@ListeningQuietly
Zazie
Pretending that everybody will return to 5 days a week in city centre offices is deluded.
Chances are it will NEVER go back to how it was.
Those properties should be vacated and then new businesses move in at a later date.
Cruise ships and their shore based offices - ditto
Airlines and airport retail franchises - ditto
B&M shops in malls - ditto
If those employees got their P45s now but received a decent level of UC right away
then people could look forwards rather than sitting in limbo.
@ListeningQuietly
I think you missed my point, apologies if it was somewhat opaque. I didn’t say that it was right to keep the commercial property sector afloat. I wasn’t advocating for it. But I do think that doing so factors into current decision making a great deal, for both bad and good reasons.
My point was that how employment/business support is being designed at the moment is to keep money flowing to commercial property owners, at least in the short term.
The cynical part of me thinks this has a lot to do with the fact that super-rich people back the Tory party, people with huge property portfolios.
The less cynical part of me realises that pension funds are major players in commercial property.
In truth there’s probably an element of both.
Commercial property has been a very unsustainable cash cow for a long time. A rebalance is needed between the amount of space given to residential vs commercial property, and corrections to how much commercial space costs and where it is located.
But that’s a lot different to 1) the Tory party turning off the cash taps sharpish to some of their vested interests and 2) dramatic and sudden crashes to pension funds at an already highly volatile time.
I also think a shift to different work patterns for those who can is brilliant in many ways, but am also aware it could carry a very dark lining wrt to outsourcing to cheaper places once a need for geographic proximity is removed from many workforces. There are plenty of people who look at increased WFH as an opportunity to maximise profits rather than improve their employees work-life balance. Not every employer is like that, but enough are to seriously alter the labour markets in several fields.