Where is the cash going to come from?
26/03/2020 | news | business | 371
The UK government must make huge interventions to deal with the coronavirus but the costs are adding up.
1
26/03/2020 11:09:52 22 45
bbc
No problem, Boris has a magic money tree. cancel Brexit to save ££££
2
26/03/2020 11:10:52 96 17
bbc
'Where is the cash going to come from?' I know the answer to this one. It's 'Us'. As in the general public. We'll be paying it back for years. The bankers will do well enough though.
88
dan
26/03/2020 11:58:44 14 4
bbc
2. Posted byRoy G Bivon 45 minutes ago 'Where is the cash going to come from?' I know the answer to this one. It's 'Us'. As in the general public. We'll be paying it back for years. The bankers will do well enough though. -- And why shouldn't it be us? This spending is being used to protect US, no one else is going to pay it. Why do people think we should get something for nothing?
367
27/03/2020 17:18:57 2 0
bbc
@2 Roy "'Where is the cash going to come from?' I know the answer to this one. It's 'Us'. As in the general public. We'll be paying it back for years. The bankers will do well enough though." Absolutely it will, we are the economy. The masses produce nearly all the wealth, which is what keeps it all running. I suspect you meant by increased taxes & public service cuts. No need, but...
3
26/03/2020 11:11:52 4 3
bbc
Maybourne hotel group lat off most of their staff and not provided any assurance if they would be taken back in as furloughed. #Blame&Shame
4
26/03/2020 11:12:52 30 5
bbc
I'm sure multi billionaire Phil Green and his wife Tina will be only too happy to help the nation considering the Corona situation.
5
26/03/2020 11:13:52 10 17
bbc
The central bank will buy up all government debt from their fraudulent bank account with the ability to create cash out of thin air. We are going to have a hyperinflation. A Pint of milk will cost hundreds of pounds and you'll be able to get toilet paper from your nearest ATM.
6
26/03/2020 11:13:52 45 8
bbc
HMRC has been running a tax gap of around £35bn every financial year, which if they tried harder to clamp down on would help going forward. Also if offshore tax avoidance is not included in this then this would be an added bonus if rules on tax haven usage were changed.
33
26/03/2020 11:31:10 8 2
bbc
6 BWhit480 Also if offshore tax avoidance is not included in this then this would be an added bonus if rules on tax haven usage were changed. _ Nice thought but the primary reason for Brexit being bankrolled by dodgy money and hedge-funders was because incoming EU rules on tax transparency would have compromised our dodgy tax havens. So.... ain't gonna happen Hoist by our own populist petard
7
26/03/2020 11:15:52 5 3
bbc
PM Cummings bought https://amzn.to/2xUj9Or for his new economic manual.
8
26/03/2020 11:15:52 12 2
bbc
It will come from higher long term taxes ,and, via a bout of inflation due to money printing, from private sector pensioners.
9
26/03/2020 11:16:42 57 4
bbc
“Monetising fiscal deficits” will be a term we see more and more often moving forward. What I’m failing to understand is how this isn’t creating inflation... perhaps because all countries are at it, or deflationary trends in production and AI... all I know is you can’t have something for nothing and this in the medium to long term can’t end well. Great article BBC btw. Keep it up!
10
Tim
26/03/2020 11:18:33 12 14
bbc
The magic money tree that apparently only exists under the conservatives will find the money.
11
RSA
26/03/2020 11:18:53 23 12
bbc
I hope that the people who have been supported by all the handouts and borrowing will not moan at the next austerity period which will be needed to pay for it all. Government cash comes from the people in the first place. Pity all the self employed who did not declare full incomes to HMRC as their help may be assessed on those figures.
52
26/03/2020 11:43:06 18 2
bbc
11. RSA: Pity all the self employed who did not declare full incomes to HMRC as their help may be assessed on those figures. ___ Are you serious! As part of the 95% of businesses who don't commit fraud, I will laugh my whatsits off if the VAT, income tax, and NI dodgers undercutting legitimate traders get screwed by this. At last, the honest folk rewarded for doing the right thing.
12
26/03/2020 11:19:19 25 9
bbc
The obvious new tax is on higher end properties ,where at present a 7million pound house pays the same as a 700,000. Wouldn’t it be great if just this once Londoners got a kicking?
13
26/03/2020 11:19:19 14 31
bbc
Higher taxes for those who still have a job for sure. And higher inheritance tax to fill the empty coffers faster. Most inheritance is property value based which has neither been earned nor taxed. Better to give it to benefit society In general than a single individual’s cars and holiday
57
26/03/2020 11:44:57 25 3
bbc
13.SLOPPYSUE. Am I right in thinking you do not own a house. Maybe you spend your money on other things. We have worked hard for ours given up holidays ect. My car was bought in 2000. Now you want to give our house away. Shame on you.
