Gransnet forums

Coronavirus

Billions of pounds

(132 Posts)
Jane10 Wed 08-Apr-20 22:18:01

There's bound to be a reckoning after all this has passed. Billions have been borrowed. However, things would be infinitely worse if so many of us had lost our jobs overnight and businesses closed down altogether. This govt support has kept most people afloat at least. There will have to be tax rises ahead but I for one would gladly pay more.

notanan2 Wed 08-Apr-20 22:12:23

I just cannot understand why it hasnt happened already this is exactly what that whole ns&i system is there for!

Granny23 Wed 08-Apr-20 22:07:50

Good idea notanan especially as interest/dividends on our investments have reached rock bottom anyway.

notanan2 Wed 08-Apr-20 21:59:34

I dont get why they arent selling / promoting a CV version of warbonds.

Situations like this is what ns&i is supposed to be for!

Why arent they making a new appealing bond product and asking people with isas/saving to transfer it over to help the gov reduce its CV borrowing

annsixty Wed 08-Apr-20 21:54:24

I have assumed the World Bank or Monetary Fund but. could be wrong.
All I know is that it will have to be repaid so that when our taxes go up plus NI for the working population we must grin and bear it.
Everyone ,well most, have been shored up and treated relatively fairly, like any personal debt we will have to repay it.
It may take a long time.

tanith Wed 08-Apr-20 19:01:07

Sorry meant to add
Or has it all been sitting in the coffers not being used?

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?