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| Quote ="Sal Paradise"Rent, rates, staff, insurance, utilities, security R&M etc. all the usual business overheads'"
54K a month, 60% of turnover, some pretty naff business model.
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| Quote ="IR80"54K a month, 60% of turnover, some pretty naff business model.'"
I’d be surprised if staff costs alone didn’t account for close to 60% of turnover at the company I work for.
Pay less and we couldn’t recruit or retain people as we need to. Try to charge clients much more and they’ll go to our competitors.
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| Quote ="POSTL"If ive got this right and following the announcement by the Foreign Office today via Mr Raab, that advises that we don't travel abroad unless absolutely necessary.
Therefore, If we don't go on a previously booked trip on government advice, we cannot claim on our travel insurance because the government hasn't told us we can't go just advised not to.
We cannot claim on the booking agent if they are still willing to take us.
So if we do go so as not to lose our money, the government can wipe their hands of us if that country brings in restrictions because they advised us not to go in the first place.
Or am I just being cynical'"
The only way you can claim off a travel policy is if your flight is cancelled because the government of the U.K. or the country you are visiting stop all flights or entry. If you decide just not to without either of these conditions then you will lose your money.
I am due to travel to Portugal in April and I have been offered a chance to change my flights but if I did so now I could not reclaim any other costs.
It is the same with BI cover, I believe the government said you can claim however I hope they have agreed this with the insurance sector.
With regards travel cover if you have not taken out cover by now I regret the virus will be excluded.
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| Quote ="POSTL"If ive got this right and following the announcement by the Foreign Office today via Mr Raab, that advises that we don't travel abroad unless absolutely necessary.
Therefore, If we don't go on a previously booked trip on government advice, we cannot claim on our travel insurance because the government hasn't told us we can't go just advised not to.
We cannot claim on the booking agent if they are still willing to take us.
So if we do go so as not to lose our money, the government can wipe their hands of us if that country brings in restrictions because they advised us not to go in the first place.
Or am I just being cynical'"
If you have something booked for the next 2 months or so, wait. It's highly likely there will be almost zero aircraft in the skies in a week or two as airlines start to ground fleets and therefore cancel almost all flights. Many have grounded significant proportions of their fleets, some have stopped operating altogether. Some will never come back from this, but that's another discussion.
If the airline or tour operator cancels, you get a full refund. If you cancel while the flight is still scheduled to operate, you only get money back as per fare rules, perhaps minus a fee or only just a few taxes - often regardless of political advice at either end. Some airlines are holding out on some routes and keeping the flights scheduled in the hope passengers will cancel and they keep the money. Emirates is one. We'll have to see if they cancel at short notice.
If they offer a free change to later in year - up to you. Take it or insist on a full refund, after all they can't fulfil the flight.
Will insurance pay? Depends on your policy. Based on the "all but essential travel" advice some will - but some won't. No policies taken out from this week will.
And remember things are changing hour to hour. It may - and probably will - reach the point of instruction rather than advice, and then total lockdown in which case insurance should almost certainly pay if the airlines play hardball.
Right now anyone living in the UK travelling overseas for anything other than a truly critical or COVID19-related reason needs a slap.
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| Quote ="IR80"laughable, even for a complete hard of thinking individual like you. I understand TURNOVER, and 90K TURNOVER should yield a PROFIT. Stick to your sanatogen and werthers diet, you petrify me with your closed mind idealist view, ignoring how the world [ireally[/i works. I hope envy and hate of all things progressive and profitable keeps you warm at night.'"
Oh dear, called out for being horribly wrong and you've lost the plot.
I'm ok with people having different political views but, blind stupidity is another thing altogether.
There are many businesses that have a huge turnover but dont make a penny or that make very little net profit and thee are some quite small businesses with relatively small turnover that make significant returns.
However, most, if not every business would struggle if their turnover dropped by 90% overnight but, the comments that you posted were just ridiculous.