199
26/03/2020 13:28:51 3 3
bbc
@13 Keep your thieving philosophy off my property and wealth.
14
26/03/2020 11:19:19 6 1
bbc
The only certainty is that the banks will come out pretty much unscathed. The difference between now and 2008 is that rather than billions going to the banks it is coming to the workforce - classic demand side economics. Just a pity that the banks can't suspend all interest on loans, every type of loan, for three months or so.
15
26/03/2020 11:19:54 49 11
bbc
If they did nothing to help out you would all be complaining what other choice do they have not one of you has come up with that answer.
95
26/03/2020 12:01:56 3 6
bbc
@15 - 'If they did nothing to help out you would all be complaining what other choice do they have not one of you has come up with that answer.' Well, the answer would be to put the NHS in a much better position to start off with by not starving it of funding for the last decade. But that would require moving away from the 'small statism' that typifies our libertarian government.
16
26/03/2020 11:19:54 16 8
bbc
We are going to see something that will make the great depression look like a tea party. You have to question whether the lives saved will outweigh the suffering that the entire population will experience at the end of all this + the health impacts/costs associated with everyone staying home. It is a genuine worry
86
26/03/2020 11:58:34 10 0
bbc
@16 majorwedgy ... You have to question whether the lives saved will outweigh the suffering that the entire population will experience at the end of all this + the health impacts/costs associated with everyone staying home. ---- Perhaps you'd like to volunteer to lick up and breathe in all the virus particles for us then, and take a hit for the country?
17
bbc
All because someone in China ate a bat. Removed
18
SG
26/03/2020 11:21:25 18 6
bbc
We spend gazillions on military every year. F35 £100 million a pop, Aircraft Carriers £6 billion for 2. Trident £205 billion... Funny! none of them can protect us from Covid-19. But simple & cheap PPE which the doctors & nurses need, we don't have enough of. Mad.
19
26/03/2020 11:21:55 12 3
bbc
when all countries have had to use the printer , then all that has happened is the great reveal of Money ... Capitalism , making money from money is just a system. There needs to be no impact in the future (Austerity was an ideology) as we now can clearly see the printer is lending to Govts. All are doing it so the relative currency valuation is all that matters .. currently 1.19 USD to GBP.
20
26/03/2020 11:21:55 71 10
bbc
It'll be paid for by another decade of austerity. Future Government will need to make sure that the burden is shared out equally this time.
21
26/03/2020 11:21:55 13 1
bbc
LOL ... “Where is the cash going to come from?” the commoners asked.
22
26/03/2020 11:22:45 15 2
bbc
Almost everyone will end up paying much higher taxes. People also need to remember that pension funds hold a substantial proportion of shares. Penalise companies and pensioners and people saving for a pension take the hit.
23
26/03/2020 11:23:36 7 3
bbc
Roy biv, the "bankers" are us too you know. Yes, we will all have to pay back via increased taxes, but those with the deepest pockets should be expected to contribute at the very least proportionately more, but preferably disproportionately more. I would be looking to vote for a party that assured this was the case and I would expect those fortunate enough to have so much to be happy to dig deeply
90
26/03/2020 11:59:25 3 2
bbc
23.Spark plug Yes, we will all have to pay back via increased taxes, but those with the deepest pockets should be expected to contribute at the very least proportionately more... erm that's called the income tax system (assuming its paid I agree) 20%, 40% and 45% 'luxury' spending also has VAT applied, you may have heard of this? Again ASSUMING they pay in UK, companies pay 19% corp tax
24
26/03/2020 11:24:47 62 10
bbc
Richard Branson, the Barclay brothers (Ritz) Philip green and many more should see they wealth shine. We need a leveling off and they have the money to help. We might pay higher taxes but I am happy with that as long as everyone pays.
25
26/03/2020 11:24:47 29 7
bbc
Whichever way you look at it, working age and their kids, and probably their kids too, will be paying for all this. And this is on top of the previous financial baggage they were going to have to carry. Anyone defending IHT cuts now?
26
MVP
26/03/2020 11:25:17 13 21
bbc
It does make you wonder why this type of support was not made available to people before the virus. It seems there really is a magic money tree and all we had to do was to ask.
39
26/03/2020 11:36:53 11 2
bbc
26. Posted byMVPon >It does make you wonder why this type of support was not made available to people before the virus. >It seems there really is a magic money tree and all we had to do was to ask No! These are desperate measures for desperate times. The government is trying to stop a 1929 type economic crash.
