Where is all the money coming from?

[CloudsCanLookLikeSheep]

Am I missing something? How can we afford to pay everyones wages like this? And if we can find the money in the short term, what happens long term?

Tory cuts have always been ideological only. And what they are doing now goes some way to show the gravity of the situation we have here.

It's not real. They will print the money, and we will all probably suffer for years to come.

Just to add, I'm not saying there is anything else they can actually do! Not complaining, just saying.

It's about borrowing.

It also shows a light on how much an unnecessary lie austerity was.

We'll have to raise taxes after surely but I really don't care if if helps people now tbh.

Every country has a war budget. We've just cracked ours open

This is necessary to retain an economy when this virus has run its course. The measures are highly inflationary and will necessitate higher interest rates in the future.

Quantitive easing. It works.

Chancellor mentioned gilts - government fixed interest loans. They will be bought by pension schemes, investment managers, wealthy individual. The interest will be paid out of taxation, and eventually the capital as well.

I can't believe that QE really works somehow.. it may well do, but it seems illogical and somehow against the rules of economics...

What do you suggest? We let people starve as they’ve no money?

Me I’m lucky I’ve got money but imagine your Sarah, you have 3 dc your a single Mum working for minimal wage today her pub work place is closed, Sarah still needs to eat and feed her dc doesn’t she?

I will gladly pay more tax in the future if it means people are allowed to eat now

The world bank has announced funds to be released but I have no idea if the U.K. will benefit from that.

Pink if that question to me I don't remember ever saying we shouldn't do this. I'm just genuinely wondering where all this money can suddenly come from and what the longer term financial implications may be.

Agree with PP that it shows up what a sham the don't borrow/ austerity was

They had announced more borrowing before all this kicked off I think, I was

It will mostly come from borrowing. The idea is that allowing that many people to become unemployed and start claiming benefits will cost more in the long run.

Well fuck me this must be serious if the torys are giving money to (the little) people!

Borrowing and a lot of future belt tightening for everyone for the next 5-10 years once this is over.

Well fuck me this must be serious if the torys are giving money to (the little) people

No farmer ever made money from a dead herd.

I massively suspect a loan from Trump..

Like OhCrumbsWhereNow said - a lot longer I expect though. WW1 loans only repaid in 2015...

www.gov.uk/government/news/chancellor-to-repay-the-nations-first-world-war-debt

The taxpayer will be paying it back for a long time.

The magic money forest will need tending for the rest of this century. It’s not just the money they’re paying out, but the (deserved) extra on the nhs, etc..