PM Boris Johnson says bars, pubs, restaurants will close on Friday evening : Do not go out tonight : Wage help

[Murdoch]

Labour actually wanted the gov to pay 90%

Earlier I heard McConnell talk about the opportunity to attempt Universal Basic Income. Point is how do you run the economy, when a vast amount of the population isn't needed for work... That's actually what Universal basic income is designed to fix, but the thinking was that automation would make droves of people unemployed, not that a virus would shut down most economic activity.

I'll reiterate, the idea that we can shut everything down and let the free market sort out the mess, is obviously for the birds. We can't let people go destitute because of a virus.

But this most recent policy announcement, has some deeply flawed thinking behind it. This won't just be 3 months, it could be 12 to 18 months before a vaccine.

[aiden01]

Labour actually wanted the gov to pay 90%

Earlier I heard McConnell talk about the opportunity to attempt Universal Basic Income. Point is how do you run the economy, when a vast amount of the population isn't needed for work... That's actually what Universal basic income is designed to fix, but the thinking was that automation would make droves of people unemployed, not that a virus would shut down most economic activity.

I'll reiterate, the idea that we can shut everything down and let the free market sort out the mess, is obviously for the birds. We can't let people go destitute because of a virus.

But this most recent policy announcement, has some deeply flawed thinking behind it. This won't just be 3 months, it could be 12 to 18 months before a vaccine.

Was just pointing out labour actually wanted the gov to pay 90%.

[Murdoch]

Was just pointing out labour actually wanted the gov to pay 90%.

I know, I was just engaging with some other policy ideas I'd heard come from Labour. About how to deal with the collapsing economy.

[Tman]

https://www.bbc.co.uk/news/live/world-51969508

The measures will be considered as time goes on, Boris Johnson says. But he stresses people should not go out tonight to such venues.

"We want you to stay at home to protect the NHS and save lives," he adds.

Me Johnson said it seemed to go against the freedom-loving instincts of British people but "we will get through this - we will get through it together and beat this virus".

The government will pay 80% of wages for employees not working, up to £2,500 a month, the chancellor says.

Updates at the link

So let me get this straight... loads of people will get paid to sit at home for the next 3 months... while we have to work our asses off out in public, receive sweet f**k all, and then once this all blows over. RM will come in and make a bunch of us redundant. And there's literally no incentive now for all those people that would have been made unemployed to go work in any of the industries that will be keeping the country going...
You could not create a more broken policy... Idiotic.
I expected this Tory government to f**k things up beyond believe... I just didn't foresee it would be like this...

Hmmm I'd rather people were given financial help and didn't lose their homes, and starve to death, personally.

So would the vast majority of people I would think. I reckon Murdoch is attempting to score some sort of political point.

[Murdoch]

So would the vast majority of people I would think. I reckon Murdoch is attempting to score some sort of political point.

I have no political points to score to be honest. Labour and the Tories are equally inept.

I think it's deeply flawed to implement the most extreme socialist policy you could think of, and pay wages at the rate of 80% of market value (up to £2500 a month) only to certain people & for them to be incentivised to sit at home. When that current market value is zero, and could be for 12 to 18 months. When they could be incentivised to do something useful instead.

There are more fair ways, and more effective ways to pump money into the system, to avoid a depression.

[aiden01]

So would the vast majority of people I would think. I reckon Murdoch is attempting to score some sort of political point.

I have no political points to score to be honest. Labour and the Tories are equally inept.

I think it's deeply flawed to implement the most extreme socialist policy you could think of, and pay wages at the rate of 80% of market value (up to £2500 a month) only to certain people & for them to be incentivised to sit at home. When that current market value is zero, and could be for 12 to 18 months. When they could be incentivised to do something useful instead.

There are more fair ways, and more effective ways to pump money into the system, to avoid a depression.

Tell us all then your great strategy

[Murdoch]

Tell us all then your great strategy

Well firstly, I wouldn't pretend this is a problem that will be fixed in a 12 week period, as Johnson keeps on telling us. When the scientists are saying we're in this for 12-18 months.

Personally, i would freeze all rents and mortgages (subsidise the rents where needed). I would offer a Universal basic income (UBI) equivalent to state pension for 1 year initially. And allow people from the industries that are to be closed (or can't function) to be laid off or sacked as normal, but allow them to work wherever they could, to top up the UBI. If people are overleveraged with debt for things like cars, credit cards, and other luxuries, then there should possibly be a repayment holiday on those (but interest should still accrue, perhaps set at a mandated lower level).

Regardless of what we do, this is going to raise UK debt levels by a huge amount. Clearly I don't disagree with the need for increased borrowing, and yet more quantitative easing because they are some of the few tools we have to get the economy through a recession. Every western country will be forced to do this, so the capital flight and lack of confidence needed for a major country to hyper-inflate might not happen (but it's a risk).

[aiden01]

Tell us all then your great strategy

Well firstly, I wouldn't pretend this is a problem that will be fixed in a 12 week period, as Johnson keeps on telling us. When the scientists are saying we're in this for 12-18 months.

Personally, i would freeze all rents and mortgages (subsidise the rents where needed). I would offer a Universal basic income (UBI) equivalent to state pension for 1 year initially. And allow people from the industries that are to be closed (or can't function) to be laid off or sacked as normal, but allow them to work wherever they could, to top up the UBI. If people are overleveraged with debt for things like cars, credit cards, and other luxuries, then there should possibly be a repayment holiday on those (but interest should still accrue, perhaps set at a mandated lower level).

Regardless of what we do, this is going to raise UK debt levels by a huge amount. Clearly I don't disagree with the need for increased borrowing, and yet more quantitative easing because they are some of the few tools we have to get the economy through a recession. Every western country will be forced to do this, so the capital flight and lack of confidence needed for a major country to hyper-inflate might not happen (but it's a risk).

All i can say is good luck with your policies maybe should be a politican than a postie.

[PostmanBitesDog]

It never ceases to amaze me how Bollocks Johnson and Donald Trump are so much alike. Like two peas in a padded cell.

'Confused, Dangerous, Flippant': Rest of World Pans PM's Handling of Coronavirus
Boris Johnson’s breezy and contradictory declarations, similar to those on Brexit, have observers wincing
https://www.theguardian.com/world/2020/ ... is-johnson

The international verdict on Boris Johnson and his zigzag handling of the pandemic has been damning, with responses ranging from bafflement and disbelief to anger. Many consider the prime minister’s initial laissez-faire approach to the crisis, followed by contradictory signals about his government’s strategy, as an inexplicable bout of British exceptionalism.
“Boris Johnson had gone out publicly and essentially asked Britons... to accept death,” said the Greek newspaper Ethnos. It declared him “more dangerous than coronavirus.”
On Sunday, Singapore’s national development minister, Lawrence Wong, said the UK and Switzerland had “abandoned any measure to contain or restrain the virus.” The New York Times accused Johnson of sowing confusion. “He has seemed like a leader acting under duress... playing catch-up to a private sector that had already acted on its own.”
Politicians, scientists and commentators greeted the prime minister’s U-turn on Monday night, when he ordered a UK-wide lockdown, as a belated but welcome decision to join the rest of Europe, and much of the world, in a necessary strategy.

The mystery is why it took so long.