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Furlough scheme set to be extended until end of september
Furlough scheme set to be extended until end of september
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Replies: 172
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Hs2 and trident do feed cash into economy
Obviously some of trident cash goes to USA but I imagine there are kickbacks To our economy even on that money |
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As far as freezing c card interest that’s been notionally done.since April you have been able to arrange that for an initial 3 months freeze similar to a mortgage holiday.
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Mortgage holidays still see interest increase on balance
Not looked at credit card freeze, but don't confuse payment holiday With interest freeze |
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Hs2 and trident do feed cash into economy
Through employment? |
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As far as immigration continues there cannot be a problem - well not for the rich anyway !
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Yes barrow, through employment, and employees spending wages
And folk who got contracts make cash and can invest elsewhere Feeding in more cash... |
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InsiderTrader 11 May 20 16:06
Does the employer have to pay the other 40% or does the worker just get the 60%? Employer has to make up the difference otherwise 1,000's will be working at substantially under the minimum wage, it'll help the employers as most business will be operating at a fraction of their normal capacity. What it will do is provide a clearer picture come the end of September of just what business's are still going to be viable I suppose. At that point the real hard part will come when many will have to be cut adrift, you can't keep paying wages to those who in effect would be otherwise unemployed. |
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^
I was assuming that this was a phased back to work thing to help take the sting out of employer's having to find employees wages off of a drastically reduced ability to generate incomes, particularly in the hospitality sector. |
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Please boss, I have worked 60% of my hours this week, can I take the rest off unpaid?
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Kids and grandkids will enjoy higher income tax, vat etc..... we’ve screwed them over royally.
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They'll cope.
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They do not have a choice. Then again they've had it fairly easy, but the time for some hard graft may be upon them soon whether they like it or not. Nevertheless, something not within their compass given proper upbringing and conducive environment.
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P&O Ferries has announced plans to make 1,100 of its staff redundant.
Been clawing in the 'furdough' for weeks, now they're bailing out (pun intended) |
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80% doesn’t encourage people back to work, 60% will not pay most people’s rent. Government on a sticky dog imho.
The Financial / Economic crisis will be far worse than the medical crisis again imho The mixed messages about visiting your parents one at a time on neutral ground are nothing compared to the rocket science of getting people back to work and changing the structure of furlough. Unemployment will be catastrophic and public works like HS2 will be essential. They will print money with consequences moved down the road. |
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excellent post WD
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Thanks!
I Ashley have a lot of sympathy for Sunak here. He has been boxed in. If you run a business and have your staff on furlough why open up. Many businesses run on tight margins. They will just rack up losses on their own account and eventually have to lay off their workers. I have absolutely no incentive to go back to work except pride and sanity oh and avoiding alcoholism. Today is the first day I have not had a drink since lockdown started. Many people are also genuinely scared of the virus. People are scared of endangering loved ones. The scare about overwhelming the NHS has clouded all judgement. It is ironic they want US to use common sense now! |
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...and Limited companies can 'rack up losses' , dissolve and walk away from all the debt.
Company directors will have paid themselves a decent wedge on or around march and planning an exit strategy while the government pay the wages. The hospitality trade which has no chance of getting off the ground until July is in desperate bother especially for those that rely on a spring/summer trade and no light visible until next spring. 60% of minimum wage paid by the state, and the business having to top it up to at least minimum wage is a bridge too far. |
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i know someone who works for a minicab firm that mainly does corporate work from airports. the vehicles were on lease and have all been taken back as the boss can no longer make the payments and there will not be many people flying for a long time so he knows he is finished. the drivers are hourly paid, the boss furloughed the staff and told them once the government money is withdrawn he will shut up shop. sadly there will be many firms in a similar situation.
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You haven't seen anything yet jolly, just wait until this thing crashes the "economy", businesses will be going under left and right
And bare in mind this "furlogue" is essentially a loan to be paid back by the country, companies are facked big time I don't think people truly understand what's happening here, they think they're getting a few weeks off and everything will go back to some semblance of normality It ain't |
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The amount of people that will be topping themselves after this will outweigh the "virus" death toll
Riots then ensue And beware the men who go to war on their todds as well Cops? Christ their to busy making dance routines for tick tock  |
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Many other firms will survive because of the furlough.
Some companies have zero short term future, but hopefully the corporate taxi guy can set up again when things pick up. If not, somebody else will, and employ drivers. |
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Does anyone know what time Rishi is announcing this extension to the house of commons today?
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11:30am
Oral questions International Trade 12:00pm Oral questions Defence Urgent question The Government’s economic package in response to the Covid-19 outbreak Ministerial statement Covid-19 and Business Ministerial statement Covid-19 Guidance for Transport Users and Operators Motion Renewal of the temporary Standing Orders on Hybrid Proceedings General debate Covid-19 (continuation of debate) |
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Thanks PP, the timetable isn't that spedific then. I'll keep an eye out for it this afternoon
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12.30 i believe
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he is on bbc parliament channel now
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Talking now ….
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End of October
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extended for four months, until the end of october
until end of july no change |
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Not enough detail
Rushed out without notice to enable debate... Yet |
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Of course, the devil is always in the detail, but the headline extension to October cannot be faulted.
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There have been no reports of claim processing issues.
So, credit where it is due, quite an achievement to get a scheme of this size up and running smoothly in the timescale that they did. |
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80% until All Hallows' Eve!
I love this scheme  |
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only guaranteed 80% from government until the end of july, he said he wanted it to stay at 80% with employers until the end of october so he wants employers to contribute some.
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I have a lot of concerns with this but I have to say he has played a blinder so far. Much better than anyone with a job could have hoped for. My number one concern right now is will Companies be able to pay their employees the 20%. I think many cannot and many are tight and will not! imho the only way it will work properly rather than as intended is some sort of grant / tax brake for employers. How can many keep stumping up 20% with no income?
The bigger question is wtf is going on? This is not Ebola or a seriously bad pandemic. The survival rate after contracting the virus I think is in excess of 99% or close to. There is a huge huge huge financial / economic crisis looming and we are not even thinking about what we are going to do about it. This is most troubling. |
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Good news. Takes the pressure off for many (myself included) and buys some time.
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Just extending the pain.
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A politician doing what a politician does best..."Kicking the Can down the road" and spending money that comes from the taxpayer...
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