Coronavirus

[afcftw]

Everything is loans.
Would you take out a loan to pay staff on a closed business?

I think many will opt to let them go and re-hire once the tide has turned

Grants for small businesses in hospitality/retail too, as well as no business rates for 12 months.

I agree though there will still probably be a lot of lay offs. Though he did say the next step is speaking with unions and looking at the difficulties around wages.

 

[Joelinton's Right Foot]

That's down to the people, see how much British give a **** about one another. We now know, out in the open, the government are supporting them if they want that support. If your boss denies that, your boss is a ****. Simple as.

I have no idea who my boss is when it comes to decisions like that. We're a listed company so those bosses are ultimately faceless shareholders. Others will be in the same position. I'm not an employee. I'm a number in the expenses column.

 

[astro]

Rishi comes across like he knows what he’s doing. A rarity in politics these days! Surely he’s a future candidate for PM.

brb banned political opinions

 

[Welshie]

brb banned political opinions

I think he more outright banned people making snide comments towards each other disguised as a political opinion. When someone says "I think the government is doing the right thing." and someone responds "Bollocks man, he's a **** and you're an idiot" it's a little bit toxic.

 

[afcftw]

brb banned political opinions

[HASHTAG]#grass[/HASHTAG]
[HASHTAG]#snitchesgetstitches[/HASHTAG]

 

[Welshie]

I have no idea who my boss is when it comes to decisions like that. We're a listed company so those bosses are ultimately faceless shareholders. Others will be in the same position. I'm not an employee. I'm a number in the expenses column.

Yep. It's those people who will be more than happy to sack and move on. I manage myself, and I'm in daily contact with the owner. I know we will fight for every member of staff to keep their jobs, we are a close team. Other people won't be as lucky.

 

[astro]

[HASHTAG]#grass[/HASHTAG]
[HASHTAG]#snitchesgetstitches[/HASHTAG]

I didn't tag him

[HASHTAG]#nosnitch[/HASHTAG]

 

[Joelinton's Right Foot]

I think he more outright banned people making snide comments towards each other disguised as a political opinion. When someone says "I think the government is doing the right thing." and someone responds "Bollocks man, he's a **** and you're an idiot" it's a little bit toxic.

But what if he is a ****???

Edit: Sorry, just re-read it. Thought you were still talking about brb

 

[Tobes]

Seems like some decent support and help in place now to help businesses and mortgage payments. My worry is that now puts the onus onto business owners to do the right thing and not lay people off, taking advantage of the loans available. Problem is I have no trust in business to choose to go into debt rather than just lay people off.

It’s all very well offering loans to cover wage bills and fixed costs, but the effectiveness depends on the size of your payroll vs the drop in revenue. If your payroll is into the hundreds or thousands a month, and revenues dwindle to virtually nothing, then accruing debt in order to keep people paid who are largely none productive during this crisis, simply doesn’t cut it, if this crisis extends into months.

Johnson also mentioned that insurers would pay based on the Govts advice as opposed to it having to be a mandated shutdown. Someone is using weasel words, as pandemic insurance to cover this particular virus doesn’t exist according to our broker. So either the insurance industry has placated the Govt knowing it’ll never have to pay, or the Govt is pulling the wool for the benefit of the populous. Take your pick.

Mortgage holidays is a great measure, but I missed what happens to those who aren’t home owners and are paying rent, was this covered?

 

[afcftw]

But what if he is a ****???

Edit: Sorry, just re-read it. Thought you were still talking about brb

 

[afcftw]

It’s all very well offering loans to cover wage bills and fixed costs, but the effectiveness depends on the size of your payroll vs the drop in revenue. If your payroll is into the hundreds or thousands a month, and revenues dwindle to virtually nothing, then accruing debt in order to keep people paid who are largely none productive during this crisis, simply doesn’t cut it, if this crisis extends into months.

Johnson also mentioned that insurers would pay based on the Govts advice as opposed to it having to be a mandated shutdown. Someone is using weasel words, as pandemic insurance to cover this particular virus doesn’t exist according to our broker. So either the insurance industry has placated the Govt knowing it’ll never have to pay, or the Govt is pulling the wool for the benefit of the populous. Take your pick.

Mortgage holidays is a great measure, but I missed what happens to those who aren’t home owners and are paying rent, was this covered?

Nothing to do with covering rent yet.

I thought in terms of insurance he was saying pandemic insurance would pay out, though there isn’t any detail yet.

