Freeze the economy

C

cruzzer

Well-known member
If this crisis gets worse and goes on for a prolonged period then in my opinion the whole economy should be frozen.

Points would be;
  • All mortgage payments put on hold
  • No utility bills
  • No council tax bills
  • Food sold at cost
  • Fuel sold at cost
Most would then be able to survive on SSP saving companies from paying wages.

Drastic measures perhaps but could mean there are businesses left when this blows over.
 
Well if we had to close the hotel I dont know how we could pay all the bills and rent etc. Worrying to say the least. Buisness interruption insurance doesn’t cover this disease either. I’m only a small buisness so don’t pay buisness rates. But I still have gas electric phone rent tv license ppl prs mplc water and so on to pay each month. How would I pay them ?
I get people’s health must come first but then there’s a real danger small businesses could go out of buisness due to this
 
Don't forget that if companies don't have to pay wages, the government doesn't get any tax revenue. Although I guess it could borrow maybe?
 
michellebutterflyhotel said:
Well if we had to close the hotel I dont know how we could pay all the bills and rent etc. Worrying to say the least. Buisness interruption insurance doesn’t cover this disease either. I’m only a small buisness so don’t pay buisness rates. But I still have gas electric phone rent tv license ppl prs mplc water and so on to pay each month. How would I pay them ?
I get people’s health must come first but then there’s a real danger small businesses could go out of buisness due to this
Click to expand...
This is the conundrum that the government are trying to deal with.
 
michellebutterflyhotel said:
Well if we had to close the hotel I dont know how we could pay all the bills and rent etc. Worrying to say the least. Buisness interruption insurance doesn’t cover this disease either. I’m only a small buisness so don’t pay buisness rates. But I still have gas electric phone rent tv license ppl prs mplc water and so on to pay each month. How would I pay them ?
I get people’s health must come first but then there’s a real danger small businesses could go out of buisness due to this
Click to expand...
Bloody nightmare for you
 
michellebutterflyhotel said:
Well if we had to close the hotel I dont know how we could pay all the bills and rent etc. Worrying to say the least. Buisness interruption insurance doesn’t cover this disease either. I’m only a small buisness so don’t pay buisness rates. But I still have gas electric phone rent tv license ppl prs mplc water and so on to pay each month. How would I pay them ?
I get people’s health must come first but then there’s a real danger small businesses could go out of buisness due to this
Click to expand...

I have a similar business, Michelle and I'm in the same boat as you with all the monthly bills that need to be paid. Thing is if this goes to the levels we are seeing in Europe then these bills won't be paid, so then what? The Government really needs to come up with some sort of plan for this asap.

I think a start would be to freeze HMRC payments - VAT, PAYE etc - for three months at the very least.
 
The utility companies have millions of pounds in reserve, they can definitely afford 3 or 4 months of free supply. If China and South Korea are anything to go by then this could last that long.

Drastic contingency plans need to be put in place to allow all businesses the chance to survive. So if we are “locked down” then no wages are paid and the government pays SSP. For the population to then survive for 3-4 months we need a freeze on our expenditures.
 
Weirdly I cancelled my Sky Sports to end on Mar 31st (after the Posh game) because we wanted a few things doing on the house and needed to cut £150 from our budget (have to say quite easily). Lopped £30 off Sky, we downgraded our gym to a standard one and saved £70, got new broadband, electricity and car insurance deals and by the time we've finished I think we'd saved £200.
 
pooljimbo said:
I have a similar business, Michelle and I'm in the same boat as you with all the monthly bills that need to be paid. Thing is if this goes to the levels we are seeing in Europe then these bills won't be paid, so then what? The Government really needs to come up with some sort of plan for this asap.

I think a start would be to freeze HMRC payments - VAT, PAYE etc - for three months at the very least.
Click to expand...
I’m not vat registered as I’m only a small buisness and don’t have paye either as I have one self employed member of staff we do all the rest ourselves
I’m on a leasehold so the rent and bills not going to be paid if lockdown happens. Would I then be in breach of the lease because of the virus? How would this possibility be dealt with ?
 