27
26/03/2020 11:25:47 7 2
bbc
As other have said, if QE is used then the impact is on GBP, but if everyone does it then the impact should be negligible. Eurozone interesting as countries dont have the power to do QE, so Germany has taken on debt - this may seriously impact other countries ability to print magic money and may also cause Germany to try to limit QE from ECB as well as boosting the Euro which wont help either
28
26/03/2020 11:27:08 10 9
bbc
Someone is bound to mention "Gordon Brown selling all our gold cheap". But: 1. We are not on the Gold Standard so the government can spend money that doesn't exist whenever they want (ie to pay for WW1 or the 'war' on coronavirus 2 They will still probably trick the electorate into thinking they have to pay it back through more austerity
29
26/03/2020 11:28:39 22 2
bbc
We will all have to pay in one firm or other. Increase in tax, VAT, flying surcharge, MOT, petrol, alcohol, smoking, Etc. Staying alive!
30
26/03/2020 11:29:19 69 10
bbc
What's the chances that the one country that ends up better off after all this is China?
31
26/03/2020 11:30:20 8 7
bbc
Where does any UK govt get money from? - taxing the people. Perhaps if Apple, Google, the ERG weren't all involved in tax-dodging schemes they wouldn't need to, but we shouldn't mention that because it's an awkward truth for too many people. Let's just say "Corbyn would be worse" like that's a useful contribution.
32
26/03/2020 11:30:40 26 5
bbc
Our current debt interest is about 1/3 of an NHS. This will at least double. For those saying 'no austerity' where will the money come from? Adding 5-10p to tax rates and increasing corporation tax will not come close to covering the interest, let alone paying anything back.
6
26/03/2020 11:13:52 45 8
bbc
HMRC has been running a tax gap of around £35bn every financial year, which if they tried harder to clamp down on would help going forward. Also if offshore tax avoidance is not included in this then this would be an added bonus if rules on tax haven usage were changed.
33
26/03/2020 11:31:10 8 2
bbc
6 BWhit480 Also if offshore tax avoidance is not included in this then this would be an added bonus if rules on tax haven usage were changed. _ Nice thought but the primary reason for Brexit being bankrolled by dodgy money and hedge-funders was because incoming EU rules on tax transparency would have compromised our dodgy tax havens. So.... ain't gonna happen Hoist by our own populist petard
34
26/03/2020 11:32:31 5 6
bbc
What cash? Has the Gov't spent any yet?
35
26/03/2020 11:32:51 13 12
bbc
Well I f tou work in the nhs local councils the fire service or plice get prepared for a big thank you from boris in the form of another 10 year pay freeze, budget cuts and raiding of pensions
36
26/03/2020 11:35:42 16 2
bbc
If we don’t learn our lesson from this then there is no hope! Time for a change The Government need to restructure and ring fence tax and NI contributions to support and properly fund the NHS, Social Care and the Welfare State. We all need to pay our taxes, for far too long it has been seen as some sort of game by sections of society at all levels, how little can I pay in tax.
75
26/03/2020 11:53:21 4 0
bbc
36 sole survivor "We all need to pay our taxes, for far too long it has been seen as some sort of game by sections of society at all levels, how little can I pay in tax" I agree with the sentiment but you need to have work to pay tax and work is disappearing fast. As one contributor to this HYS pointed out, more people will die from the economic crisis than the coronavirus.
37
26/03/2020 11:35:52 12 10
bbc
I love how the notion of higher IHT remains so contentious with people. I live in a house that is probably worth £500k more than I paid for it. It won’t hurt me if the govt takes 80% or even 100% of that unearned, untaxed wealth. Why should my son get all that when it could be used to help younger generations out of austerity sooner? The hypocrisy of some people staggers me
38
26/03/2020 11:36:23 1 2
bbc
How exactly are they going to repay the overdraft after their temporary lift?
26
MVP
26/03/2020 11:25:17 13 21
bbc
It does make you wonder why this type of support was not made available to people before the virus. It seems there really is a magic money tree and all we had to do was to ask.
39
26/03/2020 11:36:53 11 2
bbc
26. Posted byMVPon >It does make you wonder why this type of support was not made available to people before the virus. >It seems there really is a magic money tree and all we had to do was to ask No! These are desperate measures for desperate times. The government is trying to stop a 1929 type economic crash.
40
26/03/2020 11:37:43 6 3
bbc
The £330bn loans to business was just a publicity stunt. The amount taken up will be a fraction of that, even before the banks started asking for personal guarantees.
