sir baconface
Well-Known Member
...however the response needs to be proportionate , if this goes on too long the impact is going to be worse than the virus itself. Hopefully in my view until the end of April then a gradual relaxation hopefully.
not only are businesses going bust, people losing their jobs but we are spending billions supporting business , high in many cases that won’t recover anyway particularly if this is going to last months.
Don’t forget not only are we currently spending billions we are doing so at a time when the tax take has absolutely tanked. People not driving cars , so no tax from the petrol, people not flying so no aviation tax, no people moving house so no stamp duty, let alone businesses not trading for a few months so no tax take from these businesses or people.
if people think austerity was bad after the financial crash wait for this. This is already going to be hard enough, the longer the period of lockdown goes harder and longer it is going to take to recover.
people need to start throwing into the equation the hardship and severity of the after effects when they are considering how long current lock downs are going to go on for.
So true, apart from April looking optimistic. The arguments on here and elsewhere will pale into insignificance compared to those in the economic aftermath.
The 80% provisions, whilst laudable and necessary, provide temporary camouflage. They might even be a bit of fun for some in their novelty phase. However, they won’t prevent loads of businesses going tits up. Employers generally get lambasted for being fat exploitative bastards. Rather fewer people appreciate that lack of cash flow is - sooner or later - fatal to any commercial operation. And that translates into job losses.
As you say, there’s a humungous tab to be picked up whilst the tax take is dwindling. Only massive borrowing can plug the gap. That too will impact for years to come.
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