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Rishi Sunak, Former UK Chancellor of the Exchequer - and now UK PM

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Saj

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He's been very impressive as Chancellor of the Exchequer. Spoken well, with clarity and what a fine example he is as a British Asian.

Some are even speaking of him as a future Prime Minister.
 
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Good rhetoric but Obama had this too.

His policies are shocking.

eg.

1. Mortgate holiday but you will end up paying more for you house as the interest sum will increase.

2. Job retention scheme, only 80% of wages while also basically accepting redundancy(if economy conitnues) without getting paid government redundancy immediatley.
 
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Saj said:
He's been very impressive as Chancellor of the Exchequer. Spoken well, with clarity and what a fine example he is as a British Asian.

Some are even speaking of him as a future Prime-Minister.
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And he is only 39 yrs age. Infosys founder Narayan murthy must be feeling very proud.
 
globalcitizen said:
And he is only 39 yrs age. Infosys founder Narayan murthy must be feeling very proud.
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The Rich and the powerful feeling proud that their son in law would the same, ofcourse.

Do you feel proud is the question?
 
PM?
Maybe. 4 years is a long time.

He is alright but he is a big yes-man
 
Can’t seem to find a reason to dislike him. I think he wants to do the best for the UK.

Oxford grad also. Very impressive Alma Meter.
 
Very impressive, a must as a future prime minister, handles everything thrown at him impeccably
 
JaDed said:
The Rich and the powerful feeling proud that their son in law would the same, ofcourse.

Do you feel proud is the question?
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I have no ties with UK either as resident or work!
So I am just happy for someone succeeding , nothing more than that.
 
At best, he'll be a giant fraud like Obama.

These smooth talkers are all the same.
 
Regardless, when has the PM of UK ever mattered to anybody outside the UK?

Quite a low profile job for what is a developed Western nation and a superpower.

Is also a game of musical chairs in recent years.
 
He reminds me of Bobby Jindal for some reason, but a more secure and compassionate version.
 
Varun said:
Regardless, when has the PM of UK ever mattered to anybody outside the UK?

Quite a low profile job for what is a developed Western nation and a superpower.

Is also a game of musical chairs in recent years.
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UK is a super power?
 
He is married to the daughter of an Indian billionaire the couple got married in bangalore. Yes he is British born and bred but he certainly holds a connection to his Indian heritage.
 
Manunited18 said:
Lol, he's born and bread in the u.k, Southampton as a matter of fact, in these extremely difficult times hes shown far better leadership than the inept Boris Johnson
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He is married to the daughter of an Indian billionaire the couple got married in bangalore. Yes he is British born and bred but he certainly holds a connection to his Indian heritage
 
shafkath said:
He is married to the daughter of an Indian billionaire the couple got married in bangalore. Yes he is British born and bred but he certainly holds a connection to his Indian heritage
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My question will be why does it matter?

It's not like UK is a close ally of pakistan which will hamper the relationship if a person with indian heritage becomes the PM. Nor india have any close relationship with UK. Nor UK has any power to dictate terms in international forum.
 
Itachi said:
My question will be why does it matter?

It's not like UK is a close ally of pakistan which will hamper the relationship if a person with indian heritage becomes the PM. Nor india have any close relationship with UK. Nor UK has any power to dictate terms in international forum.
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The UK doesn't have a close relationship with india but it could do if sunak got the pm position. As of now yes it doesn't matter if sunak has Indian links but I wouldn't like to see him become pm. As a British Pakistani I can't imagine anything worse than a close relationship between UK and India
 
Lets see what happens after things get back to some sort of normality and the Tory Govt. has to figure out how to pay for it all without raising taxes. Don't forget, during 10 years of Tory austerity, with those at the bottom echelons of society suffering, with the NHS starved of resources and brought to it's knees, the Tories were intent on keeping the rich and powerful Tory party backers happy and keeping their taxes low.

