Bransons (And Others) Bail Out

[Ric.ror]

Won’t Branson and Mrs Beckham have to pay the government back for their loans? I dared not ask this on news - they’d be on me like a pack of wolves ;-))

[fiction-factory]

If it's a loan, yes. I thought VB was furloughing staff though- she wouldn't have to pay that back

[ToraToraTora]

yes the clue is in the word "loan".

[Ric.ror]

Thanks for your answers - I hope Rushi can be canny enough to get it worded so that they will have to pay it back furlonged or whatever - and before they decide to do a Meghan and Harry and leave the ship

[THECORBYLOON]

The money paid as part of the furlough scheme is a grant and does not need to be repaid.

[AuntPollyGrey]

Usually questions like this are asked by those who have no idea how businesses work. These businesses are not 'Branson' or 'Beckham' they are legal organisations who happen to have well known people on their Board. Branson and Victoria B are not personally getting a loan, so will not be personally paying it back. Frankly its neither here nor there where they live either, its where the businesses are registered. Personal wealth does not come into it either, as the loan is based on the business not the CEO's financial status.

[Ric.ror]

Thing is even the furlonged money will have to be paid back eventually probably by all of us - as we know the government does not have any money of its own. I would have loaned all the money and reduced the repayments to say 1p in the £1 - which is I suppose a tax increase

[AuntPollyGrey]

Are you against the furlough scheme or only against those Companies who have high profile directors? I can't understand what you mean by 'them' doing a Megan & Harry. It is of no consequence to the furlough scheme where Directors of Companies live, in the UK USA South America, its where the Company is based and where its employees pay their personal Tax. Yes the British Tax payers will eventually pick up the bill for furloughed employees of British Companies -and if Branson and VB are British Tax payers at that time then they will be affected, regardless of where they live.

[Peter Pedant]

// yes the clue is in the word "loan"//

foo ! where you pay it back because it is a foo-ing loan? yeah?

there is a well known tax fraud wiser and more savvy ABers are referring to - where it is peddled as a loan in one set of books and then forgiven a year or so later

the clue is in the word loan

[o I luv it when free-tee cracks a possy crushing unanswerable zippy one liner and it turns round and bites him]