Todays budget

[Newbie to this]

10 hours ago, Weihrauch17 said:

I take you don't have kids with a mortgage!

No I don't, but in all seriousness, although high interest rates would be good for me personally. I know it will be bad for the country.

We have been on borrowed time since 2008. The crash was never allowed to happen properly, add to that everything else, and here we are.

Interest rates have been way too low, for far too long.people have got far too comfortable with low interest payments on money the probably couldn't really afford to borrow in the first place.

Hopefully this will sort out the broken housing market, again I stand to lose out if prices fall (although do I really), but they certainly need to. Young hard working people just cannot afford to get on the property ladder.

Edited September 28, 2022 by Newbie to this

[Scully]

8 hours ago, Weihrauch17 said:

I will stick with the factual evidence. The pound, markets, inflation and interest rates.  Should I expect Politicians to make life much worse for all of us and thank them!  Jesus.  When the Govt stops people being able to pay their rent or mortgage they are done.

Good grief! You really are into amateur dramatics aren’t you! 🙂
Are you employed? Are you facing immediate threat of redundancy? Married? Is your wife working? Is she facing immediate threat of redundancy? Mortgaged? Took out a mortgage you can just about manage if everything in the garden is rosy for the next 25 years? Are you currently at  serious risk of losing your home?

Kids? Are they fit and well? If you think things are expensive now wait til they go to uni’! 😂 You’re going to need a rubber mattress the way you’re going on!  
Car? On HP or paid for? Holiday/s booked?  
Is anything you claim politicians have done effecting you currently, RIGHT NOW, or is it just the fear of what might happen? 

[Weihrauch17]

3 hours ago, Scully said:

Good grief! You really are into amateur dramatics aren’t you! 🙂
Are you employed? Are you facing immediate threat of redundancy? Married? Is your wife working? Is she facing immediate threat of redundancy? Mortgaged? Took out a mortgage you can just about manage if everything in the garden is rosy for the next 25 years? Are you currently at  serious risk of losing your home?

Kids? Are they fit and well? If you think things are expensive now wait til they go to uni’! 😂 You’re going to need a rubber mattress the way you’re going on!  
Car? On HP or paid for? Holiday/s booked?  
Is anything you claim politicians have done effecting you currently, RIGHT NOW, or is it just the fear of what might happen? 

None of that is worthy of an answer, you live in a bubble.

[oowee]

4 hours ago, Scully said:

Is anything you claim politicians have done effecting you currently, RIGHT NOW, or is it just the fear of what might happen? 

It's effecting us all right now. You may not see it you may not notice but that's maybe a privilege. 

Looks like the Bank of E has pulled off a blinder today with an unlimited intervention. That will help. 

[Jaymo]

20 minutes ago, oowee said:

It's effecting us all right now. You may not see it you may not notice but that's maybe a privilege. 

Looks like the Bank of E has pulled off a blinder today with an unlimited intervention. That will help. 

Not according to FX markets

[Smokersmith]

Drama or not, it’s a bit odd that the Government policy seems to be in completely the opposite direction to that of the Bank of England.

 I also struggle to understand how we’re going to achieve this massive growth when every sector is severely undermanned at the moment.

[oowee]

34 minutes ago, Jaymo said:

Not according to FX markets

Not seen the FX Just seen it now)  but markets are up and bonds have stabilized. At least the bits I am interested in. (edit now I am home looks like it's not working 😞 )

13 minutes ago, Smokersmith said:

Drama or not, it’s a bit odd that the Government policy seems to be in completely the opposite direction to that of the Bank of England.

 I also struggle to understand how we’re going to achieve this massive growth when every sector is severely undermanned at the moment.

Exactly. The IMF comment is damming.

Chancellor says more to come and this leads to more uncertainty.

Edited September 28, 2022 by oowee

[udderlyoffroad]

14 minutes ago, oowee said:

Exactly. The IMF comment is damming.

The IMF had naff-all to say about us borrowing, and promptly spunking up the wall, Billions to combat a winter flu.

Maybe they should sit this one out.

What do they have to say about other tax regimes I wonder.  Oh, right, silence.

Am increasingly of the opinion that if the IMF or the EU is against it, it's probably a good call.

