Inflation

[The Mighty Thor]

48 minutes ago, joondalupjambo said:

Liz Truss in BBC saying key answer to the current financial state of the country is to create the high skilled, high value jobs into the UK. 

 

Can somebody explain please how that helps the poor?  Is this the usual Tory mantra of drip feed economics?  Top lot do well and feeds done to Joe Blow.  Is that not their usual long term strategy for the economy so how that does that help people now?

 

Of course she would not / could not answer that question in detail apart from we have a fund to help the worse off and we took 5p off fuel duty.  These folk are lost in space.

 

 

I heard her on LBC.

 

She was saying that the cost of living increases are down to the war in Ukraine. The presenter pointed out that the war has been running for 82 days and the economy has been sliding down the shitter for much longer. Her answer? wibble everyone else has inflation wibble

[The Mighty Thor]

Here's the pound shop Thatcher in full flow 😂

 

 

[Pans Jambo]

I still don't understand this.

 

The "Wholesalers" of gas & oil are people like Shell, BP, etc. that are currently enjoying £Billions in profits.

 

Tell them that we either: 

Charge them a large windfall tax on their profits.

Or, reduce your margins by charging less at the wholesale price. Stop profiteering off the backs of the people in the UK!

 

That might help inflation. The alternative is continual rises in interest rates that will have a negative effect on everyone who has a Mortgage, Credit Card, Overdraft etc.

 

Yaay the tories!

Edited May 18, 2022 by Pans Jambo

[Footballfirst]

The IFS illustrates the greater impact of inflation on the poorest households.

 

 

[Cade]

Liz Truss ponders that tax cuts are the way to solve the cost of living crisis.

 

With Inflation at 9%, that's going to be some pretty deep cuts, likes.

 

Which of course means lots of government job losses, lack of investment in local councils and things getting worse.

Place yer bets on a 5% tax cut for the top earners being the only outcome.

[The Mighty Thor]

1 hour ago, Pans Jambo said:

I still don't understand this.

 

The "Wholesalers" of gas & oil are people like Shell, BP, etc. that are currently enjoying £Billions in profits.

 

Tell them that we either: 

Charge them a large windfall tax on their profits.

Or, reduce your margins by charging less at the wholesale price. Stop profiteering off the backs of the people in the UK!

 

That might help inflation. The alternative is continual rises in interest rates that will have a negative effect on everyone who has a Mortgage, Credit Card, Overdraft etc.

 

Yaay the tories!

What's becoming abundantly clear as the shit show deepens is that the Tories, the party of free market economics haven't got a scooby what they are doing. 

 

They're utterly clueless and are so in hock to the banks and media that they can't make the right choices as they'll alienate their bankroll.

 

What a shambles. 

[Jambo-Jimbo]

2 hours ago, The Mighty Thor said:

Here's the pound shop Thatcher in full flow 😂

 

 

 

Yeh I seen that, just so typical, how on earth can you make a comment disputing something that you haven't seen yourself.

[Jambo-Jimbo]

15 hours ago, WorldChampions1902 said:

Inflation is very much a new concept for the younger generation. So is ‘Negative Equity’.  It’s on its way.  ETA 2024 IMHO.

 

Absolutely, I've said it before, most of the younger generation won't have a clue what's coming down the road, none of them have lived through souring inflation, interest rates, prices etc.

 

Not that I'm saying it's going to be any easier for those of us who lived through the last time during the 70's & 80's, the only advantage we do have is that we know it will end, sooner or later there will be a light at the end of the tunnel...........eventually.

[The Mighty Thor]

15 minutes ago, Jambo-Jimbo said:

 

Yeh I seen that, just so typical, how on earth can you make a comment disputing something that you haven't seen yourself.

You've not been a member of kickback long then? 😂

[Jambo-Jimbo]

2 minutes ago, The Mighty Thor said:

You've not been a member of kickback long then? 😂

 

[Malinga the Swinga]

Maybe Scottish government could reduce tax levels to same as rest of UK and give those working long hours to earn a decent living and find themselves being being squeezed a break. After all, it's not like we are seeing any benefit from extra tax we pay.

Then again, the freeloaders who make up her core support won't benefit from that so perhaps not.

 

[Ray Gin]

34 minutes ago, Malinga the Swinga said:

Maybe Scottish government could reduce tax levels to same as rest of UK and give those working long hours to earn a decent living and find themselves being being squeezed a break. After all, it's not like we are seeing any benefit from extra tax we pay.