41
26/03/2020 11:37:43 3 5
bbc
And the answer is... Zimbabwe type inflation
42
26/03/2020 11:26:43 13 8
bbc
As Jeremy Corbyn said, the money was ALWAYS there to be used. Taxes, capital gains borrowing, redistribution from filthy rich to middle and poor. The poor were called "unskilled" but now they're "key workers" all of a sudden. Funny that. Since Cameron there has been a torrent of pro-austerity propaganda, making people believe that there's no money available. Don't be a sap.
43
26/03/2020 11:26:43 8 2
bbc
Strange lack response from Amazon Netflix Google Who have been accused of finding tax-efficient ways of not paying their dues in the country where their "sales are made. I might hazard a guess that they might be current beneficiaries??? So where is their "public statement of support" for COVID 19
44
26/03/2020 11:28:43 8 9
bbc
The answer to where the cash comes from is quite simple really. The NHS is a downpayment and after we get on the otherside, the government will privatise the NHS unfortunately.
45
26/03/2020 11:39:24 5 2
bbc
44 what tripe
44
26/03/2020 11:28:43 8 9
bbc
The answer to where the cash comes from is quite simple really. The NHS is a downpayment and after we get on the otherside, the government will privatise the NHS unfortunately.
45
26/03/2020 11:39:24 5 2
bbc
44 what tripe
46
26/03/2020 11:39:44 74 8
bbc
Sadly i believe the collapse of the economy will, inadvertently; cause many times more deaths than the corona virus
47
26/03/2020 11:40:05 5 2
bbc
Unfortunately if you shut the economy down, debt is the net consequence. How that will be paid can only be through higher taxes and very likely cuts.
48
Al
26/03/2020 11:40:05 12 7
bbc
Enough is enough. It has to come from wealth taxes We cannot expect working people to pay any more How can Rees Mogg spend £200,000 a year on private school fees whilst nurses earn 1/10th of that? How can millions of gig workers lose their incomes whilst Boomers head off to their second or third homes?
49
26/03/2020 11:40:35 7 2
bbc
At the end of all of this, it will be the working class that suffer. And I mean those that work. I won’t have any patience with those that choose not to and screw the system. And I hope the government gets tougher. Help the true needy in the future.
50
26/03/2020 11:41:05 3 8
bbc
It's coming from not having to buy 65 million broadband routers.
51
26/03/2020 11:42:36 10 1
bbc
The economy will start moving as soon as the Government is confident that the NHS in the most pupulated cities in England can cope with the number of patients the modellers at Imperial College London have predicted. I think we'll see a lifting of restrictions before we see businesses and individuals benefitting from any of the schemes announced.
11
RSA
26/03/2020 11:18:53 23 12
bbc
I hope that the people who have been supported by all the handouts and borrowing will not moan at the next austerity period which will be needed to pay for it all. Government cash comes from the people in the first place. Pity all the self employed who did not declare full incomes to HMRC as their help may be assessed on those figures.
52
26/03/2020 11:43:06 18 2
bbc
11. RSA: Pity all the self employed who did not declare full incomes to HMRC as their help may be assessed on those figures. ___ Are you serious! As part of the 95% of businesses who don't commit fraud, I will laugh my whatsits off if the VAT, income tax, and NI dodgers undercutting legitimate traders get screwed by this. At last, the honest folk rewarded for doing the right thing.
53
26/03/2020 11:43:46 1 1
bbc
The slow & inadequate Gov't response to support business and workers (employed & self-employed) means that the bulk of its increased expenditure will be on paying out benefits for the economically inactive.
54
26/03/2020 11:44:27 7 9
bbc
When the Magic Money Tree bill drops in, it is time to: 1. Raise inheritance tax. Anything over £500k taxed at 80%. Not sure why Sixtus Rees Mogg gets to inherit billions while millions of people lose their jobs 2. Tax second and third homes. Transfer 20% of value of second home to the state. 30% of third home and so on 3. Cut pensions 4. Rejoin the EU
55
26/03/2020 11:44:27 2 1
bbc
If it was OK in normal times for governments to borrow money & give it away they would do it routinely (and be very popular!). But it's not OK. The result of falling production, increased money borrowing & more money supply, will be increased inflation & increased interest rates. Those with savings in the bank will lose massively. Those with borrowings will see the capital value of those shrink.
56
26/03/2020 11:44:37 7 2
bbc
We have to be prepared for our unearned wealth, mostly accumulated through property price inflation, to be fairly taxed. The IHT thershold needs to be dropped dramatically. This would be the fairest of ALL possible taxes and it would most certainly affect my estate.
