COVID Loans

[medsec222]

COVID loan free for all. Yet another scandal by this Government. £15 billion losses to error and incompetence. They have spent the taxpayers money with no checks and no hope of getting it back. Still, they can always cancel the triple lock for pensioners permanently if that will help.

[Workingman]

Amongst all the bumf telling me how my Council Tax payment is worked out there are two lines of note:

New State Pension - £185.10

How much you need to live on - £197.10 (Applicable amount from Gov't)

The government already knows that pensioners are £12 short of a 'liveable' income. Even if the triple lock had remained in place we would still be £3.10 short. Hopefully the millions of grey voters will remember this treatment come the next general election.

[Suff]

This is rumour mongering. Yes the banks will default the loans to the government to pay and the government will pay. At that time the government will enact recovery procedures to get the money back with higher interest than the %2.5 the loan conditions show.

They may, in the end, become quite lucrative for the government.

Not that it will be presented that way.

I put mine in the bank and paid it back after the year expired and it was due for repayments and interest.

[medsec222]

You may be assuming that everyone is as honest and responsible as you are Suff. Will the Government be able to track down and recover funds from the scammers, of which no doubt there will be many - I think not.

[Workingman]

Type "Covid loans losses and fraud" into a search engine for a range of numbers we tax payers will be picking up - anything from £4.9bn to £17bn.

Did I say "tax payers"? I meant pensioners.

[Suff]

You may be assuming that everyone is as honest and responsible as you are Suff. Will the Government be able to track down and recover funds from the scammers, of which no doubt there will be many - I think not.

In order to register for the loan you had to give a company registration, company number and to be a director of the company with authorisation to request the loan.

This is not the billions that the government simply "gave" away in furlough. Yes, billions and billions and billions. Given away. But companies? Oh no, even as they were attacking the companies with IR35 and trying to tax them for both employees and employers NI, the government then told them that they were NOT employees and could not get "given" furlough. Cute eh? Employees when the hand is out for taxes but not employees when Furlough came around. I hope this is used to screw the tax man over IR35 claims forever.

Nice.

From wired.

Under current rules, all non-essential businesses have closed. The current Coronavirus Job Retention Scheme was set to expire at the end of April 2021. The scheme, which paid up to 80 per cent of the wages of around 9.5 million people (at a cost of £41.4 billion) from March 2020, could surpass £50bn.

Yes that was over £40 Billion, that's with a Captial B, GIVEN away by the government with not a single penny coming back.

Oh I repaid mine because the government would have come after people like me in a heartbeat. But, honestly, £5bn? I hope they get away with every penny. Because the "taxpayers" funded every one of those £40bn and nobody said a word about it. In fact the Unions would have kept it going till it was £100bn but nobody cared.

Now the people who have been being shafted for a decade because they "might" not pay back a measly £5bn? Remember that was a bloody LOAN for people who had NO WORK, but they're expected to suck it up, lose the income, come back to work and pay every single penny back and, if they can't afford it due to the loss of work, have to pay %2.5 in interest, WAY over the base rate at the time.

There are two sides to this story and I don't have a single second of empathy for the calls that those horrible people might not pay back 1/8th of the sum GIVEN away to people. When they pay back every penny of that £40bn I'll stand and complain that the others might be "getting away with it" by not paying back close to £5bn.

But, please do, ignore the truth and carry on with the public execution of those who live their lives under pressure and get shafted from every direction. In many ways I'm really glad the drivers didn't come back during Covid. They'd been dumped on with IR35 then they would have been expected to take a LOAN out to keep themselves whilst the wage slaves were paid then they'd be the whipping boys of country for, perhaps, going under because they couldn't pay back a LOAN which was supposed to keep them going when the government shut them down.

Think I'm a tad irritated? Because I am. Even more so because the Government is going to pick up all that %2.5 in interest plus billions in fines and they are going to break thousands of lives where the people did nothing wrong but the Government just saw them as a soft target.

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