Then again, the freeloaders who make up her core support won't benefit from that so perhaps not.

 

 

Me me me me me

 

 

[Ray Gin]

Thoughts and prayers with those now having to shop at Sainsburys instead of Waitrose.

 

 

[Der Kaiser]

I'm currently in credit with my energy bill somehow. 

 

Hopefully the tighter restrictions I've set myself along with the double in payment amount can keep it that way at least until late Autumn.

[Gizmo]

43 minutes ago, Der Kaiser said:

I'm currently in credit with my energy bill somehow. 

 

Hopefully the tighter restrictions I've set myself along with the double in payment amount can keep it that way at least until late Autumn.

I upped my DD a lot ahead of this initial price hike (NOT as much as the *******s asked for -  apparently many of the energy suppliers tried to get away with doubling people's direct debit, something Martin Lewis was going tonto about).

But the feckers (Scottish Power) won't update my account. They've had a manual meter reading for 31st March, another submitted by their customer assistant and an official meter reading since then.  

Just leaves you in the dark wondering if you are paying enough to meet their exorbitant charges. 

[Jambo-Jimbo]

43 minutes ago, Der Kaiser said:

I'm currently in credit with my energy bill somehow. 

 

Hopefully the tighter restrictions I've set myself along with the double in payment amount can keep it that way at least until late Autumn.

 

Usually with the smaller energy suppliers folks need to keep a credit balance at all times, currently I'm £254 in credit and I'm hoping that over the summer it'll be something like £400 - £500 in credit before the next price increase in October.

If I'm £400-£500 in credit, then they'll need some bloody good excuse to justify putting up my DD, if I'm that much in credit.  I'm taking the hit now over the summer, hoping that I can build up enough credit to mitigate the next price increase or at least lessen it's effect over the winter.

[Pans Jambo]

2 hours ago, Malinga the Swinga said:

Maybe Scottish government could reduce tax levels to same as rest of UK and give those working long hours to earn a decent living and find themselves being being squeezed a break. After all, it's not like we are seeing any benefit from extra tax we pay.

Then again, the freeloaders who make up her core support won't benefit from that so perhaps not.

 

The extra tax doesn’t kick in until you earn a fair wedge. You won’t be in the “struggling”group if your paying higher tax. Or shouldn’t be. 

[ri Alban]

4 hours ago, Malinga the Swinga said:

Maybe Scottish government could reduce tax levels to same as rest of UK and give those working long hours to earn a decent living and find themselves being being squeezed a break. After all, it's not like we are seeing any benefit from extra tax we pay.

Then again, the freeloaders who make up her core support won't benefit from that so perhaps not.

 

That's just a load of pish, cause your unionist bell and chiefs are hopeless. The lowest earners in Scotland pay less tax than rUk. 

 

Oh and it's unionists that are on the most benefits, That's why you voted no. 👍

[joondalupjambo]

8 hours ago, The Mighty Thor said:

I heard her on LBC.

 

She was saying that the cost of living increases are down to the war in Ukraine. The presenter pointed out that the war has been running for 82 days and the economy has been sliding down the shitter for much longer. Her answer? wibble everyone else has inflation wibble

It sounds like she went on various TV and Radio shows today and gave a different answer in each one as to the cause.  As you say wibble, wibble, wibble.

[The Real Maroonblood]

2 hours ago, ri Alban said:

That's just a load of pish, cause your unionist bell and chiefs are hopeless. The lowest earners in Scotland pay less tax than rUk. 

 

Oh and it's unionists that are on the most benefits, That's why you voted no. 👍

Fair comment.

[Dazo]

2 hours ago, ri Alban said:

That's just a load of pish, cause your unionist bell and chiefs are hopeless. The lowest earners in Scotland pay less tax than rUk. 

 

Oh and it's unionists that are on the most benefits, That's why you voted no. 👍

Well if you are going to talk pish you might as well go all in. 😂

 

Unionists are on the most benefits ? 

[Unknown user]

On 17/05/2022 at 13:36, The Mighty Thor said:

Pretty stark when you see it in this context. A third of the state pension. Just on energy. 

 

FFS. 

 

£334 per month on universal credit, and two thirds of that goes on leccy and gas.

 

And these Tory *******s tell you to just get a better job

 

[The Mighty Thor]

8 minutes ago, Smithee said:

 

£334 per month on universal credit, and two thirds of that goes on leccy and gas.

 

And these Tory *******s tell you to just get a better job

 

They'll tell you it's your own fault. Or the immigrants fault. Or the war. Or the EU.

