mjheathcote
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So you can now work 3 days a week, but get paid over 86% of your wage, or 2 days a week and get paid 80% of your wage....
If I've got that right.
If I've got that right.
New job protection plan
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mjheathcote
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There must be some caps in place, like the furlough scheme, you would think.
safrane
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Even if they are set at the same as the last scheme they will be better off than many who remain in work at the hospitals and nursing homes.
Still I guess it will improve the UKs housing stock and gardens no end.
Just hate to think of the Government Debt after all this... may end up moving in with Whattie!
Still I guess it will improve the UKs housing stock and gardens no end.
Just hate to think of the Government Debt after all this... may end up moving in with Whattie!
CatmanV2
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Wanderer
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I think there is money. When I was at a certain nuclear installation and they were looking at cleaning up a certain failed atomic pile they needed 90bn quids worth of argon gas to part-do the job, which turned out to be more than the entire worlds supply of argon so plan was dropped. And that 90bn was a drop in the ocean. There is money in pots held by UK Gov plc everywhere. My guess is this is where this and similar money is coming from.
2b1ask1
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Well quantitive easing has never worked in the past as banks just swallow it and pay themselves ever bigger bonuses, look at the cockup of trying to peg the € & £ and the bank bailout. I think this lot have got of far better but putting the same funds they would with QE and giving it to real people via furlough and SE payments and loans and even eat out to help out. Putting money into the working part of the economy where it actually does something real people can see and be if it from. Let’s face it if they just gave everyone £2k most people would pay of loans and credit cards with it and the banks would win again!
whereskeith
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This is the first step to a living universal wage for everyone. Welcome to the world of Modern Monetary Theory where the Q/E taps are on forever .
outrun
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Are you talking The Great Reset here? That's quite a hardcore subject in many ways.
I think the level of information being fed to a willing, culpable and naive press has been laughable. They are brainwashing the masses with terminology such as "the new normal", "circuit breaker", "furlough", "R rate" and the like. They are all terms that are being fed before another step in their masterplan is implemented. And many are lapping it up like gospel. None of these terms are real, they are made up codswallop.
The reason why you keep bars/restaurants open till 10, why you have Gove telling people to work from home, and why we will see a "circuit breaker" lockdown including school closures over the October break and not during normal days is purely financial. It has nothing to do with restaurants having better systems in place than homes, and nothing to do with saving lives now as it's nothing like enough to achieve that. It's just utter tosh. If you close things and force people to be unable to earn then you have to pay for it and they are doing everything they can not to pay. If you keep it open, even under restriction and duress then you can argue that there is an earning capacity, however diminished and then seriously restrict the help you are obliged to give.
The only ray of light I can see is that many people are now not as willing to accept what they are being told and are seeking alternative opinions. Where there is danger in that, it is much more productive and enlightening than listening to a game of world politics where we are not the winners, not even the contestants.
The new scheme today from Sunak is nothing like enough and effectively forces employers to determine who has a worth and who does not. In a moment when the vast majority are trying to follow guidelines and save lives, it is despicable to be adding misery to many. It also leaves the self-employed and company directors almost entirely out in the cold again. The entrepreneurs, the people that built the Uk with innovation and determination are being left to struggle and question their worth.
The two greatest bastions of culture - Art and Science - are being cast aside and cheapened for the political aims of the few. Sensible, credible and provable science is being ignored. Art has been de-prioritised to the extend that great institutions will never open their doors again, never hold a performance, never display an installation or an art piece.
Although it's actually not true, there is a quote attributed to Churchill that nicely summarises this. When asked to cut arts funding and direct the money to the war effort he said,
"Then what are we fighting for?" (except he didn't but it's still a nice quote!!).
I don't have an answer to this clusterfuck of a moment but I can say that if you can't see what's going on around you and you aren't trying to educate yourself and make your own decisions then you should. And quickly.
Rant over. And I'm annoyed at dragging myself into it when I've been trying not to.
whereskeith
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no not talking about the great reset.
MMT is a different monetary policy / economic system where the Central banks constantly increase money in circulation (permanent QE) and control the the effect of that money and the economy through tax increases/decreases instead of just interest rate movements (which are effectively a blunt tool due to the extra money in circulation) . World governments have so much debt that unless we see defaults/write off’s they will never be able to repay it so part of MMT is that central banks purchase most government bond issuance from that QE meaning debt to GDP becomes meaningless and governments can continue to spend keeping populations happy .
I’m sorry this is a inadequate and basic description but it’s out there to read about without too much digging around .
Politicians “never waste a crisis “ and covid has certainly pushed us closer to economic change.
MMT is a different monetary policy / economic system where the Central banks constantly increase money in circulation (permanent QE) and control the the effect of that money and the economy through tax increases/decreases instead of just interest rate movements (which are effectively a blunt tool due to the extra money in circulation) . World governments have so much debt that unless we see defaults/write off’s they will never be able to repay it so part of MMT is that central banks purchase most government bond issuance from that QE meaning debt to GDP becomes meaningless and governments can continue to spend keeping populations happy .