13
26/03/2020 11:19:19 14 31
bbc
Higher taxes for those who still have a job for sure. And higher inheritance tax to fill the empty coffers faster. Most inheritance is property value based which has neither been earned nor taxed. Better to give it to benefit society In general than a single individual’s cars and holiday
57
26/03/2020 11:44:57 25 3
bbc
13.SLOPPYSUE. Am I right in thinking you do not own a house. Maybe you spend your money on other things. We have worked hard for ours given up holidays ect. My car was bought in 2000. Now you want to give our house away. Shame on you.
58
26/03/2020 11:44:57 33 3
bbc
First thing to do is cancel that stupid train line to Birmingham and wherever........you only buy expensive toys if you have the spare money to do so . We don't ..............all vanity projects can take a walk as well
59
DG
26/03/2020 11:45:27 7 18
bbc
Those that should pay will get away with it...... China.
60
26/03/2020 11:45:27 11 1
bbc
Whatever way you look at it, it is printing money and that will lead to inflation. Does the phrase 'inflate your way out of debt' ring a bell. Frankly it is the only way and this time it is no one's fault.
61
26/03/2020 11:45:57 86 15
bbc
""Where is the cash going to come from?"" They could stop/cancel HSR2 for a start. There is uppwards of £100 Billion!!
69
DG
26/03/2020 11:49:39 1 5
bbc
61. Posted byjeffrey summerfield ""Where is the cash going to come from?"" They could stop/cancel HSR2 for a start. There is uppwards of £100 Billion!! // Quite right, then China can build it for free
62
26/03/2020 11:46:28 6 6
bbc
The left-leaning BBC have been criticising the government for not supporting people and companies, yet when they do they ask "where is the money coming from?" It claims international investors are rushing to buy dollars, yet the £ is recovering against the $ for several days. Poor article by a poor reporter.
63
26/03/2020 11:48:19 2 0
bbc
The Government doesn't have any money - its ours. They collect and spend it how they feel fit. The cost of these measures will be paid in the future by all taxpayers.....no doubt business owners will be hit hardest even though its them that who benefit directly the least from the measures in place.
64
26/03/2020 11:29:19 3 0
bbc
It isn't cash, it is not real money, just zeros added to a balance sheet. The G20 could just as easily remove two zeros as add them. Or of course Governments can turn the paper debt into hard cash in which case we will be in Austerity to pay for it for ever.
65
26/03/2020 11:31:19 4 1
bbc
If you actually read the economic experts (as you should be doing), they will tell you that advanced nations have a capacity to tolerate enormous levels of debt as a percentage of GDP just as Britain did after WW2 when we *additionally* had military spending at 10% of GDP as the cost of the upkeep of Britain's empire. We still could afford the NHS, welfare state and council house building.
66
26/03/2020 11:48:59 7 11
bbc
Tories think the 0.16% GDP gain we will get from buying Trump's chlorinated chickens should cover the tab Trouble with their cunning plan is the public are going to resist selling the NHS off to the orange Buffoon after this mess So we are stuck with a loss to GDP of 10% from COVID, plus another 10% thanks to Brexit 20% poorer all round then, though I suspect Boomer pensions will be ok
67
26/03/2020 11:48:59 3 0
bbc
Do we need more transparency around the work being done by the HMRC to pursue and collect tax, particularly when deals are done with business and it appears from the outside that only a fraction of what is owed ends up being paid. We all need to pay, but how many taxi drivers need to be audited for declaring £5000 in come but submitting 200,000 miles in diesel receipts, to match a Global Giant?
68
26/03/2020 11:49:19 3 2
bbc
Magic money tree?
61
26/03/2020 11:45:57 86 15
bbc
""Where is the cash going to come from?"" They could stop/cancel HSR2 for a start. There is uppwards of £100 Billion!!
69
DG
26/03/2020 11:49:39 1 5
bbc
61. Posted byjeffrey summerfield ""Where is the cash going to come from?"" They could stop/cancel HSR2 for a start. There is uppwards of £100 Billion!! // Quite right, then China can build it for free
70
26/03/2020 11:50:10 4 5
bbc
We are living in the dying days of the FIAT currency system, we're going to need a return to something like the Gold Standard, actual money, not worthless paper, coinage or numbers on a computer screen, actual money that people have a tangible reason to be confident in, that's fit for the 21st century and practical to regulate. Ripple XRP perhaps?!
71
joe
26/03/2020 11:41:30 4 8
bbc
We were heading for a massive depression, the virus is being used as a way to deflect attention, silence dissent and is a convenient scapegoat. Covid 19 can't answer back, and the architects of the crash will walk away scot free.
72
26/03/2020 11:52:21 3 3
bbc
Debt is a relative concept. There has been a lot written about the role of banks in this ponzi system. Perhaps we need to be thinking about a great reset of debt and assets and start again. This in itself won't solve inequality, but will let us breathe and start to plan for a future. Especially as the climate change costs are building up to hit us in the next decade or so.