You talk about my mind being closed and whatever else but, you haven't got a clue.
You even suggest that my mind is "closed", because my politics are different.
The people with closed minds are those that dont listen and cant see and I'm pretty good at both of those.
I wish there were enough other people who were willing to pay personal and business taxes as I do but, you probably dont even understand the concept.
At least you've given us all a laugh tonight.
A little phrase for you, Turnover for vanity, profit for sanity
Translated: it doesnt matter how big your turnover is if you dont make any money - you can use that down the pub tomorrow.
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| Quote ="IR80"what has he been doing with the 85K a month?
People seem to forget that "The Government" is you and me when it comes to money, IF he has been making even 20% profit and not saving or investing, why do I bail him out?'"
It seems our resident hypercapitalist doesn't know the difference between turnover and profit.
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| Quote ="IR80"where are these costs coming from if they are not trading?'"
Perhaps you'll find out soon, when the company that is unfortunate enough to employ you (hopefully not as an economist or accountant) lay you off; you might then understand the concepts you are arguing against.
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| Quote ="wrencat1873"Oh dear, called out for being horribly wrong and you've lost the plot.
I'm ok with people having different political views but, blind stupidity is another thing altogether.
There are many businesses that have a huge turnover but dont make a penny or that make very little net profit and thee are some quite small businesses with relatively small turnover that make significant returns.
However, most, if not every business would struggle if their turnover dropped by 90% overnight but, the comments that you posted were just ridiculous.
You talk about my mind being closed and whatever else but, you haven't got a clue.
You even suggest that my mind is "closed", because my politics are different.
The people with closed minds are those that dont listen and cant see and I'm pretty good at both of those.
I wish there were enough other people who were willing to pay personal and business taxes as I do but, you probably dont even understand the concept.
At least you've given us all a laugh tonight.
A little phrase for you, Turnover for vanity, profit for sanity
Translated: it doesnt matter how big your turnover is if you dont make any money - you can use that down the pub tomorrow.'"
Cash is king!!
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| Quote ="IR80"54K a month, 60% of turnover, some pretty naff business model.'"
Really what would you suggest is a good EBITDA % return?
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| Quote ="Cronus"If you have something booked for the next 2 months or so, wait. It's highly likely there will be almost zero aircraft in the skies in a week or two as airlines start to ground fleets and therefore cancel almost all flights. Many have grounded significant proportions of their fleets, some have stopped operating altogether. Some will never come back from this, but that's another discussion.
If the airline or tour operator cancels, you get a full refund. If you cancel while the flight is still scheduled to operate, you only get money back as per fare rules, perhaps minus a fee or only just a few taxes - often regardless of political advice at either end. Some airlines are holding out on some routes and keeping the flights scheduled in the hope passengers will cancel and they keep the money. Emirates is one. We'll have to see if they cancel at short notice.
If they offer a free change to later in year - up to you. Take it or insist on a full refund, after all they can't fulfil the flight.
Will insurance pay? Depends on your policy. Based on the "all but essential travel" advice some will - but some won't. No policies taken out from this week will.
And remember things are changing hour to hour. It may - and probably will - reach the point of instruction rather than advice, and then total lockdown in which case insurance should almost certainly pay if the airlines play hardball.
Right now anyone living in the UK travelling overseas for anything other than a truly critical or COVID19-related reason needs a slap.'"
Thank you for the advice, Luckily were not travelling until October, and could get messy if its not all sorted by then as were travelling to 3 different destinations and they have all been booked separately. Also and on the advice of Martin Lewis we took out insurance a couple of weeks ago. However, for people about to go on holiday I do think the advice from the Foreign office was a bit wooly by only advising UK citizens not to fly.
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| Quote ="Scarlet Pimpernell"The only way you can claim off a travel policy is if your flight is cancelled because the government of the U.K. or the country you are visiting stop all flights or entry. If you decide just not to without either of these conditions then you will lose your money.
