Hoarding Covid business loans.

in #covid4 years ago

https://www.dailymail.co.uk/news/article-9055081/HALF-Rishi-Sunaks-42billion-Covid-business-loans-hoarded-firms-bank-accounts.html

What the fuck are people supposed to do?

Spend money on extra stock? Refurbishment? its there to cover expenses and staff costs. It's there when we need it - its not an invite to buy a fucking BMW.

This money is there to shore up a business, so it avoids insolvency. But the irony is of course that you get maximum bang for your buck by declaring insolvency - because the loan is guaranteed by the government. As Mandy would say, its a moral trap.

Keeping money you have for when you need it isn't stupid. You could have been a Tier Two restaurant in London laying in the truffles and oysters for Christmas Eve with that money.

Running as close to a bare bones operation as you can means you will be here to pay that money back.

But apparently the government don't care. Daily Mail certainly doesn't. I guess we now know that both organisations would prefer people to say fuck it and saddle somebody else with the bill.

Because that's what they'd do.

Welcome to covid capitalism