For the Tory's, and Sunak if he's still the Chancellor, the choice will be whether to go back to austerity in order to please their rich and powerful backers.
 
shafkath said:
He is married to the daughter of an Indian billionaire the couple got married in bangalore. Yes he is British born and bred but he certainly holds a connection to his Indian heritage
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The crisis the whole world is going through these petty little issues regarding his links , political bias means nothing, as a matter of fact the conclusion of this epidemic will make sure EVERY nation will be deeply commited to their own matters
 
And to think of it, its only his 3rd week as a chancellor and had to deal with an epidemic. The calmness in which he is handling this cricis is amazing. Terrific lad and next PM for sure.
 
I suppose easy to do when its someone else's money!

All chancellors in such times will be good - problem is how he will handle himself when the real economic crisis hits us post covid-19
 
Boris tested positive for Covid-19 and will be in self isolation. Though he will continue to lead the country from isolation, safe to say Rishi Sunak will now make all public appearences? Huge test for him ahead.
 
One reason he is the Chancellor at such a young age and with limited experience is because he accepted the yes man role when senior politicians would have declined it because of the shifting of decision making power to the PM.
By agreeing to share advisers with No. 10 he is seen as a stooge to Johnson and his senior adviser Dominic Cummings.
 
Rajdeep said:
Boris tested positive for Covid-19 and will be in self isolation. Though he will continue to lead the country from isolation, safe to say Rishi Sunak will now make all public appearences? Huge test for him ahead.
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Dominic Raab would take over the PM role if Boris was unable to fulfill it.
 
Rajdeep said:
And to think of it, its only his 3rd week as a chancellor and had to deal with an epidemic. The calmness in which he is handling this cricis is amazing. Terrific lad and next PM for sure.
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Do you live in the UK?
 
Rajdeep said:
Boris tested positive for Covid-19 and will be in self isolation. Though he will continue to lead the country from isolation, safe to say Rishi Sunak will now make all public appearences? Huge test for him ahead.
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Umm... No

Raab is taking over
 
This crisis is making the 2008 crash look like a picnic, lets see what happens when we have to put up taxes to pay for these necessary measures. They call the last crash as the lost decade, lets what happens with this lost decades.
 
I think he has presented very well as the Chancellor, and has generally come across well and instilled confidence in the British public. That said, there is zero chance of him ever being PM in my opinion. It is one thing for the public to warm to him as a no 2, but would they feel the same way about him leading?

I said this in a previous thread, but he is more of a Robin to Bojo's Batman. A good sidekick, not a leader.
 
My friend said "stand anyone next to Boris J and they will look like a genius"
 
Cpt. Rishwat said:
I think he has presented very well as the Chancellor, and has generally come across well and instilled confidence in the British public. That said, there is zero chance of him ever being PM in my opinion. It is one thing for the public to warm to him as a no 2, but would they feel the same way about him leading?

I said this in a previous thread, but he is more of a Robin to Bojo's Batman. A good sidekick, not a leader.
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This is just like when Pakistanis get excited over a new batsman scoring a 50 and start calling him the next Inzi. But they usually end up failing lol
 
Ronaldo7 said:
This is just like when Pakistanis get excited over a new batsman scoring a 50 and start calling him the next Inzi. But they usually end up failing lol
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In what way? I don't see any public call for Rishi to be the next saviour of Britain. Most are happy to see him play a subservient role to Boris.
 
Cpt. Rishwat said:
In what way? I don't see any public call for Rishi to be the next saviour of Britain. Most are happy to see him play a subservient role to Boris.
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Wasn't aimed at you.

It was aimed at the people who are calling him the "next PM"
 
Saj said:
My friend said "stand anyone next to Boris J and they will look like a genius"
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And need to get yourself Covid tests also!

Just hope he stays healthy - smart guy but his skills will be tested greatly in the future.
 
Rishi is performing ok, but remember two things : first of all he's still in his Honeymoon period and the Coronavirus has made his life easy as chanceller; he effectively has a blank cheque book and doesn't have to balance the books as past number 11s have had to.

