Reply to: Freelancers face selling homes as MPs urge Chancellor to offer more help

[Whorty]

Yeah, right. More likely to avoid inheritance tax.

Be interesting if he paid stamp duty on the purchase

[SimonMac]

Really? I am not in banking but everyone I know has been on 700+ day rates. Maybe just depends what doing.

Rule of thumb, if someone is willing to tell you they are on £700 a day they are not.

Those who know don't tell, those that tell don't know

[SimonMac]

I was on £425 p/d in my last banking job.

It doesn't matter if people are earning £10k or £300k - if their lifestyle is beyond their income, they're going to be screwed as soon as that regular pay check stops coming in.

I think this is the crux of the matter, how many times have we said on this forum you need 6 - 12 months warchest as a minimum, the perfect storm of IR35 reforms and the pandemic was a once in a generation event, just like the dot.com boom was.

[eek]

This looks like another of the PR driven article that Loan Charge guys churn out once in a while painting a gloomy picture of the IT contractors having to sell house and seek shelter under the bridge. How such articles make it to mainstream press is beyond me.

Because while the LCAG people see it as a story that makes them look like victims they don't grasp that to your typical newspaper reader it sounds like "just desserts". Which is why the papers are happy to run such stories.

[fullyautomatix]

This looks like another of the PR driven article that Loan Charge guys churn out once in a while painting a gloomy picture of the IT contractors having to sell house and seek shelter under the bridge. How such articles make it to mainstream press is beyond me.

[ladymuck]

we are moving away from service based economy to delivery based economy.
Half the country orders food and tat and the other half delivers it.

So who is cooking it?

[ladymuck]

Really? I am not in banking but everyone I know has been on 700+ day rates. Maybe just depends what doing.

It depends on which part of banking and what you're doing. Retail has a lot less cash sloshing about than investment/wealth for example.

[Andy2]

Then they'll be out of work altogether.

They should be encouraging the punters to order more tat .The whole country can get delivery jobs if we move from a service based consumer society to just a consumer society getting it all delivered. All it needs is endless 'as good as free, worry about paying it back later' credit, like the government have been finding down the back of the houses of parliament sofa.

A bit of genuine sofa news.

we are moving away from service based economy to delivery based economy.
Half the country orders food and tat and the other half delivers it.

[TwoWolves]

I was out of work for nine months around the dot com bubble burst, I was just fine as I had a sensible war-chest. Living invoice to invoice is not freelancing, it's chancing.

Mind you, I now have a family and I'd struggle now to do that. Could manage five to six months but I'd be drained to my last quid.

[jayn200]

I was on £425 p/d in my last banking job.

It doesn't matter if people are earning £10k or £300k - if their lifestyle is beyond their income, they're going to be screwed as soon as that regular pay check stops coming in.

Really? I am not in banking but everyone I know has been on 700+ day rates. Maybe just depends what doing.

[AtW]

My last permie banking job was 800 USD.

Per month

[ladymuck]

I was on £425 p/d in my last banking job.

It doesn't matter if people are earning £10k or £300k - if their lifestyle is beyond their income, they're going to be screwed as soon as that regular pay check stops coming in.

[jamesbrown]

How many contractors you know in banking who aren't billing that much?

Right now? Most of them, I expect.

[eek]

How many contractors you know in banking who aren't billing that much?

A lot....

[jayn200]

Really? just because you can bill that amount doesn't mean others can...

How many contractors you know in banking who aren't billing that much?