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UK government initiatives and the recession


Cosmicblue
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Wondering if it's just me or have I missed something fundamental.

The government is trying to kick-start the economy whilst a whole bunch of people are still on furlough, with the end of October rushing towards us and the end of the scheme will likely see many thousands of companies finding the cost model they have won't support the number of employees  with the result that there will be even more redundancies.  The eating out initiative is a great idea, helping an industry sector that needs it.

The suspension of housing stamp duty for 6 months is a great idea and the appearance of 'For Sale' boards that seem  to be rapidly replaced by 'Sold' signs is encouraging.   The financial lenders however have tightened the rules considerably, fearing the house prices will fall in the next 12 months plunging many into negative equity so seeking large deposits to compensate.

The house market mini-boom makes me wonder if there are large swathes of society that haven't figured out that we are plunging into a brutal recession that will likely see a couple of million people out of work and struggling to keep a roof over their heads.

I haven't missed anything have I? 

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What we are seeing is the rearranging of the deckchairs as the ship slowly, but surely, sinks.

I can't for the life of me work out if these politicians are so inept that they can't see it coming, or if its some psychological trick, appearing to have initiatives to get us back on track, so the inevitable fear and panic is pushed a little further down the road. 

Worrying times ahead for the majority.

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4 minutes ago, treetree said:

What we are seeing is the rearranging of the deckchairs as the ship slowly, but surely, sinks.

I can't for the life of me work out if these politicians are so inept that they can't see it coming, or if its some psychological trick, appearing to have initiatives to get us back on track, so the inevitable fear and panic is pushed a little further down the road. 

Worrying times ahead for the majority.


Is the ship sinking? Or has it just blown an engine and is limping along until it gets back into port and things are repaired? 
 

Whatever happens, given time, we will recover. We have to. The world doesn’t just stop. 

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I don't mean to be overly pessimistic, but how do things get repaired in this situation? The Gov has borrowed incomprehensible sums of money to pay healthy people to sit at home doing nothing, plus various other initiatives. Unemployment, and associated costs, is about to go through the roof. Individual debt (even excluding mortgages) was already at unsustainable levels with many about to realised they can't service it.

I can see the printing presses being fired up, so if you have worked hard to put some savings together, wave goodbye to whatever you thought that was going to buy you.

I hate to be so pessmistic writing this, and I hope I am wrong, but I can't see any other outcome. I hope someone is along soon to correct me!

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The stamp duty policy is a nonsense simply pushing prices and reducing receipts. Better to put the money into social housing. The recession is making mortgages harder to get and larger deposits required. The saviour will be inflation eating into debt both for those with a mortgage and for the government. I remember the spending proposals from Corbyn being laughed out of court on here and now we have Boris spending many more times the amount.

I know some firms that will make super profits this year as a result of furlough paying wages and the furlough bonus yet to come. It's the price to be paid for policy made on the hoof. 

9 minutes ago, treetree said:

I can see the printing presses being fired up, so if you have worked hard to put some savings together, wave goodbye to whatever you thought that was going to buy you.

I hate to be so pessmistic writing this, and I hope I am wrong, but I can't see any other outcome. I hope someone is along soon to correct me!

Get rid of the cash and buy some assets?

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29 minutes ago, oowee said:

 

Get rid of the cash and buy some assets?

I think it's that or watch inflation and a one off 'Covid tax' eat away at your savings. Any ideas what though?

Even buy-to-let has got me a bit spooked; if significant numbers of renters say "lost my job, cant pay the rent, got no where to go so staying put" then I'm not sure what could be done. There are enough organised anarchist groups out there encouraging this.

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The best way for the government to refill the coffers is to just take half of everyone's savings . It might annoy a few millionaires and billionaires,  but they'd still be richer than the rest of us so they'd soon get over it . Another good idea would be to take houses from the owners of multiple properties,  the government could then gain extra income from renting out those properties at a low rate to unemployed people  👌.

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5 minutes ago, mel b3 said:

The best way for the government to refill the coffers is to just take half of everyone's savings . It might annoy a few millionaires and billionaires,  but they'd still be richer than the rest of us so they'd soon get over it . Another good idea would be to take houses from the owners of multiple properties,  the government could then gain extra income from renting out those properties at a low rate to unemployed people  👌.

