2%inflation??

[TOPGUN749]

Where do these experts get their inflation figures from? Had my car insurance renewal today,they asked for 67% more than a year ago! Haggled them down to 31%,but 4 times my pension increase of £17 a week!

True inflation must still be averaging 10% surely?

[TIGHTCHOKE]

6 minutes ago, TOPGUN749 said:

Where do these experts get their inflation figures from? Had my car insurance renewal today,they asked for 67% more than a year ago! Haggled them down to 31%,but 4 times my pension increase of £17 a week!

True inflation must still be averaging 10% surely?

"You want the truth, you can't handle the truth."

Edited August 14 by TIGHTCHOKE

[Stonepark]

I had similar increase proposed and just changed companies and ended up saving £100 on last year's instead of extra £375.

[TOPGUN749]

24 minutes ago, Stonepark said:

I had similar increase proposed and just changed companies and ended up saving £100 on last year's instead of extra £375.

Nothing lower than last year for me,Rias comes close though!

[oldypigeonpopper]

Hello, Your right, It is getting beyond a joke now in UK, Pre Covid prices were stable although leaving the EU did not help , now it is a free for all take it or leave it attitude just like car insurance although i did manage to sort mine but had to go higher on excess to get a lower quote, ended up with Tesco but slightly higher than last year,  cost me £247 and i do less than 5000 a year, saying this a local broker could not find cheaper than  £700, I think if i was not needing visits to the Churchill and maybe future procedures i would go live in Spain, !!!!!!

Edited August 14 by oldypigeonpopper

[Raja Clavata]

https://www.gov.uk/government/news/motorists-to-avoid-annual-eu-price-hike-thanks-to-brexit-powers

 

[harkom]

On a very basic comparison for the basics - 

COOP - 2 weeks ago Cornflakes 80p

           - 1 week ago        "            £1.05

 

 hmmm?   =  > 20% increase.

[TOPGUN749]

3 minutes ago, harkom said:

On a very basic comparison for the basics - 

COOP - 2 weeks ago Cornflakes 80p

           - 1 week ago        "            £1.05

 

 hmmm?   =  > 20% increase.

Wow 31% up!

[Mungler]

The government are about to dramatically increase the pay for doctors and train drivers. We’re not even 2 months in. 

The queue will be forming with all the civil servants, the rest of the NHS, the fire service…

Decent ding dong in Russia / Middle East over the Winter with a spike in energy prices.

I don’t see inflation going away anytime soon. 

[Weihrauch17]

36 minutes ago, Mungler said:

The government are about to dramatically increase the pay for doctors and train drivers. We’re not even 2 months in. 

The queue will be forming with all the civil servants, the rest of the NHS, the fire service…

Decent ding dong in Russia / Middle East over the Winter with a spike in energy prices.

I don’t see inflation going away anytime soon. 

This they are truly incompetent and insane in equal measures.  Two years to get inflation down and they come and reverse it in weeks.

[oldypigeonpopper]

2 hours ago, harkom said:

On a very basic comparison for the basics - 

COOP - 2 weeks ago Cornflakes 80p

           - 1 week ago        "            £1.05

 

 hmmm?   =  > 20% increase.

Hello, Tesco is just the same, maybe even more of a rise in products than the Co Op , Then consider a 10/15 pence more for Tesco Wheatabix selling 1000s of boxes a week ??

[12gauge82]

I think a lot of it, are certain companys capitalising on advertised inflation, knowing the public are primed for price rises and then over inflating their prices, which in turn drives real inflation. 

[Mungler]

5 hours ago, 12gauge82 said:

I think a lot of it, are certain companys capitalising on advertised inflation, knowing the public are primed for price rises and then over inflating their prices, which in turn drives real inflation. 

That’s normally part of the inflationary spiral, followed by people asking for more wages because the price of everything continues to go up (and repeat).

Absolute hallmark of Labour in the 60’s / 70’s. Indeed, I think it’s even commonly accepted that Labour and inflation go hand in hand.

We know Labour are currently putting the final touches on their Marxist budget which they’ll announce in October - if it’s as bad for business as I think it could be, I’d be intrigued to see how the markets react.

