Cost Of Living 'Crisis'

[ads36]

3 hours ago, Anna B said:

I bought a house in 1980. The mortgage interest rate went up to 15% soon after (Tories in charge again.) It was a huge struggle, and required all sorts of jiggory pokery to manage, but we did manage, just...

1) MIRAS.

 

2) interest rates were high because the economy was doing well - pay rises holding something approaching parity with inflation.

[El Cid]

3 hours ago, Anna B said:

That rather depends on whether they have 'real world' experience, and the when the country is run by the elite (and I include top civil service and bankers/financiers in that,) the answer is no.

 

The thing is, the Bank of England have been given the task of controlling inflation; but the only thing that they control is interest rates.

What is helping control inflation, after the Liz Truss fiasco, is increasing taxes. Taxes being increased takes money out of the economy, the trouble is, its not enough and it mostly affects those on low incomes. Keeping personal allowances static mean people are paying more tax.

 

https://www.economicshelp.org/blog/2269/economics/ways-to-reduce-inflation/

[fools]

7 minutes ago, ads36 said:

interest rates were high because the economy was doing well

some re-reading of history required.

8 minutes ago, El Cid said:

Its Labours fault

the penny drops

1 minute ago, El Cid said:

The thing is, the Bank of England have been given the task of controlling inflation; but the only thing that they control is interest rates.

What is helping control inflation, after the Liz Truss fiasco, is increasing taxes. Taxes being increased takes money out of the economy, the trouble is, its not enough and it mostly affects those on low incomes. Keeping personal allowances static mean people are paying more tax.

 

https://www.economicshelp.org/blog/2269/economics/ways-to-reduce-inflation/

still they do the truss thing

Edited August 3, 2023 by fools

[ads36]

ok, well enough that people were in work and got pay rises.

 

we're often told about the high interest rates in the 80's, the same people often forget to tell us that the economy was also (at times) growing at well over 5%.

 

(and Mortgage interest Relief - we're very quick to forget that)

 

 

Edited August 3, 2023 by ads36

[rogets]

1 hour ago, ads36 said:

ok, well enough that people were in work and got pay rises.

 

we're often told about the high interest rates in the 80's, the same people often forget to tell us that the economy was also (at times) growing at well over 5%.

 

(and Mortgage interest Relief - we're very quick to forget that)

 

 

And you could buy a house for peanuts too

[Anna B]

9 hours ago, sheffbag said:

off topic slightly but are you off to see your almighty leader at the Leadmill shortly?

I didn't know anything about it to be honest, but no, I probably won't be going.

More to the point, will you?

[sheffbag]

14 hours ago, Anna B said:

I didn't know anything about it to be honest, but no, I probably won't be going.

More to the point, will you?

Shows how well they've advertised it!

I think you know the answer to the other question - £12:50 to go watch someone perform tracks like  Slut Money, Bald Bitch, Freak and this little charming ditty? Nice to see the company Jeremy keeps and promotes

 

Edited August 4, 2023 by sheffbag

[rogets]

Cost of living crisis.

 

When my grandparents generation were struggling to make ends meet, did they complain, no.

 

What they did was got on their bycycles and started peddling and they didn't stop peddling until they found more money

[Irene Swaine]

Wilkinson's went wrong when they reduced the manned tills and brought in Card Only self service tills. Most of the customers I saw, wanted to go to the manned till and pay cash.

 

It's a shame for some of the staff, as some of the older ladies working on Haymarket were always pleasant. 

 

I wonder if this could be the final nail in the coffin for Haymarket. Jack Fulton's is gone, B&M is said to be struggling and now Co Op has gone. 

[top4718]

On 03/08/2023 at 12:25, rogets said:

I don't know if its been mentioned by anyone before, but back in the 1980s interest rates were at 15%, so the current generation have never had it so good.

 

But, it terms of cost of living, maybe its a cost of priorities.

 

Do you need that yaught, do you need that private jet, do you have a mercedes, why not switch to a cheap car like a VW, did you know it only costs as little as £35,000 to buy a new VW?

 

Do you need those holidays per year, why have 6 holidays per year, why not just have 1 per year, why not go to Tenerife instead of the Maldives?

 

I paid 15% interest YES 15%

 

And when you are paying 10 times your salary then yes you have to ask yourself "can I afford to pay for this mortgage if the cost goes from 1% to 6%".

 

Maybe its not sensible to pay £200,000 for a terrace house, maybe buy a terrace house for the cost of 3 mars bars like I did when I started out

The 15% was on a house price that was probably close to what a couple earn a year now its about five times that, add in huge increases in virtually every other bill you have and you can't compare in any way.