Secondly, he's from a privileged background. Money, education, and contacts.
 
Rajdeep said:
Boris tested positive for Covid-19 and will be in self isolation. Though he will continue to lead the country from isolation, safe to say Rishi Sunak will now make all public appearences? Huge test for him ahead.
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Raab is #2.
 
Varun said:
Regardless, when has the PM of UK ever mattered to anybody outside the UK?

Quite a low profile job for what is a developed Western nation and a superpower.

Is also a game of musical chairs in recent years.
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Permanent member of UNSC.

Ability to devastate any nation with Trident.

Massive post-colonial network of diplomatic links.

Pivotal role as Atlantic bridge between EU and USA (though we burned that).

Yep, the PM is relevant all right, though the nation voted to make him less so.
 
Robert said:
Permanent member of UNSC.

Ability to devastate any nation with Trident.

Massive post-colonial network of diplomatic links.

Pivotal role as Atlantic bridge between EU and USA (though we burned that).

Yep, the PM is relevant all right, though the nation voted to make him less so.
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Doesn't matter. There can be a game of musical chairs between Boris Johnson, Theresa May, David Cameron and the next nobody on the scene and the world will continue spinning as normal.

With Trump and Putin and Xi Jinping, it's a different story.
 
Technics 1210 said:
Rishi is performing ok, but remember two things : first of all he's still in his Honeymoon period and the Coronavirus has made his life easy as chanceller; he effectively has a blank cheque book and doesn't have to balance the books as past number 11s have had to.
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Oh he'll have to balance the books for the sure. The money they're putting into the system might come from thin air - but rest assured there will be interest charged on it. So he'll be doing a lot of balancing once this is over. He's also have to manage a house market crash and a massive unemployment rate (benefits).
 
bones said:
Oh he'll have to balance the books for the sure. The money they're putting into the system might come from thin air - but rest assured there will be interest charged on it. So he'll be doing a lot of balancing once this is over. He's also have to manage a house market crash and a massive unemployment rate (benefits).
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Interest rates are at 0.1%. But yes lets see how he manages a property market crash, and Brexit of course.
 
Technics 1210 said:
Interest rates are at 0.1%. But yes lets see how he manages a property market crash, and Brexit of course.
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I was wondering about this today, there has been talk of property values being due a correction anyway, surely this Coronavirus will see property prices take a real hit soon? Brexit was already probably going to hit the London property market, now this on top looks ominous.
 
Chancellor Rishi Sunak will be the next stand-in for Boris Johnson if Dominic Raab succumbs to the coronavirus, Downing Street has said.

The Prime Minister’s official spokesman said there was an "established order of precedence" which would dictate which ministers would follow if Mr Raab was also incapacitated.

As First Secretary of State - effectively deputy prime minister - as well as being Foreign Secretary, Mr Raab was top of the list to deputise for Mr Johnson after he was hospitalised.

The spokesman said after that, Mr Sunak was the next in line.

"There is an established order of precedence. The Prime Minister has appointed the Foreign Secretary as his First Secretary of State," the spokesman said.

"In line with the order of precedence, the Chancellor would follow from the Foreign Secretary."

It would be a remarkable rise for 39-year-old Mr Sunak, who only became Chancellor in February after Sajid Javid resigned during Mr Johnson’s Cabinet reshuffle.

He had previously held the post of Treasury chief secretary, Mr Javid's deputy, having been promoted to the Cabinet by Mr Johnson when he became Prime Minister last July.

Before that he had been a junior local government minister under Theresa May.

He has however impressed MPs with a series of assured performances, as he set out plans for a series of massive bailouts to prevent the economy collapsing following the coronavirus outbreak.

No 10’s confirmation that he is next in line to stand in for Mr Johnson comes amid reports of tension between senior ministers as they grapple to control the epidemic.

https://www.itv.com/news/2020-04-07...stand-in-for-pm-if-raab-succumbs-to-covid-19/
 
Will the 80% payment be paid back by those who join the scheme, will the government ask it back ?
 
