What happens afterwards?

The news is full of the Government helping pay wages to those unable to work due to the current Coronavirus pandemic. If I understand correctly, they intend to pay 80% of salaries up to £2,500 per month. The Self Employed are now included in this helping hand, non-repayable grants based on the past three years average earnings. Anyone having an average income of over £50,000 will not benefit. Payment will be made in July backdated to March, but whether this is to be a single one off is not clear.

Money is lost on me these days. I can’t get my head round it, what people are earning, what people are spending, and seriously wonder how Hubby and I have managed all these years and are still expected to do so.
When I was working, my last job paid £17,000 pa after five years and a promotion, which was still £6K a year less than what I was earning when made redundant in 2001. My works pensions was one of the last based on final salary, which was 10% of my basic pay per annum.  That, and two pathetic annuities totalling £150 A YEAR  is my total income, which is less than four thousand pounds a year, and that includes a top up of £50 pm to ‘tide me over’ until my State Pension kicks in and will then be deducted. I could not survive on that on my own.

The Chancellor’s Budget was give, give, give. But not once did he mention how he was going to get the revenue to fund these windfalls/bonuses/increases/grants/money pots, whatever you’d like to call them.
Well, the shit has hit the fan, and to be honest, ducking won’t help and I’m worried as to where that will leave us, and tens of thousands of people like us, when this crisis is over……. if they survive it.
No doubt a lot of people paid for their panic buying sprees on their credit card. This has led to shortages of the necessities nationwide which we are all paying for, and now unable to go to work, those stockpilers will not be able to pay off their debts, or be able to give them priority due to their ‘current lifestyle’.  There are help packages planned for mortgage payers and businesses.
Now add another 500,000 claimants for Universal Credit by those better off than most anyway, and an already draining benefits system will be hammered.

Austerity measures will be reintroduced, if they were ever removed in the first place. Hubby already lost 60% of his disability allowance last October if you recall.
A headline, which has now miraculously disappeared off the internet, suggested ideas of where our Chancellor might get his funding from. The biggest contender was by increasing taxes.
By increasing income tax, that won’t affect everyone as the Tories’ proud boast is how many people/families they have taken out of the tax bracket. It was noted the Chancellor did not put up personal allowances (income before taxation) this year.
From a monetary point of view, taxation is the logical approach as by raising INDIRECT taxes, like our utility bills, heating, communication, food, fuel and everything everyone has to pay for, he will rake it in.
Putting VAT up, or applying it to everything at the same rate will also bring in more revenue and the Heat or Eat existence will rocket.
State Pensions……………….. already I have had to wait an extra 6 years to get mine, and Hubby an extra year. Who is to say they will not move the goalposts again and extend the State Pension age for our age group?
Remember Robert Maxwell and what was discovered after his death in November 1991?

Currently, according to the government’s own website, we are already in severe poverty.
We manage. How, I have no idea, but we do.
Should we have to reply on our works pensions only, this will plummet us off the radar beyond abject poverty as our joint income will be below the minimum wage for an individual. We get no help as I was a fool prudent and saved for a rainy day. It was supposed to be MY rainy day, not the bloody government’s, but even my meager savings may be in jeopardy, even though they are nowhere near the threshold for the FSCS’s promise of protection!
Which brings us to the banking system, and the proposal to end free banking.
Already it has drastically changed since I left the banking world and I am so very out of touch. Depositing cheques on your phone ap? No clearing houses? Internet banking?
More automated transactions/enquiries and few floor staff.

There are so many ways we can get clobbered on an already minimal existence. I am good with money………. scrap that, I’m a  F***ing brilliant money manager…………… but I can do bugger all if it ain’t coming in in the first place.

About pensitivity101

I am a retired number cruncher with a vivid imagination and wacky sense of humour which extends to short stories and poetry. I love to cook and am a bit of a dog whisperer as I get on better with them than people sometimes! We have recently lost our beloved dog Maggie who adopted us as a 7 week old pup in March 2005. We decided to have a photo put on canvas as we had for her predecessor Barney, and now have three pictures of our fur babies on the wall as we found a snapshot of my GSD so had hers done too. From 2014 to 2017 'Home' was a 41 foot narrow boat where we made strong friendships both on and off the water. We were close to nature enjoying swan and duck families for neighbours, and it was a fascinating chapter in our lives. We now reside in a small bungalow on the Lincolnshire coast where we have forged new friendships and interests.
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18 Responses to What happens afterwards?

  1. willowdot21 says:

    My brain hurts 💜

  2. fransiweinstein says:

    These are terrifying times, I agree. We’re all in trouble, no ifs, ands or buts about it. I am trying hard to take it a day at a time because thinking beyond that doesn’t work because we just have no idea of what to expect next and how it will impact us.

    • We are good at organising, saving and preparing when we know the status quo. All I can do is go on the way we are. In a way it’s a means to save as we simply are not going out, neither are we shopping every couple of days or so. Two day chili, 3 day stew, Sunday fish for Hubby and tomato pasta for me, then another three day stew to use up the fresh veg, then we can do another weekly shop and hopefully get some fresh chicken for a curry rather than use what’s in reserve in our small freezer.

      • fransiweinstein says:

        I’m saving as well because I’m staying in, and now even if I wanted to cafes and restaurants are closed — they can only deliver — and I’m not ordering from restaurants. I like beans and lentils and pasta and have found some good recipes so I’m eating a lot of that, rather than trying to fight the hoards fighting over meat and fish. I have some frozen fruit and veg and I’m using that. And that’s actually saving some money as well because it costs less and goes much further. I am eating well and it’s all healthy and I’m not missing what I can’t get. Whatever it takes for them to get this under control.

      • My sentiments exactly.

      • fransiweinstein says:

        The virus can only be controlled if we all do as we’re being asked. There is no other way, there are no medications to treat or prevent it yet. So it’s up to each of us. And until the virus is under control there is no hope that the economy will stabilize, let alone improve. So I will stay home as long as I have to and I’ll make do with what provisions I can get. I’m good with that.

      • Likewise. We are keeping to ourselves and only going out with the dog when it’s quiet, and shopping in the evening once a week.

      • fransiweinstein says:

        Really none of us, regardless of where we live, have a choice so we might as well accept it graciously and do what we have to do. This is a crisis. We have to be responsible and part of the solution — not part of the problem. I have zero patience with those who are ignoring the “rules.”

      • Me too. I always said I would do as I was told in a crisis and I am.

      • fransiweinstein says:

        Me too.

  3. murisopsis says:

    Sparky and I are retired. Our social security won’t start for another 5 years and I can’t draw my pension for another 3 years… We will be okay as long as we remain frugal. And my middle name is thrifty with a confirmation name of frugality. I was very worried about my sons – son#1 is in an essential industry and is still working. Son#2 has been out of work since the 18th of this month but his employer has stated that all full time employees will be paid for the duration. This has been a big relief as a mother I do worry…

    • I can imagine, and understand your circumstances. I should have got my pension in 2016 when I was 60, but they put my age group back to 2022! I just hope they don’t change it again, though it wouldn’t surprise me. Keep safe.

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