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09-07-2020, 10:14 PM
21

Re: Coronavirus: Public spending on crisis soars to £190bn

Originally Posted by AnnieS ->
There's only so much they can raise with taxation without crippling the economy further.
It’s a balancing act that I wouldn’t like. I gather that it might take quite a number of years to sort out.
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17-07-2020, 12:55 AM
22

Re: Coronavirus: Public spending on crisis soars to £190bn

£3bn for NHS to prepare for possible second wave

https://www.bbc.co.uk/news/uk-534384...eporting-story

The funding will also help ease winter pressures on the health service, Downing Street said.

It follows warnings a second wave this winter could see around 120,000 Covid-19 deaths in UK hospitals.
Downing Street said the funding would be available immediately and would allow the NHS to continue using additional private hospital capacity and maintain the temporary Nightingale hospitals until the end of March.

This will provide additional capacity for coronavirus patients, as well as allowing the NHS to carry out routine treatments and procedures.
Hugh Pym, Health Editor says:

In normal times an announcement of £3bn to help the NHS in England cope with winter pressures might look generous.

But these are not normal times as the government pumps tens of billions into the economy to soften the blows of the coronavirus crisis.
Indeed, billions more will have to be borrowed ......
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17-07-2020, 06:36 AM
23

Re: Coronavirus: Public spending on crisis soars to £190bn

Hi

The financial effects vary from country to country.

Those who locked down early and hard have suffered much less and their economies are much less affected.

We are forecast to be one of those most affected financially,
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21-07-2020, 02:49 PM
24

Re: Coronavirus: Public spending on crisis soars to £190bn

UK quarterly borrowing hits record high

https://www.bbc.co.uk/news/business-53482895

The UK government borrowed a record £127,900,000,000 between April and June as tackling the coronavirus pandemic took its toll on the public finances.

The figure - the difference between spending and tax income - was more than double the £55,400,000,000 borrowed in the whole of the previous tax year.

However, borrowing in June was lower than in May at £35,500,000,000.

The re-opening of more retailers and other firms saw a drop in furlough scheme spending and a rise in tax take.

Nevertheless, June's borrowing figure was still the third highest monthly total since records began in 1993 and about five times more than the same month last year.

The figure took total government debt to a record £1,980,000,000,000.
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21-07-2020, 03:15 PM
25

Re: Coronavirus: Public spending on crisis soars to £190bn

Originally Posted by AnnieS ->
There's only so much they can raise with taxation without crippling the economy further.
There's another thing that will have to be done - reduce the paying of Benefits that of course will reduce the standard of living for people in the UK.

That is something that should have been started some years ago but now there is no alternative. In short austerity in spades. Good.
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25-09-2020, 10:42 AM
26

Re: Coronavirus: Public spending on crisis soars to £190bn

UK borrowing soars in August as Covid costs mount

https://www.bbc.co.uk/news/business-54289160

The UK government borrowed £35.9bn in August as tackling the economic fallout of pandemic took its toll on the public finances, official figures show.

The figure - the difference between spending and tax income - was £30.5bn more than it borrowed in August last year.

The increase meant that the borrowing figure hit its highest amount for August since records began in 1993.


Borrowing between April and August totalled £173.7bn - also a record.
Where did the money go:
The government has been forced to cover a wide range coronavirus-related costs - from the furlough scheme and bailouts for rail firms to business rates holidays and VAT cuts for hospitality and tourism.

It has also set aside £500m to cover the cost of the "Eat Out to Help Out" scheme, where diners got a state-backed 50% discount on meals and soft drinks up to £10 each on Mondays, Tuesdays and Wednesdays in August.
What about government revenues:
The latest figures from the ONS show that while billions have been pumped into propping up the economy, tax receipts have dropped sharply.

The amount collected by central government in taxes dropped to £37.3bn in August, which is £7.5bn less than a year before.
The future:

Looking ahead, the ONS said that the chancellor was likely to borrow about £370bn in the 2020 financial year
.
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25-09-2020, 02:40 PM
27

Re: Coronavirus: Public spending on crisis soars to £190bn

Hi

It is a huge financial hit.

It is basically to protect us oldies, so we must take our share.
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25-09-2020, 02:45 PM
28

Re: Coronavirus: Public spending on crisis soars to £190bn

It's those who are carelessly spreading the virus who should take the hit. Most oldies are being careful.
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25-09-2020, 03:40 PM
29

Re: Coronavirus: Public spending on crisis soars to £190bn

Originally Posted by swimfeeders ->
Hi

It is a huge financial hit.

It is basically to protect us oldies, so we must take our share.
It's absolutely NOT to protect us "mature" types. In any case it is not being spread by us and was probably not introduced into the UK by anyone in our age group so bugger paying ANYTHING.
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25-09-2020, 04:00 PM
30

Re: Coronavirus: Public spending on crisis soars to £190bn

Originally Posted by AnnieS ->
It's those who are carelessly spreading the virus who should take the hit. Most oldies are being careful.
Indeed ..... The 18-35's going bonkers in the bars with all that huggin'n'kissin' .....
 
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