[Doormat]

I hear you..

slightly off topic (but related)

Something is definitely brewing, I work for a well established engineering firm, work is dropping off alarmingly, other businesses near to us are struggling massively- loads of redundancies. My son (17) says many of his friends who have apprenticeships in various roles are saying things are looking bad for them. Keep hearing gossip that labour will probably put taxes up in the next budget, just in time for winter fuel bills to bite too - double whammy!!

Nope it’s not looking good at all and with the recent migrant/ Muslim chapter fuelling anger and resentment…I don’t think it’s far fetched to think the torch paper will very soon be lit…. BOOM!!! 
 

Something very bad is brewing… you can sense it. If Trump wins the knock on effect  will be enormous… NATO ….Ukraine.. gas supplies to Europe, job losses, public anger and resentment.

The media is keeping pretty quiet but the signs are there to see for all.

 

Edit : For the past 18mths we’ve bolted down the hatches, not spent nothing.  We both work, no debts (at all) don’t drink, smoke, gamble, follow fashion etc etc we live VERY frugal lives. Many of our friends decided to follow us and they too have stopped spending massively. I think a lot of people are gearing up ready. The less you spend the more you save, the more you save the more you want… it’s the exact opposite of the law of capitalism…” Keep em workin’ Keep em spendin”

 Maybe we’ve woken up and opened our eyes and thought **** this!! Therein lies the problem, globalisation and capitalism go hand in hand once people knuckle down and stop spending the whole thing starts grinding to a halt.

Edited August 15 by Doormat

[JohnfromUK]

1 hour ago, Mungler said:

Absolute hallmark of Labour in the 60’s / 70’s. Indeed, I think it’s even commonly accepted that Labour and inflation go hand in hand.

Inflation and unemployment.  There is little doubt that Labour's new rules on 'workers rights' with the accompanying rise in cost of employment (to employers) will inhibit growth and recruitment. 

https://fullfact.org/economy/labour-unemployment-record/

The 'workers rights' rule changes are also likely to have a negative effect on productivity, an area where the UK is already poor compared to (around 15% below) for instance USA, Germany, France.

https://commonslibrary.parliament.uk/research-briefings/sn02791/

In order to award remuneration increases without stoking up inflation, the additional money must be found from improved productivity per member of staff. 

[TIGHTCHOKE]

Get yourselves ready for the FIRST "Winter of DISCONTENT" from our new government.   

[Mungler]

51 minutes ago, TIGHTCHOKE said:

Get yourselves ready for the FIRST "Winter of DISCONTENT" from our new government.   

With the doctors and train drivers wedged out they’re all going to come knocking - and why wouldn’t they? It’s Labour.

The train driver deal is a joke. Instead of pushing the important long term reforms (Sunday working without everyone going on strike) as part of the deal for more money, they’ve just written the cheque for more money. 

Unions support Labour, Labour support unions and both want a bigger state and state dependancy. 

Problem is, it all needs paying for by tax paying people and businesses. Everyone has to run with efficiently and in mind to make a profit, else they go under / it’s pointless going to work. 

 

Edited August 15 by Mungler

[12gauge82]

2 hours ago, Mungler said:

That’s normally part of the inflationary spiral, followed by people asking for more wages because the price of everything continues to go up (and repeat).

Absolute hallmark of Labour in the 60’s / 70’s. Indeed, I think it’s even commonly accepted that Labour and inflation go hand in hand.

We know Labour are currently putting the final touches on their Marxist budget which they’ll announce in October - if it’s as bad for business as I think it could be, I’d be intrigued to see how the markets react.

Agreed

[old man]

9 hours ago, 12gauge82 said:

I think a lot of it, are certain companys capitalising on advertised inflation, knowing the public are primed for price rises and then over inflating their prices, which in turn drives real inflation. 

Astute observation.

They know we have to buy?