For me, the entire world economy should be put on hold. It makes no sense at all for the entire world to be distracted by the prospect of economic meltdown during a global crisis.

Collaborate as required to deal with the issue, save lives, find a cure and reopen the economy when we’re done.
 
pooljimbo said:
I have a similar business, Michelle and I'm in the same boat as you with all the monthly bills that need to be paid. Thing is if this goes to the levels we are seeing in Europe then these bills won't be paid, so then what? The Government really needs to come up with some sort of plan for this asap.

I think a start would be to freeze HMRC payments - VAT, PAYE etc - for three months at the very least.
Click to expand...
I think that will happen this week.

As for anything else, it will be rough for a month then OK again, very quickly. I'd imagine Asia will return to normal extremely quickly.
 
michellebutterflyhotel said:
I’m not vat registered as I’m only a small buisness and don’t have paye either as I have one self employed member of staff we do all the rest ourselves
I’m on a leasehold so the rent and bills not going to be paid if lockdown happens. Would I then be in breach of the lease because of the virus? How would this possibility be dealt with ?
Click to expand...
I’m a private landlord and I would allow a freeze on my properties for 3-4 months, providing the other measures were adopted. I would hope other landlords would also show a similar level of leniency.
 
cruzzer said:
I’m a private landlord and I would allow a freeze on my properties for 3-4 months, providing the other measures were adopted. I would hope other landlords would also show a similar level of leniency.
Click to expand...
You seem a reasonable landlord but through experience most landlords are greedy bas***ds. That’s me being polite by the way
Our landlady at present we pay 1k per month the rent review every three years first one was last October. We got a letter from her solicitor ( even though she used to come Hotel everyday for a chat and a brew and weekends away with us ) she wanted the rent increasing from 12k a year to 20k we said Bollox to that an increase of almost 70%. A surveyor has been instructed so awaiting his review in the 3&1/2 years we’ve been there we have spent over 100k refurbing it from the 1970s to 2020 era
Electrics.windows boilers etcetc. Like I said greedy
 
Freeze the economy?

You might feel differently the next time you want a cab to take you to A&E.
 
cruzzer said:
????, easy I guess for some on huge government pensions hey Gobbie?

I’ll drive to A&E thanks for asking.
Click to expand...

And if you are too ill to drive? Maybe feverish and weak?

Nice to see the change of scenery hasn't changed you, by the way.
 
Michelle, you have our utmost sympathy. We had a leasehold B&B in the Lakes for 10 years, unreasonable Landlord whose negotiation technique was to threaten, no notice taken of the fortune we spent doing up their building. The missus and I were only saying last night how glad we were we sold it, FMD was bad enough, this may be worse.
 
Freeze the economy?

It’s odd how people want to suspend the rules and turn to socialism when there’s a crisis.

Edit to add - I recall 2008 when the bankers were keen on government bail outs. While everyone else had to put up with the free market. Now everyone wants a share.

Progress I suppose.
 
michellebutterflyhotel said:
You seem a reasonable landlord but through experience most landlords are greedy bas***ds. That’s me being polite by the way
Our landlady at present we pay 1k per month the rent review every three years first one was last October. We got a letter from her solicitor ( even though she used to come Hotel everyday for a chat and a brew and weekends away with us ) she wanted the rent increasing from 12k a year to 20k we said Bollox to that an increase of almost 70%. A surveyor has been instructed so awaiting his review in the 3&1/2 years we’ve been there we have spent over 100k refurbing it from the 1970s to 2020 era
Electrics.windows boilers etcetc. Like I said greedy
Click to expand...
I would say 90% (guess) on Vance, Hull, Charnley, Hornby, etc will be in the same boat. What are the government going to do if anything? Once one or two go it will be like falling dominoes.

