Free Money?

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jimbo
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Free Money?

Post by jimbo »

I have heard a crazy suggestion that the UK government may give us £500 in vouchers to "buy" something to "help" the economy....

personally I think it is daft...it's just more debt the country will be in....however if I took it...I would try and spend it on my next "CW" watch....

It is suggested that not for "internet" purchases....so I am lucky enough to live within an hour and a half drive from CW towers ....so buying in person is not "internet"...a "British" (hand over heart, standing proud) company

Failing that what would you spend it on?....maybe for me upgrading the stereo system on my beloved MX5. or some fog lights or luggage rack

But what watch would be a decent watch (any brand) for 500 notes??????
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Re: Free Money?

Post by jkbarnes »

I received a rather sizable relief check here in the US. As my financial position was, and still is, stable, I decided to put that money back into the economy. Rather than buy some big ticket item I’d been longing for, I spent as much as I could locally at small businesses. I spent a decent chunk just buying gift cards from local businesses that had to close due to the quarantine. (And a big chunk going to the local repair man to fix my AC that died!)
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Re: Free Money?

Post by jtc »

I believe it when I see it! Even if the voucher scheme does materialise, we'll be paying it back and then some in taxes and duties for a long time to come.
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Re: Free Money?

Post by exHowfener »

Didn't the Australian government do something along those lines during the last recession?
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Re: Free Money?

Post by willttqs »

Why do the government have to pay it back? They print it , no one else can.

Welcome to me modern monetary theory.
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Re: Free Money?

Post by Lavaine »

jkbarnes wrote: Mon Jul 06, 2020 5:52 pm I received a rather sizable relief check here in the US. As my financial position was, and still is, stable, I decided to put that money back into the economy. Rather than buy some big ticket item I’d been longing for, I spent as much as I could locally at small businesses. I spent a decent chunk just buying gift cards from local businesses that had to close due to the quarantine. (And a big chunk going to the local repair man to fix my AC that died!)
Bravo sir! Stimulus checks are of great importance for those that need them. For everyone else I think the responsible thing to do is to support local, small businesses in whatever way you think is appropriate.
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Re: Free Money?

Post by H0rati0 »

willttqs wrote: Mon Jul 06, 2020 7:12 pm Why do the government have to pay it back? They print it , no one else can.

Welcome to me modern monetary theory.
They do not print it, it is borrowed. A bank "note" is a debt instrument and all "money" anywhere in the world has been borrowed into existence since 1971 except circulating currency from a mint which is paid for with seigniorage.
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Re: Free Money?

Post by willttqs »

I am not sure all governments are too worried about whether it is ‘borrowed’ or not as it is unlikely that governments will ever ‘pay back’ the size of their national debts. Look at Japan for example.

The money that is created/borrowed is all used to move the economy onwards
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Re: Free Money?

Post by TigerChris »

500 quids worth of ale, split between several local hostelries - supporting my local landlords for free sounds like a good plan to me
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jkbarnes
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Re: Free Money?

Post by jkbarnes »

TigerChris wrote: Tue Jul 07, 2020 4:02 pm 500 quids worth of ale, split between several local hostelries - supporting my local landlords for free sounds like a good plan to me
Perfect!
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Re: Free Money?

Post by Bahnstormer_vRS »

Nothing in life is ever free; you'll pay for it one way or t'other, sooner or later.

Think of it as a Tax Rebate, then the tax is recalculated a year or so down the line and you have to pay it back!

As to what to spend it on?

I'm sure CW have got some juicy new releases lined up for later this summer / early autumn (I too live within an hour and a half of CW Towers), alternatively I have a week's holiday to Northumberland booked for mid-September, will use is as my spending money.

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nbg
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Re: Free Money?

Post by nbg »

During lockdown we have purchased more from a farm shop and a local wine retailer, both of which we only visited occasionally pre Covid-19.

Far better meat and wine than Supermarket or the chain wine retailers.

So I think I would stick with placing a couple of orders with them, rather than big businesses.

The alternative would be spending it on a couple of nice meals in favourite restaurants.

Certainly wouldn’t even think of spending it on a non essential watch.

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Thegreyman
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Re: Free Money?

Post by Thegreyman »

I’ll believe it when I see it if we get £500 “free” from the government. Considering the amount of tax I have paid in my life however, I won’t feel guilty (in the highly unlikely event it happens) about spending it on whatever I want.
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Re: Free Money?

Post by missF »

Local businesses for me, though I don’t eat out or go to pubs, and I don’t need anything over and above what I have. I may end up buying lots of coffee from my friend’s friend’s coffee shop, and subvert the whole system by not spending the rest :thumbup:
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Re: Free Money?

Post by what-time-is-it »

Discounted meals from the Chancellor - a good move imho alongside the other measures, but this crisis gets more bizarre every day.
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