyone?

Tuesday, August 11, 2020 08:40AM Report Comment
 

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