 

They'll tell you anything apart from we got it badly, badly wrong. 

[Cade]

It's alright, folks.

 

Ritchie Sunak is announcing a cut to corporation tax (in the autumn) at a lavish CBI dinner later tonight.

 

That's going to help all those millions of families struggling to make ends meet put food on the table and keep the lights on, right enough.

 

Boosting corporate profits is the only way out.

The Tory way out.

Their answer to everything.

 

 

[Costanza]

Asides from a windfall tax what is Starmer's long term energy strategy to avoid this happening in future?

He was all for nationalisation to win the Labour leadership contest (see one of his 'pledges' below) but has stated since he doesn't support nationalisation.

Would like to know how he would resolve this long term.

 

 

 

5. Common ownership

Public services should be in public hands, not making profits for shareholders. Support common ownership of rail, mail, energy and water; end outsourcing in our NHS, local government and justice system

[JudyJudyJudy]

1 hour ago, Costanza said:

Asides from a windfall tax what is Starmer's long term energy strategy to avoid this happening in future?

He was all for nationalisation to win the Labour leadership contest (see one of his 'pledges' below) but has stated since he doesn't support nationalisation.

Would like to know how he would resolve this long term.

 

 

 

5. Common ownership

Public services should be in public hands, not making profits for shareholders. Support common ownership of rail, mail, energy and water; end outsourcing in our NHS, local government and justice system

Hes not to be trusted. 

[skinnybob72]

The news / government continue to dampen people's concerns by suggesting the current high inflation is 'temporary' and that over the next year it will fall and things will get better again. 

 

Inflation itself may well tail off again and end up closer to the BoE target rate of 2% - but what about prices? Does anyone see food prices suddenly dropping again? Does anyone see oil / petrol prices suddenly dropping anytime soon? What about gas prices? 

 

Prices may level off but regardless of the actual rate of inflation in a year folk will be struggling with prices for years to come.

 

All in my opinion of course...

[JudyJudyJudy]

1 hour ago, skinnybob72 said:

food prices suddenly dropping again?

Nope. Never known food prices to drop in price.  TVs yes but not food. You cant eat a tv though :

[jambo89]

8 hours ago, JamesM48 said:

Nope. Never known food prices to drop in price.  TVs yes but not food. You cant eat a tv though :

I'm no expert, but believe it's a bad thing if food prices drop. A large proportion of how inflation is measured is based on a basket of food / shopping. If food prices were to drop, it would / could indicate deflation, which would de-value the currency agaisnt others (as you can now buy more stuff with the same amount of money as before). That leads to debts being higher in real terms i.e. £20,000 of debt is more / higher in relative terms than before the currency was devalued.

[Cade]

The Consumer Price Index and Retail Price Index have far more in them than just food.

 

You can download the full spreadsheet here: https://www.ons.gov.uk/economy/inflationandpriceindices/datasets/consumerpriceinflationbasketofgoodsandservices

The lists are in Annex A and B

 

clothing, footwear, rent, water, gas&leccy, council tax, furniture, paint, textiles, appliances, glasswear, DIY equipment, housework supplies, medical expenses, vehicles, cost of running a vehicle, rails, bus and plane travel, media service subscriptions, mobile subscriptions, toys, gardening, books, newspapers, eating out, jewellery, insurance, bank charges and even passport renewals are all there.

Edited May 19, 2022 by Cade

[JudyJudyJudy]

10 Leicester cheese slices up from £1.80 to £2.10 in sainsburys 

[Japan Jambo]

On 16/05/2022 at 21:07, Jeffros Furios said:

Martin Lewis lost the plot with Ofgem this morning.. Good guy .

 

 

When you looked at how thinly capitalised the Energy resellers were one can only conclude that many of them going bust was an accident waiting to happen. The fact that OFGEM allowed this on their watch doesn't reflect well.

[Jambo-Jimbo]

1 hour ago, Japan Jambo said:

 

When you looked at how thinly capitalised the Energy resellers were one can only conclude that many of them going bust was an accident waiting to happen. The fact that OFGEM allowed this on their watch doesn't reflect well.

 

Totally, OFGEM have to take some of the blame for allowing this to happen, hopefully they have learnt the lesson and will make sure that all existing and new suppliers have a better balance sheet and are able to cope much better if volatility hits the gas/electric wholesale markets.

 

Of course that'll probably mean that us the consumer will have to pay higher prices and have fewer choices of companies to switch to.