I am due to travel to Portugal in April and I have been offered a chance to change my flights but if I did so now I could not reclaim any other costs.
It is the same with BI cover, I believe the government said you can claim however I hope they have agreed this with the insurance sector.
With regards travel cover if you have not taken out cover by now I regret the virus will be excluded.'"
That was my. point, the UK government only advising not to travel doesn't help a lot, surely would have been much better to have said we cannot travel until (say) the end of April. Were not flying until October but already have our insurance just incase
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| Quote ="Sal Paradise"Really what would you suggest is a good EBITDA % return?'"
newsflash, we are not in the US...
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| Quote ="IR80"newsflash, we are not in the US...'"
They only use EBITDA in the US? 5h1t the bed - I've been doing my MA wrong for the past 10 years...
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| Quote ="IR80"newsflash, we are not in the US...'"
OK what would you consider to be a good Net profit % - do you know the difference between EBITDA and net profit?
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| Quote ="IR80"newsflash, we are not in the US...'"
The US doesn’t generally recognise it.
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| I have the basic sky sports subscription specifically for super league. Obviously that’s the only reason I use this service. So now I am paying for a service I am not receiving. Not certain if I should suspend payments.
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| Quote ="Backwoodsman"I have the basic sky sports subscription specifically for super league. Obviously that’s the only reason I use this service. So now I am paying for a service I am not receiving. Not certain if I should suspend payments.'"
Yes you can - they have sent a circular out saying you can suspend payment for Sky sports
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| Quote ="Sal Paradise"Yes you can - they have sent a circular out saying you can suspend payment for Sky sports'"
Thanks for the heads up. As I have logged previously when this is all over the business world will be decimated. Picking itself up will be a major challenge. Since my previous missive about the drop of turnover of someone I know. Since then i know of 1 bar and 1 restaurant closed down indefinitely. Obviously when these places close there is a knock on effect with suppliers to these establishments.
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Observations from the last few days.
Anyone stockpiling or profiteering should be shot on sight.
People are starting to understand. Slowly. There are still too many idiots out there thinking it doesn't apply to them.
The government is doing a sterling job. This week's measures will save millions of jobs and businesses. The damage is still going to devastating but these levels of support are reassuring. Many thousands in my sector have been laid off already, these measures could save most of them as they can be applied retrospectively even if already laid off.
The Guardian is most despicable, divisive, fear-mongering feckin pathetic rag. Makes the Mail looks positively saintly.
12 weeks (or more) at home is gonna be a bstard. But not as much of a bstard as frontline NHS workers are about to face. Calm before the perfect storm.
Is the government's strategy correct? My question in response to that would be - so Taiwan (and other places) have shut down and contained things really, really well - but what then happens as soon as they relax and the population floods back out there and flights recommence and some bugger jets in breathing COVID19 all over the place? They're back to square one, whether in May/June/July or end of the year and a vaccine before then is unlikely.
We are timing things carefully. Shut down too early and it's pointless. People cannot and will not isolate for more than a couple of months, and the population is still susceptible. Shut down too late and...it's too late. Isolate the vulnerable early and then shut down at the right time and you will already have people recovering and therefore immune and able to get back to work. The virus then also spreads far more slowly enabling the NHS to manage as best it can.
You cannot contain or escape this virus, you have to accept that and manage the outcome as best you can.
They've denied herd immunity is part of the strategy but it was let slip and to be fair it makes sense. The problem is that means exposing some people who will die, and society cannot handle that. Some people - quite a lot - are going to die whatever happens. I'm not sure why that was such a shock when Boris said it.
This is a great demonstration of how it works (albeit the models don't eliminate the deaths): https://www.washingtonpost.com/graphics ... simulator/
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Observations from the last few days.
Anyone stockpiling or profiteering should be shot on sight.
People are starting to understand. Slowly. There are still too many idiots out there thinking it doesn't apply to them.