Michelle - surely the rent review officer would oh sigh at that increase?
 
SpionKop said:
I would say 90% (guess) on Vance, Hull, Charnley, Hornby, etc will be in the same boat. What are the government going to do if anything? Once one or two go it will be like falling dominoes.

Michelle - surely the rent review officer would oh sigh at that increase?
Click to expand...
Yeah I’m sure he wouldn’t expect us to pay. 70% increase.
 
Tangerinemoss said:
Michelle, you have our utmost sympathy. We had a leasehold B&B in the Lakes for 10 years, unreasonable Landlord whose negotiation technique was to threaten, no notice taken of the fortune we spent doing up their building. The missus and I were only saying last night how glad we were we sold it, FMD was bad enough, this may be worse.
Click to expand...
Through her lawyers she’s actually asked us to buy it. My response was a firm NO after her making such an unreasonable rent review. She can shove it up her arris. I have my lease for another 6years 8 months so happy days I can make my money and retire then. I will of course strip the place bare of everything I e put in unless of course she wants to buy it all off me.
 
SpionKop said:
Sorry Michelle predictive text , should have read “laugh”
How is she justifying an increase of that amount, none sense
Click to expand...
Them are the questions the surveyor will be asking her. If she wanted 20k a year why set it at 12k ? He will also see all the improvements we have made which he will disregard and do the review on what it was like before I signed the lease. Also the fact she had it valued at £165k only 3 years later with our investment it’s value has increased significantly. I’ve sent over a schedule of improvements and the landlady has to but she hasn’t done any improvements like she was responsible for which will also go against her. Greedy greedy person
 
michellebutterflyhotel said:
Them are the questions the surveyor will be asking her. If she wanted 20k a year why set it at 12k ? He will also see all the improvements we have made which he will disregard and do the review on what it was like before I signed the lease. Also the fact she had it valued at £165k only 3 years later with our investment it’s value has increased significantly. I’ve sent over a schedule of improvements and the landlady has to but she hasn’t done any improvements like she was responsible for which will also go against her. Greedy greedy person
Click to expand...
The rent officer will go off the rent amounts of your street for similar properties and surrounding streets and yours would be the most expensive by some distance. I would be absolutely flabbergasted if that increase got through. Did they run the hotel before you took over?
 
cruzzer said:
If this crisis gets worse and goes on for a prolonged period then in my opinion the whole economy should be frozen.

Points would be;
  • All mortgage payments put on hold
  • No utility bills
  • No council tax bills
  • Food sold at cost
  • Fuel sold at cost
Most would then be able to survive on SSP saving companies from paying wages.

Drastic measures perhaps but could mean there are businesses left when this blows over.
Click to expand...
Wasnt that the Labour manifesto at the last election.
 
SpionKop said:
The rent officer will go off the rent amounts of your street for similar properties and surrounding streets and yours would be the most expensive by some distance. I would be absolutely flabbergasted if that increase got through. Did they run the hotel before you took over?
Click to expand...
They had leased it out twice before us and both the couples were alcoholics. When I took it over there wasn’t one booking in there and I ve built it up to an amazing buisness with lots of repeats and regular visitors.
the hotel next door pays £68 per month more than us but ... he sleeps 7 guests more than us each night he also has four car parking spaces that he charges for. I’ve no parking. The rent also includes all his insurance premiums All my insurance I have to pay separately over 1k per year.
Just by him having having an extra 7 guests that alone covers his rent
For example. 7 guests for two nights pay £50 each thats £350 times that by 4 weeks £1400 per month more
 
HappyasLarry said:
How about
  • No Lottery
  • No Gym Memberships
  • No Sky TV
  • No Netflix
Seems to me we all have things we could cut back on if necessary before we stop paying for essential services.
Click to expand...
Add that lot up and it doesn't cover most people's mortgages,let alone anything else.
 
You must log in or register to reply here.
Back
Top