Hard Times Ahead Long After This Virus Has "Gone"

[derek-33]

with all the businesses that's closed, shops, bars, coffee shops etc.. mostly the LOT..and a million or more out of work where are all the taxes going to come from to repay all the billions of pounds that promised to fund the closed business and fund the nhs plus a myriad of other payments. i see very hard times and anarchy ahead

[Bobbisox1]

Well that’s cheered me up Derek :0(

[retrocop]

Probably why the Americans are queuing up to purchase firearms as their priority.
Their philosophy being,'He who holds the gun gets the bog rolls'.

[Zacs-Master]

Increased income tax and VAT would be my bet.

[fiction-factory]

^and I think most people will understand that. I reckon the basic rate of income tax will become at least 25% for a few years, and the higher rate will go up too. NI rates will have to go up for the self-employed too as they have generally not paid their share. I think pension tax relief will also be cut for higher earners and maybe the tax free lump sum on pensions will be reduced too.

[Apc2604]

I'm really glad that I am not a young person now, but they will learrn to survive in difficult circumstances and perhaps that is a good thing for many. The world will be a different place. A totally new normal and perhaps s better normal in years to come.

[woofgang]

[rockyracoon]

There's no doubt that we'll all face some financial reckoning over the next few years, but at least when I get my pay slip I won't be looking through gritted teeth. It's just a cost that we'll all have to bear.