1 hour ago, JohnfromUK said:

Inflation and unemployment.  There is little doubt that Labour's new rules on 'workers rights' with the accompanying rise in cost of employment (to employers) will inhibit growth and recruitment. 

https://fullfact.org/economy/labour-unemployment-record/

The 'workers rights' rule changes are also likely to have a negative effect on productivity, an area where the UK is already poor compared to (around 15% below) for instance USA, Germany, France.

https://commonslibrary.parliament.uk/research-briefings/sn02791/

In order to award remuneration increases without stoking up inflation, the additional money must be found from improved productivity per member of staff. 

I struggle to find the incentive for anyone to work harder John.

Just more of the kind of sameish political carp with mp's sitting pretty.

[12gauge82]

2 hours ago, old man said:

 

I struggle to find the incentive for anyone to work harder John.

Just more of the kind of sameish political carp with mp's sitting pretty.

And that is also bang on the money. 

For years think tanks have analysed to death why UK productivity is so low, without ever reaching a definitive answer. I don't believe there's any riddle to solve, it appears obvious that on one side, the UK has wrapped itself up in red tape and bureaucracy and on the other, the UK workforce is so cheesed off with their quality of life, the jobs market (low wage, low skill labour, thanks to years of EU membership), no hope of doing better and constantly constrained and criticised by government for factors having nothing to do with them, it's really not surprising we have a clock in, clock out workforce, utterly unmotivated to be dynamic and do better. 

[TIGHTCHOKE]

7 minutes ago, 12gauge82 said:

And that is also bang on the money. 

For years think tanks have analysed to death why UK productivity is so low, without ever reaching a definitive answer. I don't believe there's any riddle to solve, it appears obvious that on one side, the UK has wrapped itself up in red tape and bureaucracy and on the other, the UK workforce is so cheesed off with their quality of life, the jobs market (low wage, low skill labour, thanks to years of EU membership), no hope of doing better and constantly constrained and criticised by government for factors having nothing to do with them, it's really not surprising we have a clock in, clock out workforce, utterly unmotivated to be dynamic and do better. 

I can understand your feelings.

[oowee]

Brexit = additional inflation. 

 

[JohnfromUK]

2 hours ago, old man said:

I struggle to find the incentive for anyone to work harder John.

Yes, I agree.  But we need a system that rewards hard work and success, not penalises it by higher taxes starting at quite moderate levels.

For example, basic rate of tax (say 20% tax) say to £50K, basic+ rate of tax from maybe £50K to 75K (say 25% tax),  upper rate of tax £75K to 150K (say 40%), and top rate say above £150K (say 50%).

People on relatively 'basic' salaries need to see that although they may pay a little more tax as they move up the ladder, it will be progressive and not a step change.

[HantsRob]

Lets not forget that the 20% VAT mark is now seen as normal, rather than the older 17.5% rate. 
That's discretely been adopted as normal. 

 

We are still paying for people's furlough, which for someone who didn't stop working felt like it went on for far too long and too many folk abused it. 

28 minutes ago, JohnfromUK said:

Yes, I agree.  But we need a system that rewards hard work and success, not penalises it by higher taxes starting at quite moderate levels.

For example, basic rate of tax (say 20% tax) say to £50K, basic+ rate of tax from maybe £50K to 75K (say 25% tax),  upper rate of tax £75K to 150K (say 40%), and top rate say above £150K (say 50%).

People on relatively 'basic' salaries need to see that although they may pay a little more tax as they move up the ladder, it will be progressive and not a step change.

https://taxscape.deloitte.com/measures-autumn-statement-2022/personal-tax-thresholds-frozen-until-april-2028.aspx

 

It's now frozen til April 2028, meaning the gov will get more cash for longer as people's wages go up and over limits, rather than inline.

[TIGHTCHOKE]

46 minutes ago, HantsRob said:

Lets not forget that the 20% VAT mark is now seen as normal, rather than the older 17.5% rate. 
That's discretely been adopted as normal. We are still paying for people's furlough, which for someone who didn't stop working felt like it went on for far too long and too many folk abused it. https://taxscape.deloitte.com/measures-autumn-statement-2022/personal-tax-thresholds-frozen-until-april-2028.aspx It's now frozen til April 2028, meaning the gov will get more cash for longer as people's wages go up and over limits, rather than inline.

Yes, it was greatly abused.