My view is that its easy to spend someone else's money but the real challenge for him will come when he has to try and recoup what is essentially tax payers money at a later point.
 
Varun said:
Doesn't matter. There can be a game of musical chairs between Boris Johnson, Theresa May, David Cameron and the next nobody on the scene and the world will continue spinning as normal.

With Trump and Putin and Xi Jinping, it's a different story.
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What you seem to be saying is that the office of PM if the UK is not powerful because UK is a democracy and the PM us accountable to people and party.

Trump is gone in this year or in four years. Some other democratically elected POTUS will succeed him.

Putin and Xi Jinping were not democratically elected so the comparison is false. Putin can pretend to be but the elections are rigged with the opposition not allowed to campaign.
 
Cpt. Rishwat said:
I was wondering about this today, there has been talk of property values being due a correction anyway, surely this Coronavirus will see property prices take a real hit soon? Brexit was already probably going to hit the London property market, now this on top looks ominous.
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One would expect the London property market to hold up better than the rest of the UK. If we go for hard Brexit then the North West will be worst hit as the Japanese car plants wind down, and the shires too as small farmers and fishermen fail.

If there is a free trade deal with the EU then the economy may hold up better but I have no faith that this government has the ability or time to negotiate this especially as we come out of the pandemic. It took Canada and Japan years.

Hard days ahead, I think.
 
Terrible Press conference by him yesterday

Casually deflecting all serious criticism directed to him and UK Gov, and then not allowing a follow up to those journalists who were putting him under the pump.

A man likely to break when the going gets tough!
 
Government action to prevent people being laid off during the Covid-19 crisis has failed to reassure people in the UK about their jobs and their financial wellbeing, a survey has reported.

On the day that the chancellor Rishi Sunak’s furloughing scheme to subsidise wages formally opened, the snapshot of household finances from IHS Markit showed the fastest drop in confidence since the survey began during the depths of the last recession in early 2009.

The household finance index, which measures overall perceptions of wellbeing, fell from 42.5 in March to 34.9 in April, while uncertainty about the length of the lockdown meant households were at their most pessimistic in eight and a half years about how they would make ends meet.

The chancellor moved swiftly to announce the government would subsidise 80% of the wages of workers who were furloughed and later broadened its support to include most of the UK’s 5 million self-employed.

But the IHS Markit survey found that perceptions of job security had plunged to their lowest on record. People working in the education, health or social care sectors were the least gloomy, while households employed in media, culture and entertainment were the most worried about their employment prospects.

IHS Markit said one encouraging sign was that there were no signs of household budgets coming under immediate stress because of the lockdown. Debt levels held broadly stable when compared with March, while households dipped into their savings to meet their financial commitments.

Joe Hayes, an economist at IHS Markit, said the deterioration shown in the survey was unsurprising.

“Even with the government’s scheme to backstop earnings, those in receipt of this will still be worse off as support has been pledged for 80% of their full income. Around one in three UK households reported a decline in income from employment during April, which was by far the largest number since the survey began in 2009.

“Limiting the adverse impact on UK household balance sheets will be crucial in the coming months so that when economic activity does recover, consumers are not stuck repaying debts and instead are able to boost discretionary spending to aid a strong recovery.”

https://www.theguardian.com/busines...ough-support-scheme-fails-reassure-britons-uk
 
The popularity of politicians in the UK is taking a hit, with some pretty unpopular decisions being uncovered.
 
Chancellor Rishi Sunak has spoken of the "heartbreaking" job losses already caused by the coronavirus lockdown.

He said the government was determined to save as many firms as it could - which was why it would carry on paying the wages of 7.5 million people.

The scheme was "expensive" but the cost to society of not doing it would be "far higher", he told the BBC.

He earlier announced the extension of the furlough scheme to the end of October.

Employees will continue to receive 80% of their monthly wages up to £2,500 but the government will ask companies to "start sharing" the cost of the scheme from August.

A quarter of the workforce, some 7.5 million people, are now covered by the scheme, which has cost £14bn a month.

