Rishi Sunak no more bailouts

[Elpresidente29]

He said government cannot go on like this...

Well what do they suggest then ?
I'm pissed off really that this is in the news today , yes I know the furloughed scheme won't be forever but to mention this but no idea of if and when lockdown will end is unfair .
Yes people are worried about the virus but they are also worried about paying the bills .
I know many are saving money during this lockdown but a lot of people just about manage so to say the furloughed scheme is to be scaled down with no mention of lockdown ending is unreasonable. They should have said this after the lockdown details . It's just another thing to worry about in a already stressful situation.
They need to tell us now how they plan to get us all back to work to give businesses time to scale workers back in .

The financial implications of all of said employer's employees suddenly being out of work are greater than the cost of furlough.

Exactly. Who do people think have to meet the costs of redundancy and notice pay if employers fold and can’t pay it? The government have to pay. They pay either way. My husband’s entitlements would be equivalent to several months worth of furlough.

"I think young people must be furious"

They don't seem to be, particularly. Interestingly, a proportion of those arguing to lift restrictions on economic grounds seem to be older, and therefore more at risk from corona personally, which might be contrary to what you would expect. I wondered whether this was partly because they are in a better position to remember more clearly early/mid1980s high unemployment and its lasting consequences for some. Just musing - I realise many on mn will disagree!

acorns yes, I was wondering that too.

Perhaps too young to remember the sinking feeling when you look at your payslip and the govt have taken more AGAIN.

What’s more, I think we have the second and third waves yet to come. Second waves are usually worse but depending upon the timings, the third wave could coincide with our flu season.

@BuildTheBobber and his company were exactly the ones furlough was created for, they had been instructed to close and had no choice. Not for people who can work from home but are struggling with childcare, businesses who could have remained open, or those who have millions in the bank that they could well have paid staff with. Unfortunately it's businesses like his that will suffer as it's unlikely to be extended.

The government were stupid enough to institute a draconian lockdown so to some extent they had to compensate people. or we haven't locked down hard enough... I wanna hug my partner.... I wanna holiday...

DHs company furloughed all but factory staff. They finished their contract and are now furloughed. DH has gone back to work, as has the rest of his department. They will rotate who is on furlough as and when needed, in the 3 week blocks allowed.

That is the ONLY way his company could survive. With it they can wait until individual parts of their customer base re-opens. Without it they would just have had to close, making everyone redundant.

That's a large benefit bill saved and a lot of peole who will continue topay their taxes... one small company amongst a lot of small companies all servicing national and multi national organisations - keeping your lines of communication open! There will be many other sectors that are similar, not food or health based but essential nonetheless.

Its unfortunately being seen in some circles as a left right thing, which I don't think helps anyone, but obviously the older a person is the more likely they are to be right wing. That might be part of it fromlittleacorns. The UK paper running the most pro end lockdown articles has probably been the Telegraph.

@BovaryX

Would love to know why you think public sectors workers are a drain.

Me and DH have been working and paying tax throughout this and our saleries and pensions are extremely average.

I’m not naive enough to think that we aren’t at risk of redundancy/pay cuts or anything but some people are downright spiteful about public sector workers and their perceived ‘cushy’ lives.

They need to tell us now how they plan to get us all back to work to give businesses time to scale workers back in I think they expect most individual organisations to be making those decisions for themselves, as they best know how they may be able to do so safely!

God, *salaries.

I hope he will pay people to work not to do nothing.

I think the media is partly to blame for whipping up peoples anxiety levels about the dangers of leaving the house, death numbers etc. People stopped wanting to go outside and wanting to deal with people in person etc and so shops/buisnesses which didn't really need to shut their doors ended up having no other option because customers became to scared to go into the building/attend appointments (not everything can be done via zoom!). This wasn't the governments intention.

I think with a gradual easing of restrictions many of these businesses will be able to operate again however I hope for those that can't (think places like theme parks) the government will continue to offer support until a time that they can reopen - which I can't see happening whilst the social distancing rules are in place.

I know some employers are not using the furlough scheme as intended. I work for a med-large employer, the majority of roles are classed as essential and the company is still very much functioning but they have furloughed 25% of head office staff as it's an easy £2500 per month cost saving.

These are roles like admin, PA, training which they will still need in the future but can do without on a short term basis to save money.

Not sure this is what the furlough scheme was meant for, and they can't be the only employers doing this. I think it should only have ever been for state mandated closed businesses (eg non food retail, restaurants) for as long as they are mandated to close.

I think the government has been caught out by how many employers don't really need to furlough staff, but are happy to jump on a free bung from the gov.

But prematurely ending the scheme will undo the good work that has been done so far. You think we'll carry on sticking to the rules if our government yanks the rug out from under us financially?

Why are second home owners getting money? I've not read this at all , but why would they need it?? Seems unfair.

The furlough scheme can't carry on it's true , but schools need to go back for many to work : wfh with children isn't working and some employers are being pricks and not realising how hard that is and people will lose their jobs through no fault of their own!

Are there no criteria at all?? You just say I need furlough and get the cash? Can’t the just introduce some sort of checks to monitor?

They should wind it down for most but need to have something in place for shielded people as they have been forced out of work apart from those that can wfh

I think young people must be furious

Their future ruined to save a majority 80+, some 60+

We used to say freely on the Elderly Parents board that people live too long now - but covid 19 has put the kibosh on anyone saying that.

I think that is one of the most disgusting things I've ever read on MN.

but some people are downright spiteful about public sector workers and their perceived ‘cushy’ lives.

I agree. I don't work in the public sector anymore as we relocated, but people work at well below market value for their skills and experience, which is somewhat offset by the 'perks' (but not really). Unfortunately people latch on to those perks, which are pretty crap now anyway, without realising that they keep the country ticking over. There are usually entry level vacancies about, so I always wonder why those moaning don't bother applying so they can also enjoy deteriorating conditions, zero public support, no pay rises, and increasing workloads with decreasing staff amongst other delights.

Of course they cannot keep borrowing to pay. Otherwise everyone’s tax will be 50% and there will be no money for the sacred NHS

And he’s quite right. The level of support give by the government has been unprecedented.

I think young people must be furious
Their future ruined to save a majority 80+, some 60+

Actually I think LilacTree has a point here - and FWIW I'm also over 60. It's not about "euthanasing the lot of them" but about balance, and I agree that expectations around natural lifespan have got a bit out of kilter
I wouldn't expect the headline pension rate to be cut but the triple lock will almost certainly go, along with winter fuel payments, free bus passes and much more

Oh, and reaching for that "balance" again, I swear I'll scream if one more mum says they want their maternity leave extended because CV has spoiled it ... it's not just seniors who sometimes do themselves no favours

And the companies they all owed that money too... they would also be devastated by the suden and irretrievable economic loss. And their creditors.. and their creditors...

An economic choice made by the UK government since the 80's more and more consumer debt and no resilience in the system, had we kept or switched back to a keynesian model after 2008 instead of going the route of austerity we would be in a much stronger postion but those rich people need their tax cuts and profit

Are there no criteria at all?? You just say I need furlough and get the cash? There are, they are, of necessity, pretty lose, but do require quite a bit of preparation, past PAYE registrations etc

www.gov.uk/guidance/claim-for-wage-costs-through-the-coronavirus-job-retention-scheme