Time to increase interest rates.

This is going to be a tough couple of years

Capitalism is broken, you can't create trillions out of thin air to tackle covid and then just pretend it didn't happen. Within our lifetime, one of the big western countries will go into hyper inflation.

luckily i dont drink milk....im slightly more concerned about car fuel and gas and leccy

comment by dunc - johnny lawrence is my sensei (U11713)
posted 1 minute ago
luckily i dont drink milk....im slightly more concerned about car fuel and gas and leccy
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You might want to factor in food as well, we are a huge importer of that.

The good news is that the UK has its lowest unemployment rate for 50 years - raise interest rates and fight inflation and in a couple of years we should be back to normal levels

Low unemployment leads to higher inflation

I drink a litre of milk a day

comment by Ji Sung Park's Cousin - It's Beekers! (U2958)
posted 28 minutes ago
Capitalism is broken, you can't create trillions out of thin air to tackle covid and then just pretend it didn't happen. Within our lifetime, one of the big western countries will go into hyper inflation.
----------------------------------------------------------------------

And chances are, it will be us.

No idea what a pint milk costs but much like most other things if you need it buy it. If you can't afford it look where you can economise. Not saying it is easy for the poorest in society but do you really need a new phone, do you really need large data when wifi is almost omnipresent, do you really need Sky, home broadband if you only use your mobile device, latest TV, an SUV instead of a regular hatch, your hair coloured every month, that tattoo you really want etc.

Unfortunately, the real way out of this is productivity increasing because cutting back does not help the economy, only your personal crisis. I don't mean working longer but potentially harder and smarter. The gov could help here by giving tax incentives to capital investment though only for items sourced in the UK and I fear that there will not be enough civil servants left to monitor that and like covid loans will be abused.

It is a tough one.

comment by Silver (U6112)
posted 4 minutes ago
No idea what a pint milk costs but much like most other things if you need it buy it. If you can't afford it look where you can economise. Not saying it is easy for the poorest in society but do you really need a new phone, do you really need large data when wifi is almost omnipresent, do you really need Sky, home broadband if you only use your mobile device, latest TV, an SUV instead of a regular hatch, your hair coloured every month, that tattoo you really want etc.

Unfortunately, the real way out of this is productivity increasing because cutting back does not help the economy, only your personal crisis. I don't mean working longer but potentially harder and smarter. The gov could help here by giving tax incentives to capital investment though only for items sourced in the UK and I fear that there will not be enough civil servants left to monitor that and like covid loans will be abused.

It is a tough one.
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You are an idiot. Stick that tory rhetoric right up your jacksy.

If you’re struggling financially, may I be as bold to suggest you seek a better paid job? Maybe as a banker, or a CEO of a small business. I’m surprised the government aren’t dispensing this kind of brilliant advice……

Comment deleted by Site Moderator

Depressing times

Will this impact Uniteds spending power this Summer?

The banks will help those who are struggling, the food banks that is

Tories yay

comment by Boris 'Inky’ Gibson (U5901)
posted 42 minutes ago
Low unemployment leads to higher inflation
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It does, but it’s better than the alternative.

Like anything, taking strong measures now will speed up the recovery in the long term.

Electricity costs are causing me to worry for the country though - you are going to have people genuinely choosing between heating and eating this winter - the Government are going to have to intervene here in someway

Instead of being poor be rich.

Simple stuff

Worked my knackers off in the last couple of years and got a promotion and decent rise, which is pretty much negligible now.

Comment deleted by Site Moderator

You don't NEED those things you could afford before that you earned the money to be able to pay for by going to work. If you can't afford them any more because of decisions made and factors completely outside of your control then don't buy them anymore FFS!

comment by RJC (U17308)
posted 33 seconds ago
Instead of being poor be rich.

Simple stuff
----------------------------------------------------------------------

This speaks to me.

comment by FFS Mike. (U1170)
posted 31 seconds ago
You don't NEED those things you could afford before that you earned the money to be able to pay for by going to work. If you can't afford them any more because of decisions made and factors completely outside of your control then don't buy them anymore FFS!
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Have you tried applying for anything by letter recently?

Sorry sir you can only access this service online

The BofE will raise interest rates to 'solve' higher inflation in the belief that it will slow down the economy by people borrowing and spending less and saving more and also benefit from higher interest rates on their said savings. Laughable but true.

In times of high inflation as we have today this is a slow and painful process for most that rarely works as intended and interest rates have to first rise to eye watering levels for many of us, (we are at 1% at the moment... many remember the 80s and 90s when 10% interest rates were not uncommon, which leads to the poorest in society having personal crisis that the rest don't give a toss about as long as they are alright jack..

This time its different with everything going up at the same time... Gas and Electricity will double again this year, due to a war in eastern Europe apparently, we have a lame government obsessed with raising direct taxes on the incomes of low to average earners, petrol pump prices have almost doubled since lockdown, despite the price of crude oil not reflecting that, and we are facing 'apoplectic' food price increases in the shops for unspecified and vague reasons explained on a lack of UK lorry drivers, the high cost of fuel, Ukrainian grain export prices, and Brexit caused staff shortages. Meanwhile the supermarkets and oil companies are now awash with more money than they actually know what to do with.

The Bof E don't have to worry. People in the bottom half have no intentions of spending more than they can now barely afford. In fact people are now choosing not to even eat or heat their homes some days already, just to pay the mortgage and bills. This situation is going to get much worse and very soon if interest rates keep rising.

It's those wealthier people and those in business who this GVT represents who will keep on spending and borrowing... and at the same time stick two fingers up at the rest 'below' them who the rich expect to have to pay for this mess.

Lowest unemployment, but no one actually at work, or no one wants to work. We have turned into work shy country who would rather sit at home with our hand out.

Covid will take decades to recover from, a mixure of hand outs and hyper inflated property market with low stupidly interest rates. I'm sure there will be a big crash pretty soon, we can't go on like this. I'm just working more and looking at other ways to make money to cover everything, I should be spending time with my family more, but out 7 days a week now, I'm in farming so usually long weeks, but at the minute it's on a new level.

“ Lowest unemployment, but no one actually at work, or no one wants to work. We have turned into work shy country who would rather sit at home with our hand out.”

Yet we work longer hours than our European counterparts, with less annual leave, bank holidays, time between shifts/work for comparatively less pay then 12 years ago, after factoring in the increase in costs compared to rise in wages. You have people working relying on food banks and in work benefits. Plus the increase in more than one job to survive.

But it’s ok, this government and ministers want us to work even longer hours for less pay and a worse quality of life. All whilst they rake in £80k per annum plus expenses. They get plenty of annual leave, plus a second job to them is £100k per annum to sit on a board 1 day a week.

But let them fookers preach to us about working hard. Yeah all right then.

Lowest unemployment, but no one actually at work, or no one wants to work. We have turned into work shy country who would rather sit at home with our hand out.
++

and there is your starter for ten.