[Scully]

1 hour ago, Weihrauch17 said:

None of that is worthy of an answer, you live in a bubble.

Ah, now we’re getting somewhere! Your refusal to answer speaks volumes! 🙂

Let me explain my circumstances. Boring admittedly, but I’ll make it as brief as possible. 
Mid ‘90’s. I was in a mundane but very well paid job in which generations of locals had been employed their entire lives, including my Dad his brother and most of his mates since demob’. My mother and sister for a spell also. 
My partner became pregnant so I took on a mortgage and within 6 months of doing so, an Irish company bought us out, closed the factory and made redundant the entire staff. A huge blow to the local small market town as very few families were unaffected. 
I was given 10k redundancy, 1k for each year I’d been there. I was offered another job in a town 12 miles away, and in hindsight possibly should have taken it, but was tired of shift work. I decided to go self employed and by the time had established my business the 10k had gone, no savings and we lived hand to mouth. As well as private work I subbed to other contractors and eventually found work with a mate in the building trade, so subbed to him on a fairly full time basis, but when he went quiet ( he never pushed for work as he didn’t really need the money ) all six staff would go their separate ways until work picked up again. 
Partner got pregnant with twins, so we were looking at three kids under 5 by the time I was 40. Planned on an extension but that fell through due to lack of work. 
HSBC asked if they could review my finances, another way of finding out if they can sell you something, and said they couldn’t improve on the insurances etc I had in place, but could improve on my mortgage, but based on my income they were baffled as to how I was paying it, so wouldn’t take me on! Didn’t matter to me, was happy where I was. 
One of the twins was born with serious  health issues so enforced time off work without pay, and constant travelling to Newcastle to visit in intensive care. After six weeks we were persuaded to switch off his life support as his already under developed lungs had picked up enough infection to kill him ( HD staff with severe colds ) even if they’d been healthy to begin with. My partner went to pieces, but I had to continue working when possible as we still had two kids and a mortgage to care for. No help from anywhere except 1k which was all my parents could afford given to us to get us through the next month. 
We now had a funeral and the smallest coffin you’ve ever seen to pay for. Partner heading for serious depression not helped by a friend who had gone through similar and had them both dwelling in morbidity. 
Anyhow, scraped our way through, then a world recession a few years later when mate closed his company as work dried up. Scraped a living by ringing round, persuading and begging for work. 
We were never wealthy, but my kids didn’t miss out on much, and holidays consisted of a week a year in a static caravan somewhere on the coast, if the distinctly third hand Disco’ I bought got us there and more importantly, back. It broke down in Tranent once but that’s another story. 🙂They never whinged or complained once. 
We’ve had longer and more expensive holidays abroad since, when they were in their teens, as work picked up, and despite hovering on the governments official poverty line for several years, we got by. 

My Dad died quite some time ago, and when my Mam was diagnosed with terminal lung cancer I took time off again to care for her; my sister did days ( but she has learning difficulties so not straightforward ) and I covered nights, going to work when possible. 
I used the inheritance from the sale of her house to pay off my own mortgage, and when my ex and I split, gave most of the money from the sale of the house to my two kids. I now again have no savings and no pension, but live off what my partner and I earn.  I will never be able to afford to retire, but it doesn’t bother me in the slightest as I never would anyhow. Last year I earned 21k gross. 
It has never once occurred to me that politicians were the root of any financial misfortune we’ve had, we just got on with it. 
Told you it was boring. 🙂

1 hour ago, oowee said:

It's effecting us all right now. You may not see it you may not notice but that's maybe a privilege. 

 

So people keep telling me. 🤷‍♂️ In what way am I privileged?  

[Mungler]

23 minutes ago, udderlyoffroad said:

The IMF had naff-all to say about us borrowing, and promptly spunking up the wall, Billions to combat a winter flu.

Maybe they should sit this one out.

What do they have to say about other tax regimes I wonder.  Oh, right, silence.

Am increasingly of the opinion that if the IMF or the EU is against it, it's probably a good call.

There’s a lot of remainers taking the opportunity to sharpen their knives for sure.

