Cost of living!

[LotusLeftLotusRight]

Same here. If there’s any new tax forthcoming, I can guarantee it will hit me hard. Here’s an example: my wife earns part time minimum wage peanuts and yet if I earn a penny over £50k, I get hit with the high income child benefit charge, whereas a parent couple earning £49,999 each don’t have to pay a penny. The NI increase will also be a bastard. Savings earning sod all and whenever we try to gamble on a better return, the investment goes to sh!t. Although that’s more COVID’s fault that the government. The only safe-ish place for my money has been invested in cars!

[Colin P]

Exactly @LotusLeftLotusRight So much for family values. I get hit by bloody everything. Sorry, but in some ways nice to know I'm not alone!!

Being salaried doesn't help either.

[RobinB5]

2 hours ago, Barrykearley said:

And I’ve warned everyone about smart meters. Folks ain’t gonna listen till it hits chap.

I've gone back to paying the electric bill monthly based on actual readings. EDF were taking the piss with a projected usage monthly direct debit.

Will also encourage us to use less as the benefit will be experienced more immediately. Jumpernomics

[pete]

2 hours ago, Kimbers said:

So Banks make record Profits, and Inflation is going up and up yet I am still getting 0.01% interest on my savings. Anyone else smell a rat? Or several Rats.

What is savings?

[Kimbers]

8 minutes ago, pete said:

What is savings?

Converted a lot of mine into Shares and Gold & Silver I must admit! But I need some cash to buy a Holiday home in Cyprus, so next Lockdown I'll be warm and in a pool!

[DaveC72]

7 hours ago, PaulCP said:

@MysteraeIn my experience after witnessing how supposedly high level ex NHS IT ‘professionals’ struggle & fail miserably outside of their little “cushion” Test & Trace was doomed to failure once the NHS IT ‘professionals’  got their hands on it (& the money).

 

You mean Serco, right?

[Stuart Monument]

Its all going to fall over... If its not sustainable for the average person. You don't need to be a economist to figure that out. Just look at the countries borrowing increase since the start of Covid. Scary .. and it has to be paid back. Then look at car prices, house prices, rent prices, fuel prices, food prices etc etc. 

[windymiller]

ive read that inflation somehow erodes the national debt ?? (dont ask me how) so although on screen the government will be saying this is bad we will fix it blah blah blah behind the scenes they may want it to run as it is 😔

[PaulCP]

2 hours ago, DaveC72 said:

You mean Serco, right?

No, this was in Scotland and pre Serco. 
Ex NHS employees back in 2003-09 trying to adapt to cut & throat systems requirements in the Port Industry

[Mysterae]

When it rains.... When I moved back to Scotland having been away for over 20 years our inept HR department didn't update the Inland Revenue as they are required to do. So for over a year I was paying tax at the English rate despite living in Scotland. I don't pay much attention to tax codes, just paye and be done with it but a conversation at work made me check it and I contacted the IR for advice. It was true.

I'm now paying more in income tax and start paying back the shortfall this April. Got to pay for those free prescriptions (that I don't use or need) somehow I suppose! The impact of this is softened by the other half getting made up to full time, today no less, congrats to her!

By the way, add water to list of bills that are going up too (7% on average).

[DaveC72]

2 hours ago, PaulCP said:

No, this was in Scotland and pre Serco. 
Ex NHS employees back in 2003-09 trying to adapt to cut & throat systems requirements in the Port Industry

Can't comment on what you experienced, but "NHS" Test and Trace was outsourced to Serco.

[MPx]

4 hours ago, windymiller said:

ive read that inflation somehow erodes the national debt ?? (dont ask me how) so although on screen the government will be saying this is bad we will fix it blah blah blah behind the scenes they may want it to run as it is 😔

Maybe, but the fallout in the wider economy is really bad so solving the debt mountain issue using that technique usually requires taking on an even bigger debt mountain.  But the basic maths are simple.  If inflation is at 2% per annum then given compound effects in about 35 years money has halved its value - so £100 then buys the same as £50 did 35 years ago.  If inflation is at 5% then that drops to halving every 15 years and at 10% its something just over 7 years.   So at 10 % inflation, your 1 Billion debt now gets paid back in 50 years time by money that's worth the equivalent of just £0.143 billion....Ignoring the real and constant drag of interest payments in the interim and all the other awful side effects.

