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And the impact is even greater on Chris, who works horrific hours for peanuts, and can’t afford to own a car let alone fill if with fuel.
Yet *everything* is becoming more expensive for him with little to no prospect of any improvement. He’s not making choices about driving a bit more economically or cancelling Netflix, he’s deciding whether to start eating a bit less or wear more clothes.
Tarquin is loaded and so can afford to run his V8 motor that does 20mpg and costs £500 a year VED, but now has £5 more in his pocket to spend on skinny lattes.
Dave has little money, is frugal and wise and so has bough at Kia that does 100mpg and is £20 VED a year.
I was agreeing with this.
Until this bit...
Hes now going to save £1 a week, which is nothing compared to the £10 a week increase he has on food and heating.
because surely Tarquin is also hit by a similar or higher rise on the cost of heating his country farmhouse/victorian london mansion/glass covered grand designs cube
sunsk today? Non-event.
Actually, that's wrong; it's an insult to and shows contempt for the low paid and those in fuel poverty who are about to face even more pressure.
because surely Tarquin is also hit by a similar or higher rise on the cost of heating his country farmhouse/victorian london mansion/glass covered grand designs cube
Of course. But if you’re living a high expenditure life, you have options that someone living on a limited income does not. Tightening your belt and cancelling a ski holiday is not the same as waiting for your next wage payment to buy bread and milk. Sunak claims there is limited support he can give (while also signalling an income tax before the next election) so that support should go to those who need it most, not those with the most. Cutting fuel duty at the pumps for all isn’t progressive.
because surely Tarquin is also hit by a similar or higher rise on the cost of heating his country farmhouse/victorian london mansion/glass covered grand designs cube
Yes, but that’s hardly a meagre existence is it.
He’s kids have separate bedrooms, they have a spare room for when people visit and the £400k house is insulated to modern standards with efficient heating systems.
Dave rents a 2 bed flat to squeeze his family into, which has very little insulation, and the landlord won’t invest in the property, so he has very few options to reduce his consumption.
FWIW, I’m in the middle class bracket and Sunaks announcement makes me ~£100 better off fuel wise and ~£300 better off from NI.
But the old lady 2 doors down has received no benefit, as she doesnt work or drive, but still faces the same increase in living costs.
How is that equitable?
Is she looking to install a wind turbine? There must be some “new support” announced today that helps her? No?
Dave here, I've managed to scrape enough money together to buy a bag of frozen sausages, does anyone have Tarquin's address.
Until we sort out the cost of housing which is ridiculously inflated
Which is what increasing interest rates will achieve.
Increasing the cost of debt, reduces the amount people can borrow, so will cool off the demand side of the property market and income/price ratios will reduce to historical rates.
When people’s fixed deals end over the next 1-2 years, people who have over stretched them are in for an unpleasant shock as their mortgage payments increase dramatically.
How is that equitable?
It was never supposed to be, the fuel cut is a specifically targeted measure at the core Tory vote. It's purpose it to cement the chancellors personal standing amongst Tory members and to a lesser extend the Tory party. They don't give a toss about helping the poor.
It's only when i read threads like this that i remember how little chance we have of ever having an effective opposition, we've seen the attempts at utopian societies, and they don't tend to fair well due to the simple fact that people are unpredictable.
The fuel cut is not a tory vote thing, for me, it's aimed at assisting the employers with their overheads and employees with their travel, folk rambling on about 'tarquin' are just showing their prejudices towards 'the rich', this fuel tax cut will help businesses across the UK offset some of the increases, which in turn will offset some of the rises to goods, services, etc. The simple fact is it's just not enough at present though, it needs to be a lot more than 8% of fuel duty being cut for a 1 year period, to cover the current issue, 25% would be a start, 50% would be useful.
offset some of the rises to goods, services, etc.
5p off a litre is going to make zero difference to prices in the shops....
It's 2.5% reduction in the cost of fuel, so less than that in transportation (as all other costs are unaffected eg wages, road tax, insurance etc).
Until we sort out the cost of housing which is ridiculously inflated
Your reminder that this is the government that cut inheritance tax, and had a help to buy policy designed to keep the cost of housing rising for developers and home owners. If the housing market is over inflated, look to those two policies first.
this fuel tax cut will help businesses across the UK offset some of the increases, which in turn will offset some of the rises to goods,
😂 rises to date are now ‘baked in’ do not expect a return to pre-90s-style-inflation prices for a little while. Maybe a reduced rate of rise in the near future. But there is a war on. And a pandemic. And recovery from a pandemic. Outlook - not so good for now.
