£10 Christmas benefits bonus paid out since 1972 scrapped by Tories
- The Government has axed a £10 Christmas Bonus payment designed to help hard-up families on benefits.
The payment was set up to cover the extra cost of the festive period for cash-strapped families.
But it has been controversially scrapped.
And now critics have blasted the government for being "despicable" and "Scrooges". -
More: https://www.coventrytelegraph.net/ne...bonus-15558217
Had that tenner in 1972 kept pace with the inflation rate, as the State Pension has, then the Christmas bonus would have been £125 in 2017 according to the Bank of England's inflation calculator. Found here: https://www.bankofengland.co.uk/mone...ion-calculator
Re: £10 Christmas benefits bonus paid out since 1972 scrapped by Tories
Great research. Well done
Re: £10 Christmas benefits bonus paid out since 1972 scrapped by Tories
Ten quid today is the equivalent of 80p in 1972. Put another way, the pound has lost over 90% of its purchasing power during that 46-year span. Sure, it's been offset to a large degree with increases in pay and welfare payments. But when everything goes tits up, after the first black swan domino topples over all the rest, and hyperinflation causes it to lose 99.9% of its purchasing and people's life savings denominated in pounds - even if it's in the millions - following a relatively short period won't be enough to buy a stale sausage roll, then we'll see panic in the streets. Those who survive wholly or substantially on the government teat will suffer the most.
Re: £10 Christmas benefits bonus paid out since 1972 scrapped by Tories
Quote:
Originally Posted by
Organ Morgan.
Ten quid today is the equivalent of 80p in 1972. Put another way, the pound has lost over 90% of its purchasing power during that 46-year span. Sure, it's been offset to a large degree with increases in pay and welfare payments. But when everything goes tits up, after the first black swan domino topples over all the rest, and hyperinflation causes it to lose 99.9% of its purchasing and people's life savings denominated in pounds - even if it's in the millions - following a relatively short period won't be enough to buy a stale sausage roll, then we'll see panic in the streets. Those who survive wholly or substantially on the government teat will suffer the most.
Your concern for those isn't mirrored by your opinions on Brexit.
Re: £10 Christmas benefits bonus paid out since 1972 scrapped by Tories
The money bubble popping won't be an Anglo-centric event. The debt overhang is global, as touched upon in the $184 trillion thread.
Re: £10 Christmas benefits bonus paid out since 1972 scrapped by Tories
Quote:
Originally Posted by
Organ Morgan.
The money bubble popping won't be an Anglo-centric event. The debt overhang is global, as touched upon in the $184 trillion thread.
Within your research,is there any calculation on how much Brexit will cost the lowly paid and poor in the short term .
Re: £10 Christmas benefits bonus paid out since 1972 scrapped by Tories
Are you really bothered about what might happen to the lowly paid and poor? I ask because you appear not to care a sausage about the people you refer to with regard to the miserly ten quid that's being denied them, and is the topic of this thread.
Re: £10 Christmas benefits bonus paid out since 1972 scrapped by Tories
Quote:
Originally Posted by
Organ Morgan.
Are you really bothered about what might happen to the lowly paid and poor? I ask because you appear not to care a sausage about the people you refer to with regard to the miserly ten quid that's being denied them, and is the topic of this thread.
Ten pounds or its value is nothing compared the long term pain the poor will suffer if we crash out, yes I do care , just pointing out that there is a MUCH bigger impact to the poor looming
