Quote: wrencat1873 "The loan scheme is actually a crazy idea.
The very thought of a business, that has run out of cash and taking on water, then borrowing to see them through an unspecified length of time, would be crazy.
Unless there was an end in sight to the virus problem, many businesses would be better placed to close their doors and liquidate and then perhaps start again when things return to normal.
If the virus issues were just going to be a few weeks then ,this would be different but, unfortunately, this thing isn't going to suddenly disappear, which will leave many businesses floating upside down It's scary, very scary.'"
The loan scheme would be good if the interest rates were below commercial levels e.g. 1-2% then it is almost free money - just to give 350bn to business would be crazy - all they will do is reduce headcount and reduce debt. There has to be conditions that if you access the monies headcounts have to be maintained first and foremost. Yes take measures around recruitment, overtime etc but businesses have to keep going or we will all be sunk.
The only way I get paid is if my customers can keep trading and generating cash - I understand about not mixing but life must continue - if you must isolate the elderly so be it but the rest of us need to continue life as normal - if we get it it will be life the flu which most of us have had in the past and survived.