[PaulCP]

12 hours ago, DaveC72 said:

Can't comment on what you experienced, but "NHS" Test and Trace was outsourced to Serco.

Didn’t realise that Dave, but surely if something is outsourced the responsibility for the ultimate control for specification & checking stays with the business who outsourced the requirement in the first place. Outsourcing used to be all about getting the specification and contract right.

Or have I been out of day to day business too long after 9 years of retirement🤔

[C8RKH]

On 03/02/2022 at 19:35, LotusFella said:

I’m with Ovo Energy for leccy only.  My contract was  100% renewable.  When I quizzed them about the 3 fold increase when on 100% renewable they told me it was the large corporates just force profiteering on the population for being susceptible to covid and hitting their profits last year.  #paybacktime

That is complete and utter bollocks from Ovo to be honest. You were fobbed off by someone who just thought they could get away with stuffing a large vegetable up your butt!

19 hours ago, LotusLeftLotusRight said:

Same here. If there’s any new tax forthcoming, I can guarantee it will hit me hard. Here’s an example: my wife earns part time minimum wage peanuts and yet if I earn a penny over £50k, I get hit with the high income child benefit charge, whereas a parent couple earning £49,999 each don’t have to pay a penny. The NI increase will also be a bastard. Savings earning sod all and whenever we try to gamble on a better return, the investment goes to sh!t. Although that’s more COVID’s fault that the government. The only safe-ish place for my money has been invested in cars!

Ha!  I took home 47p in evey pound I earned last year! And then I listen to tosspot politicians and twits like Angela Raynor who say those who earn more should pay more.  So I "earn" 8 times more than my son, but after taxes etc I take home 4 times more. Yeah, i really should pay more tax!!!!!

[C8RKH]

13 hours ago, Mysterae said:

When it rains.... When I moved back to Scotland having been away for over 20 years our inept HR department didn't update the Inland Revenue as they are required to do. So for over a year I was paying tax at the English rate despite living in Scotland. I don't pay much attention to tax codes, just paye and be done with it but a conversation at work made me check it and I contacted the IR for advice. It was true.

I'm now paying more in income tax and start paying back the shortfall this April. Got to pay for those free prescriptions (that I don't use or need) somehow I suppose! The impact of this is softened by the other half getting made up to full time, today no less, congrats to her!

By the way, add water to list of bills that are going up too (7% on average).

Welcome back to the communist state that is Scotland. I always find it ironic how Scots who moved to England for better jobs, earnings etc always shout from their English Castles how rosey everything is about Scotland (not implying this is you btw). Meanwhile those of us who live and work here endure the harsh truth - highest taxation rate in the UK. SNP austerity re local authority spending worse than any other part of UK. Collapse in education attainment levels. Widest ever gap between rich and poor. Largest % of kids living in poverty in uk. Highest drug deaths per capita in Europe. Shall I go on?

And all of this when we receive the highest per capita share of UK government budgets.

Despite all of this, and when over an approx. 15 years of SNP Government, with only 1 term (iirc) where they actually secured a majority, we are force fed that the number one priority, the biggest issue we face, is Independence!

the last 25 years living here have been enough to make me one hell of a grumpy, intransigent, cynical bastard. Oh wait, my wife says I've not changed much in the last 30 years 🤣😂🤣😂

[C8RKH]

20 hours ago, windymiller said:

ive read that inflation somehow erodes the national debt ?? (dont ask me how) so although on screen the government will be saying this is bad we will fix it blah blah blah behind the scenes they may want it to run as it is 😔

This may help.

https://budgetmodel.wharton.upenn.edu/issues/2021/10/21/can-inflation-offset-government-debt

[TdM]

On 03/02/2022 at 19:35, LotusFella said:

I’m with Ovo Energy for leccy only.  My contract was  100% renewable.  When I quizzed them about the 3 fold increase when on 100% renewable they told me it was the large corporates just force profiteering on the population for being susceptible to covid and hitting their profits last year. 

