This will bankrupt more than it kills

[Starbuck8419]

The odds are not looking good for many businesses within the Uk because as of this moment, closing is only an advisory so insurance firms won’t pay out.
Well done Bojo.

I do think that maybe one or two people will find it strange they can't access help straight away and have to listen to the awful music on the phone for hours whilst trying to get some money together.
I don't want this for anyone at all. I don't want people to die. I don't want people to lose their businesses or their jobs I want this to go away and stay away , but I do think that a few folk might have a wake up call here and realise that not everyone on benefits are scrounging or just want ' an easy life'
It might focus a few minds.
I hope the government can change so many things to make life better while the county recovers. I live in hope.
I repeat I don't wish this virus on anyone and I'm worried about things as we all are. I just hope nobody loses their home.
The government must make sure this doesn't happen.

It's LOANS he's offering, mainly.

When all of this is over i wonder how quickly people will forget how they had to hunt from shop to shop for basic items or how petrified they were of being made homeless because they couldnt pay the rent,or will we just go back to wasting food, buying piles of imported tat from China that we dont need or hankering after the latest "must have" It will interesting to see if we have learnt anything

I guess we should just let businesses fold, many people be made redundant, thrown out of their homes then and give up. The country can really handle that given the surplus of housing and thousands of jobs so it would be fine. Alternatively, like other counties are doing we could put financial support in place to keep them ticking over and ensure the economy doesn't tank. Austerity shared across the country rather than those who own or work for businesses at risk seems fairer to me.

@TwentyViginti loans which might just keep them afloat.

I agree. My world has been turned upside down (aviation industry) and I don’t know whether I will be laid off for months or forever yet. I’m scared. We can manage two or three months, but not much more. And a lot of other places that could have provided short term employment (bars, cafes, shops, hotels etc) are all going to be locking down/struggling too. The virus doesn’t worry me half as much (obviously more concerned about my elderly parents).

Loans, so people wind up in debt they can't pay back. Why is that not surprising? After all the 'advance' on UC is just that, a loan, that is then clawed back at a huge rate every month (only now IIRC has that changed and they're able to take longer to pay it back so they're not utterly brassic every month).

Insurance companies could not possibly pay out to cover every claim - they simply wouldn't have anything like enough money.

I would be interested to see if Insurance companies include a risk of this event happening again, and if so how much premiums would be if cover is to include loss claims under these extraordinary circumstances......

I'm very worried about this tbh! My job is fine (healthcare) but I'm on maternity atm and have already been asked if I'll go back to help staffing issues. My dh is self employed and we have already lost his main wage today and other bits he does as one offs (£1000s of pounds of work in the upcoming months). We have zero savings as we have used it on my maternity and the upcoming money was going to be used to pay off a credit card we have atm. I'm very fortunate to have family who have offered us financial assistance but I'm terrified where we will end up.

Does anyone know any more detail in regards to the mortgage breaks etc? I'm thinking we will have to apply for universal credit after this month. ☹️

Im afraid a lot of people are going to end up homeless. The consequences of that are going to be dire both personally, societally and educationally.

What do you want Boris to do? If you want to be pissed off consider how this all started. After SARS all governments should have held China to account and demanded they stop bush meat.
All western govs. Could have done more to put pressure on the Chinese government, to change their ways, look how we place sanctions on many other countries, but instead everyone got complacent. Yes it's utterly shit, but this is new for all of us, yes financially we're stuffed, but if we have our health we can earn our wealth. This will hurt everyone on a huge global scale. Moreover if the Chinese government had listened to their own doctors telling them this was serious, they could have stopped massively help reduce the spread. I feel desperately sorry for the Chinese people having such a contemptible government.

I'm not a Boris fan by the way, but I think all governments, on a huge global scale are feeling their way on this, just be glad we're in a wealthy economy and not in countries which will be ripped apart by this bloody awful disease.
Sorry OP I'm not having a dig, but for developing countries this could be so, so much worse. And as a country we will get back in our feet again. I say that as someone who stands to lose loved ones and possessions (house/ car etc) but possessions can be replaced loved ones can't.

Imagine the carnage this is going to be in refugee camps around the world
Totally world changing.

I'm wondering where all the money that has been promised will come from? Tax incomes will come down and benefits will rise (as a whole) . I'm sure the savings that will come from the elderly and at risk groups dying off but they won't cover the gap. Are we going to make sure that large companies pay the full tax they should pay?.

My friend works for a retail company who do not allow them to sit down for a tea break and didn't even offer them an ice cream from the tea bar they run in the last heatwave, yet they moan on whilst driving fast cars and have three holidays a year.
Maybe they will now allow their staff a proper tea break from now on? These employers do not care about their staff. I'd love to think this crisis might change their attitude. I'm not holding my breath! I'm not suggesting all employers are like this , but many are and greed is the driver.

but if we have our health we can earn our wealth

This is very simplistic and largely bollocks.

The strain of those in major financial crisis could well kill as many people as the virus itself.

I run my own businesses and have had so many cancellations this week. I’m in dire straits and am terrified of losing my home, especially as I have a baby on the way. I woke up in the middle of the night wondering whether life is still worth living. I’m far more anxious about losing my home than catching the virus - the chance of the former happening is so much higher than the latter.

I would be interested to see if Insurance companies include a risk of this event happening again, and if so how much premiums would be if cover is to include loss claims under these extraordinary circumstances......

Insurance companies can cover against this but it costs money. It is not unexpected that we are having a pandemic, we (scientists) have been saying for a while we are overdue one. But many people won't bother insuring against a once in a hundred years event. Companies that survive might insure against infectious disease for 20-30 years but then people will forget again just like most of us forgot about the 1918 pandemic.

That's what I was thinking count. If people want insurance to pay out in the event of this type of extraordinary and catastrophic situation, would they be prepared to pay the exorbitant premiums for it?

Agreed 100 percent we all know life is more important that money. However money issues are a major casue of stress, divorce, suicides etc. I mean I hate to add more negative stuff into a negative situation but many if us will suffer more than health effects. I just hope the government does enough to prob people up, as it is with all the kids clubs closing, not paying to commute or buy work lunches I'm saving money at the minute. But my husband is at more risk than me for job loss so squirming away any savings incase the worst happens. I was just about to close some high intrest credit cards paid off to stop me spending them but decided to keep them open just incase I need them down the line. But I hope not. Don't want to get in the messy debt I was once in although not Debt free yet. Anyway good luck to everyone and I'll try and support small businesses where can under what circumstances we are allowed. One thing I'm sure of though is "good" people out number "bad" and we will help each other out.

Are we going to make sure that large companies pay the full tax they should pay?

I would love to see that happen but doubt it will.

I've said before people panicking is often worse than the disease.

totally agree heresme and catastrophizing. (ok i went too far recently with irritation on mumsnet but jeeze, some people are going crazy)

I know there is a very real problem and there - will - be deaths but the panic buying is making a difficult situation worse. I was deeply relieved yesterday to see our local supermarket fully stocked and people buying normally. Even the loo roll was fine!