[Don Dan]

Martin Lewis warns of RIOTS amid cost of living crisis as police chief predicts crime will soar as desperate public try to feed themselves - but admits he's told officers to go easy on people stealing food

• Andy Cooke said there are 'no two ways about' poverty leading to more crime 
• He 'fully support officers using their discretion' for people stealing food to eat 
• But was slapped down by policing minister, who said 'justice should be blind' 
• Meanwhile, Mr Lewis warned of 'civil unrest' as inflation hit nine per cent 
   

I heard from someone who works in a bank that they preparing for civil unrest!! 

[SuperstarSteve]

14 minutes ago, Imaman said:

Martin Lewis warns of RIOTS amid cost of living crisis as police chief predicts crime will soar as desperate public try to feed themselves - but admits he's told officers to go easy on people stealing food

• Andy Cooke said there are 'no two ways about' poverty leading to more crime 
• He 'fully support officers using their discretion' for people stealing food to eat 
• But was slapped down by policing minister, who said 'justice should be blind' 
• Meanwhile, Mr Lewis warned of 'civil unrest' as inflation hit nine per cent 
   

I heard from someone who works in a bank that they preparing for civil unrest!! 

When volunteer police are being given tasers to use, you just know they are preparing for something kicking off. October will be breaking point for many. 

[Malinga the Swinga]

Maybe we need to get used to not being able to just go and buy something whenever we want it and to learn to save up for item before buying it.

Stick interest rate up as well. Folk have got so used to extremely low interest rates that they now expect it and just borrow the max they could get.

Well now welcome to real world where actions have consequences.

It happened in late 60's, the 70's and the early 80's before the get something for nothing culture began to explode.

 

[WorldChampions1902]

3 minutes ago, Malinga the Swinga said:

Maybe we need to get used to not being able to just go and buy something whenever we want it and to learn to save up for item before buying it.

Stick interest rate up as well. Folk have got so used to extremely low interest rates that they now expect it and just borrow the max they could get.

Well now welcome to real world where actions have consequences.

It happened in late 60's, the 70's and the early 80's before the get something for nothing culture began to explode.

 

I agree with the sentiment of your post. However, “saving up” for anything is rapidly becoming impossible for many of the least well-off in society. In fact, they are getting deeper and deeper into debt merely for just trying to heat, eat and pay their rent.
 

That is a dangerous place for any government to be, when the numbers of people involved get out of hand. We are just about there now. Trouble ahead.

[Jambo_jim2001]

39 minutes ago, SuperstarSteve said:

When volunteer police are being given tasers to use, you just know they are preparing for something kicking off. October will be breaking point for many. 

I'm not concerned,it took the police four hours to attend for a drink driver up here,,he was long gone by then. One of my neighbours ,two days for his stolen van🤬 tazers can only be deployed once💥

[SuperstarSteve]

6 minutes ago, Jambo_jim2001 said:

I'm not concerned,it took the police four hours to attend for a drink driver up here,,he was long gone by then. One of my neighbours ,two days for his stolen van🤬 tazers can only be deployed once💥

Unbelieve that. 4 hours to attend a drunk driver. 

[Unknown user]

44 minutes ago, Malinga the Swinga said:

Maybe we need to get used to not being able to just go and buy something whenever we want it and to learn to save up for item before buying it.

Stick interest rate up as well. Folk have got so used to extremely low interest rates that they now expect it and just borrow the max they could get.

Well now welcome to real world where actions have consequences.

It happened in late 60's, the 70's and the early 80's before the get something for nothing culture began to explode.

 

That's an easier point of view if you're already comfortable but there are millions in this first world country who aren't. 

 

Universal credit is just over 4 grand a year. How are those guys going to deal with what's ahead?

[Japan Jambo]

2 hours ago, Jambo-Jimbo said:

 

Totally, OFGEM have to take some of the blame for allowing this to happen, hopefully they have learnt the lesson and will make sure that all existing and new suppliers have a better balance sheet and are able to cope much better if volatility hits the gas/electric wholesale markets.

 

Of course that'll probably mean that us the consumer will have to pay higher prices and have fewer choices of companies to switch to.

 

All for a bit of competition but not when it's artificial and pointless. I'm not clear about what was achieved with the explosion of new providers/products/tariffs that came onto the market beyond that it rewarded the time rich and educated to shop around at the expense of the more vulnerable. We need a grown up debate on public/private ownership and the bits in between. One gets the sense that once we are done with patching up the energy market then there will be an issue with water or something else.

