David O'Day
Well-Known Member
it's like people are more likely to vote lib dem or greens at local elections
Do you want to discuss boring politics? (154 Viewers)
- Thread starter mrtrench
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it's like people are more likely to vote lib dem or greens at local elections
It will do but they reckon it can take 12-18 months for rate rises to have full effect….unless they cause indirect issues like US banking sector where regional banks are going bust…which could lead to credit crunch/reduced lending
We’re also fortunate that more people are on fixed mortgages these days. Go back a bit and the country would already be creaking from current rate rises
fernandopartridge
Well-Known Member
With that being so then why keep raising them every few weeks?
Theres an element of currency protection, once the Fed stops we probably will.
I think they were also hoping inflation would be dropping more by now as well though. As soon as they’re confident it is, they’ll pause and then cut soon after.
But I agree, really they should increase rates and wait for a bit to see its affects filter through. I reckon they may as well have done a bigger increase earlier and waited which could have had a better/quicker affect on inflation
They could easily have overtightened now without realising it
dutchman
Well-Known Member
They're not 'fixed' for the life of the mortgage though like they are in other countries. Many people must be coming to the end of their fixed term and will face much steeper rises.
shmmeee
Well-Known Member
Me. Monthly payments literally just went up almost 50%.
fernandopartridge
Well-Known Member
I was fortunate in that my house value had gone up 33% in 3 years so only had to pay about an extra 16% a month, still a lot of money though when taken with every other price increase.
shmmeee
Well-Known Member
Got a two year fix at 90% LTV, cos of course I did. Im lucky my income has gone up the last couple of years or I don’t know how I’d manage.
Just been talking to an unemployed single mum I know, she’s talking about moving back in with her 60+ parents because the benefits she gets don’t cover rent food and heating/electric.
duffer
Well-Known Member
Plans to abolish ‘feudal’ leasehold system in England and Wales dropped
Row between Michael Gove and No 10 results in end of promise to scrap leaseholdswww.theguardian.com
That's a real pity, it might have been one of the better policies proposed by the Tories.
Leasehold is a vast scam and there is a booming business in sweeping them up and preying on the unwary.
Inevitably it hurts the most vulnerable and poorest - the ones who can't access funds to buy themselves out of the trap.
I was surprised when the Tories proposed it, because it didn't feel like something their donors would like. I'm not surprised they've ditched it.
Yeah, I know. There will be a flow of people coming off fixed rates and there’s no doubt it’s painful for them. My point was more that if a majority of the country was on variable then the rate rises would’ve already caused wide spread issues but also probably would’ve helped to reduce inflation more than has happened so far. The hope is obviously inflation and thereby rates, will start to fall again before a majority have to remortgage but sustained high rates will cause the widespread problems
People have got used to ridiculously low rates, pretty much free cash, for way too long though. Think my first mortgage around 17-18 years ago was a fixed at 5.99. 18 months or so ago a friend fortunately fixed for 5 years at around 1.4%. That’s just crazy
ps In the US people Im guessing people just won’t move at the moment as they’ll be going onto a new 6.5-7% fixed for 30 years !
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Sky Blue Pete
Well-Known Member
Same that’s rough mate
shmmeee
Well-Known Member
Im in a very fortunate position that I can absorb this stuff. I really fear for the people I know who can’t.
Brighton Sky Blue
Well-Known Member
British Gas doubled our energy tariff and we come off our fixed rate mortgage next summer. Hence a season ticket for the football is in a spot of doubt
Sky Blue Pete
Well-Known Member
Same
shmmeee
Well-Known Member
Yeah energy is killing me too and I barely use anything.
fernandopartridge
Well-Known Member
Agreed, why should I be responsible for paying for the lender's subsequent actions
Brighton Sky Blue
Well-Known Member
They just seem to pluck a number out of thin air. Make billions in profits anyway and still increase the prices-thieves
David O'Day
Well-Known Member
Luckily i was able to build up a decent amount of credit with e-on to us as a buffer but even summer is going to be shit for people
dutchman
Well-Known Member
Dave Ramsey advises his followers to borrow no more than 75% for 15 years. The rest will still be paying their's off in their 70s.
