Here we go...

[HawkingsHalfpint]

Furlough extended until March.

Hmmmm...

So... here’s how it could go. 

If your average salary is less than 30k*, you now get 80% of say 75% of that after tax. And that’s where everyone furloughed will stay until March, with no guarantee of a job after that. On a median salary 26k, government subsidy will be around £1,300/month. On full-time median £31k, it’s around £1,550 (not really fair to use the mean in this instance, as it is too skewed by high-earning staff whom are unlikely to have their expertise furloughed). 

Loads of jobs are going to go. But by then, many earning a decent salary will have spent 6 months approx. earning not much more than they would with a part-time job (16hrs min) and universal credit. Which is where I predict many will end up, when the UK government incentivises business to halve jobs to massage unemployment figures. As they have done for quite a while now (although in fairness they’re not alone). 

Meanwhile many of these people (or even their landlords if they rent) are likely to default. But millions can’t be made homeless at once. So, I wonder where the ownership of these houses might go now local authorities have budget control, and the banks couldn’t cope with a way softer crunch 12-13 years ago. 

Soft landing for the masses, or welcome to the new working class. An immigration gap at least provides some employment opportunities but what a terrible situation.

[Protheroe]

Furlough extended until March.

Hmmmm...

So... here’s how it could go. 

If your average salary is less than 30k*, you now get 80% of say 75% of that after tax. And that’s where everyone furloughed will stay until March, with no guarantee of a job after that. On a median salary 26k, government subsidy will be around £1,300/month. On full-time median £31k, it’s around £1,550 (not really fair to use the mean in this instance, as it is too skewed by high-earning staff whom are unlikely to have their expertise furloughed). 

Loads of jobs are going to go. But by then, many earning a decent salary will have spent 6 months approx. earning not much more than they would with a part-time job (16hrs min) and universal credit. Which is where I predict many will end up, when the UK government incentivises business to halve jobs to massage unemployment figures. As they have done for quite a while now (although in fairness they’re not alone). 

Meanwhile many of these people (or even their landlords if they rent) are likely to default. But millions can’t be made homeless at once. So, I wonder where the ownership of these houses might go now local authorities have budget control, and the banks couldn’t cope with a way softer crunch 12-13 years ago. 

Soft landing for the masses, or welcome to the new working class. An immigration gap at least provides some employment opportunities but what a terrible situation.

I'm busily building a new business for my kids to run, as by the time they've left school the outlook will be very bleak otherwise.

At just the time the country needs entrepreneurial spirit, most entrepreneurs will be sticking two fingers up after being roundly shafted by the State over the last 9 months.