Gransnet forums


Billions of pounds

(133 Posts)
tanith Wed 08-Apr-20 18:52:28

I know our Government borrow money but listening to Rishi Sunak today it’s clear they are going to be supporting the country with Billions of pounds for a long time.

I feel very naive/stupid wondering where it’s all going to come from?
Can anyone enlighten me as to where all this money will be found/borrowed from?

Eloethan Sat 11-Apr-20 00:05:33

What a crazy world we live in when a tragic global event such as this is seen as a wonderful opportunity for those whose only aim in life appears to be grabbing as much money as possible:

From the Daily Mail 5.4.20:

"Jacob Rees-Mogg's investment firm is accused of exploiting worldwide market volatility caused by the coronavirus panic to rake in huge profits.

"The MP owns 15 percent of Somerset Capital Management, whose chiefs appear to be investing in businesses hit hard by falling stocks.

"Executives have told clients the international crisis is providing a 'once in a generation' chance of earning 'super normal returns' the Sunday Mirror says. "

Of course, he and his firm won't be the only ones. But it does make me wonder whether people like this, whose goals appear to be wholly related to the acquisition of wealth are the best people to be MPs.

growstuff Sat 11-Apr-20 01:37:06

Excellent post Maizie.

vegansrock Sat 11-Apr-20 07:32:24

Well we’ve spent more on Brexit than we ever contributed to the EU, and we got free trade and lots of benefits in return don’t forget, so leaving hasn’t saved us anything - and being outside it will undoubtedly cost much more ( striking all those fabulous deals with the US and China look a bit hollow now). “Looking after our own” using our own resources is impossible, since we import 60% of our food and don’t really make anything ourselves anymore. A friend is a civil servant working on Brexit and getting paid lots of taxpayers money, she is now WFH , along with the rest of her department , on sourcing supplies for the NHS quite rightly - from the EU! Couldn’t make it up - so no work being done on Brexit in the legal team it’s “all ground to a halt” to use her words.

NfkDumpling Sat 11-Apr-20 07:44:36

Thanks for the blog links Maisie. I shall now go and sit in the sun and have a read.

MaizieD Sat 11-Apr-20 08:52:02

Glad you've got some sun, Nfk. It''s very grey up here in Co Durham grin

GrannieIggle Sat 11-Apr-20 13:43:25

Eloethan Thu 09-Apr-20 23:59:31

Excellent post.
Couldn't have put it better.

One of the first things that came to mind as most of the workforce was laid off is the possibility of a debt jubilee for all if this lockdown continues (not just for the selected few as now).

Gvts can't indefinitely continue to create money out of thin air. Thus furloughed people won't be able to service their debts indefinitely.

GrannieIggle Sat 11-Apr-20 13:46:54

Eloethan Sat 11-Apr-20 00:05:33

People like Rees-Mogg are simply despicable.
Profiting off the misfortunes of others.
Note that this is how these specimens have set up all our 'care' systems and are constantly machinating to do this to the NHS.