'Right thing'
The chancellor said that from August, the scheme would continue for all sectors and regions of the country but with greater flexibility to support the transition back to work.

Employers currently using the scheme will then be able to bring furloughed employees back part-time.

Mr Sunak told the BBC's political editor Laura Kuenssberg: "This is an expensive scheme... but I also believe it's absolutely the right thing to do.

"And what's very clear to me is that the cost of not doing this for society, for our economy, for our country would be far higher, and I am simply not going to give up on all these people."

'Already happening'
Asked if the UK was heading for a recession, he said: "We already know that many people have lost their jobs and it breaks my heart, we've seen what's happening with Universal Credit claims already.

"This is not something that we're going to wait to see - it's already happening.

"There are already businesses that are shutting there are already people who have lost their jobs.

"And as I said that's heartbreaking to me and that's why I'm working night and day to limit the amount of job losses.

Asked about the effect of the lockdown on the future of the British economy, the chancellor pledged to drive up productivity across the UK and "invest" in people and infrastructure.

"That agenda remains even more relevant today than it did then. And we will not we will not at all retrench from delivering on that," he told Laura Kuenssberg.

Labour has welcomed Mr Sunak's decision to extend the furlough scheme, calling it "a lifeline for millions".

But shadow Chancellor Anneliese Dodds said the government had to clarify when employers will be required to start making contributions, and how much they'll be asked to pay.

"If every business is suddenly required to make a substantial contribution from 1 August onwards, there is a very real risk that we will see mass redundancies," she added.

https://www.bbc.com/news/uk-politics-52606981
 
MenInG said:
My view is that its easy to spend someone else's money but the real challenge for him will come when he has to try and recoup what is essentially tax payers money at a later point.
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===

The government's response to the coronavirus crisis will cost taxpayers £123.2bn, according to an updated estimate from the Office for Budget Responsibility.

That is up from a previous estimate of £103.7bn - with more than half of the increase due to the rising cost of the government's scheme to pay wages for temporarily laid off workers.

The latest figure takes the overall level of spending close to the annual budget of NHS England - though some of the coronavirus spending is itself accounted for by health service costs.

It means, according to the OBR, that government borrowing is now on course to climb to more than £298bn for the current 2020/21 fiscal year - up from £273bn when previously estimated a month ago.

In March, before the lockdown, it had estimated borrowing of £55bn.

The sharp rise in borrowing is accounted for by lower tax revenues - as the locked down economy shrinks sharply - as well as higher spending.

The latest expected total would leave debt at 95.8% of GDP.

The OBR's figures starkly illustrate the increasing burden of the crisis on the Treasury.

By comparison, the NHS England budget for 2019/20 was just under £121bn and for the current fiscal year - prior to the lockdown being announced - was set at £127bn.

Much of the extra cost laid out in the latest OBR report is the result of the government's decision to extend the furlough scheme, designed to save stricken companies from having to sack workers by paying most of their wages.

Rishi Sunak announced earlier this week that the scheme, initially set up to run until the end of June, would continue to pay 80% of salaries up to £2,500 for a further month.

After that, the scheme will run for a three months to the end of October, but with employers expected to begin footing some of the bill.

The extension means that the OBR - the government's fiscal watchdog - now estimates the net cost of the scheme at £50bn, up from £39bn.

But that figure only takes into account the cost of furloughing until the end of July - as the watchdog said there was "insufficient detail" for it to say how much the scheme would cost after that.

The OBR report also for the first time estimates the cost of a series of government-backed loan schemes to support businesses.

It pencils in a figure of £5bn as the sum of lending that the Treasury may have to write off in 2020/21 as a result of the initiatives.

The overall taxpayer bill also includes £15bn on extra public services spending - taking in more money for health services, local authorities, vulnerable individuals, subsidising railways, and money for devolved administrations.