73
26/03/2020 11:53:01 2 0
bbc
They're printing money again. The problem is less of inflation, but that the printed money always ends up chasing tangible assets, mostly property. In the mid term this fuels wealth imbalance, leading to a sense of disenfranchisement and then populism. One solution is taxing wealth e.g. LVT, however these are oddly unpopular.
74
26/03/2020 11:53:01 15 7
bbc
Where is the cash going to come from? Who cares ... as long as "I'm alright Jack". Exactly the same selfishness that drove Brexit. The burden will fall on future generations. Because no one today will vote for a party ... That asks them to pick up the bill. .
36
26/03/2020 11:35:42 16 2
bbc
If we don’t learn our lesson from this then there is no hope! Time for a change The Government need to restructure and ring fence tax and NI contributions to support and properly fund the NHS, Social Care and the Welfare State. We all need to pay our taxes, for far too long it has been seen as some sort of game by sections of society at all levels, how little can I pay in tax.
75
26/03/2020 11:53:21 4 0
bbc
36 sole survivor "We all need to pay our taxes, for far too long it has been seen as some sort of game by sections of society at all levels, how little can I pay in tax" I agree with the sentiment but you need to have work to pay tax and work is disappearing fast. As one contributor to this HYS pointed out, more people will die from the economic crisis than the coronavirus.
76
26/03/2020 11:53:32 10 3
bbc
Where is the cash going to come from? I can tell you where it won't come from. The likes of Rees Mogg with their offshore accounts.
77
26/03/2020 11:53:32 4 1
bbc
Looks like it will be 3 times the amount borrowed to prop up the banks in 2008/9 and the infamous "there's nothing left" note. This will probably result in another 10+ years of austerity at a time when we only just got out of the last one.
78
26/03/2020 11:54:12 7 6
bbc
A few people on here suggesting cancelling HS2. Whilst I have in the past been against such projects, when we return to normal it will be large infrastructure projects, as well as increased manufacturing, that drag us out of recession. There will be huge numbers of unemployed who can be hired. However, the last thing we need to do is to allow foreigners to build it.
87
26/03/2020 11:58:34 4 5
bbc
78 wildwood. It isnt the virus dragging us into recession, its manipulitive stockbrokers and hedge funds run by people who now control the tory govt. Obviously not Bojo. He's just a puppet.
79
26/03/2020 11:54:12 17 10
bbc
Agree with 58. With public finances shot it will be time to stop spending on vanity projects like HS2. We just won't have £200bn for it It will also be time to stop jingoistic, far-right vanity projects like Brexit that also cost hundreds of billions Pensions at £150bn a year no longer viable too. Especially when the young are currently sacrificing so much for the sake of Boomers' health
94
26/03/2020 12:00:55 5 7
bbc
79 The Stench of Rotten Kipper With public finances shot it will be time to stop spending on vanity projects like HS2. We just won't have £200bn for it It will also be time to stop jingoistic Brexit that also cost hundreds of billions Pensions at £150bn a year no longer viable Especially when the young are currently sacrificing so much for the sake of Boomers' health - Spot on. .
99
26/03/2020 12:05:07 7 4
bbc
@79 The Stench of Rotten Kipper "Especially when the young are currently sacrificing so much for the sake of Boomers' health " I've noticed you have a dig at "boomers" before. Tell me exactly what are the "young" sacrificing? I'd like to know because I have 3 young folk at home just now eating me out of house and home. This constant ageist s**t from some people is getting really old.
80
26/03/2020 11:54:32 9 8
bbc
Supporting the self employed is fine - but limit their support to the proportion of income tax that they have paid over the years in comparison to employed people. In my experience, the vast proportion of self employed pay little or no tax at all. Karma
83
26/03/2020 11:57:34 29 4
bbc
@80 "In my experience, the vast proportion of self employed pay little or no tax at all. " Then you need to get out more. I've been self employed for 25 years and in terms of Corporation Tax, VAT and Income Tax I've paid MORE than my fair share. Please don't tar us with the same brush as those who hide their wealth offshore or do "cash in hand" jobs.
92
26/03/2020 12:00:25 3 1
bbc
80. What complete nonsense, you clearly don't know what you're talking about
81
26/03/2020 11:55:02 1 1
bbc
Not from stock market, hedge funds or banks. Mmmm, what is the background of Tory ministers?
82
26/03/2020 11:56:03 55 5
bbc
If this doesn't make the Government re-think HS2, then nothing will. There's certainly no money for that in the immediate future.
