Meet the Other Phone. Child-safe in minutes.

Meet the Other Phone.
Child-safe in minutes.

Buy now

Please or to access all these features

AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

To think that financially, Covid hasn't changed much for many people.

299 replies

blueblueblue101 · 21/08/2020 10:23

I keep hearing that we are in a recession that will be the longest and deepest in history. Yet when I look around, no one seems to be financially hit. Plenty of people going out for their meal out to help out. People still able to afford holidays. No one around me has been made redundant and no one I know seems to be remotely concerned about what the future holds in regards to finances Meanwhile, I am eaten up with worry that we'll lose our jobs our home etc.

OP posts:
daisypond · 22/08/2020 16:33

@luckylavender
Did you actually read the OP’s post? She is not smug or lucky.

SantaClaritaDiet · 22/08/2020 16:38

luckylavender
only on MN can someone sick with worry be described as "smug" Hmm

That race to the bottom is something else.

luckylavender · 22/08/2020 16:46

@blueblueblue101 & those who pointed out my mistake. I made an assumption & didn't read to the end. I hope everything works out for you.

MaybeMaybeNotJ · 22/08/2020 17:49

Yeah you’re wrong.

MaybeMaybeNotJ · 22/08/2020 17:53

Sorry that should be yeah you’re not wrong.
I’ve been made redundant and had to take a huge pay cut in another job and some of my friends are just living their normal lives and buying whatever they wish.

It’s double sided here. A lot have lost jobs and a lot have just worked from home throughout.

Market2Barga1n · 22/08/2020 20:08

Last year I worked lots of overtime

This year, zero overtime (am aware that this is a bonus & not the norm)
Work place has been closed, so have been WFH
Employer has provided a small incentive for WFH. Due to return into the workplace soon.
Several of my friends & wider team have been on furlough or made redundant

Some of my hobbies have been impacted, but I have broadened some other interests

I am grateful to still have a job

I believe that this recession will continue for some time

We are fortunate to have "free" health care & a benefit system. Not every country has this in place.

TazMac · 22/08/2020 20:24

@W33k3nd394

Just because that is how the system works doesn’t mean it is correct. A lot of people are about to find out that no matter how much they’ve paid in, they’ll be entitled to very little back, if anything at all. If you think that’s going to make everyone suddenly very left wing and support a Corbynist style government, then I think you are mistaken. I think it will do the opposite. Many Net contributors ( those earning circa 30k and above) will likely vote for lower taxes and dismantling of the benefit system (some might think there is no point in if they didn’t get anything when they needed it).

The reason there is wider support for a welfare state in countries like Germany and Scandinavia is because people who have contributed are eligible for support, when they need it. They have a contributory benefits system in those famously right wing countries. We have a means tested benefits system, so we have just over half the population contributing to support the other (just under) half but those who contribute are eligible for nothing, or a small amount.

We did have a contributory system from after WW2 until 1979, when it became means tested. The architects of the post war welfare state understood the principal that in order for there to be wide spread support for a welfare state then everyone must contribute and everyone must be eligible for support.

Support for the welfare state has decreased since 1979 as means testing has continuously alienated those who are capable of contributing and encouraged them to vote in governments who don’t want a welfare state at all and act to dismantle it.

I personally think we should try and emulate countries like Germany and Scandinavia, which would mean higher taxes (doesn’t necessarily have to all be a raise in income tax as we could look at a land tax for properties over a certain amount or a luxury car tax, for example). Germany and Scandinavia do pay out a higher amount to those who have contributed, for a time limited period, both because it is fair to do so but also because sometimes people are redundant as their skills are becoming obsolete and paying those people enough to cover their bills allows them to time to retrain and re-enter the workforce, becoming contributors again.

The other thing to consider is that those who contribute quite often only need short term support (due to redundancy during a recession or pandemic) as they tend to have built up the qualifications and experience to rejoin the workforce more quickly. In other words, they have no barriers to work, other than a recession / pandemic which are usually short term blips.

There will always be a section of society that requires long term state support but in order to provide this then we need the buy in from those that contribute. In my opinion, the way to get this buy in is to emulate countries like Germany and Scandinavia, if it works there, why can’t it work here? However the answer is to engage those who have worked, paid taxes and saved, not alienate them.

Some might say it’s all by design though. Alienating those that are capable of contributing and encouraging them to vote for parties who will set up individual (personal unemployment and private health, for example) insurance, rather than the collective ones we have had since the 1940s. Think about it, no free at the point of service healthcare, do you think someone on minimum wage can afford to pay for private healthcare because they are suddenly paying less tax? Answer - no because they weren’t paying much tax in the first place.

It could go either way to be fair, perhaps we could end up with a more egalitarian society after all this. I don’t think it will, I think the seeds have been sown (over many years) for us to become, at best like the USA - much more limited state provision than we have now. It could potentially become worse than that, look at the anti immigrant rhetoric and think about how the 1930s ended up.

Hadjab · 22/08/2020 20:27

I’m being made redundant, so it’s definitely made a difference to me.

ajs88 · 22/08/2020 20:32

Both myself and my OH work in directly affected industries and were put on furlough which was a 50% pay reduction for myself due to the cap, and 20% for himself. He was made redundant, and I was put up for redundancy once the employer contribution kicked in.