On the impact of the coronavirus on economic growth, the OBR stuck to its scenario that GDP could shrink by 35% in the current second quarter before partly bouncing back in the following three months.

https://news.sky.com/story/coronavirus-cost-of-government-response-climbs-to-123bn-11988142
 
The UK Chancellor Rishi Sunak has said "it will take time" for people to resume their economic habits "even once we have reopened" and so there will not be an "immediate bounce back" for the economy.

He told a House of Lords committee: "We're likely to face a severe recession the likes of which we have not seen, and of course that will have an impact on unemployment."

He also warned that there could be permanent scarring to the economy, with output down on pre-lockdown levels for a prolonged period.

BBC political editor Laura Kuenssberg said Sunak's "tone today is a lot less enthusiastic than early talk about a quick bounce back for the economy".

==

Tough times ahead for Rishi.
 
Rishi Sunak has set out plans to stave off mass joblessness in Britain, extending a £6.8bn support package for the self-employed and confirming massive wage subsidies for employees until the end of October.

The chancellor said the package of measures, that are more generous than had been expected, will act as a “lifeline” for millions of jobs and businesses blighted by the coronavirus lockdown, as ministers pin hopes on an economic upturn in the autumn.

Boris Johnson is discussing with ministers a big job creation scheme, possibly to be announced before the summer break, focusing on upgrading infrastructure.

“We are trying to identify shovel-ready projects — we want to get a move on with this,” said one minister. Transport projects and environmental schemes are among the priorities.

Unemployment could rise by 2m due to the coronavirus crisis, according to the independent Office for Budget Responsibility, and has become a major focus for Mr Johnson. Gavin Williamson, education secretary, is drawing up a skills package to retrain workers, particularly the young.

The Treasury is planning a Budget in the autumn but government officials have not excluded the possibility of a pre-summer economic statement, setting out the second phase of the government’s economic response to the crisis.

Mr Sunak on Friday announced what are expected to be the final stages of his emergency support package for the jobs market. By the autumn, as state subsidies are withdrawn, the true scale of the unemployment crisis will become clearer.

The chancellor announced that the self-employment income support scheme — which has so far cost £6.8m and has covered lost trading profits of up to £2,500 a month for three months — would be extended to cover another three months.

There have so far been 2.3m claims under the scheme. Mr Sunak announced those eligible would be able to claim a second and final grant in August, capped at £6,750 in total, a cut in support to 70 per cent of profits.

The extended support for the self-employed is more generous than some expected — until Friday Mr Sunak had not committed to continuing the scheme at all — and reflected the chancellor’s concerns about the continuing malaise in the economy.

Mr Sunak also revealed details of how he will operate the final stages of the job retention scheme for furloughed workers — which has helped protect 8.4m jobs with 1m employers — which will be wound up at the end of October.

The scheme will be made more flexible to allow furloughed workers to be brought back part-time in July, while a new taper will mean that employers will only have to make initially modest contributions to the cost of the scheme from August 1.

Under the scheme, which pays 80 per cent of wages of furloughed staff, employers will gradually pick up more of the wage bill from August 1, starting with employer national insurance contributions and pension contributions — for the average employer this would amount to 5 per cent of employment costs.

By October the government would pay 60 per cent of wages up to a cap of £1,875. The Treasury said the scheme would end on October 31 and would not be extended.

Mr Sunak said: “Our top priority has always been to support people, protect jobs and businesses through this crisis. The furlough and self-employment schemes have been a lifeline for millions of people and businesses.”

https://www.ft.com/content/425f4baa-ab57-44a5-93ee-8a90a856789e
 
<blockquote class="twitter-tweet"><p lang="en" dir="ltr">I’ve had a lot of questions on what I think about last weekend’s protests so I thought it would be easiest to share my thoughts below. <a href="https://t.co/KnutJ1YZRo">pic.twitter.com/KnutJ1YZRo</a></p>— Rishi Sunak (@RishiSunak) <a href="https://twitter.com/RishiSunak/status/1270015482398203910?ref_src=twsrc%5Etfw">June 8, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 
Chancellor Rishi Sunak has told Sky News that he has suffered racist abuse which "stings in a way that very few other things have".