[Mungler]

10 minutes ago, Scully said:

Ah, now we’re getting somewhere! Your refusal to answer speaks volumes! 🙂

Let me explain my circumstances. Boring admittedly, but I’ll make it as brief as possible. 
Mid ‘90’s. I was in a mundane but very well paid job in which generations of locals had been employed their entire lives, including my Dad his brother and most of his mates since demob’. My mother and sister for a spell also. 
My partner became pregnant so I took on a mortgage and within 6 months of doing so, an Irish company bought us out, closed the factory and made redundant the entire staff. A huge blow to the local small market town as very few families were unaffected. 
I was given 10k redundancy, 1k for each year I’d been there. I was offered another job in a town 12 miles away, and in hindsight possibly should have taken it, but was tired of shift work. I decided to go self employed and by the time had established my business the 10k had gone, no savings and we lived hand to mouth. As well as private work I subbed to other contractors and eventually found work with a mate in the building trade, so subbed to him on a fairly full time basis, but when he went quiet ( he never pushed for work as he didn’t really need the money ) all six staff would go their separate ways until work picked up again. 
Partner got pregnant with twins, so we were looking at three kids under 5 by the time I was 40. Planned on an extension but that fell through due to lack of work. 
HSBC asked if they could review my finances, another way of finding out if they can sell you something, and said they couldn’t improve on the insurances etc I had in place, but could improve on my mortgage, but based on my income they were baffled as to how I was paying it, so wouldn’t take me on! Didn’t matter to me, was happy where I was. 
One of the twins was born with serious  health issues so enforced time off work without pay, and constant travelling to Newcastle to visit in intensive care. After six weeks we were persuaded to switch off his life support as his already under developed lungs had picked up enough infection to kill him ( HD staff with severe colds ) even if they’d been healthy to begin with. My partner went to pieces, but I had to continue working when possible as we still had two kids and a mortgage to care for. No help from anywhere except 1k which was all my parents could afford given to us to get us through the next month. 
We now had a funeral and the smallest coffin you’ve ever seen to pay for. Partner heading for serious depression not helped by a friend who had gone through similar and had them both dwelling in morbidity. 
Anyhow, scraped our way through, then a world recession a few years later when mate closed his company as work dried up. Scraped a living by ringing round, persuading and begging for work. 
We were never wealthy, but my kids didn’t miss out on much, and holidays consisted of a week a year in a static caravan somewhere on the coast, if the distinctly third hand Disco’ I bought got us there and more importantly, back. It broke down in Tranent once but that’s another story. 🙂They never whinged or complained once. 
We’ve had longer and more expensive holidays abroad since, when they were in their teens, as work picked up, and despite hovering on the governments official poverty line for several years, we got by. 

My Dad died quite some time ago, and when my Mam was diagnosed with terminal lung cancer I took time off again to care for her; my sister did days ( but she has learning difficulties so not straightforward ) and I covered nights, going to work when possible. 
I used the inheritance from the sale of her house to pay off my own mortgage, and when my ex and I split, gave most of the money from the sale of the house to my two kids. I now again have no savings and no pension, but live off what my partner and I earn.  I will never be able to afford to retire, but it doesn’t bother me in the slightest as I never would anyhow. Last year I earned 21k gross. 
It has never once occurred to me that politicians were the root of any financial misfortune we’ve had, we just got on with it. 
Told you it was boring. 🙂

So people keep telling me. 🤷‍♂️ In what way am I privileged?  

Reminds me of the Life of Brian. Crucifixion - you lucky ******. Pilots pet.

Yeah that’s a tale of privilege with a small p.

[oowee]

35 minutes ago, udderlyoffroad said:

The IMF had naff-all to say about us borrowing, and promptly spunking up the wall, Billions to combat a winter flu.

Maybe they should sit this one out.

What do they have to say about other tax regimes I wonder.  Oh, right, silence.

Am increasingly of the opinion that if the IMF or the EU is against it, it's probably a good call.

Until we have to ask for a bailout. 

[Scully]

14 minutes ago, Mungler said:

Reminds me of the Life of Brian. Crucifixion - you lucky ******. Pilots pet.

Yeah that’s a tale of privilege with a small p.

😀👍

[Mice!]