As I understand it, electric suppliers charge per unit of energy, it doesn't matter where it comes from they charge the same, so if prices go up because it costs a lot to get the gas to burn to generate leccy, then the Nuclear, wind, wave etc. prices all rise to the same level.

 

It doesn't make sense, but it encourages suppliers to move towards renewables, hence why they are all trying to buy space to build wind farms all of a sudden.

[windymiller]

a relative of the wifes has just applied for a solar farm on several acres of farmland and its caused merry hell in the local community !!!

[exeterjeep]

3 minutes ago, windymiller said:

a relative of the wifes has just applied for a solar farm on several acres of farmland and its caused merry hell in the local community !!!

How large is the one you mention.....

Revised plans for controversial huge solar farm near Exeter revealed...

The 215 acres scheme - which has since been decreased by more than 35 acres due to residents comments!!!!!!!

Quite large......

 

 

[scotty435]

A Brexit promise broke yet again at least this one was not on the side of a bus.

https://metro.co.uk/2022/02/03/black-thursday-boriss-brexit-promise-of-cheaper-gas-turns-out-to-have-been-hot-air-16041454/

[windymiller]

53 minutes ago, exeterjeep said:

How large is the one you mention.....

Revised plans for controversial huge solar farm near Exeter revealed...

The 215 acres scheme - which has since been decreased by more than 35 acres due to residents comments!!!!!!!

Quite large......

 

 

i think its quite small only about 8 acres but i find this policy stupid with a growing population and trying to cut co2 emmisions shudnt we grow more and import less ?? the foot print of solar is huge compared with nuclear and solar really does remove a habitat for wildlife but wtfdik !!!! 

[Barrykearley]

1 hour ago, windymiller said:

a relative of the wifes has just applied for a solar farm on several acres of farmland and its caused merry hell in the local community !!!

Tell her to whack in for a wind turbine - now then you’ll see what Merry hell is 🤣

[Mark Blanchard]

Andrew Bailey (from the BoE) telling people not to ask for a salary increase from their boss, while he’s on a salary on £500,000 takes the biscuit.

 Though unfortunately his economics are correct as wage inflation will add to an upward inflationary spiral.  As employees salaries increase, so does the cost of the business’s products to cover their overheads.

Putting up interest rates in the short term won’t cure inflation as a large amount of it is from high imported energy costs.  In the medium term If energy prices decrease but inflation persists, then putting up interest rates is the only cure.

Unfortunately it looks like we are heading into a huge shit storm, 70s style.

[C8RKH]

Christ, we get enough of this negativity from the news, why do we need it on here too?  Shit happens. We've had two years of a pandemic. Employment is at historically high levels. The country has spent a trillion pounds securing jobs and protecting us with vaccines etc.  But hey, let's look on the dark side....

1 hour ago, scotty435 said:

A Brexit promise broke yet again at least this one was not on the side of a bus.

https://metro.co.uk/2022/02/03/black-thursday-boriss-brexit-promise-of-cheaper-gas-turns-out-to-have-been-hot-air-16041454/

Why don't you ask a question along the lines of "why was it decided to reduce the investment in the extraction of our North Sea gas reserves?" Another good question, "Why have we not allowed the exploitation of shale gas in the UK?" and a final good question, "why did we halt the investment in LNG regasification plants in the UK?"

We have the reserves and the ability to dramatically reduce our reliance on the "global gas market" through the exploitation of the reserves we have in our our own countries control and within her boundaries.

A large proportion of the people who are now complaining about the soaring cost of energy are the people who opposed all those three things above in our push to rapidly ditch carbon based energy sources. They did it at a time when we had not made the investment into sustainable renewable energy at the scale required to replace the capacity lost by ditching gas exploration and production in our own territory. Fcuking middle class nimbies meddling in stuff they knew fcuk all about, joining a cause they did not understand so they could show off to their mates how "on trend" they were. Perfect. Brilliant. Well done.  It was so well done the bloody politicians thought "oh great, we need some of that" and lack the numbfucks they are ploughed in and made successive decisions that just moved the dial further away from any possibility of self sufficiency....  The same thing is happening with EV's. Popular opinion and crap political decisions are gonna plunge into an all mighty mess when the volume of EV's tips over and the infrastructure we have cannot cope. At some point people and politicians will realise that to truly drive change quickly, you must lay proper foundations or, your bloody house will subside and become a mess.