 

[Japan Jambo]

15 minutes ago, Smithee said:

That's an easier point of view if you're already comfortable but there are millions in this first world country who aren't. 

 

Universal credit is just over 4 grand a year. How are those guys going to deal with what's ahead?

 

Seems a shockingly low number, not sure how someone could feed themselves for that let alone put a room over their head.

 

Smithee, is that for everything or are there rent allowances and other top ups for those with additional needs?

 

[Unknown user]

19 minutes ago, Japan Jambo said:

 

Seems a shockingly low number, not sure how someone could feed themselves for that let alone put a room over their head.

 

Smithee, is that for everything or are there rent allowances and other top ups for those with additional needs?

 

Rent also gets paid up to a certain value and you only pay the water part of council tax. IIRC in Edinburgh and Lothians the limit they'll pay is just under 100 a week for a 2 bedroom, after that it's up to you. But that's the basic income, £334 per month to cover gas, leccy, phone, internet, I have to pay 40 a month to my rent. That's before you think about eating or doing anything of course. They reckon those on UC will face two thirds of their income going to heating and powering their homes this winter.

 

If you have certain medical conditions you can claim for PIP (tough as hell to get, thankfully being taken over by the Scottish government in August) but I don't know actually know much that is.

Edited May 19, 2022 by Smithee

[Malinga the Swinga]

42 minutes ago, Smithee said:

Rent also gets paid up to a certain value and you only pay the water part of council tax. IIRC in Edinburgh and Lothians the limit they'll pay is just under 100 a week for a 2 bedroom, after that it's up to you. But that's the basic income, £334 per month to cover gas, leccy, phone, internet, I have to pay 40 a month to my rent. That's before you think about eating or doing anything of course. They reckon those on UC will face two thirds of their income going to heating and powering their homes this winter.

 

If you have certain medical conditions you can claim for PIP (tough as hell to get, thankfully being taken over by the Scottish government in August) but I don't know actually know much that is.

Why is internet considered a necessity. It is a luxury and should be treated as such. 

Yes, it can be hard, it was hard for my parents and family growing up, but we got by. No central heating, no double glazing, no phone in house, no entertainment systems.

Didn't go abroad till I had my own first job, and didn't have credit card for years.

Worked hard, kept head down and grafted for what I have now. 

People need to stand on their own 2 feet and not depend on government assistance.

[Unknown user]

21 minutes ago, Malinga the Swinga said:

Why is internet considered a necessity. It is a luxury and should be treated as such. 

Yes, it can be hard, it was hard for my parents and family growing up, but we got by. No central heating, no double glazing, no phone in house, no entertainment systems.

Didn't go abroad till I had my own first job, and didn't have credit card for years.

Worked hard, kept head down and grafted for what I have now. 

People need to stand on their own 2 feet and not depend on government assistance.

Who said it's a necessity?

It's a contract I entered into when things were going fine.

[Jambo_jim2001]

2 hours ago, SuperstarSteve said:

Unbelieve that. 4 hours to attend a drunk driver. 

Council were quicker attending the knocked down street lamp,,MSP not interested either🤬🤬

[Jambo_jim2001]

26 minutes ago, Malinga the Swinga said:

Why is internet considered a necessity. It is a luxury and should be treated as such. 

Yes, it can be hard, it was hard for my parents and family growing up, but we got by. No central heating, no double glazing, no phone in house, no entertainment systems.

Didn't go abroad till I had my own first job, and didn't have credit card for years.

Worked hard, kept head down and grafted for what I have now. 

People need to stand on their own 2 feet and not depend on government assistance.

You need access to internet for your UC.

Sadly it's mostly " I want it now" society. I have worked in places where you would think folk are well off due to their lifestyle,yet trying a few credit cards to pay a couple of hundred quid bill😳😳 

[WorldChampions1902]

On 18/05/2022 at 11:49, Ray Gin said:

Thoughts and prayers with those now having to shop at Sainsburys instead of Waitrose.

 

 

For those whose current affordability extends to Farmfoods, next stop is Dumpster Diving.

[MoncurMacdonaldMercer]

1 hour ago, Malinga the Swinga said:

Why is internet considered a necessity. It is a luxury and should be treated as such. 

 

Basic internet access probably considered more of a necessity than a luxury these days

[Cade]

Many services are only available via internet these days.

And many smartphone apps get you discounts for various goods and services.

Some retailers have online only exclusive offers that can save people a ton of cash.

Even tax returns and benefits are being moved online.

 

In the western world, in the 21st century, you need to be online in some form or other.