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Corona budget. Where is this money coming from??

10 replies

Helenj1977 · 11/03/2020 12:50

Just that really. That's a lot of money.

I think it's brilliant that they're helping everyone but this amount of money is crazy.

OP posts:
BumbleNova · 11/03/2020 12:52

Borrowing. UK long term bonds have a yield 0.3 percent. That's incredibly low.

Helenj1977 · 11/03/2020 12:54

Thank you 😀 Small business's and self employed people can relax a bit now x

OP posts:
GameofPhones · 11/03/2020 12:59

Borrowing.

Mlou32 · 11/03/2020 13:53

I don't know for sure but I would assume that most countries, developed ones at least, have some kind of emergency contingency fund tucked away to deal with things like pandemics, wars etc.

BigChocFrenzy · 11/03/2020 14:09

We know it's a crisis when a Tory govt suddenly spends an extra £30bn
Better to spend that now than spend / lose £100 bns later on though

BBC News (UK))@BBCNews

£7bn to support self-employed, businesses and vulnerable people
and £5bn emergency response fund for NHS and other public services

In total, £30bn fiscal stimulus to support UK through coronavirus,
says Chancellor Rishi Sunak

bbc.in/2IDEZbm

MrsTerryPratchett · 11/03/2020 14:12

"As of Q1 (the first quarter of) 2018, UK debt amounted to £1.78 trillion, or 86.58% of total GDP, at which time the annual cost of servicing (paying the interest) the public debt amounted to around £48 billion (which is roughly 4% of GDP or 8% of UK government tax income)."

There is contingency fund. The UK is in crippling debt, this will make it worse and Brexit is yet to bite.

MrsTerryPratchett · 11/03/2020 14:12

No contingency fund. Hmm

Jerseygaly · 11/03/2020 14:13

Pension saving and care homes and maybe nhs with no asthmatic high bp or diabetics

StatisticallyChallenged · 11/03/2020 14:30

Tbh while it helps small businesses a lot of the bigger measures depend on loans - short term fix but long term problem and it remains to be seen whether they will be accessible

Kmx123 · 11/03/2020 22:56

Lol there printing it

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