Can someone please explain the 80 per cent salary cover

[noFlowers]

Sorry if I'm being stupid but what does this mean!

Does it mean businesses who may lay off staff get 80% of staff salaries to pay them so they can still work.

Or does it mean you lost your job due to all this and you're at home and you get 80% of your salary.

lyra's quote is the one to read. Companies decide if they want to use it. If you would rather scak all hotel staff tomorrow they can instead. It is their choice. If they have already persuaded staff to leave or take a pay cut or no pay for 2 months the employer might not bother with the scheme and just start hiring again when business picks up.

Employers who are unaffected by the virus even with staff working from home will not be interested in it either. It cannot benefit anyone who is not on PAYE either.

if a company is close to the edge it may not have time to wait to apply for this money and choose to lay off staff instead.

Is that up to 2500 per person?

As an employer whilst we can afford it we will make up the 20%, we are already stockpiling cash to cover employees salaries and small business suppliers.
Larger suppliers that can afford it we are negotiating extended credit terms.
Local council have been told we won't be paying business rates and HMRC "time to pay" has been instigated.
We'll be okay, we're planning for this, but I'm worried about the small businesses that don't have accountants and have never had to worry about cashflow.

The right wing argument for UBI

areomagazine.com/2018/08/02/a-conservative-case-for-universal-basic-income/

My employer is making it up to the 100%. We'll get paid on the last 3 months average of what we've worked.
I was doubtful and dreading the update this evening. Thankfully, I'll be able to sleep a little easier tonight

You are right, I am not an economist. I'm not stupid though, and I have read widely enough to know that UBI has supporters on every corner of the political compass. It's a very difficult idea for most people get their head around (hence dismissing the concept as socialist when it isn't).

You reading op-eds doesn't mean you have an understanding of economics and doesn't negate my point that no economist with any real world backing is promoting it in this scenario when most economists agree this situation could screw over a generation economically speaking.

It's a very difficult idea for most people get their head around

It really is, hence why no one with even a basic grasp of economics and the wider implications of UBI are not promoting it during a world wide pandemic.

As self employed people we will get the government grant of 10,000.

@motortroll is this available to all self employed or just those who had employees? I am a sole trader.

YABU

I’m neither for nor against UBI I haven’t looked into it but with a quick google.

Coronavirus

Universal Basic Income is an affordable and feasible response to coronavirus
A cash payment made to everyone, with no strings attached, can support workers through the crisis

Many experts now believe that some kind of universal basic income would be the simplest way to help those working for the hospitality, travel and other industries hit by the coronavirus

March 18, 2020 12:01 pm by Daniel Susskind
This article is part of an FT series on the economic cures for the coronavirus crisis, in which leading commentators and policymakers give their advice on how to alleviate a devastating global slowdown.

The writer is a fellow in economics at Balliol College, Oxford university, and the author of ‘A World Without Work’

Thank you lyralalala

Not gonna argue with you, I'm absolutely not an expert as you point out.

I hope to fuck the experts have got something lined up.

The right wing argument for UBI

You need to expand your reading from op-eds, if you think that is some kind of gotcha and real world right wing argument for UBI then even getting onto twitter will give you a step up in your basic knowledge.

sorry that was for @justanotherlurker

So all the bars, pubs and cafes pay their staff 80% if they are unemployed but they are at home? So holiday pay really.

I mean if they employed! Rather than casual staff

is this available to all self employed or just those who had employees? I am a sole trader.

It's linked to business rates as I understand it so you have to have premises (my autocorrect tried to write penis there, good job I noticed!)

@marshabradyo

Shh now, we're not allowed to have a view because we've only read "op-eds"

You are right, I am not an economist. I'm not stupid though, and I have read widely enough to know that UBI has supporters on every corner of the political compass. It's a very difficult idea for most people get their head around (hence dismissing the concept as socialist when it isn't)

There's a right of centre pro UBI cohort too.

Where are people seeing that this 80% thing will apply to those redundant now if they were still working for their employer on 28th Feb?

LittleFox I don’t know what an op-ed is so maybe I’m ok ;

The main issue with it is that you only get the money if your employer chooses to claim it.

If they decide they would rather go bust then you cannot claim it yourself....

I'd like to know if it covers unpaid leave for childcare too.

It's a grant, not a loan - no paying back required.

Employers won't be able to call you in, make you work for 80% pay and pocket the profit. If you're in work you get 100% pay, even though we all know employers who will try it on.

You'll get 80% pay for not turning up. It's a good deal.

I was laid off today (travel industry), contract terminated. Doesn’t the 80% only apply if they keep your job “open”. Only those of us with under 2 years service were affected.

I don't believe it covers unpaid leave for childcare. It's for people who are laid off. By paying the 80%, govt avoids huge UC claims and payments which it isn't equipped to cope with, plus business have their staff ready and waiting when they are ready to roll again. It's like enforced holiday pay on 80%

Tbh they don’t have to keep anyone. It just helps if they want to and have low trade.