Re: Coronavirus: Public spending on crisis soars to £190bn
Originally Posted by
Vlad
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So you would have preferred they spent nothing?
No ..... but, as I said, I have been wondering about the cost of the government's borrowing.
For example, there are now 9,300,000 people on furlough, being paid up to £2500 pm. This has now been supplemented by the plan to pay employers £1,000 for every furloughed worker they retain past January, which could cost £9.4bn, bringing the cost of furlough to £100bn.
Billions of borrowed money are being spent like water with no idea of how long or how deep the pandemic and the associated recession will be.
It's probable that the UK debt will rise to £350bn and possible that it will rise to £500bn - a war-like debt to accompany the war-like number of civilian dead that the government allowed to happen.