The government is doing a sterling job. This week's measures will save millions of jobs and businesses. The damage is still going to devastating but these levels of support are reassuring. Many thousands in my sector have been laid off already, these measures could save most of them as they can be applied retrospectively even if already laid off.
The Guardian is most despicable, divisive, fear-mongering feckin pathetic rag. Makes the Mail looks positively saintly.
12 weeks (or more) at home is gonna be a bstard. But not as much of a bstard as frontline NHS workers are about to face. Calm before the perfect storm.
Is the government's strategy correct? My question in response to that would be - so Taiwan (and other places) have shut down and contained things really, really well - but what then happens as soon as they relax and the population floods back out there and flights recommence and some bugger jets in breathing COVID19 all over the place? They're back to square one, whether in May/June/July or end of the year and a vaccine before then is unlikely.
We are timing things carefully. Shut down too early and it's pointless. People cannot and will not isolate for more than a couple of months, and the population is still susceptible. Shut down too late and...it's too late. Isolate the vulnerable early and then shut down at the right time and you will already have people recovering and therefore immune and able to get back to work. The virus then also spreads far more slowly enabling the NHS to manage as best it can.
You cannot contain or escape this virus, you have to accept that and manage the outcome as best you can.
They've denied herd immunity is part of the strategy but it was let slip and to be fair it makes sense. The problem is that means exposing some people who will die, and society cannot handle that. Some people - quite a lot - are going to die whatever happens. I'm not sure why that was such a shock when Boris said it.
This is a great demonstration of how it works (albeit the models don't eliminate the deaths): https://www.washingtonpost.com/graphics ... simulator/
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Good post Cronus.
I think this crisis is a good way of shining a light on peoples' character. You very quickly see who thinks "me me me" and who has a sense of duty/community. Amongst the people I know/ my facebook feed etc the correlation I have noticed is that the ones who are usually the loudest to bang on about "patriotism" and "we should put British people first", are the ones who are now least willing to make any compromise in their lives that might help protect vulnerable or elderly people in their community.
You have summed up the basic trade-off well and basically that argument is what underpinned the Imperial college modelling that is now driving the government's strategy: https://www.imperial.ac.uk/media/imperi ... 3-2020.pdf
One interesting challenge will be, if the social distancing measures are TOO successful, it will undermine support for the measures themselves. What about if it all works, and the death count slows to a trickle. Everyone will start saying "come on, its just like the flu whats all the fuss about, let us get back to work".
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Good post Cronus.
I think this crisis is a good way of shining a light on peoples' character. You very quickly see who thinks "me me me" and who has a sense of duty/community. Amongst the people I know/ my facebook feed etc the correlation I have noticed is that the ones who are usually the loudest to bang on about "patriotism" and "we should put British people first", are the ones who are now least willing to make any compromise in their lives that might help protect vulnerable or elderly people in their community.
You have summed up the basic trade-off well and basically that argument is what underpinned the Imperial college modelling that is now driving the government's strategy: https://www.imperial.ac.uk/media/imperi ... 3-2020.pdf
One interesting challenge will be, if the social distancing measures are TOO successful, it will undermine support for the measures themselves. What about if it all works, and the death count slows to a trickle. Everyone will start saying "come on, its just like the flu whats all the fuss about, let us get back to work".
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| [url=https://www.bbc.co.uk/news/health-51979654like has been said, overegged numbers[/url
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| Quote ="Cronus"Observations from the last few days.
The government is doing a sterling job. This week's measures will save millions of jobs and businesses.
Snip
/'"
Government playing a blinder not according to this doctor and many others.
Lisa Anderson, a consultant cardiologist at St George’s Hospital in London, echoed Hunt’s concerns. She said the Government had changed the rules so they where no longer compliant with World Health Organisation recommendations, which required medics to wear a full gown and visor.
She said that since Monday, staff in the NHS only had to wear a simple face mask, short gloves and a pinafore apron. “This is not just about the risk to ourselves and our families. We are travelling home on the Tube, on buses,” she told the BBC Radio 4 Today programme.
