The Conservative Party

Don’t forget to tell him he doesn’t know how lucky he is to have access to bin bags and cardboard boxes.
Turns out he has 12 zero hour contract jobs.

He must have just been unlucky.

They stopped his universal credit because, although he has 12 jobs, he didn’t look for work hard enough.

They also gave him a holiday brochure for Rwandan holidays for some reason.
 
Crisis, what crisis?..


A great thread which explains in simple terms why 6% interest rates in the present day are every bit as bad, if not worse, than 14%-15% rates back in the 80s. And let’s not forget that if interest rates hit 6% there’s not a chance that mortgage interest rates will be 6% as well. You’ll be looking at 8%, 9%, or more. My current SVR is nearly 6% now and that’s before my lender has factored in the last interest rate rise, so I’m going to be looking at an SVR of around 10% if interest rates go up to 6%. Good job I’ve only got 17 years to run on my mortgage!
 
A great thread which explains in simple terms why 6% interest rates in the present day are every bit as bad, if not worse, than 14%-15% rates back in the 80s. And let’s not forget that if interest rates hit 6% there’s not a chance that mortgage interest rates will be 6% as well. You’ll be looking at 8%, 9%, or more. My current SVR is nearly 6% now and that’s before my lender has factored in the last interest rate rise, so I’m going to be looking at an SVR of around 10% if interest rates go up to 6%. Good job I’ve only got 17 years to run on my mortgage!
I did some numbers this am. My current mortgage of circa £200K and payment of £1,000 per month at sub 2% fix. If rates are 5% and mortgage rate is 7% when my fix ends then my payment would bounce to £1,700.

On top of energy and general inflation this is just not affordable for a huge chunk of the population. Disposable income will get wiped out.
 
I did some numbers this am. My current mortgage of circa £200K and payment of £1,000 per month at sub 2% fix. If rates are 5% and mortgage rate is 7% when my fix ends then my payment would bounce to £1,700.

On top of energy and general inflation this is just not affordable for a huge chunk of the population. Disposable income will get wiped out.

Tory Britain - governed by the people you can trust with the economy and your finances
 
I watched a video last night (can't find it now) from that well known leftie Peter Oborne. Who said that we are in a worse state than the 1970's and this was closer to the 1930. His words he said at some point the IMF are going to have to bail the UK out and then went on to say that he could a national government coming in due the incompetence of Truss.
Under Starmer with the ERG as official opposition?
 
I did some numbers this am. My current mortgage of circa £200K and payment of £1,000 per month at sub 2% fix. If rates are 5% and mortgage rate is 7% when my fix ends then my payment would bounce to £1,700.

On top of energy and general inflation this is just not affordable for a huge chunk of the population. Disposable income will get wiped out.



Exactly what they want .... they've also cut stamp duty so the rich can hoover up the repossessed houses.
 
The good news is the pound seems to have stabilised.
The bad news is that it's stabilised because investors are expecting a huge interest rate hike to make it attractive to them.
I'm afraid the average person's extra £170 per year due to the cut in the basic rate of tax will not only need to cover an extra £700 per year in energy, but also an additional £2500 per year in mortgage costs. That's just on average and some people are going to be hit a lot harder.
 
I suspect they are genuinely baffled as to why their idea that £10k per week for them is mere chickenfeed but £100 per week for someone poor is too much suddenly isn't holding ground
 
The good news is the pound seems to have stabilised.
The bad news is that it's stabilised because investors are expecting a huge interest rate hike to make it attractive to them.
I'm afraid the average person's extra £170 per year due to the cut in the basic rate of tax will not only need to cover an extra £700 per year in energy, but also an additional £2500 per year in mortgage costs. That's just on average and some people are going to be hit a lot harder.

what about Govt borrowing costs? Those had tripled yesterday.
 
what about Govt borrowing costs? Those had tripled yesterday.
Yep, that's going to have an even bigger effect on people's wellbeing when many public services get cut to save the money that will be used to service the debt.

If I was being cynical I would say it's all part of a plan to kill off the non-economically active who are dependent on social security, and encourage anyone with a few quid to opt for private healthcare and education so the state funded services can be run down even more.
 

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