2 hours ago, Scully said:

Ah, now we’re getting somewhere! Your refusal to answer speaks volumes! 🙂

Let me explain my circumstances. Boring admittedly, but I’ll make it as brief as possible. 
Mid ‘90’s. I was in a mundane but very well paid job in which generations of locals had been employed their entire lives, including my Dad his brother and most of his mates since demob’. My mother and sister for a spell also. 
My partner became pregnant so I took on a mortgage and within 6 months of doing so, an Irish company bought us out, closed the factory and made redundant the entire staff. A huge blow to the local small market town as very few families were unaffected. 
I was given 10k redundancy, 1k for each year I’d been there. I was offered another job in a town 12 miles away, and in hindsight possibly should have taken it, but was tired of shift work. I decided to go self employed and by the time had established my business the 10k had gone, no savings and we lived hand to mouth. As well as private work I subbed to other contractors and eventually found work with a mate in the building trade, so subbed to him on a fairly full time basis, but when he went quiet ( he never pushed for work as he didn’t really need the money ) all six staff would go their separate ways until work picked up again. 
Partner got pregnant with twins, so we were looking at three kids under 5 by the time I was 40. Planned on an extension but that fell through due to lack of work. 
HSBC asked if they could review my finances, another way of finding out if they can sell you something, and said they couldn’t improve on the insurances etc I had in place, but could improve on my mortgage, but based on my income they were baffled as to how I was paying it, so wouldn’t take me on! Didn’t matter to me, was happy where I was. 
One of the twins was born with serious  health issues so enforced time off work without pay, and constant travelling to Newcastle to visit in intensive care. After six weeks we were persuaded to switch off his life support as his already under developed lungs had picked up enough infection to kill him ( HD staff with severe colds ) even if they’d been healthy to begin with. My partner went to pieces, but I had to continue working when possible as we still had two kids and a mortgage to care for. No help from anywhere except 1k which was all my parents could afford given to us to get us through the next month. 
We now had a funeral and the smallest coffin you’ve ever seen to pay for. Partner heading for serious depression not helped by a friend who had gone through similar and had them both dwelling in morbidity. 
Anyhow, scraped our way through, then a world recession a few years later when mate closed his company as work dried up. Scraped a living by ringing round, persuading and begging for work. 
We were never wealthy, but my kids didn’t miss out on much, and holidays consisted of a week a year in a static caravan somewhere on the coast, if the distinctly third hand Disco’ I bought got us there and more importantly, back. It broke down in Tranent once but that’s another story. 🙂They never whinged or complained once. 
We’ve had longer and more expensive holidays abroad since, when they were in their teens, as work picked up, and despite hovering on the governments official poverty line for several years, we got by. 

My Dad died quite some time ago, and when my Mam was diagnosed with terminal lung cancer I took time off again to care for her; my sister did days ( but she has learning difficulties so not straightforward ) and I covered nights, going to work when possible. 
I used the inheritance from the sale of her house to pay off my own mortgage, and when my ex and I split, gave most of the money from the sale of the house to my two kids. I now again have no savings and no pension, but live off what my partner and I earn.  I will never be able to afford to retire, but it doesn’t bother me in the slightest as I never would anyhow. Last year I earned 21k gross. 
It has never once occurred to me that politicians were the root of any financial misfortune we’ve had, we just got on with it. 
Told you it was boring. 🙂

So people keep telling me. 🤷‍♂️ In what way am I privileged?  

So you had to knuckle down and make do with what you had/ could get. I don't mean for that to sound as harsh as it reads, but too many people expect everything handed to them.

And I'm sure many in your situation these days would simply choose not to work.

[Mungler]

2 minutes ago, Mice! said:

And I'm sure many in your situation these days would simply choose not to work.

Or would blame the government or would blame anyone with more than them.

We all have to row our own boats regardless of government.

[clangerman]

yes let’s blame the hard working tax payers victim of these lying thieves lining pockets of the wealthy not like we employ them to carry out wishes of the majority who object is it 

[oowee]

1 hour ago, Mungler said:

Or would blame the government or would blame anyone with more than them.

We all have to row our own boats regardless of government.