Thankfully I was offered a transfer to another country instead and have been kept on furlough pending this. But I will have to pay most of the re-location costs myself (which I would be covered in non-Covid times) and he will not be able to work for the first 4-5 months while his work permit is sorted.

If I hadn't of been offered this we would both be unemployed, and neither of us would be entitled to redundancy pay, JSA or UC due to having savings and having moved back to the UK just last year.

So we are losing a hell of a lot of money, but we are very lucky!

PhilCornwall1 · 22/08/2020 20:35

So we are losing a hell of a lot of money, but we are very lucky!

And yours is a situation where luck is very much a good thing!! Hope it all works out.

ajs88 · 22/08/2020 20:37

@blueblueblue101 Sending hugs and wishes to you Flowers

It is very tough when you feel like you are going through it alone. I think your friends are being very naive or they are worrying just like you but in private. Everyone I know is concerned.

But on the other hand taking a what will be will be attitude can help you through it. It certainly did for me, even though I could have been sick with worry during lockdown and furlough as I rightly knew we were likely to lose our jobs, I tried to push what I couldn't control to the back of my mind and make the most of it. I wasn't spending frivolously mind.

tensmum1964 · 23/08/2020 17:16

@TryAnotherNickname

I wouldn’t say you were unreasonable but I’d say you were at best naive / wilfully uninformed and at worst plain stupidly goady. Perhaps you really don’t understand how the 200,000 job losses so far are the very top of the iceberg and that a huge number of the 9m currently furloughed will never go back to their previous jobs as they won’t exist. Do you understand what mass unemployment does for the businesses that are currently unaffected and the jobs that are currently open?
This.
cologne4711 · 23/08/2020 17:31

Nobody on the first three pages of this thread appears to have read the OP's final comment:

no one I know seems to be remotely concerned about what the future holds in regards to finances Meanwhile, I am eaten up with worry that we'll lose our jobs our home etc

I know some employers have no option but to make people redundant. But I wonder how many could soften the blow by putting everyone onto 4 day weeks. 80% of salary is better than 0%.

EBearhug · 23/08/2020 17:40

I wonder how many could soften the blow by putting everyone onto 4 day weeks.

A lot of my Dutch colleagues do 4 day weeks, and initially, this came in because 5 people working one day less a week is the same as losing one whole person completely.

CountFosco · 23/08/2020 17:46

Putting people onto 4 day weeks doesn't reduce all the costs associated with employing someone so it's cheaper to sack someone. However I think some companies did do that in 2008 after the last recession, it works well with highly experienced and highly paid individuals.

EBearhug · 23/08/2020 17:55

It can be cheaper to sack people, but redundancy costs may not be cheap either, particularly if you offer more than statutory, which my current employer has done in the past.

CloudsCanLookLikeSheep · 23/08/2020 20:21

@EBearhug

I wonder how many could soften the blow by putting everyone onto 4 day weeks.

A lot of my Dutch colleagues do 4 day weeks, and initially, this came in because 5 people working one day less a week is the same as losing one whole person completely.

I work in HR and we would usually consider this kind of arrangement, but in a situation where only 4 people out of 5 are needed, if the choice is between having a 4/5 chance of keeping full time hours, or everyone going down to part time hours most people would choose the former and take their chances with selection. We'd put it to a majority vote in consultation where it was practical to do so.
InsaneInTheViralMembrane · 23/08/2020 20:24

You’re a fucking tool OP. I’m a single mum who had their kids home 5 months and in that time I earned less than £500.

So be a love and fuck off.

Porcupineinwaiting · 23/08/2020 20:27

@InsaneInTheViralMembrane maybe you should read all the OPs posts before blowing your stack. Or at least the second one.

Ethelfleda · 23/08/2020 20:28

@InsaneInTheViralMembrane

You’re a fucking tool OP. I’m a single mum who had their kids home 5 months and in that time I earned less than £500.

So be a love and fuck off.

I think you’re the tool here... RTFT!!!
InsaneInTheViralMembrane · 23/08/2020 20:31

My sincerest apologies to the OP - I stand corrected.

Please DO apply my comments to yourself if you’re a smunt.

MJMG2015 · 23/08/2020 20:51

@Nosuchluck

We’re about £1000 a month better off as have no commuting costs, work lunches out etc plus have saved about 14k from cancelled holidays. However pension pots are down about 150k.
Are you completely tone deaf?

Seriously

MJMG2015 · 23/08/2020 22:09

@ballsdeep

I hate it when people post like this. I think it's scare mongering to the highest degree. Lots of people on here will be working for big companies

That's ok, people aren't posting to please YOU 🤷🏻‍♀️

ballsdeep · 23/08/2020 22:12

[quote MJMG2015]@ballsdeep

I hate it when people post like this. I think it's scare mongering to the highest degree. Lots of people on here will be working for big companies

That's ok, people aren't posting to please YOU 🤷🏻‍♀️[/quote]
When did I say they were?!?!

New posts on this thread. Refresh page
Swipe left for the next trending thread