On top of that many Americans now have car loans as big as home loans were some years ago.
clint van damme
Well-Known Member
Sunak's got the midas touch. Turns up at Southampton and they get relegated
Matt Le Tissier will be turning in his grave
fernandopartridge
Well-Known Member
Isn't it funny how all the Southampton players had the jab and now they've been relegated, makes yer think dunnit
fernandopartridge
Well-Known Member
What an utterly disingenuous person he is.
shmmeee
Well-Known Member
As people have been asking for policy, came across this which apparently is the basis for the 2024 Labour Manifesto:
labourlist.org
BSB/Ian look away now, the education bit is hardly inspiring. Some nice stuff especially on energy and industrial strategy though.
Revealed: Full draft policy platform that could form 2024 Labour manifesto - LabourList
Labour has drafted its most comprehensive policy programme yet for a Keir Starmer government, drawing up a provisional…
labourlist.org
BSB/Ian look away now, the education bit is hardly inspiring. Some nice stuff especially on energy and industrial strategy though.
Brighton Sky Blue
Well-Known Member
As people have been asking for policy, came across this which apparently is the basis for the 2024 Labour Manifesto:
Revealed: Full draft policy platform that could form 2024 Labour manifesto - LabourList
Labour has drafted its most comprehensive policy programme yet for a Keir Starmer government, drawing up a provisional…
BSB/Ian look away now, the education bit is hardly inspiring. Some nice stuff especially on energy and industrial strategy though.
I’m quitting education in a few months anyway. Would be nice if they invest in science in about 4 years’ time though
fatso
Well-Known Member
Wow, if only they'd of delivered a fraction of that in any of their previous tenures without crashing the economy, they would still be in power.As people have been asking for policy, came across this which apparently is the basis for the 2024 Labour Manifesto:
Revealed: Full draft policy platform that could form 2024 Labour manifesto - LabourList
Labour has drafted its most comprehensive policy programme yet for a Keir Starmer government, drawing up a provisional…
BSB/Ian look away now, the education bit is hardly inspiring. Some nice stuff especially on energy and industrial strategy though.
Time to vote "none of the above" as I'm getting so disillusioned with the state of British politics.
The Tories have proper fucked things up, but that Labour manifesto is so obviously under funded that its a joke.
Closing tax loopholes and removing non dom status just leads to an exodus of the wealthy, and they'd have to tax businesses out of existence to get close to funding that fairy tale manifesto.
Ian1779
Well-Known Member
You’re right - that education bit is rubbish. Written by consultants, for consultants.As people have been asking for policy, came across this which apparently is the basis for the 2024 Labour Manifesto:
Revealed: Full draft policy platform that could form 2024 Labour manifesto - LabourList
Labour has drafted its most comprehensive policy programme yet for a Keir Starmer government, drawing up a provisional…
BSB/Ian look away now, the education bit is hardly inspiring. Some nice stuff especially on energy and industrial strategy though.
Ian1779
Well-Known Member
Not sure you can legitimately argue that stopping tax evasion (which in essence is what they are) is bad for the country?
shmmeee
Well-Known Member
If you seriously think Labour crashed the economy there’s no helping you TBH.
Brighton Sky Blue
Well-Known Member
George Osborne’s greatest piece of work that
skybluetony176
Well-Known Member
Non dom status is an exodus of wealth. They want all the benefits for zero contribution to the very society they benefit from. If cancelling non dom status means they clear off then goodbye. Same with tax avoidance, fuck em. Let some one else who pays their tax take their place. Same for companies like Amazon who avoid paying taxes on profits they earn in this country. Why should hard working people struggling in this country subsidise the pencil dicked narcissist dick shaped penis substitute rocket vanity project?
fernandopartridge
Well-Known Member
Labour are going along with the idea behind it with this "cast iron fiscal rules" nonsense
Brighton Sky Blue
Well-Known Member
The public misconception on it is so strongly held I don’t see how you shake it.
dutchman
Well-Known Member
Just to be clear non-doms DO pay tax on any money earned in this country, they are only exempt from money earned abroad.