In an exclusive interview, the chancellor said he had "enormous respect" for those taking part peacefully in Black Lives Matter protests - but insisted that "change doesn't come about through acts of vandalism or violence".

"As a British Asian, of course I know that racism exists in our country, and I know people are upset, they're angry and they want to see change," he said.

But he warned violence is "not how you achieve real and long-lasting change".

Asked whether he has experienced racism in the UK himself, he said: "Absolutely, absolutely I have. It stings in a way that very few other things have.

"But the things that might have happened many years ago when I was a kid I think are things that would not happen to me today."

He said although things have changed a lot since he was growing up, there was still more to be done.

He said: "Let's take a moment to recognise the enormous change we've made in this country from the time that my grandparents first arrived here, from the time that I was born and grew up.

"The work that has happened in the years before now has been tremendous and we deserve credit for that but that doesn't mean that there's not more to do."

Prime Minister Boris Johnson also conceded there was more to be done in an article for the Voice, saying the killing of George Floyd in the US had "awakened an anger and a widespread and incontrovertible, undeniable feeling of injustice".

But he condemned violence used by a minority of protesters, and told his cabinet on Tuesday that anyone who broke social distancing or attacked public property or the police would "face the full force of the law".

boris johnson denounces protestors

PM 'will not support those who flout rules'

In the UK, black people are still disproportionately targeted by police stop and search powers, and protesters say racism is still a big problem.

On Tuesday, protesters in London observed a minute's silence on their knees to coincide with Mr Floyd's funeral, before marching from the statue of Nelson Mandela in Parliament Square to Downing Street.

Labour leader Sir Keir Starmer and his deputy Angela Rayner both knelt in solidarity with the demonstrators.

Hundreds of people in Oxford also gathered at the city's university to demand the removal of a statue of Victorian imperialist Cecil Rhodes.

Later today, Stand Up To Racism is calling on people across the UK to "take the knee" at their doorsteps at 6pm.

https://news.sky.com/story/chancell...ther-things-have-12004040?dcmp=snt-sf-twitter
 
5c8b1fc6-8bba-410d-8da2-ebaf1621ad98.png


And this is his test.


A fifth of the economy lost in the month of April, a quarter since lockdown began.

These numbers are not just records for a month, they are completely off the scale.

And yet at the same time it is not entirely surprising that if the lifeblood of an economy is locked down - free exchange, movement, places of work - that the hit should be just so severe.

Empty streets, empty shops, empty offices and empty skies lead to numbers such as this.

The charts make the financial crisis of 2008-2009 look like a blip. Indeed, the peak to trough fall of 25% and falling compares to 7% then.

So all efforts are now on trying to generate a bounce back. But that will not now be possible.

The ONS numbers add to the pressure to ease the lockdown more quickly, but fears around the control of the disease here have led to a step-by-step, cautious approach.

The actual impact of the numbers may be felt more acutely in the Treasury.

There is some pressure to consider the moves made across Europe on second phase economic rescue packages. Germany has cut VAT and offered billions to families for every child and to purchasers of green cars. France is offering huge rescue funds to the car and aerospace industry.

The unprecedented jobs schemes here will help to protect livelihoods. But with this scale of hit, it will not be enough.
 
Disastrous decision to extend the furlough scheme past July. This will destroy our economy
 
Rana said:
Disastrous decision to extend the furlough scheme past July. This will destroy our economy
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For someone who has posted multiple links to companies planning mass redundancies you sure do seem to be keen for these to continue and increase in numbers with a sudden, sharp and premature ending of the furlough scheme.
 
HitWicket said:
For someone who has posted multiple links to companies planning mass redundancies you sure do seem to be keen for these to continue and increase in numbers with a sudden, sharp and premature ending of the furlough scheme.
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For someone who loves the scheme because he doesn’t have to go back to work as a luxury, you should not engage in the topic
 
Whilst all the industries could reopen in August, what a stupid decision to continue the Furlough scheme past July! Many companies have proven to exploit this scheme even though they had no need to, and they will continue to exploit it until November for no reason!
 