The fuel duty changes, even without reading the budget report, are as many have described a weak sop to political allies. They are also another demonstration that this government is anything but green: burn, burn, burn!
As for interest rate manipulation 🤣. It will be upsetting to see this continue. 13% mortgage rates are no joke. Sadly, this is not a spending-driven inflationary episode. As such government and the BoE are limited in what they can do. Printing money and giving it away would be a better approach with fewer problems for now and the future. Interest rates up? Expect bank profits to go likewise.
Goodness, if there’s the political will maybe we will see the return of HMRC’s Prices Commission.
5p off a litre is going to make zero difference to prices in the shops….
It’s 2.5% reduction in the cost of fuel, so less than that in transportation (as all other costs are unaffected eg wages, road tax, insurance etc).
As stated, it won't do much, but it wasn't a cut aimed at tory voters, it is a very low attempt to offset the rise in inflation.
Personally, it's the dominoes down the line i'm more concerned about than fuel being 50p a litre more this month, i can cut back or save elsewhere, but this is the type of event that has consequences further down the line, and it's not just tarquin's roller running out of fuel.
Nothing but nothing on offer.
And special mention to Reeves' amazingly dull joke. That's what being a fiscal responsibility cheerleader gets you.
Expect recession and lots of mess cum autumn.
The two garages near me were 178.9 a litre yesterday morning. They are 178.9 a litre this morning.
Of course most
someget there through the old boys network, most work hard and use the skills and intelligence they have to earn their wages.
There you go that's more close to my observation of how we have been going for the last 50 years.
The two garages near me were 178.9 a litre yesterday morning. They are 178.9 a litre this morning.
Shell garage I passed was at 182.9 yesterday, and is 189.9 this morning!
As stated, it won’t do much, but it wasn’t a cut aimed at tory voters, it is a very low attempt to offset the rise in inflation.
I would say that's a minority opinion - see editorials in most papers eg FT / Guardian / Economist....
E.g. FT yesterday https://www.ft.com/content/c0c8b0ed-efa5-4c53-bedf-0868b6443086
Rishi Sunak’s very political Spring Statement
Chancellor pleases his own party but does little to help the poorest
The two garages near me were 178.9 a litre yesterday morning. They are 178.9 a litre this morning.
Shell garage I passed was at 182.9 yesterday, and is 189.9 this morning!
Yeah, Garages aren't bound to pass on the savings, in effect they've raised their prices 5p overnight.
From what I've read, it's ASDA and Morrisons (I don't know why it's them and not Tesco / Sainburys et al) that set prices, they drop and everyone else has to follow suit to stay competitive. ASDA announced a 6p drop yesterday, not sure about Morrisons.
Frankly the fuel Cos are taking the absolute piss with this, we should have seen a drop after the UAE increased supply to pick up the slack from Russia, but they held firm waiting for the mini-budget. Something seems to be broken in the competition 'system' I guess they can all hold firm knowing as long as Ukraine is being invaded, they can get away with it.
Tax cuts just mean less money for the Exchequer and therefore reduced services and a shrunken state...all very much part of the Tory agenda. What is needed is pay rises.
Chew
But the old lady 2 doors down has received no benefit, as she doesnt work or drive, but still faces the same increase in living costs.
How is that equitable?
I must be missing something, if she doesn't work or drive then how has she faced the same increase in living costs?
What is needed is pay rises.
Indeed. And thats the one thing that absolutely won't be happening, particularly in the public sector.
Is industrial action inevitable as people watch wages which have been effectively stagnant for decades, start to go seriously into reverse as inflation rises and starts massively impacting on standards of living?
The Guardian are reporting this morning that a further 1.3 million people will be pushed into poverty
From what I’ve read, it’s ASDA and Morrisons (I don’t know why it’s them and not Tesco / Sainburys et al) that set prices, they drop and everyone else has to follow suit to stay competitive. ASDA announced a 6p drop yesterday, not sure about Morrisons.
Around where I get fuel it just seems that Asda/Morrisons drop their prices so they end up running out of fuel. Everyone then has to use the higher priced Shell/BP filling stations nearby instead.
We've noticed this happening quite a few times over the past few weeks.
I must be missing something, if she doesn’t work or drive then how has she faced the same increase in living costs?
i don't know, maybe she has to eat or heat her house...
I must be missing something, if she doesn’t work or drive then how has she faced the same increase in living costs?
Food inflation is currently 4%
Gas and electricity prices are set to double when the price cap increases in April
2 items that you cant really live without, and if you're on the lower end of the income scale make up a larger percentage of your monthly costs, which then in turn hit you harder when they increase.
Thankfully warmer weather is on its way, but if things dont correct by later in the year people will have the stark choice of starve or freeze to death over winter.
jam-bo
i don’t know, maybe she has to eat or heat her house…
Right, so you agree, not the same increase then. Anyone with a car has had food, household energy PLUS the direct increase in fuel costs. 🤷♂️
Along with household energy, fuel is one of my largest monthly costs and also one of the largest increases (around 35% increase in less than a year).
The increase in her costs will hit her FAR harder. So no, the effect on her isn't the same.
Food inflation is currently 4%
Food inflation for basics such as bread and rice is far far higher than that, the average of which takes in the price of avocados and organic free-range coffee, so it disproportionately hits the poorest far harder
kelvin
Full Member
The increase in her costs will hit her FAR harder. So no, the effect on her isn’t the same.
How do you know, honestly we're having a little old lady down the road story without any context, she could have children who pay her bills, or her own and a widow's pension, etc, etc.
It's the same as 'the poorest' argument, it's a bland statement with no context of who they are, where they are and how best to assist them, the real poorest tend to be homeless without any identity or ability to claim benefit, same as 'the rich', without context it means nothing, just a bog standard stereotyping.
This is 'Man of the People' Rishi Sunak being photographed yesterday filing his car in a picture distributed to the press.
Except it obviously isn't his car. He borrowed it for this photoshoot from one of the guys who worked in Sainsbury's and put thirty quids worth in, which he'll claim back on expenses
Seriously.
Honestly, the whole political scene is filled with too many people doing too many daft things, the above photoshoot will have been the brainchild of some press officer, or assistant or whatever, and they would have quickly rushed around wasting effort on this.
Every time i see something like this i tend to go and watch some of the old 'Thick of it' episodes, nothings changed since then.
They just found the smallest car they could, to try and make Sunak look bigger.
not quite on topic, but...
rishi wife's company with links to russia
more tory do as i say, not as i do.
Every time i see something like this i tend to go and watch some of the old ‘Thick of it’ episodes, nothings changed since then.
Armando Iannucci commented that he couldn't do any more episodes as politics in this country has been beyond parody for years, and also that he believed that a lot of modern politicians regarded the Thick of It as a blueprint rather than a satire
Payrises would be nice but not the long term solution, we need to reduce the cost of living, housing costs are just a get rich quick scheme for a small proportion of people and are purely driven by supply & demand / availability of silly credit. We need more housing (and a lot less NIMBYs) and a return to proper lending criteria so people aren't borrowing six times their salary or more. We also need to get out of the global fuel market through renewables which the UK is better placed than many to utilise. Subsidies back on solar, FIT tariffs re-introduced and an overturn of the ridiculous ban on onshore wind. While we're at it removal of stupid tariffs to trade with our neighbours.
Maybe then in 20 years time life in the UK might be pleasant and affordable again, for people living through the next 20 years I don't see many short term fixes that won't make things worse longer term. At the moment we're spending 87 billion on borrowing interest, even the mythical £350 mill back from the EU (which didn't exist) only equates to 18 billion.
binners
Full MemberThis is ‘Man of the People’ Rishi Sunak being photographed yesterday filing his car in a picture distributed to the press.
Except it obviously isn’t his car. He borrowed it for this photoshoot from one of the guys who worked in Sainsbury’s and put thirty quids worth in, which he’ll claim back on expenses
Seriously.
Lol, i thought you were joking, these ****ers! Every time I think my opinion of them can't possibly get any lower they find a new way.
How do you know, honestly we’re having a little old lady down the road story without any context, she could have children who pay her bills, or her own and a widow’s pension, etc, etc.
I saw her in M & S doing her big shop the other day 😉
Every time I think my opinion of them can’t possibly get any lower they find a new way.
Trying to pay for that fuel in someone else's car, and his daily can of his favourite drink for himself... but doesn't know how to use contactless payments... we let these people have agency over our lives!!
https://twitter.com/LMAsaysno/status/1506746178096046087?s=20&t=CFeUhnE2fT01ZtO6GiQaIw
I'll imagine a quote for when he's asked about this... "I don't normally buy my own coke".
Trying to pay for that fuel in someone else’s car, and his daily can of his favourite drink for himself… but doesn’t know how to use contactless payments… we let these people have agency over our lives!!
I think thats more down to him being a millionaire that is married to a billionaire, rather than him being in senior government.
I'm sure he has people who fill his car for him, and keep his larder well stocked with his favourite drink.
Whenever he actually "goes shopping" to pick out items he wants, I imagine he simply walks out with it (or asks for it to be taken to his car); knowing that the store's proprietor knows him by name and will simply add it to his account, which his PA will later arrange payment of.
