Coronavirus

No mate nowhere near enough. A bit of deferment on VAT payments for a couple of months. It's lip service.

The grant to pay for PAYE worker wages is good, but if you've got no trade coming in, you're still sat there twiddling your thumb and wondering whether you'll still be trading in a week.

 

Told you we'd get **** all.....

 

I suppose after the virus is finished there will be lesson pensions to pay out

 

DEAD right there mate.

 

You're a glass is half full kind of a guy I can tell

Every cloud eh?

 

Yeah, I noticed the old road sweeper out doing his rounds in Muswell Hill this morning. If all this leads to greater respect and appreciation for these people doing those sort necessary jobs - binmen too of course, bus drivers - then that’s a silver lining too.

 

UK gov borrowing from
UK pension funds/insurance companies (29%)
Private corporations / other financial institutions
UK building societies. (e.g. building societies buy government gilts to invest their savings to get a decent return.)
UK Banks
UK Private investors
Foreign investors (foreign banks and foreign investment firms (2018 approx 20%)
Bank of England Asset Purchase facility (Quantitative easing)

the last one I think, not sure. Move some paperwork around, add some zeros to a computer and boom.

Massive government debt, and everything costing more, everything, including all of the services the government has to pay for to run. Operational costs for companies.

But what would be worse is there if was no economy to pick back up, and the worst hit would be all of the industries that make everything actually work!

Its a rock and a hard place, and truth be told, if the gov is good at one thing, its borrowing ****loads of money and keeping the rickety carriage rolling on

 

At least the interest rates are low

 

They’ll borrow it. On the gilt markets. Interest rates are at record lows.

Remember all that stuff about the magic money tree, and what the country can and can’t afford? All bollocks mate, always was. Fair play to a Tory Chancellor for doing the right thing tbf.

 

Sorry for my ignorance but whst is Openreach.

 

https://www.openreach.com/

The Public face of BT if you will ( The Engineers etc you actually see ) , now part of the BT group .

Remember Buzby ?

That's us

 

agree
With how the government actually gets and manages money, forever putting debt further and further into the future, and servicing the debts essentially, they should borrow us all into mink coats cheese burgers and private jets and let the folk in 4020 worry about it

 

I LIKE that idea

 

Last I checked more tax was raised from smokers than it costs to treat them

 

Wouldn't doubt that mate....20 a day approx £140 a week.Insane.

 

In a word - debt.

At face value they’ve made the right call here (as always, I’ll read the small print before relaxing though) the cost will be huge, but it was a case of needs must, so 100% necessary.

The downside will be once we recover, as there’ll be a price to pay, and that’ll have to be via increased taxation.

 

**** our grandkids - let’s all have bentleys

Already lots of young people feel let down by previous generations... maybe rather than keep being pissed off we should just keep kicking the can down the road....

 

The Muggle Prime Minister and his chancellor have agreed a borrowing facility with Gringots Bank ... the downside is that any default could result in the return of he who can't be named ...

 

Consistency is the key

 

When do the tax hikes and austerity kick back in to pay for all this is the next question to be answered.

I wonder if the huge spending pledges in the budget will even be kept?

As you say though I think in this situation there really wasn’t much option but to spend big to try to stop the economy going into freefall. If there was ever a time to ignore ones normal ideological view of government spending it was now.

Keeping the economy on its feet when we come out the other side of this is the main aim right now and it’ll be interesting to see which countries can say they’ve achieved that when this is over.

P.s. could this be what tips the eurozone over the edge and leads to the collapse of the EU? (Sorry brb this was a joke!!!)