80
26/03/2020 11:54:32 9 8
bbc
Supporting the self employed is fine - but limit their support to the proportion of income tax that they have paid over the years in comparison to employed people. In my experience, the vast proportion of self employed pay little or no tax at all. Karma
83
26/03/2020 11:57:34 29 4
bbc
@80 "In my experience, the vast proportion of self employed pay little or no tax at all. " Then you need to get out more. I've been self employed for 25 years and in terms of Corporation Tax, VAT and Income Tax I've paid MORE than my fair share. Please don't tar us with the same brush as those who hide their wealth offshore or do "cash in hand" jobs.
84
26/03/2020 11:49:04 3 0
bbc
At a macro, state level, 'money' doesn't have the same attributes. In effect they can do what they want & can make or 'disappear' it, simply by inserting figures into spreadsheets. It then either does, or doesn't exist. For the population, the natures of worth & value exist because both sides of the transaction endow it with the same value, so it appears valuable because the govt. guarantee it is.
85
26/03/2020 11:58:04 3 0
bbc
Take it from the profits the banks are trying to rake in from the public. in extortionate charges for government backed loans,From the gross pay of bankers and bbc hierarchies, and any of the many companies and individuals trying to profiteer from the suffering of people. And the assests of scammers.
16
26/03/2020 11:19:54 16 8
bbc
We are going to see something that will make the great depression look like a tea party. You have to question whether the lives saved will outweigh the suffering that the entire population will experience at the end of all this + the health impacts/costs associated with everyone staying home. It is a genuine worry
86
26/03/2020 11:58:34 10 0
bbc
@16 majorwedgy ... You have to question whether the lives saved will outweigh the suffering that the entire population will experience at the end of all this + the health impacts/costs associated with everyone staying home. ---- Perhaps you'd like to volunteer to lick up and breathe in all the virus particles for us then, and take a hit for the country?
78
26/03/2020 11:54:12 7 6
bbc
A few people on here suggesting cancelling HS2. Whilst I have in the past been against such projects, when we return to normal it will be large infrastructure projects, as well as increased manufacturing, that drag us out of recession. There will be huge numbers of unemployed who can be hired. However, the last thing we need to do is to allow foreigners to build it.
87
26/03/2020 11:58:34 4 5
bbc
78 wildwood. It isnt the virus dragging us into recession, its manipulitive stockbrokers and hedge funds run by people who now control the tory govt. Obviously not Bojo. He's just a puppet.
2
26/03/2020 11:10:52 96 17
bbc
'Where is the cash going to come from?' I know the answer to this one. It's 'Us'. As in the general public. We'll be paying it back for years. The bankers will do well enough though.
88
dan
26/03/2020 11:58:44 14 4
bbc
2. Posted byRoy G Bivon 45 minutes ago 'Where is the cash going to come from?' I know the answer to this one. It's 'Us'. As in the general public. We'll be paying it back for years. The bankers will do well enough though. -- And why shouldn't it be us? This spending is being used to protect US, no one else is going to pay it. Why do people think we should get something for nothing?
89
26/03/2020 11:59:04 6 1
bbc
HS2 should be cancelled immediately.
100
26/03/2020 12:05:38 9 1
bbc
89.bubpau HS2 should be cancelled immediately. -- But it wont be ... We'll be told it's investment like this ... Is exactly what's needed to drive Britain forward. By the time it's completed ... 2035? ... It'll be a massive empty 'white elephant'. Why? We all be driving our own electric cars by then. Trains? So 19th century ... so Brexit thinking. .
23
26/03/2020 11:23:36 7 3
bbc
Roy biv, the "bankers" are us too you know. Yes, we will all have to pay back via increased taxes, but those with the deepest pockets should be expected to contribute at the very least proportionately more, but preferably disproportionately more. I would be looking to vote for a party that assured this was the case and I would expect those fortunate enough to have so much to be happy to dig deeply
90
26/03/2020 11:59:25 3 2
bbc
23.Spark plug Yes, we will all have to pay back via increased taxes, but those with the deepest pockets should be expected to contribute at the very least proportionately more... erm that's called the income tax system (assuming its paid I agree) 20%, 40% and 45% 'luxury' spending also has VAT applied, you may have heard of this? Again ASSUMING they pay in UK, companies pay 19% corp tax
91
26/03/2020 11:59:25 4 3
bbc
Anybody who still thinks this is a temporary situation, and that there will be an immediate bounce back, is sadly very misguided. This is serious, long term damage to the economy - ironically, the very thing which Jeremy Corbyn was accused of risking. Total collapse of the financial system is the ultimate risk. Let's hope its worth it....
