Coronavirus - Part Two.

[nightrider]

4 hours ago, West 77 said:

Ed Balls  said yesterday it is going to take over 50 years to pay back the money borrowed to fund what has and is being spent because of Covid-19.  Furlough has been to generous in my opinion.

Who are we going to pay it back to?

[melthebell]

4 hours ago, West 77 said:

Furlough has been to generous in my opinion.

Really? im on my second furlough and im getting by.............just, i get 80% of my wage and it just about covers my bills (which i still have to pay), but at least i have a job to go back to, hopefully

[pattricia]

Now the golf courses are closed, I may be able to get a GP appointment.! 

[andyofborg]

2 hours ago, nightrider said:

Who are we going to pay it back to?

largely ourselves

[retep]

Looks like mink coats are off the Christmas list this year,

 

"Denmark announces cull of 15 million mink over Covid mutation fears"

https://www.theguardian.com/environment/2020/nov/04/denmark-announces-cull-of-15-million-mink-over-covid-mutation-fears

[nightrider]

1 hour ago, West 77 said:

To whoever holds the bonds they sell to raise the money.

 

 

and whom currently holds those bonds and how did they come by the money?

[andyofborg]

7 minutes ago, nightrider said:

and whom currently holds those bonds and how did they come by the money?

you would have to ask the debt management office in the treasury for a list of names. 

 

i presume they came by the money by the usual ways people end up with spare cash. 

 

of course, the bank of england will, if necessary, print a few more notes.

when the treasury pays the loan back the boe destroys the additional notes and gives the interest, less a bit to cover the costs of making all this work back to the treasury.

Edited November 6, 2020 by andyofborg

[tinfoilhat]

1 hour ago, West 77 said:

To whoever holds the bonds they sell to raise the money.

 

For all I know you could be living beyond your means, or have savings you don't want to use. I'm self employed and chose not to take advantage of any of the Government schemes because I don't live beyond my means and don't mind using my savings. I personally believe anyone who has received Covid benefits should pay it back in future tax payments. Alternatively they could do unpaid  community work in the future or work on fruit farms instead of taking holidays.

 

 

Awesome, I like this idea.

 

I'm assuming as I don't have kids I'll be getting a rebate for not having kids at school, I'm healthy so expect a rebate for health care costs (ill pay for my flu jab) I've never used. Not been a victim of crime so I'm probably owed a few quid there from police I've never used, in fact I've never used any of the emergency services. 

 

Any I've missed?

[El Cid]

1 hour ago, andyofborg said:

of course, the bank of england will, if necessary, print a few more notes.

when the treasury pays the loan back the boe destroys the additional notes and gives the interest, less a bit to cover the costs of making all this work back to the treasury.

https://www.thisismoney.co.uk/money/news/article-8917819/No-negative-rates-150bn-QE-means-UK-economy.html

 

Savers were spared the pain of negative interest rates by the Bank of England today, but it will ramp up quantitative easing by buying a further £150billion of UK government bonds.

[Pettytom]

8 hours ago, West 77 said:

Ed Balls  said yesterday it is going to take over 50 years to pay back the money borrowed to fund what has and is being spent because of Covid-19.  Furlough has been to generous in my opinion.

It’s cost about £2500 each so far to protect us from the worst of the virus and to keep some semblance of an economy going. I can’t believe that will take 50 years to pay back.

 

I know plenty of people who pay more than that for a holiday.