Furlough payments

the_holgate_roof

Well-known member
How long can these furlough payments, job support scheme payments continue, the country is in crippling debt, paying people for jobs that may no longer exist?? I understand the responsibility by the government with them forcing places to close but what is the end game?
 
How long can these furlough payments, job support scheme payments continue, the country is in crippling debt, paying people for jobs that may no longer exist?? I understand the responsibility by the government with them forcing places to close but what is the end game?
The whole world will be in a similar position (except China!). The world monetary system will compensate accordingly . . . .
 
Not in crippling debt as interest rates are very low if not minus and thus borrowing at the moment is cheaper than ever! As bear says the world is gripped by the same problems and so no one can win too much.
 
The other option of course is we don't support people through the crisis and expect everyone to pay their mortgages and run their businesses on benefits which won't happen. Those jobs would exist if we hadnt told people they couldnt go to nightclubs or not to go into shops and restaurants, but we have so its right that we support these industries
 
It's a shame some tapering wasn't provided to protect those on minimum wage who will struggle with the new payment scheme.
 
Any support is good but It’s just delaying the inevitable imo. Unemployment, pay cuts and tax rises will make a lot of these hospitality jobs unviable long after Covid has gone. Paying a fiver for a pint and a tenner for a plate of pasta will be the last thing I do for the next few years with my pay cut. Covid and the prospect of losing my job has made me more determined to save my money, put it into my pension or invest it rather than spend it on luxuries. Lucky to keep a job that up until this year I thought I would have for life, now I realise I can’t always depend upon it and need to be more frugal. Tough times coming up for a lot of people.
 
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The other side of it is that once a vaccine arrives which everyone agrees will happen just not the exact timing, there will be a surge in spending. It’ll start from the top down because those at the top have greater reserves but it will filter through and the bigger the kick the quicker it’ll happen. As long as the BOE don’t rush to put interest rates up there can be a Shorter period of balancing because this wasn’t caused by bad debt or overspending.

I know that’s optimistic but it still stands, at the beginning of this when the expectation was a 6-12 month slow down the message was all about a financial blip - it’s a bigger blip but not a death knell
 
Is this new Sunak initiative ONLY for employees who work for companies that cannot open (e.g. nightclubs) rather than employees that were previously on Furlough?
 
The whole world will be in a similar position (except China!). The world monetary system will compensate accordingly . . . .

I see the reckoning but most countries in the world have not introduced "furlough" for employees surely.
 
I see the reckoning but most countries in the world have not introduced "furlough" for employees surely.
Believe France and Germany have a similar scheme in place until 2022.

Sounds like one big UBI experiment.
 
Most jobs that had furlough and all jobs on the new scheme should be ones that should return when this is over. Only other option was people just going to work anyway when it wasnt safe or mass unemployment on a scale we have never seen, and the impacts of this would likely cost more in the long run anyway
 
Most jobs that had furlough and all jobs on the new scheme should be ones that should return when this is over. Only other option was people just going to work anyway when it wasnt safe or mass unemployment on a scale we have never seen, and the impacts of this would likely cost more in the long run anyway
Which isn’t scientific to judge. Sadly there will be an awful lot of redundancies announced in the next few weeks when the original furlough comes to an end.
 
Which isn’t scientific to judge. Sadly there will be an awful lot of redundancies announced in the next few weeks when the original furlough comes to an end.

True, but without furlough this number would have been significantly higher
 
Do employers who are forced to close still have to pay their staffs NI and tax on the new furlough scheme?

Also holiday entitlement?
 
Do employers who are forced to close still have to pay their staffs NI and tax on the new furlough scheme?

Also holiday entitlement?
Yep.
It's going to change again this week. Leaders are meeting this afternoon with cabinet ministers to tell them this furlough package isn't enough. Mayor's of Manchester and Liverpool both saying that it needs to be 80%, also considering a legal challenge if they don't get the support they want. Also calling on a vote on measures in parliament and support from Northern Tory MP's and Labour MP's.
 
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