250 billion in aid
Discussion
The quietest thread ever. Shows how many people benefit from this. Could easily have been less money and nobody would have complained.
Sad for people that may have been let go before the announcement.
Bad for people that happened to be self employed. Normally the brains in any workplace.
When it all blows over I cant see the pm having the cheek to up everyones tax or increase vat. Imagine that if you had suffered without the support?
I suggest sunak is no bozo and that the tax code for everyone helped out should be changed to recoup the outlay over say 10 years.
If they retire before that probably a charge on their estate when deceased.
Sad for people that may have been let go before the announcement.
Bad for people that happened to be self employed. Normally the brains in any workplace.
When it all blows over I cant see the pm having the cheek to up everyones tax or increase vat. Imagine that if you had suffered without the support?
I suggest sunak is no bozo and that the tax code for everyone helped out should be changed to recoup the outlay over say 10 years.
If they retire before that probably a charge on their estate when deceased.
andymc said:
Guys, where will the government get the funds? I’m assuming it can’t be the USA as they have their own problems and I’d imagine Boris doesn’t have that sort of money sloshing around
The Government issues bonds and the Bank of England prints the money and buys them.In principle it is inflationary, but in reality, because it is a global problem and everyone is doing the same, it doesn’t really matter.
loafer123 said:
The Government issues bonds and the Bank of England prints the money and buys them.
In principle it is inflationary, but in reality, because it is a global problem and everyone is doing the same, it doesn’t really matter.
Are they, and to the same extent? If every economy in the world agreed to issue a similar % call on a cash injection through bonds, I have no issue with that strategy. The reality is there will be winners and losers in terms of national debt and, regrettably, Britain will catch a massive hit, IMHO.In principle it is inflationary, but in reality, because it is a global problem and everyone is doing the same, it doesn’t really matter.
Hope I'm wrong?
pequod said:
loafer123 said:
The Government issues bonds and the Bank of England prints the money and buys them.
In principle it is inflationary, but in reality, because it is a global problem and everyone is doing the same, it doesn’t really matter.
Are they, and to the same extent? If every economy in the world agreed to issue a similar % call on a cash injection through bonds, I have no issue with that strategy. The reality is there will be winners and losers in terms of national debt and, regrettably, Britain will catch a massive hit, IMHO.In principle it is inflationary, but in reality, because it is a global problem and everyone is doing the same, it doesn’t really matter.
Hope I'm wrong?
Firstly, if countries haven’t done it yet, it is only a matter of time.
Secondly, even with this spending and additional national debt, we are still in the pack when it comes to debt:GDP ratios.
It is the right thing to do in a time of emergency.
Fundoreen said:
The quietest thread ever. Shows how many people benefit from this. Could easily have been less money and nobody would have complained.
Sad for people that may have been let go before the announcement.
Bad for people that happened to be self employed. Normally the brains in any workplace.
When it all blows over I cant see the pm having the cheek to up everyones tax or increase vat. Imagine that if you had suffered without the support?
I suggest sunak is no bozo and that the tax code for everyone helped out should be changed to recoup the outlay over say 10 years.
If they retire before that probably a charge on their estate when deceased.
Are you self-employed by any chance?!!Sad for people that may have been let go before the announcement.
Bad for people that happened to be self employed. Normally the brains in any workplace.
When it all blows over I cant see the pm having the cheek to up everyones tax or increase vat. Imagine that if you had suffered without the support?
I suggest sunak is no bozo and that the tax code for everyone helped out should be changed to recoup the outlay over say 10 years.
If they retire before that probably a charge on their estate when deceased.
Garibaldi_red said:
Fundoreen said:
The quietest thread ever. Shows how many people benefit from this. Could easily have been less money and nobody would have complained.
Sad for people that may have been let go before the announcement.
Bad for people that happened to be self employed. Normally the brains in any workplace.
When it all blows over I cant see the pm having the cheek to up everyones tax or increase vat. Imagine that if you had suffered without the support?
I suggest sunak is no bozo and that the tax code for everyone helped out should be changed to recoup the outlay over say 10 years.
If they retire before that probably a charge on their estate when deceased.
Are you self-employed by any chance?!!Sad for people that may have been let go before the announcement.
Bad for people that happened to be self employed. Normally the brains in any workplace.
When it all blows over I cant see the pm having the cheek to up everyones tax or increase vat. Imagine that if you had suffered without the support?
I suggest sunak is no bozo and that the tax code for everyone helped out should be changed to recoup the outlay over say 10 years.
If they retire before that probably a charge on their estate when deceased.
loafer123 said:
pequod said:
loafer123 said:
The Government issues bonds and the Bank of England prints the money and buys them.
In principle it is inflationary, but in reality, because it is a global problem and everyone is doing the same, it doesn’t really matter.
Are they, and to the same extent? If every economy in the world agreed to issue a similar % call on a cash injection through bonds, I have no issue with that strategy. The reality is there will be winners and losers in terms of national debt and, regrettably, Britain will catch a massive hit, IMHO.In principle it is inflationary, but in reality, because it is a global problem and everyone is doing the same, it doesn’t really matter.
Hope I'm wrong?
Firstly, if countries haven’t done it yet, it is only a matter of time.
Secondly, even with this spending and additional national debt, we are still in the pack when it comes to debt:GDP ratios.
It is the right thing to do in a time of emergency.
As for your last point it was the 'only' thing to do as well as being right, in the current circumstances.
loafer123 said:
The Government issues bonds and the Bank of England prints the money and buys them.
In principle it is inflationary, but in reality, because it is a global problem and everyone is doing the same, it doesn’t really matter.
It's not that everyone else is doing it that stops it fueling inflation, it's that the virus recession, like the GFC, will likely be deflationary and the net effect of qe will, if it's sized right, broadly cancel out. Hopefully.In principle it is inflationary, but in reality, because it is a global problem and everyone is doing the same, it doesn’t really matter.
fblm said:
It's not that everyone else is doing it that stops it fueling inflation, it's that the virus recession, like the GFC, will likely be deflationary and the net effect of qe will, if it's sized right, broadly cancel out. Hopefully.
True. In the short term the treacle like velocity of money is deflationary. In the long term, when velocity recovers and the money is still in the system, it could be an issue in theory, but because everyone is doing it at the same time, it won’t be.s1962a said:
They could always add 1% on top of income tax across the board. Yeah we'll all complain but deep down we all know it might be the best course of action once this is all over and life gets back to some sort of normality.
I think something like this will happen. What’s been spent now is unprecedented and needs to be. however, when the dust settles, there will be a hole in the accounts and to be honest I won’t mind a moderate increase in tax in order to fill it.Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff