The Budget

[crookesey]

At the end of the day our current difficulties derive from ridiculously high fuel and energy costs, IMHO the Chancellor would have sounded much more honest had he said that current events prohibited him from making changes just for the sake of it, what do you guys think?

[Chekhov]

1 hour ago, crookesey said:

At the end of the day our current difficulties derive from ridiculously high fuel and energy costs, IMHO the Chancellor would have sounded much more honest had he said that current events prohibited him from making changes just for the sake of it, what do you guys think?

No, the main driver for the economic recession we are almost certainly going to descend into was shutting down most of the economy for months on end.

And the main driver for the horrendous inflation we have been experiencing for months already (and which will get worse) is the fact that at that at the same time as severely restricting the economy for an extended period the government pumped many many Billions of pounds into it (mainly, but not exclusively, furlough payments). 

This was always going to happen.

 

Edited March 24, 2022 by Chekhov

[El Cid]

2 hours ago, crookesey said:

At the end of the day our current difficulties derive from ridiculously high fuel and energy costs, IMHO the Chancellor would have sounded much more honest had he said that current events prohibited him from making changes just for the sake of it, what do you guys think?

I totally agree with Chekhovs points that shutting down the economy and then pumping borrowed money into it was always going to create inflation. So that has left the Government with a massive debt.

Inflation on fuel was good for tax revenues and climate change, but it would have been a brave politician that told everyone to grin and bare it.

Inflation on fuel would give the Chancellor roughly 20p and he has given 5p of it back. Not sure promising to lower income tax in 2 years time was a good idea, just like telling everyone that corporation tax will be going up(1 April 2023) is also a bad idea.

 

[bassett one]

roland and mr bungles have not got a clue on how ro run the country,we are worse off now than 50 years ago

[Anna B]

2 hours ago, Chekhov said:

No, the main driver for the economic recession we are almost certainly going to descend into was shutting down most of the economy for months on end.

And the main driver for the horrendous inflation we have been experiencing for months already (and which will get worse) is the fact that at that at the same time as severely restricting the economy for an extended period the government pumped many many Billions of pounds into it (mainly, but not exclusively, furlough payments). 

This was always going to happen.

 

Yes indeed Chekhov, good points.

We have never really stopped quantitative easing sinsce the 2008 crash, and it went into overdrive during the shut down. There's too much money sloshing aroumd in the system.

We all knew there would be a day of reckoning.  The Austerity period is going to seem nothing at the side of this, and it is going to hurt...

[crookesey]

The reason for the recession and the Chancellor’s budget are two completely different topics in my book.

 

[Dromedary]

From the same place a Chekhov's link the CPI inflation rates per country as of today.

 

https://tradingeconomics.com/country-list/inflation-rate-

 

4 minutes ago, crookesey said:

The reason for the recession and the Chancellor’s budget are two completely different topics in my book.

Quite right.

Edited March 24, 2022 by Dromedary

[Anna B]

The energy price rises are still going to be the killer. Just had a letter from my supplier, going up £700 this year, and I already pay £200 a month, (and am cold all the time...)

[Mister M]

Just in case you didn't know Rishi Sunak:

 

"We have a whole range of different - we all have different breads in my house, a degree of healthiness between my wife, myself and my kids.” 

https://www.independent.co.uk/news/uk/politics/rishi-sunak-bread-cost-of-living-b2042943.html

 

So if you run out, pop up to Rishi's mansion & ask for a few slices

[alchresearch]

37 minutes ago, Anna B said:

The energy price rises are still going to be the killer. Just had a letter from my supplier, going up £700 this year, and I already pay £200 a month, (and am cold all the time...)

£200 a month?  I'm paying £80 a month for gas and electric to a 3 bed detached house with average insulation and someone working from home every day. And I'm in credit.

Edited March 24, 2022 by alchresearch