You forgot to add a 😂.

If Boris wanted to permanently commit electoral suicide he could certainly alienate his wealthy backers and those not so wealthy, but prudent, pensioners who have tucked away a few quid and might have a rental that helps the pension, and still vote Conservative

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2 minutes ago, amateur said:

You forgot to add a 😂.

If Boris wanted to permanently commit electoral suicide he could certainly alienate his wealthy backers and those not so wealthy, but prudent, pensioners who have tucked away a few quid and might have a rental that helps the pension, and still vote Conservative

and also those that are relying on their savings to cover the pension shortfall from when that robbing Scots B took a big chunk of their funds in the last "Windfall Tax":mad::big_boss:

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1 minute ago, amateur said:

You forgot to add a 😂.

If Boris wanted to permanently commit electoral suicide he could certainly alienate his wealthy backers and those not so wealthy, but prudent, pensioners who have tucked away a few quid and might have a rental that helps the pension, and still vote Conservative

Sssshhh. I'm waiting for the screaming to start 😅😅😅.

Another good earner for the government would be to claim the estate of anyone that dies , the dead person won't be needing it , and let's be honest  , plenty of oldies have already taken off the covid runway , and if the government is to be believed , plenty more will be heading that way this winter . If the oldie leaves a husband or wife behind ,the powers that be could just whip them off to an OAP home , that would soon see them on their way.👌.

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As I have said previously, those that have benefited from furlough or the self employed one should pay it back - along with the companies, like student loans - what is it now 5 months? maximum 12.5k... equal split - extra penny or two on both sides of the NIC for each employee that benefited over 10 years and then written off - I got slated last time so I have put my helmet on this time :D

 

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3 minutes ago, mel b3 said:

Sssshhh. I'm waiting for the screaming to start 😅😅😅.

Another good earner for the government would be to claim the estate of anyone that dies , the dead person won't be needing it , and let's be honest  , plenty of oldies have already taken off the covid runway , and if the government is to be believed , plenty more will be heading that way this winter . If the oldie leaves a husband or wife behind ,the powers that be could just whip them off to an OAP home , that would soon see them on their way.👌.

Ah, but there is a flaw in your plan. The government already ensure that when (if) you end up in a home you forfeit your house anyway, until you are down to your small change

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5 minutes ago, mel b3 said:

Sssshhh. I'm waiting for the screaming to start 😅😅😅.

Another good earner for the government would be to claim the estate of anyone that dies , the dead person won't be needing it , and let's be honest  , plenty of oldies have already taken off the covid runway , and if the government is to be believed , plenty more will be heading that way this winter . If the oldie leaves a husband or wife behind ,the powers that be could just whip them off to an OAP home , that would soon see them on their way.👌.

Are you standing for parliament in the next general election 😊👍

best way to help the economy is reducing the pension age to 60 then all the younger people would be able to get jobs 

 

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1 hour ago, treetree said:

I think it's that or watch inflation and a one off 'Covid tax' eat away at your savings. Any ideas what though?

Even buy-to-let has got me a bit spooked; if significant numbers of renters say "lost my job, cant pay the rent, got no where to go so staying put" then I'm not sure what could be done. There are enough organised anarchist groups out there encouraging this.

Organised anarchist groups and Mel b3. 
 

fruit loops all of them. 

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40 minutes ago, amateur said:

Ah, but there is a flaw in your plan. The government already ensure that when (if) you end up in a home you forfeit your house anyway, until you are down to your small change

You're spot on . I said it with my tongue firmly in my cheek , without realising that it's already sort of happening 😕

36 minutes ago, Old farrier said:

Are you standing for parliament in the next general election 😊👍

best way to help the economy is reducing the pension age to 60 then all the younger people would be able to get jobs 

 

If that old loon trump can do it , then I can do it 😅.

22 minutes ago, AVB said:

Organised anarchist groups and Mel b3. 
 

fruit loops all of them. 

You're just so jealous that I have all the best ideas 😆.