Someone once asked Cameron how much a loaf of bread was. He replied that he had a breadmaker. About the most honest thing he ever said.
Someone once asked Cameron how much a loaf of bread was. He replied that he had a breadmaker. About the most honest thing he ever said.
To be honest I have no idea how much a loaf of bread costs, I just nip to the coop and buy a new one whenever we're out. Somewhere between £1 and £3 would be my guess....
The nice olive bread or a soughdough loaf is about £1.80.
If you go to Tescos after about 7pm you can get a baguette in the reduced bit for 10p. I have a freezer full of cheap bread! And a breadmaker for normal loaves.
18x is a big differnce.
If only there was 'nearly at the sell by date' diesel going cheap somewhere
He replied that he had a breadmaker.
His name is Rafael.
To be honest I have no idea how much a loaf of bread costs, I just nip to the coop and buy a new one whenever we’re out. Somewhere between £1 and £3 would be my guess….
One of those weird press questions that makes them try and be all holier than thou, reality is what bread, i know folk who just like a £3 or £4 artisan sourdough, i know folk who like a 50p value white loaf, i tend to buy a granary loaf at 1.60, is there some correlation to that response that is either positive or negative, it just goes well with soup as well as being able to toast!
I'm not quite sure why there's all this stuff about Rishi the millionaire now, he's entered politics after a life in investment banking, after being a fulbright scholar, he's not daft, but he's not a good politician, and what he's actually after is just unknown, same with Rachel Reeves over the floor, it's not the money, or the power, i never understand why these types end up in politics.
The nice olive bread or a soughdough loaf is about £1.80.
If you go to Tescos after about 7pm you can get a baguette in the reduced bit for 10p. I have a freezer full of cheap bread! And a breadmaker for normal loaves.
Tesco's, Morrison's, etc let the staff have first shot on all that, what's left is horrific usually, Waitrose is actually one of the best places i've seen for knocking prices down at the end of the day, the one i used to live near actually had homeless folk going in after 1930 and picking up the cheap stuff.
Tesco’s, Morrison’s, etc let the staff have first shot on all that, what’s left is horrific usually,
Tescos might have in the past, but now it is collected by olio volunteers (may be why some of the staff are a little frosty 😂)
My wife is a volunteer. The amount of bread she collects is quite astounding. A fair bit is requested by others , but quite often a lot left over.
If you go to Tescos
Tesco. Unless you are going to more than one Tesco store to buy bread.
Tesco’s
Tesco. https://www.tesco.com
Why is it so difficult to get the name right?
Why is it so difficult to get the name right?
Just go to Asdol instead drive
Why is it so difficult to get the name right?
Why does it even matter. We all know what someone means when they say Tescos so the communication has worked at that point
To be honest I have no idea how much a loaf of bread costs, I just nip to the coop and buy a new one whenever we’re out. Somewhere between £1 and £3 would be my guess….
£1.65 apparently - made a mental note to look at the price and remember it when we next ran out...
Vogel soya and linseed granary - mainly as it toasts well out the freezer.
I dont get it – inflation high, so raise interest rates, but now extra support?
Stagflation. Everything is just kicking the can down the road and/or spreading the impact.
Unless the UK actually starts facing up to its 'needs', it is merely an acceleration of a downward spiral, caused in no small part by 'our' adoption of childish foreign policy that has an inflationary impact with no actual upside.
The terminal decline of net consumer economies with a ludicrously high standard of living (in world terms) is inevitable with global population growth and dwindling natural resources. Choosing to unnecessarily expose ourselves to global economic forces in light of the above is just plain ****ing stupid. 🤷♂️
One interesting analysis which shows central banks are just blindly throwing the lever - is that this inflation is being driven by things largely not purchased with debt.
So it's a doubly stupid knee-jerk economic logic to raise interest rates.
And totally agree with above.
All the brains in the world and we don't seem to have an answer (or the political will) when market economies go pear-shaped.
Isn't the premise of the market economy that the market will sort it out...
Isn’t the premise of the market economy that the market will sort it out…
In a Darwinian/dystopian fashion, it's a great premise to plan an economy/society
Isn’t the premise of the market economy that the market will sort it out…
Depends how many fat bastards already control the 'market'.
I'm not quite sure how a market 'sorts out' imposing daft costs on ourselves, though - at least not to the benefit of the consumer. If you make yourself more difficult to deal with you increase costs. If that is passed on to the consumer it is inflationary. If a company chooses to take a hit on their margin the fat bastards with shares take their money out and buy gold instead or take their money elsewhere. Choosing to accelerate this process (which is inevitable given population growth, dwindling natural resources and the global location of those resources) is just mental.