How're you planning on spending your seiss?

[Deleted User]

How am I planning to spend my SEISS ?

It will be used just the same as if I had earned it ; it will be divided into the various accounts I have to pay HMRC, the current accounts, and the savings accounts.

What it won't be seen as is a windfall that I can fritter away.

I'm sure the majority of self employed aren't seeing it as a sum to spend on whatever they like, if they are then their business acumen leaves a lot to be desired.

monaymadlol

Remember, it is taxable too. Always giving with one hand taking with another.

bradders1983

monaymadlol said:

Remember, it is taxable too. Always giving with one hand taking with another.

Or, they could give you all nothing. Moan moan moan. 

Grumpy_chap

Hermann said:

Whilst it may seem incredibly unfair if the overall aim is to stimulate the economy and generate demand then giving a bonus to those who aren't absolutely desperate will do just that.

An unexpected £7500 windfall is going to get spent and generate jobs and tax receipts.

If you just gave it to those absolutely desperate then all it would get spent on are the basics, rent, mortgage, utility bills etc. which won't benefit 'the economy' in the same way.

I don't think the intention of SEISS (or CJRS) was to stimulate the economy, but to protect individuals from default - the schemes will also stimulate the economy as a side outcome.

I also do not agree that giving a bonus to those that aren't absolutely desperate will stimulate the economy more than giving extra to those absolutely desperate.  The economy is stimulated when people spend, on anything, it just needs spending to keep the money moving and all the while the money moves the economy is stimulated.  This is because of the Marginal Propensity to Consume (MPC).

An MPC of 1 means that every pound is spent when received.  An MPC of 0 means that every pound is saved.

• Someone that is desperate and given an extra £1 will spend that pound on something.  High MPC, maximum economic benefit / stimulus.
• Someone who is well off and given and extra £1 will not spend all of it, so what is not spent is saved.  Low MPC, low economic benefit / stimulus.

Also, at times following a financial crisis, the MPC of those that are desperate stays at / very near to 1 as they have no option other than to spend.  Those with a bit more of a buffer generally following a crisis have a lower MPC as they are suddenly motivated to protect themselves against a future 'hit' so their propensity to save increases, and they seek to restore past financial resilience that they may have had and reduced by the crisis.  Thus reduces the MPC for those no in absolutely desperate need below their underlying pre-crisis MPC.  

[Deleted User]

bradders1983 said:

monaymadlol said:

Remember, it is taxable too. Always giving with one hand taking with another.

Or, they could give you all nothing. Moan moan moan. 

Charming.
Not all of us self employed moan about our lot.

sharpe106

Think that was more aimed at the poster, rather then self employed people in general.

josewise

 said:

Using government money to buy a car, go on holiday or put into savings - this thread is a fishing attempt, right?

Lol, that is funny

bradders1983

josewise said:

 said:

Using government money to buy a car, go on holiday or put into savings - this thread is a fishing attempt, right?

Lol, that is funny

Are you spamming every thread with one liners now?

Splatfoot

We won't be receiving 7500. More like 2000 for us. We'll be using it to pay a trade bill that we had to put on hold, to pay my 13 year old son his savings back and to perhaps pay a bit more off the mortgage as we've had to take a payment holiday.