Of course we do but at the same time we expect the govt to ensure we have a fair and safe environment to do it in. 

[Scully]

1 hour ago, Mice! said:

So you had to knuckle down and make do with what you had/ could get. I don't mean for that to sound as harsh as it reads, but too many people expect everything handed to them.

And I'm sure many in your situation these days would simply choose not to work.

The thing is, it’s what I thought everyone did, but apparently not. You just get on with it. Those who believe politicians owe them a duty of care, or anything for that matter, are seriously naive.
Your last sentence is interesting,  as my ex, although working throughout her life, was from a quite rough council estate where many lived off benefits, and she made it plain that she was quite happy at the time to allow our mortgage to lapse and allow our Provider to claim the property if it meant we could visit our sick child on a daily basis! She would have been more than happy to live off the state as her mother had reluctantly been forced to. My ex needed me to drive her to Newcastle as she herself isn’t that confident a driver. The fact I insisted on working as much as possible to pay the mortgage, was a major cause of resentment for me from her. She was ready to just throw in the towel and live off the state, and within 18 months later she made a serious attempt to do just that by planning to leave and take the kids with her. 

[Scully]

1 hour ago, clangerman said:

yes let’s blame the hard working tax payers victim of these lying thieves lining pockets of the wealthy not like we employ them to carry out wishes of the majority who object is it 

And right on cue! 😄

 

[Scully]

58 minutes ago, oowee said:

Of course we do but at the same time we expect the govt to ensure we have a fair and safe environment to do it in. 

Are we currently living in an unfair or unsafe environment ? If not then what makes it so? What in your opinion would make it fairer or safer if you consider it to be currently unsafe or unfair? 
Economic stability has never existed to my knowledge. Hasn’t it always been a series of ups and downs for one reason or another? 
We can sit about wringing our hands, having a whine and whinge, but what will that achieve??
 

[Mice!]

27 minutes ago, Scully said:

Your last sentence is interesting,  as my ex, although working throughout her life, was from a quite rough council estate where many lived off benefits, and she made it plain that she was quite happy at the time to allow our mortgage to lapse and allow our Provider to claim the property if it meant we could visit our sick child on a daily basis

I can understand that,  I can't think of anything worse than one of my kids being seriously ill.

3 minutes ago, Scully said:

Are we currently living in an unfair or unsafe environment ? If not then what makes it so? What in your opinion would make it fairer or safer if you consider it to be currently unsafe or unfair? 
Economic stability has never existed to my knowledge. Hasn’t it always been a series of ups and downs for one reason or another? 
We can sit about wringing our hands, having a whine and whinge, but what will that achieve??
 

If we are still able to spend money and time doing hobbies, taking the kids places, book holidays, do home improvements, and see friends then I'd say life is good. 

1 hour ago, oowee said:

Of course we do but at the same time we expect the govt to ensure we have a fair and safe environment to do it in. 

 

[ditchman]

when was the last time we went to the IMF ...1970's ?....didnr we have to go twice.....and it ended up being called the International Momentary Fund ?

[clangerman]

21 minutes ago, Scully said:

And right on cue! 😄

 

ah bless you first cane rod bent pin and tiny worm looking for a bite 

[oowee]

1 hour ago, Scully said:

Are we currently living in an unfair or unsafe environment ? If not then what makes it so? What in your opinion would make it fairer or safer if you consider it to be currently unsafe or unfair? 
Economic stability has never existed to my knowledge. Hasn’t it always been a series of ups and downs for one reason or another? 
We can sit about wringing our hands, having a whine and whinge, but what will that achieve??
 

Economic stability comes from a prudent approach to finance. Of course there will be some impacts from unforeseen national or global changes. They should not be started by the Govt. No one would expect a member of the G7, a reserve currency to adopt policies similar to those in the third world.

Unsafe? Yes it is financially unsafe with these amateur's. Billions of our money has been wasted in the last two days. We have to pay for it. 

Up's and downs 

We can vote these wasters out. 

 

Edited September 28, 2022 by oowee

[Scully]

51 minutes ago, clangerman said:

ah bless you first cane rod bent pin and tiny worm looking for a bite 

Nice try, but you weren’t fishing! 🙂