The decimation of the public sector over the last 10 years. The complete cock up at the beginning by the government in not announcing proper measures saying we know better than every country in the world we will slow it to build up herd immunity . A model that was developed initially was based on normal flu not covid and the numbers who need ICU.
Boris cocked it up big time and now Doctors and frontline NHS staff are paying the price.
My ex wife is a doctor working with the elderly they have no Gel left to disinfect their. Hands.
My sister is a practice nurse and they have no masks .
But you keep promoting your Tory and blame engine who criticises the government as a fifth columnist.
Nothing I would not expect from you. You won’t be happy until government critics are rounded up and charged with treason.
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| Quote ="Durham Giant"icon_biggrin.gif Government playing a blinder not according to this doctor and many others.
Lisa Anderson, a consultant cardiologist at St George’s Hospital in London, echoed Hunt’s concerns. She said the Government had changed the rules so they where no longer compliant with World Health Organisation recommendations, which required medics to wear a full gown and visor.
She said that since Monday, staff in the NHS only had to wear a simple face mask, short gloves and a pinafore apron. “This is not just about the risk to ourselves and our families. We are travelling home on the Tube, on buses,” she told the BBC Radio 4 Today programme.
The decimation of the public sector over the last 10 years. The complete cock up at the beginning by the government in not announcing proper measures saying we know better than every country in the world we will slow it to build up herd immunity . A model that was developed initially was based on normal flu not covid and the numbers who need ICU.
Boris cocked it up big time and now Doctors and frontline NHS staff are paying the price.
My ex wife is a doctor working with the elderly they have no Gel left to disinfect their. Hands.
My sister is a practice nurse and they have no masks
But you keep promoting your Tory poop and blame engine who criticises the government as a fifth columnist.
Nothing I would not expect from you. You won’t be happy until government critics are rounded up and charged with treason.'"
Tbf, in general terms Cronus' post was ok.
However, it's bloody criminal that NHS staff dont have the basics, in terms of masks, gloves etc
I know that we are dealing with a crisis here but, if my business was asbestos removal and I told the workers "it's ok, we've run out of gloves and overalls but, crack on anyway, I would, quite rightly be imprisoned and yet, we are asking NHS workers to do just this - go into work without basic and essential protective equipment.
On this issue, party politics has to go and a collective effort to get the right outcome for as many people as possible should be the only concern for all of us - there are some real selfish b'stards around and things like this certainly expose them.
Most of them are easily identifiable as they carry a copy of the daily mail editorial with them at all times
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Quote ="Cronus"Observations from the last few days.
Anyone stockpiling or profiteering should be shot on sight.
People are starting to understand. Slowly. There are still too many idiots out there thinking it doesn't apply to them.
The government is doing a sterling job. This week's measures will save millions of jobs and businesses. The damage is still going to devastating but these levels of support are reassuring. Many thousands in my sector have been laid off already, these measures could save most of them as they can be applied retrospectively even if already laid off.
The Guardian is most despicable, divisive, fear-mongering feckin pathetic rag. Makes the Mail looks positively saintly.
12 weeks (or more) at home is gonna be a bstard. But not as much of a bstard as frontline NHS workers are about to face. Calm before the perfect storm.
Is the government's strategy correct? My question in response to that would be - so Taiwan (and other places) have shut down and contained things really, really well - but what then happens as soon as they relax and the population floods back out there and flights recommence and some bugger jets in breathing COVID19 all over the place? They're back to square one, whether in May/June/July or end of the year and a vaccine before then is unlikely.
We are timing things carefully. Shut down too early and it's pointless. People cannot and will not isolate for more than a couple of months, and the population is still susceptible. Shut down too late and...it's too late. Isolate the vulnerable early and then shut down at the right time and you will already have people recovering and therefore immune and able to get back to work. The virus then also spreads far more slowly enabling the NHS to manage as best it can.
