To ask how this will all be paid for?

[Charlieandthechocolatecake]

The furloughed and self employed will get 80% pay, which is excellent given the alternative.

I'm a keyworker. Working overtime on taxpayers money. Half of my colleagues are self isolating on full pay for a minimum of 12 weeks due to health conditions. I hope the NHS are doing the same.

Where is this money coming from? How will we end up paying it back?

Govt borrowing & taxes. For all those hysterical monetaryists out there, with historically low interest rates govt can borrow very cheaply. Also taxes. It follows JM Keynes economic philosophy, which is that govt should increase spending to preserve economic activity, eventually leading to a quicker recovery & hence a stronger tax base.
I myself approve.

Don't ask that.

You don't want to know the answer.

The country will be in huge debt and we will be paying it back in taxes.

We save lives now and pay more taxes later. Happy to do that to save lives

70s style inflation. On the plus side, like my uncle who bought a house for £1000 in 1969 and paid it off by the mid 1980s, maybe my mortgage will seem like pocket change in 2035.

I agree with @Moanranger

However, I think it will be paid for with years of austerity. A Tory government will tend towards cutting taxes, not increasing them, to get the economy moving again. So there only other option is to cut costs - austerity.

taxes, taxes & more taxes. Don't think the gov had much choice though, better to spend ££££ trying to keep people in work as opposed to £££££££ if there is no work.

I do hope the burden is spread fairly though.

Income tax will go up a few percent, VAT will go up to maybe 25%, they might look at the 12% and 2% NIC and up that too. We will also all probably get crap mortgage deals next time round too

Is there really an appetite for more austerity & starving the NHS after this?

Inevitably higher taxes at some point, but it had to be done, the alternative was unthinkable.

Taxes. All worth it

I’ve been wondering this myself - our Aust govt has also announced a massive Keynesian spending programme along with 80% wage subsidies. Obviously they can’t just sit back and do nothing and watch the country slide into a depression and people starve, but I imagine we will be paying for it for a very long time.

High taxes.. but really who cares at this point, it's just about getting through it. I'm not going to worry about what happens afterwards. It's just too much.

I think its pretty clear that all those nice tax advantages that the self employed and directors of companies are over. The Government is going to change that.

Austerity well there’s nothing left so here’s to inflation! Lots of new tax; it’s the least Conservative government I’ve ever known. And COVID has just ruined the remainder of the term until the next election - they won’t be able to do very much at all, none of those nice promises about the public services... all gone. Just paying a lot more tax to stand still.

Austerity has left us with an NHS that will struggle to deal with this, it’s a busted flush and any more of it would be political suicide. Taxes will go up, particularly for higher earners.

Taxes.

Also, remember it’s only 80% up to £2500 a month gross - £30,000

Yes it’s a decent salary but plenty of self employed earn more than that as do plenty of furloughed staff.

I know several people on (what I think of as) high salaries who have been furloughed and are getting significantly less than normal salary.

I've never been much of a financially minded person, my apologies. As far as I know, austerity means cutting public funding. Am I right? If so, our low paid NHS staff who are risking their lives will lose out? Even after all the talk of boosting their pay after this?

Our school teachers that didn't sign up for this and are taking care of keyworkers kids will have their raises reduced?

How is that fair?

Please tell me I'm wrong?

Weren't banks given our money a few years ago to bail them out?

How is Richard Branson and the like able to secure our money?

I don't get it. At all. Is there anywhere I can understand this in layman's terms?

I was thinking they may ring fence the NHS and cut in other areas. I agree that there is not now / won’t be in the near future any appetite for cutting the NHS.

Taxes. All worth it

Also this 100%

Our school teachers that didn't sign up for this and are taking care of keyworkers kids will have their raises reduced?

You are forgetting the teaching assistants who also are and who rarely get raises

I hope it will be inflation but know i wont get that lucky. realistically i expect to be paying 50% tax possibly 60% or higher on everything over 100k

Private sector (media) are cutting salaries by 10%-20% already

@ffswhatsnext I'm not forgetting them at all. I was generalising. My apologies. Same for our supermarket workers, delivery drivers, volunteers etc. These people are risking their lives every day. It doesn't seem right that they should have to bear the burden of future tax rises when life (hopefully) returns to normal.

The reality is that most employers cannot afford to pay salaries if money isn’t coming it. It’s just a fact.

The schemes need to be easy to access/near universal or bureaucracy will mean those that need it can’t benefit.

If the government didn’t do it we’d have a higher death rate (people working when they shouldnt) loads of businesses going bust. Wholesale redundancies would happen and you would have repossessions, increases homelessness and mass unemployment.

The fact a Tory government have implemented these things shows you how desperate the situation is.

I don't think anyone has mentioned China.

The kept this hidden for quite some time from the rest of the world and I don't think the numbers they have released are anyway near the real amounts. Plus they were aware of this virus in 2018 as per a public paper that has been circulated.

So IMO they should be made to pay.

Plus they were aware of this virus in 2018 as per a public paper that has been circulated.

Do you have a link to this paper?