I shouldn't joke about it all really , I'm one of the folks that will either be losing my job , or taking a massive pay cut . I'm also a fat lump with high blood pressure that will probably peg out if I get covid 😊.

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13 minutes ago, mel b3 said:

You're spot on . I said it with my tongue firmly in my cheek , without realising that it's already sort of happening 😕

Not "sort of happening" it IS ruddy happening.

Property, savings, forget them if you have to go into the care home system.

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1 hour ago, mel b3 said:

The best way for the government to refill the coffers is to just take half of everyone's savings . 

That is precisely what the Cypriot government did a few years back when the banking crisis smashed the Greek/Cypriot islands.

Anyone who had over €100,000 in savings was allowed to keep 100k, any cash above was taken. It was applied across all banks bar Bank of Cyprus. Guess what bank the politicians were using?

People were flying out of the island with bags of cash. The owner of the local shopping mall was caught with his family flying to Ireland with 8million euros in cash in luggage.

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2 hours ago, mel b3 said:

The best way for the government to refill the coffers is to just take half of everyone's savings . It might annoy a few millionaires and billionaires,  but they'd still be richer than the rest of us so they'd soon get over it . Another good idea would be to take houses from the owners of multiple properties,  the government could then gain extra income from renting out those properties at a low rate to unemployed people  👌.


Your delusional if you think that would happen. 
 

 

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7 minutes ago, mel b3 said:

Why am I delusional ?, it would also be a fantastic way to end the housing crisis 👍.

Fishing 🎣 

35 minutes ago, Taileron said:

That is precisely what the Cypriot government did a few years back when the banking crisis smashed the Greek/Cypriot islands.

Anyone who had over €100,000 in savings was allowed to keep 100k, any cash above was taken. It was applied across all banks bar Bank of Cyprus. Guess what bank the politicians were using?

People were flying out of the island with bags of cash. The owner of the local shopping mall was caught with his family flying to Ireland with 8million euros in cash in luggage.


 

Didn’t a load of Russians stashing their dodgy money there also get caught out. 
 

Look at them now ... wonder how many people with money are willing to invest there? 

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13 hours ago, Lloyd90 said:

Fishing 🎣 


 

Didn’t a load of Russians stashing their dodgy money there also get caught out. 
 

Look at them now ... wonder how many people with money are willing to invest there? 

Mate, the amount of dodgy Russians over there is quite astonishing. When I left (2018) the government was still giving EU passports out to anyone who invested €250,000 into the country, that included housing. They then had free access into all EU countries and just abandoned these massive houses. Paphos is littered with them, all falling into decay. You frequently see overweight 45-60 year olds covered in gang tatts with an 18 year old on their arms. I doesn’t take a genius to work out their line of business, the authorities just turned a blind eye and kept taking the money. When you live there you see precisely how dodgy the place is and combined with a corrupt incompetent police force the Russians must have thought they had landed in gangsters heaven.

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7 minutes ago, Taileron said:

Mate, the amount of dodgy Russians over there is quite astonishing. When I left (2018) the government was still giving EU passports out to anyone who invested €250,000 into the country, that included housing. They then had free access into all EU countries and just abandoned these massive houses. Paphos is littered with them, all falling into decay. You frequently see overweight 45-60 year olds covered in gang tatts with an 18 year old on their arms. I doesn’t take a genius to work out their line of business, the authorities just turned a blind eye and kept taking the money. When you live there you see precisely how dodgy the place is and combined with a corrupt incompetent police force the Russians must have thought they had landed in gangsters heaven.

I was posted in Cyprus 92-95 and have been back a lot of times and have witnessed the creep ourselves. They (the Ruski's) were also quite good at getting the Cypriot business men to fall hook line and sinker for russian girls to get their hooks into the economy there. I can remember being in a fish taverna by the damn outside of Limassol when a stretch limo pulled up and a load of girls got out with the pimp. We stayed in a Villa above Pissouri village for the last 5 times we have been and it was surprising how many of them were empty year after year which tallies with what you say. 

I did hear of a few people who were caught in the cash grab who were partway through selling/buying and became homeless 

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