| Economic Fallout of all this 07:45 - May 13 with 857 views | BillyBrag |
Whilst many people are enjoying being at home, on 80% (from the Govt) and probably expect this to continue as they push back against returning to work
the economic fallout of this is starting to materialise.
5% drop in GDP in 1st quarter (up to Mar 20). That is the biggest drop since Oct 2008.
Look at the state of everything there after.
all sorts of economic commentators are saying that 5% is a drop in the ocean compared to what is expected in the next quarter. Essentially, 20% drop in GDP will be viewed as a Massive result!!!
Ultimately, we will all have to pay for this! |  | | |  |
| Economic Fallout of all this on 09:00 - May 13 with 810 views | Heisenberg |
As long as it is all. Remember we are all this together. If the poorest bear the brunt again I'm not sure people will accept it this time. |  |
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| Economic Fallout of all this on 09:11 - May 13 with 802 views | arfurdent |
| Economic Fallout of all this on 09:00 - May 13 by Heisenberg |
As long as it is all. Remember we are all this together. If the poorest bear the brunt again I'm not sure people will accept it this time. |
is that not what The Establishment keep the poor around for? |  |
| And the White Knight is talking backwards
And the Red Queen's off with her head |
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| Economic Fallout of all this on 09:45 - May 13 with 770 views | MytchettSaint |
Or, an alternative view could be...
Why should it be all? What about if you’ve worked through all this and haven’t claimed a bean? Surely if you have received it, it is down to you to pay it back?
That’s got to be the fairest way? |  |
| Block 13; Curva Itchen Sud |
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| Economic Fallout of all this on 10:21 - May 13 with 752 views | RednWight |
| Economic Fallout of all this on 09:45 - May 13 by MytchettSaint |
Or, an alternative view could be...
Why should it be all? What about if you’ve worked through all this and haven’t claimed a bean? Surely if you have received it, it is down to you to pay it back?
That’s got to be the fairest way? |
On that basis it should be backdated and the royal family can pay all [Post edited 13 May 2020 10:36]
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| Economic Fallout of all this on 10:42 - May 13 with 733 views | MytchettSaint |
| Economic Fallout of all this on 10:21 - May 13 by RednWight |
On that basis it should be backdated and the royal family can pay all [Post edited 13 May 2020 10:36]
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Being a republican that’s an idea I’m open to..
For everyone that is furloughed there are lots being made redundant, many of those will be on low to modest incomes..I doubt that they will be entitled to anything like 80% of what they were earning so when the bill has to be paid and the economy is up and running with people returning to jobs I bet they will be scratching their heads asking how it’s fair they’re being asked to pay for it as well... | |
| Block 13; Curva Itchen Sud |
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| Economic Fallout of all this on 10:57 - May 13 with 721 views | Sadoldgit |
| Economic Fallout of all this on 09:45 - May 13 by MytchettSaint |
Or, an alternative view could be...
Why should it be all? What about if you’ve worked through all this and haven’t claimed a bean? Surely if you have received it, it is down to you to pay it back?
That’s got to be the fairest way? |
My wife has worked all the way through this (from home) but is the only one in her company apart from the owner. At least she is on full wages but her colleagues have been paid 80% of their wages for doing nothing. I used to work part time and am a pensioner. My money stopped completely and the HMRC have just started applying tax to my pension as I am self employed, so not only am I not getting my part time wage but I am also now taxed on my pension. We are not entitled to claim a penny and will, no doubt, have to pay higher taxes when this is all over. C’est la vie! Bottom line, we will have much less disposable income so will not be able participate as well in the rebuilding of the economy. |  | | |
| Economic Fallout of all this on 15:17 - May 13 with 655 views | Occasional_Showers |
I’ve just been to the garden centre and got some bedding plants, a rose Bush, and a glorious hanging basket, all thanks to the furlough scheme.  |  |
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| Economic Fallout of all this on 16:12 - May 13 with 623 views | cocklebreath |
| Economic Fallout of all this on 15:17 - May 13 by Occasional_Showers |
I’ve just been to the garden centre and got some bedding plants, a rose Bush, and a glorious hanging basket, all thanks to the furlough scheme. |
Such a d!ck |  |
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| Economic Fallout of all this on 16:55 - May 13 with 600 views | Bazza |
| Economic Fallout of all this on 10:57 - May 13 by Sadoldgit |
My wife has worked all the way through this (from home) but is the only one in her company apart from the owner. At least she is on full wages but her colleagues have been paid 80% of their wages for doing nothing. I used to work part time and am a pensioner. My money stopped completely and the HMRC have just started applying tax to my pension as I am self employed, so not only am I not getting my part time wage but I am also now taxed on my pension. We are not entitled to claim a penny and will, no doubt, have to pay higher taxes when this is all over. C’est la vie! Bottom line, we will have much less disposable income so will not be able participate as well in the rebuilding of the economy. |
Soggy, I'm sure it's annoying that you are now having to pay tax because, as you say, you're self-employed and also on your pension.
Apologies if you already know but in case you don't know about tax and pensions; everyone earning a total more than the personal allowance (£12500) pays tax on the amount over, whether it's from employment, self employed earnings or pension income. State pension is always paid gross but added to the total and so is then subject to tax, private/company pensions are taxed before you receive them. If you are paying too much tax you can claim it back through the HMRC self assessment process which you need to do as self employed. I have had tax rebates a few times. Of course some people get cash in hand and don't report it. | | | |
| Economic Fallout of all this on 18:26 - May 13 with 554 views | Sadoldgit |
| Economic Fallout of all this on 16:55 - May 13 by Bazza |
Soggy, I'm sure it's annoying that you are now having to pay tax because, as you say, you're self-employed and also on your pension.
Apologies if you already know but in case you don't know about tax and pensions; everyone earning a total more than the personal allowance (£12500) pays tax on the amount over, whether it's from employment, self employed earnings or pension income. State pension is always paid gross but added to the total and so is then subject to tax, private/company pensions are taxed before you receive them. If you are paying too much tax you can claim it back through the HMRC self assessment process which you need to do as self employed. I have had tax rebates a few times. Of course some people get cash in hand and don't report it. |
I knew that I would have to start paying tax Bazza but I thought that would be after I filled in the first return after becoming self employed. It was the timing that floored me. I got a letter from my pension company not long after being told our business was closing with the lockdown so a double whammy. Still not heard officially from HMRC. The upside is that our outgoings have gone down so that helps a bit. Happy days! | | | |
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