I’m sorry this is a inadequate and basic description but it’s out there to read about without too much digging around .
Politicians “never waste a crisis “ and covid has certainly pushed us closer to economic change.
Wattie
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I think it’s ******* hilarious to suggest that Central banks “ constantly increase money in circulation (permanent QE) and control the the effect of that money and the economy”
They lost “control” 10 years ago and have about as much as an individual with dysentery, hence the desperation in plugging increasingly large holes with increasing massive sums of money from thin air.
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Wattie
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If that’s right the smart money works 2 days
spkennyuk
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The new scheme is employee has to work a minimum of 33% of their contracted hours which is paid by the employer.
The remaining amount above 33% and upto 77% of the contracted hours/wages is to be paid between the government scheme and the employer with an uppet cap set by the government iirc it either £600 or £650 p/week upper limit.
Basically its forcing employers to make a decision now as to making people redundant or trying to keep them employed on reduced hours when they have no idea how long the latest restrictions will continue.
Official figures for covid being contracted in the hospitality sector since day 1 is 4.6% which included the cluster f**k of the Cheltnam festival.
In other words over 95% of covid cases are contracted outside of the hospitality industry.
If i wanted to put spin on the figures your almost 22 times more likely to contract covid from other sources than you are from visiting a pub,restraunt, hotel or coffee shop.
My own view is that they should be avoiding the risk of people going to the pub until 10pm and then going on to house parties or group gatherings. Go back to 11pm last orders out by 11.30pm and it has to be UK wide curfew to avoid people hoping across boarders. Hopefully by 11.30pm most people will be happy and go home rather than going to X persons house with 10 others.
Most pubs are at reduced capacity by 30 to 50% winter arriving reduces any outside capacity still further. Most pubs take roughly 1/3rd of their weekly income on a friday and saturday night.
Draw your own conclusions as to what happens over the next few weeks / months in the hospitality industry.
Wattie
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Well it seems to me you can expect something similar in the UK.
www.reuters.com
Problem Translation -many have borrowed and will be unable to repay.
Solution- we will provide even more unrepayable debt to assist them.
Extend and pretend.
Fed's Rosengren says U.S. could face a credit crunch by year end if virus worsens
The U.S. economy could face more foreclosures and business bankruptcies in the fall and winter if there is a rise in infections and no additional fiscal aid, conditions that could make it harder for consumers and businesses to access credit, Boston Federal Reserve President...
www.reuters.com
Problem Translation -many have borrowed and will be unable to repay.
Solution- we will provide even more unrepayable debt to assist them.
Extend and pretend.
outrun
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Regardless of whether they are smart enough to have a masterplan in play - which I'm not sure they are, Rees-Mogg, Gove and Cummings aside, I still can't see what advantage there is in accelerating the numbers who will require to lean on the welfare system for unemployment benefit, housing etc etc. Surely it costs less to better support their employers to keep them in a wage, especially given the fact that international travel restrictions are ensuring that the majority of that income just gets re-spent into UK PLC.
As Wattie says, extend and pretend. More lending from the central bank, the retail banks and the government, all entrapping the ordinary person. It will just mean more defaults as you can't get blood from a stone.
So you're left with massive unemployment, massive increases in empty commercial premises, defaults across every sector of lending. Not exactly a stellar reelection policy.
If I was Keir Starmer, i'm be grinning ear to ear. He may have facilitated marxism and antisemitism and taken the knee very naively but he's the acceptable face of it to many.
The trouble with politicians is that they don't ever have a reason to think beyond their term and they are almost entirely unaccountable for their actions. That's a broken system if ever there was one.
I feel for @spkennyuk and others who work in super exposed sectors however I also don't clearly see why the focus has been on hospitality within the press. There has been the eat out help out vouchers and the VAT reduction to 5%, but no help whatsoever for other sectors which add far more, per capita, to the economy. Doesn't make sense to me.
As Wattie says, extend and pretend. More lending from the central bank, the retail banks and the government, all entrapping the ordinary person. It will just mean more defaults as you can't get blood from a stone.
So you're left with massive unemployment, massive increases in empty commercial premises, defaults across every sector of lending. Not exactly a stellar reelection policy.
If I was Keir Starmer, i'm be grinning ear to ear. He may have facilitated marxism and antisemitism and taken the knee very naively but he's the acceptable face of it to many.
The trouble with politicians is that they don't ever have a reason to think beyond their term and they are almost entirely unaccountable for their actions. That's a broken system if ever there was one.
I feel for @spkennyuk and others who work in super exposed sectors however I also don't clearly see why the focus has been on hospitality within the press. There has been the eat out help out vouchers and the VAT reduction to 5%, but no help whatsoever for other sectors which add far more, per capita, to the economy. Doesn't make sense to me.
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Wattrodamus only accepts payment in gold for his prophecies. Also, presumably, for bored [sic] and lodging.
Wattie
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Indeed I do.
interestingly, rather like Saint Bins Day, some of the flockers on here are beginning to realise that St Golds Day isn’t as much rubbish as they’d first thought.
I may yet be sainted.
