Cost of living!

[Rambo]

35 minutes ago, Sparky said:

The annual big hitters are freezer (ludicrous volumes of ice for my gin and tonics), central heating pump, audiovisual and, of course, kettle (ludicrous volume of hot beverages)

🤣

[C8RKH]

See Petrol and Diesel gone down.

Sainsbury's in Braehead, Glasgow selling both Unleaded and Diesel at 1.399. Best price I've seen.

[Kimbers]

And yet Power and water companies are warning prices may have to go up due to increased costs! Yet announce record Profits.

Banks charge out a high rate of interest for borrowing (On average) only half or less interest rates for savings. Yet announce record profits.

Food is still going up in price despite cuts in fuel costs and overheads slowing down. Yet Supermarkets announce record profits.

Shall I go on or do we all get the idea that we may, just may, be being ripped off?

[red vtec]

I attend a doo yesterday were the CIO of a wealth management co. Said it’s expected interest rates will go up another .75 over next two months. In the second half of the year inflation will rapidly come down. Central banks across the world are in the same position, they are engineering unemployment as that will help kill inflation, as it will cut spending. 
 

at the moment companies are selling less but making more profit. And yes they are pushing to see what the limit is on what people will pay. 
 

also explained we are now back to normal with interest rates, last ten years of low interest has been abnormal. Interesting times! 

[C8RKH]

There is definitely still money about and being spent. I was out yesterday to a wee village near Loch Lomond, Balmaha (lovely place if anyone gets the chance to go). The Oak Tree Inn was mobbed for lunch, people happily spending there money. Hotels are full. I do not doubt that some people are struggling, but a lot are just getting on with their lives. Maybe not buying new cars as much. But holidays, kitchens, eating out, etc all happening in droves...

I do believe the media and others have yet again walked us into this. It's like they want everyone to be depressed. 

[Sparky]

It may surprise some that I frequent numerous hostelries in search of libation.  Haven't found a quiet one yet, and my favourites are always very busy.  Demographic seems to be the young/single crowd, and seniors, all of which seem to have buckets of cash to throw around.  Not so much the poor buggers in the middle; those probably kicking themselves for pushing their standard of living beyond their means through mortgages and loans.

[Kimbers]

After months of complaining about my Electric Bill being £400 in Credit Scottish Power have finally dropped my DD by £62 a month. By my calculation, with what I am using, I get back on average £9 a month of my £400 Credit (after my usage is removed). so just over 3 years before I get my credit balance back then!

 

[C8RKH]

@Kimbers you can simply ask them to refund the £400. If there is no "debt" on the account, they cannot refuse unless they can "provide a valid reason for keeping your money." If they piss you about, tell them you have the right and that you'll complain to the Regulator.  It really is not hard.

[Kimbers]

Have you tried recently to get hold of a power company? Lord Lucan is a safer bet!

[C8RKH]

You need a getter supplier. I'm with OVO and can do it all over the app. Easy. Quick - change Direct Debit Date, amount and transfer any credit balance. Not my fault your with a supplier in the dark ages. 

[910Esprit]

14 minutes ago, Kimbers said:

Have you tried recently to get hold of a power company? Lord Lucan is a safer bet!

Just google their contact number - don't piss about on the website!  I've just been through exactly the same process with SP and got my £350 back - NB you can request a refund via their 'app' and set the default to what should happen to any credit...  Whether or not they will follow that default is another matter. 

Edited July 7, 2023 by 910Esprit

[red vtec]

On 07/07/2023 at 13:06, C8RKH said:

There is definitely still money about and being spent. I was out yesterday to a wee village near Loch Lomond, Balmaha (lovely place if anyone gets the chance to go). The Oak Tree Inn was mobbed for lunch, people happily spending there money. Hotels are full. I do not doubt that some people are struggling, but a lot are just getting on with their lives. Maybe not buying new cars as much. But holidays, kitchens, eating out, etc all happening in droves...

I do believe the media and others have yet again walked us into this. It's like they want everyone to be depressed. 

This is the exact example of what is currently the case. But as Interest rates climb, belts will be tightened. That is already starting to happen slowly as the interest rates are rising along with fiscical drag from increased tax bands.  Central banks across the world are in the same position, their tool to deal with inflation is to raise interest rates, and unemployment both of which will kill spending. 

[C8RKH]

And businesses that have over reached @red vtec and are poorly funded with little cash in the bank.

[Bibs]

£1.25 for a stamp, up from £1.10 and the third rise in 18 months. 

https://www.bbc.co.uk/news/business-66961877

I still think they are 29p when I buy them!! 

[Kimbers]

Water companies want £135 a year more from every household to help them tackle spills and leaks that they have already had the money to do, but gave it to shareholders instead.

I am not a fan of the Govt running businesses but I do think it's time to consider infrastructure businesses such as Water, trains and power being Nationalised.

https://www.bbc.co.uk/news/business-66979271

[C8RKH]

Do me a favour @Kimbers and do some proper research.

[exeterjeep]

15 minutes ago, theking said:

essential services like water, trains, and power

I personally would not include trains as a essential service not used a train for years. 

[C8RKH]

I agree @exeterjeep re trains, I would argue buses are much more essential.

I know a lot of people use trains to commute to jobs in London, but that's a choice whereas local bus services are an essential life line for many.

