£500 voucher to spend in restaurants

[Alex50]

Would you go out to dinner, pub shopping if the government paid you to do so?

www.theguardian.com/politics/2020/jul/05/sunak-considers-500-vouchers-for-all-uk-adults-to-spend-in-covid-hit-firms

I think it's really upsetting they'll give all thus net like this, plenty to people who don't need it, but leave people on the streets.

I'm not ignorant of the economic intention, but it doesn't feel ethical to save businesses but not people.

I would be wary of the fine print - look at government nursery vouchers, generous free childcare except the hourly rate the nursery gets can be below cost and actually ends up damaging their viability if they accept them.

What a gigantic waste of money that would be !

This would have tax implications for the future ? I’m not prepared to pay more tax in the long run to fund mediocre restaurants tbh . They’re hardly necessary .

£2,000 would be nice for our family. Doubtful it’ll happen though.

Yes, no question, and I think it's a great idea.

It's breaking my heart to see how quiet coffee shops and cafes are. I'm worried there will be nowhere left when this blows over.

Plus all those independent businesses, all those personal stories and dreams.

I feel that as a nation we need to get back out there, cautiously and following the rules of course.

This whole idea makes me very uneasy. So everyone - wealthy people included - receives ‘free’ money to spend in restaurants in a country that simultaneously has massive inequality, deep poverty and a growing dependence on food banks. Hmmm...

Yup. I’d use it straight away. The children and I would love this and we could support local businesses rather than chains.

Why wouldn't you support local businesses anyway?!

It's a bonkers idea. The country can't bloody afford it. A lot of people have been saving money during the lockdown that they weren't able to spend. Not everyone has ended up skint. People will be gagging to spend their saved money in the next few months.

We would love this! We would definitely go out to eat. We rarely go out to eat as we just can't afford it (pub lunch once every couple of years but have to go home for pudding because it's so expensive - cafe maybe a couple of times a year but only tea and cake). It does break my heart a bit that we can't do this normally and I do feel my kids miss out so this would be a dream come true!

We've not saved money during lockdown sadly, lockdown hasn't been much different to normal life

So everyone - wealthy people included - receives ‘free’ money to spend in restaurants

It’s not like the wealthy get to trouser it. It is specifically ear marked to be ploughed into the local economy.

But rather than being granted direct, people get to decide where it goes, enjoy a treat.

As a stimulus package it’s probably the most sensible way to do it.

There is an enormous amount of surplus stock to shift, consumers need a reason to feel confident to spend, shops need to employ staff, and we need to push more money into the economy.

Literally nothing more sensible that they could do, except UBI.

Which is why I imagine it’s not going to happen

I have to say I’m loving a Tory chancellor being tacitly forced to admit there’s something in the ole redistribution of wealth idea after all. Roll on UBI

I would add that I really think this is a superb idea, and to be honest makes me think for the first time in my life I might vote Tory.

Before you think I've gone off my rocker, just hear me out.

Since the financial crash in 2008, we've been printing money - quantitative easing - in order to stimulate the economy.

It's been funneled to large banks and has largely led to supporting high asset prices, including house prices. It's gone into bottom lines across the globe, and therefore hasn't really stimulated the sort of economic stimulus in terms of new investment that they had hoped. At the moment there is little chance of further quantitative easing stimulating a buoyant economy.

At some point we have to wean the economy off quantitative easing, but no-one knows how really.

We are already in an era of completely unprecedented change and crisis, and the Chancellor has had to borrow such huge amounts from the money markets to support the UK economy, similar to most/all other global economies.

I think it's a stroke of genius to create economic stimulus by putting money into people's pockets to spend on the most challenged industries. These are not bad businesses that need to go through consolidation, or Zombie businesses with toxic amounts of debt. These are viable businesses that have suffered from a "force majeure". We've all been through a miserable 2020, and many people, myself included, are going to be looking for work shortly in whatever is left of this economy. I think it could be a huge happiness boost to give those who can an incentive to get out of their homes once more.

I think that the Chancellor has brought us through this very competently so far, and this looks to have the potential to be a pretty good win-win proposal on a few levels. Could those required to shield or in certain age groups spend it on delivered takeaways?

If I was given 500 I'd save it rather than immediately go and spend it. Unless it was a voucher that could only be used in a restaurant I see higher earners just saving the money tbh.

Also the reason I wouldn't go to a restaurant is because of safety and not money.

Yes Iboogy, that is exactly why the proposal is for money which can be spent only in certain specified businesses in need of support and would expire if not used in a given period of time.

Hell yes!

It’s not free money. It must spent in specific businesses in a specific time period.

I would definitely use them. Probably in a pub garden meal for the family.

I'd use it.

There are several independent restaurants near me that I'd love to go to, but can't justify the expense for right now.

I'd hate them to disappear before my finances improve and I can spend my own money there.

I am eyeing up new flooring and my children seem to have spurted so clothes.

Yes, I would use it. Probably on clothes/shoes for my rapidly growing teenagers and in my local independent grocery stores, coffee shops and restaurants.

It's OK them giving £500 to spend in restaurants, but I haven't got £50 to cover the tip
So spend £450 on food; give £45 tip; £5 to spare. Simple!

I think it is a good idea. I would assume that many people will not be rushing back to spending especially if they are recovering from a reduced income during lockdown. The risk is that people will sit on their money they have until they know how stable their future position is. However, the economy needs money to be flowing through it to function.
It is probably not worth the cost and complexity of means testing. I would like to see the vouchers usable in arts venues too.

It's OK them giving £500 to spend in restaurants, but I haven't got £50 to cover the tip

Obviously I can't speak for all hospitality staff but right now I'm just grateful to have a job still and a means to earn. 20% plus the overtime that's abundant in hospitality at this time of year, and enables me to put a bit aside for flat winter months is a lot to lose when you don't earn a lot to start a with. It's not right now I'm concerned with as I'm back at work and things look promising, it's November, January and February that I'm worried about.
That's where the danger lies for a lot of hospitality that have lost half the season as well as weddings and events that make the money.
These vouchers, if they happen, may help to mitigate against that, as well as on a personal level help people like me through those months with bills.