You cannot contain or escape this virus, you have to accept that and manage the outcome as best you can.
They've denied herd immunity is part of the strategy but it was let slip and to be fair it makes sense. The problem is that means exposing some people who will die, and society cannot handle that. Some people - quite a lot - are going to die whatever happens. I'm not sure why that was such a shock when Boris said it.
This is a great demonstration of how it works (albeit the models don't eliminate the deaths): https://www.washingtonpost.com/graphics ... simulator/'"
Fair enough except, nothing whatsoever could make the Mail saintly.
I'm surprised but not too surprised that Boris has adopted a sort of socialistic response in a Joe Gormley socialist way, to the crisis. The swivel eyed right wingers who think they are firmly in charge must be squirming in their seats at some of the measures being implemented.
I'd say so far, well done and thank God Maggie isn't in charge.
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Quote ="Cronus"Observations from the last few days.
Anyone stockpiling or profiteering should be shot on sight.
People are starting to understand. Slowly. There are still too many idiots out there thinking it doesn't apply to them.
The government is doing a sterling job. This week's measures will save millions of jobs and businesses. The damage is still going to devastating but these levels of support are reassuring. Many thousands in my sector have been laid off already, these measures could save most of them as they can be applied retrospectively even if already laid off.
The Guardian is most despicable, divisive, fear-mongering feckin pathetic rag. Makes the Mail looks positively saintly.
12 weeks (or more) at home is gonna be a bstard. But not as much of a bstard as frontline NHS workers are about to face. Calm before the perfect storm.
Is the government's strategy correct? My question in response to that would be - so Taiwan (and other places) have shut down and contained things really, really well - but what then happens as soon as they relax and the population floods back out there and flights recommence and some bugger jets in breathing COVID19 all over the place? They're back to square one, whether in May/June/July or end of the year and a vaccine before then is unlikely.
We are timing things carefully. Shut down too early and it's pointless. People cannot and will not isolate for more than a couple of months, and the population is still susceptible. Shut down too late and...it's too late. Isolate the vulnerable early and then shut down at the right time and you will already have people recovering and therefore immune and able to get back to work. The virus then also spreads far more slowly enabling the NHS to manage as best it can.
You cannot contain or escape this virus, you have to accept that and manage the outcome as best you can.
They've denied herd immunity is part of the strategy but it was let slip and to be fair it makes sense. The problem is that means exposing some people who will die, and society cannot handle that. Some people - quite a lot - are going to die whatever happens. I'm not sure why that was such a shock when Boris said it.
This is a great demonstration of how it works (albeit the models don't eliminate the deaths): https://www.washingtonpost.com/graphics ... simulator/'"
Fair enough except, nothing whatsoever could make the Mail saintly.
I'm surprised but not too surprised that Boris has adopted a sort of socialistic response in a Joe Gormley socialist way, to the crisis. The swivel eyed right wingers who think they are firmly in charge must be squirming in their seats at some of the measures being implemented.
I'd say so far, well done and thank God Maggie isn't in charge.
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| Quote ="Ovavoo"The swivel eyed right wingers who think they are firmly in charge must be squirming in their seats at some of the measures being implemented.'"
It has created a dilemma for the right-wing press who wants to be pro-Boris.
They have spent years trying to make out that the biggest threat to the UK, was Jeremy Corbyn turning the country in to some kind of Venezuela, with food shortages, mass job losses, most of the country on the government payroll and draconian state controls with people not even allowed to go out and have a pint.
Now that world has happened, because of Boris.
The virus is not Boris' fault of course, and even the legitimate criticisms about why the NHS has been stripped down to the bone and left inadequately prepared for this should be focused on the Cameron/Osborne administration not Boris. Even a well-funded NHS would have been overwhelmed by this though.
But most of the economic decisions were made by Boris (correctly) and the right-wing press will hate this as if this was a Labour government doing it they would be taking the line that this was "just a bit of flu" and all an overreaction.
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