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UK inflation up to 9 per cent from 7 per cent.
https://www.bbc.co.uk/news/business-61483175
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The Sky News story linked below had me pondering what I could reduce or forego completely should inflation necessitate some serious belt-tightening. Socialising would be atop the list, followed by scoffing less.
One in four people skipping meals over rising cost of living worries, poll for Sky News suggests https://news.sky.com/story/more-than...gests-12614622
UK inflation up to 9 per cent from 7 per cent.
https://www.bbc.co.uk/news/business-61483175
CPI at 9%, RPI, a truer measure and what MPs ensure they bag each year so as not to become poorer in real terms, is at 11%.
It won't take many more month's like April's jump for it to reach 20%. The poorest will suffer most of course, especially those on a fixed income, and vast numbers of those are State Pension recipients. The Tories broke their 2019 triple lock manifesto commitment for that payment and compounded it by diddling them out of an 8% increase this year. Instead they had 2.5%.
It says it's only a temporary triple lock suspension. Few would believe them.
Interesting read :
https://ifs.org.uk/publications/1605...217d0d0660706e
This morning the ONS announced that CPI inflation rose to 9% in the year to April, a level not seen since 1982, and significantly higher than the 7% rate in March. A key driver of inflation is the increased cost of energy; Ofgem’s updated energy tariff cap came into effect in April, raising the cap on average household bills on gas and electricity by 54% from the previous month, meaning a 70% year-on-year increase. In addition to the dramatic rise in the cost of gas and electricity, other factors such as the continuation of the war in Ukraine further increased prices of items such as petrol and food as well. The expiration of the temporary VAT cut for the hospitality industry also meant the tax on meals out and hotel stays increased from a rate of 12.5% back to 20% this month, while it was just 5% in April of last year.
Until this point, IFS work has shown that households across all income groups have faced similar rates of inflation. However, as poorest households spend more of their total budget on gas and electricity, we now see inflation hitting the poorest households harder. In April, the bottom 10% of the population in terms of income faced a rate of inflation rate of 10.9%, which was 3 percentage points higher than the inflation rate of the richest 10%. Most of this difference comes from the fact that the poorest households spend 11% of their total household budget on gas and electricity, compared to 4% for the richest households.
"Inflation hit 9% in April. Because so much of the increase was driven by the increase in the gas and electricity tariff cap, poorer households who spend more of their budgets on gas and electricity, faced an even higher rate of inflation. We estimate that the poorest 10% of households faced an inflation rate of 10.9%. State benefits only increased by 3.1% in April. This means big real terms cuts to the living standards of many of the poorest households.
"Continuing pressures, such as the war in Ukraine, are likely to push Ofgem’s October tariff cap, as well as other prices including food prices, even higher later this year. We are likely to be in a prolonged period during which poorer households are facing rates of inflation even higher than the headline figures would suggest."
It's almost as though they knew what was coming.Originally Posted by Organ Morgan.
whether or not the OP referenced it, JamesWales makes a valid point about taking on more work and the reduction in benefits and is a point that is oft overlooked in these discussions.
Inflation at 9%, and it may rise further, although the indication from the IFS and ONS is that the key drivers for the rise are now behind us. However, whilst private sector workers pay has risen by 5, 6, 7%, public sector workers have seen pay rise by 1%. What can this government do...well they could do more:
zero rate VAT on energy
abolish the green levy and fund it from general taxation
have a temporary benefits freeze, insomuch that your benefits can go up but not down, so if you take on more work, you get to keep the same benefits
increase the top rate of tax to 50%
The 9% is a big leap and the removal of the 12.5% hospitality cap, the removal of the fuel cap has been the main factor along with the Fuel crisis , pandemic and Ukraine and of course Brexit .
Yes to zero rating to energy .
Cant abolish / suspend green levy sadly as the opposition and metropolitan elite who can afford it will leap all over that one , but it woudl help the poor .
Align benefits to inflation ( but i guess if they go down , we will get the oh no you cruel people moment )
Reintroduce the triple lock for pensioners which the Tory / Liberal government introduced .
Give government workers 5% but look at lessening the tax burdening those pension deliver when comparing public with private work benefits .
Lets not forget a lot of private sector workers were furloughed on 80% pay ,government workers enjoyed full pay and mostly form home not incurring travelling / office working costs .
Id insulate homes before benefits rises as you cannot roll them back out whcih we saw in the pandemic .
Id give everyone a one off energy type heating voucher not cash for this winter.
Do worry about the easy answer of a windfall and its adverse effects a lot of pensions scheme if we move to the world of windfall as they are in the trillions ??
So our country is now debating whether the police should use discretion on shop lifters. Im sure all those running shops struggling with the cost of living themselves will be delighted with this.
What a state our country is in.
They just following the script.
The police are order followers, as are all employees. For as long as they keep doing as they are told, wages for doing so appear in their bank account. If you ever hear one claim the primary objective of what they do is to safeguard the public, or similar, then they're lying. It's the wonga they receive which motivates them.
They have have been using their discretion with beggars, who mostly purport to be homeless, for so long it has become an industry and a plague. Begging and vagrancy has been illegal in England and Wales since 1824.
Coppers are paid to uphold all laws, not just the ones they can be bothered to apply. But I have little doubt they are told to look the other way whenever possible, which they do for the reasons outlined. If they are told to use kid gloves with shoplifters, that's what they will do.
Yes I'm sure Tescos, Asda, Waitrose, Morrisons and Sainsburies are really struggling.
Your take from this is that there isn't massive systematic issues meaning basically people may have to steal food to survive?
Where the hell did you get that from? Nothing in his posts suggests anything of the sort.
He said "shops" not supermarkets. Shoplifting also isn't limited to stealing food either.
How did you earn the money that appeared in your bank account in your working life, Morg?
Morrissey was ahead of his time ..
never thought i would hear a smiths tune on a politics forum . as the Mozfather turns 63 today reminds of this day back in 2004 not 2005 as the edits claim when legions of us turned up the MEN arena in Manchester to celebrate his birthday back then . Can see myself within the Mozpit too !
https://www.youtube.com/watch?v=4ytrv2c32kM
oh the memories .................happy birthday Morrissey
Who ever says 'I'm going out to the supermarket'.
Nobody.
You don't see anything wrong with what you posted originally because nobody says "I'm going out to the supermarket"?
Perhaps read Hilts' post again, then your reply and then consider whether you may have overreacted and misunderstood what he was saying.
I have no idea why you interpreted his post the way you did as it's in plain English what he's saying.
You're becoming the life on mars of the left on here.
Going down the City
Going down the supermarket
Going down the Gôl
That's what we say
For the first three years I was a money mercenary for hire, then became a hirer.
Alright Mr Enlightened Centrist.
It isn't clear as day though is it? I see shops and I think of Tesco's etc I'm not justifying stealing from small shops but my heart doesn't exactly bleed in a country where poverty is rife if people steal food.
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