Instant analysis
Big chunky package. Effectively a second budget, 6 days after the last.
But wasn't quite Macron style "no biz will go bankrupt"-so a fair few questions: will terms of loans be? Is it realistic many businesses will be able to repay, given huge lost output?
Big chunky package. Effectively a second budget, 6 days after the last.
But wasn't quite Macron style "no biz will go bankrupt"-so a fair few questions: will terms of loans be? Is it realistic many businesses will be able to repay, given huge lost output?
And so far not much- beyond stuff for mortgage holders- for individuals, as say Scandinavians/New Zealanders have done: guaranteeing wages, boosting benefits, boosting sick pay rate and taking on the cost from employers/money for carers of COVID
.
.
Chancellor does say there are more proposals to come.
Another big question- what do "attractive terms" mean, in terms of corporate and commercial lending?
They'll have to be very attractive to convince some to try and keep battling on.
They'll have to be very attractive to convince some to try and keep battling on.
The PM/Chancellor said they'd spend as much or more that Macron did yesterday. But without saying definitively that no company/individual would go bust, it seemed a more qualified package. Effectively got less bang for their (considerable) buck.
Lots of black holes to be filled: on SMEs, on banks, on self-employed, on gig economy, on renters. Still, telling Sunak was using "whatever it takes" repeatedly. Suspect we'll be testing exactly what that means in the days to come.
