Following our call for Cash into the economy NOW, in addition to the work the banks are doing, there needs to be direct support for the firms and staff / families etc to get cash moving again and mitigate the effect on health and wellbeing and in consequence the economy as a whole. There seem to be no current Government plans to do this.
AND YET the REST of the WORLD of the world is doing EXACTLY what we have asked for. Money Chanelled directly through firms and to families. Why? So there will be an economy left afterwards.
As we have already said. NOW is the time for leadership.
Singapore (the most capitalist government in the world)
Yesterday, the Singapore Government announced a third set of measures in the Solidarity Budget, where an additional S$5.1B was earmarked to safeguard jobs and help firms as well as households weather the COVID-19 situation. This includes 75% wage support for all local workers during this month when all non-essential work has to stop so that we can put a brake on local transmission. Keep safe everyone.
USA (for goodness sake!)
If all plays out as Congress intends, about 60% of those workers who get government help will receive it through their current employer. “We’re looking at employees being ready, not lost in this process. We want businesses to stay intact,’’ Jovita Carranza, head of the Small Business Administration, said at a White House briefing last week. Her agency is charged with overseeing the most complicated part of the job subsidies: $349 billion in government guaranteed Paycheck Protection Program loans to small and medium sized businesses and not-for-profits. Those loans will be forgiven if employers keep their workers on the payroll, at full salary, for eight weeks and use at least 75% of the loan proceeds for payroll.
Spain, which has the biggest cluster of COVID-19 infections outside the U.S., will introduce universal basic income “as soon as possible” as part of its efforts to combat the economic effects of coronavirus, Economy Minister Nadia Calvino said on Sunday. Critically, the scheme is expected to be rolled out indefinitely.
The move has been prompted by the coronavirus crisis, but Calvino told Spanish channel La Sexta that the measure, once rolled out, will remain after the pandemic is finally over.
No date was given for the rollout, but Calvino assured that the measure will be launched as soon as possible, and that the government is working out the details.
It is not yet known what the amount would be, but it is expected to be geared toward families and complement other social security measures pledged by the Spanish government, to support the population through the crisis.
STILL NO NEWS of Support for Business Owners paid by Dividend. That is the SME Owners who take the risks, Create 60% UK employment, and if they are still here, will form the basis of the recovery. They are also the people who even though they should bot have to are struggling to get support from the banks.