HitWicket said:
For someone who has posted multiple links to companies planning mass redundancies you sure do seem to be keen for these to continue and increase in numbers with a sudden, sharp and premature ending of the furlough scheme.
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Rana said:
For someone who loves the scheme because he doesn’t have to go back to work as a luxury, you should not engage in the topic
Click to expand...

I'm not on the scheme, I do however work for a company where 1000+ people would've been made redundant and without an adequate income months back if it didn't exist.

Do you seriously think most companies would prefer to not operate and therefore not receive most of their income (but continue having to pay their business costs) rather than operate and receive income but have to pay their staff?
 
HitWicket said:
I'm not on the scheme, I do however work for a company where 1000+ people would've been made redundant and without an adequate income months back if it didn't exist.

Do you seriously think most companies would prefer to not operate and therefore not receive most of their income (but continue having to pay their business costs) rather than operate and receive income but have to pay their staff?
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Erm, yes. I seriously believe it and I have seen it First hand. The Furlough scheme is a huge fraud system and the results are before us, we have the worst hit economy in the G7! Well done Sunak and well done all of those clowns who clapped this scheme!
 
Rana said:
Erm, yes. I seriously believe it and I have seen it First hand. The Furlough scheme is a huge fraud system and the results are before us, we have the worst hit economy in the G7! Well done Sunak and well done all of those clowns who clapped this scheme!
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It makes no logical sense for a business to keep their employees furloughed and operate at a loss when they can open, gradually remove employees from furlough and earn a profit.

Let me guess, you also believe suddenly plunging millions into unemployment and poverty as would have happened without the furlough scheme would have wouldn't have harmed our economy either?
 
HitWicket said:
It makes no logical sense for a business to keep their employees furloughed and operate at a loss when they can open, gradually remove employees from furlough and earn a profit.

Let me guess, you also believe suddenly plunging millions into unemployment and poverty as would have happened without the furlough scheme would have wouldn't have harmed our economy either?
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Whilst I believe 3 months furlough was already an overstretch, I argue that continuing this scheme has done more harm. Simple as that.

I would rather have these people on the universal credit forcing the Governments hand to reopen fully! This nonsense has gone on for too long now and there is no easy coming back from that downwards graph you see up there!

Well done Boris and conservative scums! Monumental failure of the highest order!
 
Rana said:
Whilst I believe 3 months furlough was already an overstretch, I argue that continuing this scheme has done more harm. Simple as that.

I would rather have these people on the universal credit forcing the Governments hand to reopen fully! This nonsense has gone on for too long now and there is no easy coming back from that downwards graph you see up there!

Well done Boris and conservative scums! Monumental failure of the highest order!
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Universal credit is about £100 a week, and less than £90 a week for those under 25. If you're living with a partner who's also claiming it's even less than that each. That isn't enough to live on for the millions of workers out there that were on or very close to minimum wage or low income families with minimal savings.
 
HitWicket said:
Universal credit is about £100 a week, and less than £90 a week for those under 25. If you're living with a partner who's also claiming it's even less than that each. That isn't enough to live on for the millions of workers out there that were on or very close to minimum wage or low income families with minimal savings.
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Universal credit is £100 a week after the government clears your rent. No doubt it is not ideal but it is better than keeping people on furlough only to end up on universal credit anyways once the furlough scheme ends.

The government have got their entire strategy wrong. This happens when you have a yes man like Sunak at the helm of things whereas a solid treasurer would look to save each penny he could and get things back to normal.

The scheme should have ended in July. Companies/ industries opening 100%. Those who cannot bring back full staff force to lay off a percentage, whilst the jobs would eventually return within the next couple of months with the easing of social distancing measures.

Prolonging it to November is stupid as it is and I hope todays figures make this incompetent government backtrack like they did on schools, and open fully even if it means July!
 
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