80
26/03/2020 11:54:32 9 8
bbc
Supporting the self employed is fine - but limit their support to the proportion of income tax that they have paid over the years in comparison to employed people. In my experience, the vast proportion of self employed pay little or no tax at all. Karma
92
26/03/2020 12:00:25 3 1
bbc
80. What complete nonsense, you clearly don't know what you're talking about
93
26/03/2020 12:00:35 1 1
bbc
British Empire. Empire that was running 1/3 of the world had made 1900 years worth of its current annual GDP from the lands that had conquered and exploited. Mr. Sunak must have walked into That Vault and said " Wow, that's all my ancestors wealth , I will give it back to the people" . So he did. Great man. Hopefully, the future PM of this country.
109
26/03/2020 12:12:51 4 0
bbc
@93 When the British Empire ended post ww2 you think we had vaults of cash? Think you need to check your history mate. Post WW2 we were heavily in debt to the Americans and only finished paying it start of this century. Fact check your drivel plz.
79
26/03/2020 11:54:12 17 10
bbc
Agree with 58. With public finances shot it will be time to stop spending on vanity projects like HS2. We just won't have £200bn for it It will also be time to stop jingoistic, far-right vanity projects like Brexit that also cost hundreds of billions Pensions at £150bn a year no longer viable too. Especially when the young are currently sacrificing so much for the sake of Boomers' health
94
26/03/2020 12:00:55 5 7
bbc
79 The Stench of Rotten Kipper With public finances shot it will be time to stop spending on vanity projects like HS2. We just won't have £200bn for it It will also be time to stop jingoistic Brexit that also cost hundreds of billions Pensions at £150bn a year no longer viable Especially when the young are currently sacrificing so much for the sake of Boomers' health - Spot on. .
15
26/03/2020 11:19:54 49 11
bbc
If they did nothing to help out you would all be complaining what other choice do they have not one of you has come up with that answer.
95
26/03/2020 12:01:56 3 6
bbc
@15 - 'If they did nothing to help out you would all be complaining what other choice do they have not one of you has come up with that answer.' Well, the answer would be to put the NHS in a much better position to start off with by not starving it of funding for the last decade. But that would require moving away from the 'small statism' that typifies our libertarian government.
102
26/03/2020 12:06:38 4 4
bbc
95 Roy G Biv What a crass comment. No country has a health service able to cope with a pandemic. The UKs health service is the 5th largest employer in the world (2m people) and the largest single item of public spending. Italy has a leading health service and can't cope. Don't trot out cliches.
96
Me
26/03/2020 11:59:46 4 1
bbc
Just read through 50 comments and not one with a clue of how to explain how the Government is managing its financing.
97
26/03/2020 12:03:57 2 1
bbc
Have we all got too used to cheap and now? The good ole days where never good when you were living through them, but hindsight is wonderful thing. I’m not sitting here with an orange face and a shredded wheat on my head screaming make Britain great again. But should we try and rebuild our economy by buying from the UK, be less reliant on services and support all our workers 1st?
98
26/03/2020 12:05:07 5 2
bbc
Sounds like Dominic "Get Death Done" Cummings is now telling the government that he's Dominic "Get Debt Done" Cummings Unfortunately it's the youngest in our society who'll be paying these debts for years to come Chuck in the biggest change to our global trading arrangements for 50 years at the end of this one and it all looks horrific Perhaps more cooperation and less isolation is needed
79
26/03/2020 11:54:12 17 10
bbc
Agree with 58. With public finances shot it will be time to stop spending on vanity projects like HS2. We just won't have £200bn for it It will also be time to stop jingoistic, far-right vanity projects like Brexit that also cost hundreds of billions Pensions at £150bn a year no longer viable too. Especially when the young are currently sacrificing so much for the sake of Boomers' health
99
26/03/2020 12:05:07 7 4
bbc
@79 The Stench of Rotten Kipper "Especially when the young are currently sacrificing so much for the sake of Boomers' health " I've noticed you have a dig at "boomers" before. Tell me exactly what are the "young" sacrificing? I'd like to know because I have 3 young folk at home just now eating me out of house and home. This constant ageist s**t from some people is getting really old.
89
26/03/2020 11:59:04 6 1
bbc
HS2 should be cancelled immediately.
100
26/03/2020 12:05:38 9 1
bbc
89.bubpau HS2 should be cancelled immediately. -- But it wont be ... We'll be told it's investment like this ... Is exactly what's needed to drive Britain forward. By the time it's completed ... 2035? ... It'll be a massive empty 'white elephant'. Why? We all be driving our own electric cars by then. Trains? So 19th century ... so Brexit thinking. .