 

[LotusLeftLotusRight]

I used trains on a daily basis in the early 1980s. Back then BR had a terrible reputation, deservedly too. Overcrowded, unreliable, dirty, expensive, regular strikes. Sound familiar? When the decision was taken to privatise the network, there was all this nostalgia for the Golden Age of Steam. Old names like Great Western Railway (GWR), London North Eastern Railway (LNER), etc. were resurrected by the new franchises. The implication being that we would have renewed pride in operating our railways and an efficient privately run system that a Nationalized network could never hope to achieve. 

[C8RKH]

If we look back at the early days of privatisation some great things were achieved. For instance Virgin with the west coast line saw a massive investment in rolling stock and a significant uplift in passenger comfort, reliability, and on board facilities. It was a real pleasure to travel on the west coast line, compared to the east.

If you get on the modern new (Hitachi iirc) trains that GWR run from Paddington to Plymouth (a journey I did almost weekly for a year) then the quality of the rolling stock and onboard experience is light years away from the old BR days.

However, after several "re-tenderings" of the contract, the early focus on network rejuvenation (pride in operating as you put it @LotusLeftLotusRight) has been replaced with cost and corner cutting to boost profits and shareholder returns. But this is not unique to the Train Operating Companies (TOCs). We have had a period over the past 20 years that has seen the rise to prominence of the all powerful CFO.  CFO's understand numbers, but I have yet to meet a CFO that really understands what makes the business "tick" that they control. CFO's have become emboldened over the past 20 years and have grabbed control of just about everything. As a result, we have seen productivity, innovation, effectiveness and customer service all vanish, at an alarming rate. Previously well thought of and well run companies have literally been destroyed, or become a pale imitation of their once great selves.

All of this has been done as the CFO has become the "champion of shareholder value" - in other words, squeezing the fruit till the pips pop out and triumphantly handing those pips to investors, whilst the squashed fruit is left behind on the floor.  We have gone from a well run company being one that is self funded, with limited debt, strong profits and a return of say 3 - 7% to investors, to a largely US style system where qtrly growth of 2-8% is demanded, every quarter, and where debt is swallowed like a drug to theoretically drive growth. CFO's have become the captains at the wheel and as a result many companies have crashed and burned. Literally.

 

From a utilities perspective, look at Thames Water. A well run, well financed and relatively performing, but dull, company. Then along came the finance boys, then Macquarie, who raped, pillaged and looted, leaving an underfunded, debt heavy, basket case to limber on and crash into the walls of the hospital corridors.

[red vtec]

1 hour ago, C8RKH said:

I agree @exeterjeep re trains, I would argue buses are much more essential.

I know a lot of people use trains to commute to jobs in London, but that's a choice whereas local bus services are an essential life line for many.

 

Its not a choice to use trains to commute into London. Driving into London daily would be impossible for many, commuter trains have you by the short and curlies.

[C8RKH]

Agreed @red vtec but London, which will be a surprise to many, is not the whole of the UK, hence why I called it out separately.

[red vtec]

17 minutes ago, C8RKH said:

Agreed @red vtec but London, which will be a surprise to many, is not the whole of the UK, hence why I called it out separately.

Indeed its not, but I get rather sick of those in the North such as Andy Burnham, going on about he south. I've lived up north and some people are having a very nice life whilst many in the South do not enjoy the fruits of London. Burnham and ilk like to make out we are all living in mansions and taking private jets everywhere, whilst those in the north live in tents..

The issue with private train lines are most are foreign hence creaming off the money. I do agree BR were an utter crap fest.

 

[Kimbers]

My biggest issue and another reason I have never supported HS2 (which is another topic all together) is the cost of using the trains. Yes I know they reduce the carbon footprint (unless you take into account all the diesel rolling stock, where the electricity comes from etc etc. However they really are a shit show. 

We have had lots of instances in our business where trains are just a rediculous cost. Look at our last trip. We needed to recover 3 cars from Manchester, from Norwich we got the cheapest price of £84 each £232 in total. Then we would have had to get a taxi to the site 12 miles away prob costing another £30. There is no direct route so we would have to get off at Peterborough, wait half an hour then get on the train to the north.

In the end we took my car which cost us around £50 there and back.

Unless cost of tickets are more realistic then you will never replace the car. 

The only trouble is the politicians all think the way to make it viable is to make cars so much more expensive that the trains start to look good! Pffft!

[Chillidoggy]

Speaking as one who remembers British Rail, those memories are the reason I wouldn't wish to see a nationalised railway system again. Cancellations, delays, breakdowns, strikes, and of course, the ubiquitous "British Rail Sandwich", usually inedible, and curled up at the edges like a shoe from Istanbul.

Before all the current strikes, I asked a very good friend of mine (a staunch union guy), whether a nationalised rail industry would once again be as bad as it used to be. He said he thought things had changed in that respect, and felt the unions were rather more 'business-friendly' than during those times. But given what's going on right now, I cannot see how it would improve. I certainly don't like my taxes propping it all up; I don't see why I should pay for some other bugger to get to work. No-one ever coughed up for my petrol when I was working.

Oh, and I remember standing on the platform at Folkestone Central station in the '70's when the Inter-City 125 trains were being introduced. There was a poster on the waiting room wall of this swoopy-looking 125mph train, upon which someone had written "Now you can be late, quicker."