The government is paying these wages directly to the employer it seems in order to allow businesses to keep people on.
Wouldn't that come under business and so they'd apply for the business grants?
I don't think so, it seems you have to have a rateable premises to qualify, and that rules out a whole swath of the smaller self employed businesses if that is right (maybe not?), I'm not saying all can't work, but many won't be able to, or will have their incomes decimated very quickly, it seems like a gaping hole in the workforce has been overlooked for now.
The economy is fecked whatever they do. If people can’t afford to live and people start going bankrupt and losing their homes en masse, it’s going to be fecked even quicker, plus there would be a massive crime surge and you could forget about sensible social distancing to actually stop the virus spreading.
Lacks the detailed info though
But you've all got your money stashed away under the floorboards so you don't have to pay tax, right?
Just move to the US and possibly get a one time $1,000 payout.
Shut down the economy for 2-3 months with people losing their jobs and homes en masse and how exactly is the economy supposed to get going again when it opens up? People need money in their pocket once the shutdown is over to get the economy going again. The government has be moved by necessity here and nothing else.
Isn't that exactly what Kentonio is saying to the other poster? 80% wage contribution to workers that have been furloughed, cash grants to SMEs, deterred VAT and business rate payments etc; it's all designed to keep cash moving.
You dont sack anyone thats the point. You temporarily close your business and keep paying your employees 80 percent of their salary up to 2500 per month.
Presumably you'll furlough them for 2/3 months and pay them 2.5k via the government subsidiary, and top that up to fill wage if you can afford it.
I'm fairly confident they'll announce something next week.
Should base it on the average of their jan and feb pay cheques then apply the 80 percent and 2.5k limit to that or something.
They dont lay them off. They are furlonged, ie as soon as this is over they come back to work for the business. Its to stop businesses laying staff off.
Yep that's the issue I face. I'm going to have to have a word with my accountant monday morning and see what we can do or I'm royally fecked as those business loans aren't for me either.
How would you even begin to calculate zero hour contracts and what people should be paid? Bearing in mind I’ve seen so many zero hours be paid cash in hand which is illegal anyway, so no proof of what they’ve been earning?
Given a lot of them will be immediately having to apply for benefits what you can do is raise UC to a level where people can afford both rent and food or you can freeze the rents.
I'm in same position as you guys. Can't see any money coming in for the next 3 months at least.
They offered more help to people on uc renting. I didnt actually read that part of the publication but im fairly certain he mentioned something yesterday about that
It's feck all.
If they give it out and we end up spending it, will it eventually not work its way back into the system via tax and vat etc anyway?
Possibly, I’m no economist so perhaps someone else can answer better!
As i said i didnt read it. I thought they might have been paying a certain percentage of the rent or something
Me either
