Rishi Sunak no more bailouts

[Elpresidente29]

He said government cannot go on like this...

What's your AIBU?

This may be why. From the Telegraph:

More than half of Britain’s adult population is now being bankrolled by the state amid warnings from the Chancellor that the furlough scheme could soon cost as much as the NHS. Analysis of official figures shows that 27 million people are now being funded by the Government amid growing concern over the devastating toll to the economy wrought by the coronavirus pandemic

Is there an AIBU? It seems like common sense to me. The other side of the COVID response: Health and economics.

I suppose that was inevitable really, but unless people are going to be able to go back to work there will have to be some form of government assistance. It’s such a worrying time for those who are furloughed, I wish we had more clarity about what the next stages are going to be.

So open up schools and let us go back to work. FFS

So i guess a lot of people are losing their jobs in July?

Less inflammatory version -

However, in a television interview, Chancellor Rishi Sunak sounded a cautionary note, saying that level of expenditure was "not sustainable".
"I am working as we speak to figure out the most effective way to wind down the scheme and ease people back into work in a measured way," he said.

So open up schools and let us go back to work. FFS You think they don't want to?

They still have to balance ecomonics and health - FFS!

www.telegraph.co.uk/business/2020/05/04/half-adults-now-paid-state/

Lots of money is going to people who don't need it, such as £10k grants are being given to second home owners/holiday homes. So basically the rich are being given free money and working taxpayers are going to be paying more for all this. It's gone too far and the virus is being used as an excuse to change society, not just economically so we are all dependent on the state but to bring in lots of dystopian rules and technologies. No thanks!

Reduce the furlough payments to uc credit levels ?

Of course the state can't keep paying indefinitely. I've been amazed (but very grateful) at the level of support put in place. Disappointed at some businesses that have taken it up when they could have managed for a while though.

With hindsight, I wonder if support was offered too quickly? If there'd been a delay, maybe some businesses would have found a way to manage themselves.

Obviously the government can’t continue to pay the Millions of people’s wages that they are paying however they would have to lift lock down.

For as long as they keep lockdown and keep businesses closed the longer they need to offer government assistance financially or businesses will have to open.

Inevitably, due to the government's chronic mismanagement of the comms around this issue, we are going to end up in a situation where anyone furloughed or bailed out is in danger of being vilified. Any bailouts or measures have already been criticised by bitter members of the public who just wish their savings pots, their rental properties, their "nest eggs" (property value) all remain exactly as they are no matter what happens in the world, acts of God, viruses, etc.

What was the Chancellor meant to do initially? Send businesses to the wall in a mass crash that would have made 2008 look like a bit of a ripple?

I agree that any further measures need to be carefully considered. There needs to be a clearly communicated exit plan and Sunday could be it.

However the usual cries of "we have to go back to woooorrk" are just..ugh. Yep, work is important. Yes, people are suffering economically. But I don't think anyone is doing this health management situation for a jolly. It's a crisis - things we accept as normal cease to be so.

What £10k grants are you talking about please @ planetofthecats ? Never heard of this.

How are people meant to survive if the furlough scheme ends and they can’t work?

@Mistystar99 the chinese data shows that even if you open up, the demand is still not there. people are either too scared to go out or want to save the money for a rainy day. So a lot of people are going to lose their jobs and without the furlough scheme, would depend on UC. A lot of people are going to lose their homes.

Lots of people are still working in mw jobs to pay taxes so some people can sit at home getting 80% of their wage ? That’s wrong on so many levels .

@NewIdeasToday probably talking about the small business grants. Government also offering low interest loans. But if there is no demand, the businesses would still shut. And small businesses employ a huge percentage of the british population.

It has been odd IMO that there were no checks or means testing on the "benefits" handed out.

DS is furloughed from his part time job. He doesn't need the cash, he was quite literally working for pocket money, so were many of his colleagues. As well as some supporting families on minimum wage of course.

@Purpletigers doing that Is unfair to the people who want to work but the government have forced closures eg hospitality trade. I have a job , I’ve worked for 15 years. I’ve worked all these years but it’s the government who are forcing closures.

Can you imagine the amount of new UC claims . High unemployment rates kill the economy too,

If they open up the schools in a manner consistent with the other countries that have opened schools (capped class sizes of 10), it’s not going to help anyone go back to work.

It has been odd IMO that there were no checks or means testing on the "benefits" handed out. Initially they chose to make sure that businesses and individuals would not be out of money iimmediately. The cost of furlough was, in the short term, less than that of an economic collapse. So initially they chose not to waste money and time on means testing.

Now they are having to look ot medium and long term solutions... so things will have to change, adapt and change again!

What £10k grants are you talking about please @ planetofthecats ? Never heard of this

The grants are going to small businesses to pay their staff.

If they open up the schools in a manner consistent with the other countries that have opened schools (capped class sizes of 10), it’s not going to help anyone go back to work.

It’s a start.

My workplace is looking at bringing people in a day a week to begin with. This will help us get started on stuff that we can’t do remotely.

@GinDaddyRedux it does not bode well for anyone's property value or the economy if 25% of the population are unemployed. Those people used to pay taxes and now they are not going to for a long time, if they dont have jobs to go back to. If a lot of small businesses fold, they wouldn't pay taxes anymore and we can't just magic up new businesses to take their place. I don't get why people still don't understand this.