Who Pays

[malagabob]

When this is all over who pays for the bill. A prog I watched, a presenter said our great grandchildren will still be paying towards the bill.
Will our old friends the EU help our debt.

[emmie]

we will eventually, probably via higher taxes.

[Theland]

Doubt it. Every man for himself.

[emmie]

why should the EU help us out seeing we aren't part of them any more.

[MartinMillar]

Why should the EU help?

[fiction-factory]

The EU will have their own debt. As will America and everywhere else. They don't owe each other -they owe us and the future generations.
I think people will accept having to pay quite a bit more tax after all this for some time and some previously planned expenditure may no longer seem that important.

[emmie]

i wouldn't want any help from the EU, it would seem two faced to be honest.

[Spicerack]

Young people will bear the brunt of this. Can't be helped but they already hate boomers who they think have had the life of Riley at their expense.
Don't vote for assisted dying.

[emmie]

we want to get through this first, before worrying about who pays...

[barry1010]

There will be a boom after this, you'll see. Retail and manufacturing will be at a high as will leisure spending. Some companies will go bust but that will leave openings for new companies.

[10ClarionSt]

We will be paying for generations. We've already had a thread on this anyway. Last week.
Govt action on the CV-19 was to panic and tell everyone to stay home, under the bedclothes, when they should have put all their efforts into concentrating on the most vulnerable. The effect of the govt action on this will cause lots more harm to the country than the virus will. Yous is gonna pay! Forever!

[CrapAtCryptics]

Its nothing new, we are still paying for WW2 I believe, expenditures of this extent are unpredictable.

[douglas9401]

There seems to be a little less harmony across the EU, their proposed trillion ooro fund to deal with the crisis will not be shouldered by the wealthier members according to a snippet I heard on Today a while ago.

[Theland]

The government could have a jubilee on debt and cancel it, after all, it's only money printed out of thin air, exchanged for government bonds printed out of thin air.
The only squeals of consternation would come from the billionaires who always profit from misery.

[Old_Geezer]

Are the people who owed the same group who owe ?
Much is paid for from society's public kitty. This will be replenished by taxation. The effect over time may be theoretically infinite, but one trusts hopefully will disappear into the economic noise level soon enough. In the unlikely event one's grandchildren are still affected then it's worth noting that they also gained when their grandparents and parents made it through.

[barry1010]

The WWII debts were paid off in 2006

[fiction-factory]

> Govt action on the CV-19 was to panic and tell everyone to stay home, under the bedclothes, when they should have put all their efforts into concentrating on the most vulnerable.

Hi 10CS. We won't know until much later on whether the government overreacted in terms of social distancing/lockdowns for the majority (as you imply) or was far too slow to react (should have closed schools, pubs, football grounds etc weeks earlier as many critics were saying).
As for the most vulnerable the government has introduced shielding and tried to contact them all. Are you suggesting that for the most vulnerable they have got it right or should they be doing more- and if so, what.

[Bobbisox1]

I want sod all of the EU AS Emmie said, that would be two faced , I’ll pay higher taxes rather than get help from them

[Theland]

At the moment the EU are suffering headless chicken syndrome.
But the silence from Mr Verhofstdt is glorious :-)

[10ClarionSt]

The govt knew who the most vulnerable were, but they told everyone to head for the hills and shut the country down. The volunteers would have been a start. People should not have stopped work. This doesn't make sense to me. Some people are working and some are given leave of absence. All of the working population should still be at work. Schools and colleges should still be open. Pubs, restaurants, bars, stadia, concerts etc should have been the first targets for closure; other measures might have been necessary later. WE'RE ALL DOOMED! DON'T PANIC!! DON'T PANIC!!! :o)

[fiction-factory]

>Pubs, restaurants, bars, stadia, concerts etc should have been the first targets for closure
>All of the working population should still be at work.

^presumably apart from those who work in pubs, restaurants, bars...

The majority of workers are still working though (NHS, supermarkets, police, army, care staff, call centre staff, refuse collectors)- albeit some office staff are working from home.