 

[Welshie]

It’s all very well offering loans to cover wage bills and fixed costs, but the effectiveness depends on the size of your payroll vs the drop in revenue. If your payroll is into the hundreds or thousands a month, and revenues dwindle to virtually nothing, then accruing debt in order to keep people paid who are largely none productive during this crisis, simply doesn’t cut it, if this crisis extends into months.

Johnson also mentioned that insurers would pay based on the Govts advice as opposed to it having to be a mandated shutdown. Someone is using weasel words, as pandemic insurance to cover this particular virus doesn’t exist according to our broker. So either the insurance industry has placated the Govt knowing it’ll never have to pay, or the Govt is pulling the wool for the benefit of the populous. Take your pick.

Mortgage holidays is a great measure, but I missed what happens to those who aren’t home owners and are paying rent, was this covered?

Something I'm very interested in, I am paying attention to the UK a lot not only because of my family but also because anything big happening there will likely be replicated in Norway. I suspect grants and such to companies will be rolled out here in the coming days, rumours have been going around about that.

Across Europe most people rent, home owning outright is rare, I am very interested to see how people will be expected to rent and deal with landlords if they have a massive drop in income randomly. Will landlords receive payouts? They said its a work in progress and we will hear more tomorrow so, let's see.

 

[HRH Custard VC]

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[Tobes]

Nothing to do with covering rent yet.

I thought in terms of insurance he was saying pandemic insurance would pay out, though there isn’t any detail yet.

No. What he said was those who had pandemic insurance that covered it, would be paid out based on the Govt advising people not to go to pubs, clubs etc, as opposed to banning people from doing so, which was the concern raised last night. What I’ve been told is that pandemic cover for COVID-19 doesn’t exist, as the insurance has listed illnesses and this one is new, so wasn’t on it.

 

[Joelinton's Right Foot]

It’s all very well offering loans to cover wage bills and fixed costs, but the effectiveness depends on the size of your payroll vs the drop in revenue. If your payroll is into the hundreds or thousands a month, and revenues dwindle to virtually nothing, then accruing debt in order to keep people paid who are largely none productive during this crisis, simply doesn’t cut it, if this crisis extends into months.

I agree, and that's the point I was trying to make, just less succinctly than you did

 

[afcftw]

No. What he said was those who had pandemic insurance that covered it, would be paid out based on the Govt advising people not to go to pubs, clubs etc, as opposed to banning people from doing so, which was the concern raised last night. What I’ve been told is that pandemic cover for COVID-19 doesn’t exist, as the insurance has listed illnesses and this one is new, so wasn’t on it.

That’ll have to be the next question about insurance then!

Insurance companies are such slimey bastards.

 

[Star of David Bardsley]

Nothing to do with covering rent yet.

I thought in terms of insurance he was saying pandemic insurance would pay out, though there isn’t any detail yet.

Trying to be as fair to him as possible, he can’t give a detailed answer in a short briefing even if he has one. I see LL’s point that it is largely loans which may not be helpful for some. Also see it as a step, finally and perhaps not out of choice, in the right direction. Wouldn’t be hugely assured if I was renting and hope, though don’t expect, that to follow.

Still think the lack of slack in the NHS is going to bite us terribly sooner or later.

 

[Tobes]

That’ll have to be the next question about insurance then!

Insurance companies are such slimey bastards.

They are indeed, as people have insured thinking they had protected themselves. Taking out business interruption insurance and then finding out that a force majeure like this isn’t covered. Then that being backed up with finding out that pandemic cover is basically not worth the paper it’s written on either, isn’t great. I suspect many thousands of businesses have been told the same today.

 

[afcftw]

Something I'm very interested in, I am paying attention to the UK a lot not only because of my family but also because anything big happening there will likely be replicated in Norway. I suspect grants and such to companies will be rolled out here in the coming days, rumours have been going around about that.

Across Europe most people rent, home owning outright is rare, I am very interested to see how people will be expected to rent and deal with landlords if they have a massive drop in income randomly. Will landlords receive payouts? They said its a work in progress and we will hear more tomorrow so, let's see.

I’ll be interested to see what is announced in relation to rents. I rent out a property and am lucky enough to be in a position where I can afford to cover the mortgage if my tenant ends up sick or unemployed and unable to pay (in that situation I’ll offer to let the tenant pay when back on their feet). But others won’t necessarily be in the position to do this so both tenants and landlords could end up ****ed.

 

[Number 1 Jasper]

brb banned political opinions

No he didn’t . He banned a cesspit of hatred .