So, it's too easy in my opinion to blame the politicians. Blame Brexit. FFS, really!  We need to take collective responsibility for what has happened. We have voted for parties with agendas and some of those agendas are directly responsible for some of the issues we have today. 

We have, through our actions (not just the decisions made by our politicians) shifted the balance, tipped it if you like, to a situation where we have become over reliant upon overseas imports of gas, in particular from Russia. This has put a huge amount of power in a small number of nations hands (much less producers of gas than oil) and when they decide to throttle back production, oh sorry, when they have outages that men less gas, we need to compete with every sucker in the world for that gas, and, in a "free market" that means we get stiffed.  Oh and by the way, if you think we have it bad, you should thank fcuk we are not in the EU and Poland, Germany and a few other countries who really are getting royally stiffed right now.

In the year to September 2021 Energy production in the UK was down 8.8% over the same period the previous year. A significant contributor was the weather! Unfavourable weather conditions meant that renewable generation fell by 17% in the period and as a share of total generation, renewable energy was down 4% to 35.9%, with wind generation being particularly affected, down by 30% on the previous year. By contrast the share attributed to fossil fuels ROSE 2.5% to 44.8%.  Well bugger me, where the fcuk are you all getting that "green energy" from? Stop believing the marketing bullshit please as a lot of it is classed as "green supply" as they use carbon offsetting, or ROC's - a paper bloody exercise to fool people into thinking that the energy they are using was actually "green"!  But hey, the customer is always right so let's give the customer what they asked for. Suckers!!!

So, here's the reason why, from a pound, shilling and pence perspective your energy bills have shot up recently.

The source of the above is OFGEM, the Regulator of the Industry. Not a politician or a dubious journalist or a megalomaniacs press corporation. Now, let's look at those dastardly large energy supply companies who are all ripping us off according to the BBC and others. Bar stewards the lot of them eh!  Well here is the last full figures, again from OFGEM re profits made by the energy supply businesses (the BBC journalists like Naga etc are too dumb it would seem to realise that like many companies they have other operations too, thankfully that do turn a profit).

A question to everyone on here that works for a company, has their own company, or is self employed. Would you get out of bed, and take all the shit and negativity that is thrown at you, for a pre-tax (not post tax!) profit for your efforts of between -4.04% to +1.75% return for that effort?  Has a customer ever called you out as being a rip off merchant for adding a "profit" on pass through goods say (so as a plumber on the price you paid for a boiler v what you charged the customer for the boiler) of between -4.04% to +1.75%?

Yes, as a "group", they may make more money on other operations. put if you are wanna quote the figures, then be accurate about what you are quoting on. Don't fudge it to make a point, or as in the case of the BBC breakfast presenters, you haven't got a clue about what you are reading about on your teleprompter!

When BBC Breakfast was "pushing" the Eon UK MD this week re getting a pledge that he would not "take to court any vulnerable customers for non payment of their energy bill", I was screaming him to ask her how many "vulnerable" customers the BBC had prosecuted/attempted to prosecute for non payment of TV licence fees. When she was demanding that the MD use company funds to subsidise vulnerable customers energy bills, I was screaming at the TV that he should ask her how she, and the BBC, could justify in these difficult times charging over 75 year olds, many of whom are not well off, the £160 or so it is for a TV licence. He should have asked her if she was going to campaign for the BBC to waive the fee, an d maybe take a pay cut herself to make it affordable, so the vulnerable were not put under pressure by the BBC during these cash strapped times.

It's tough. It's hard. But for many people in the UK it has been tough, and hard, every single day of their lives. They've had to make daily decisions on what they are going to sacrifice, give up, to ensure the absolute basics are provided for themselves, their kids, their families. Forgive me if I have absolutely zero sympathy or empathy for anyone on here, who can afford to run a sports car, a toy, a second or possibly a third, or even fourth car, just for fun.  Get over it. You're already one of the lucky ones. Suck it up. I doubt paying your energy bill will really be a problem nor will putting food in your mouths and clothes on your backs 

 

[Barrykearley]

You think that’s bad @C8RKH - most households in the uk are also hit with the bbc tax to fund their bullshit.