Interest rates up 0.25% for the 11th Month in a row

[SLUDGE FACTORY]

Re: Interest rates up 0.25% for the 11th Month in a row

That's good for you, but I just get my bins emptied, ignore house values and add 2p to tax or something.

It's good for you too

It's good for everyone

Local government provides excellent services and administration

It's the privatised energy companies and phones and the rest of them that you want to be pissed off about

[superfeathers]

Re: Interest rates up 0.25% for the 11th Month in a row

Yes, but apart from schools, teachers and youth services, libraries, parks, open spaces and galleries, social care for the elderly, children and other vulnerable members of the community, support for the voluntary sector, planning and building control, street cleaning and other environmental issues, maintenance of roads and bridges, traffic management and road safety, parking services, election, registrars of births, deaths and marriages, cemeteries and mortuary services, consumer protection, economic development and regeneration, community development services, housing provision, strategy, advice and services for the homeless…..what have the council ever done for us?

Leisure centres but I have a feeling it’s a loaded question

[Eric the Half a Bee]

Re: Interest rates up 0.25% for the 11th Month in a row

That's good for you, but I just get my bins emptied, ignore house values and add 2p to tax or something.

Yes, none of the rest matters as you don't need it at this precise moment. What about the rest of the population? Typical short-sighted attitude.

[Eric the Half a Bee]

Re: Interest rates up 0.25% for the 11th Month in a row

It's good for you too

It's good for everyone

Local government provides excellent services and administration

It's the privatised energy companies and phones and the rest of them that you want to be pissed off about

I don't know why I get a bit irritated by cretins on social media who moan about council tax rises of 3% when the cost of living etc has shot up by more than 3 times that. It affects councils as well, who have had funding consistently cut and in some areas, are barely providing much more than what they legally have to.

[SLUDGE FACTORY]

Re: Interest rates up 0.25% for the 11th Month in a row

I don't know why I get a bit irritated by cretins on social media who moan about council tax rises of 3% when the cost of living etc has shot up by more than 3 times that. It affects councils as well, who have had funding consistently cut and in some areas, are barely providing much more than what they legally have to.

On the whole they do a great job

[Doucas]

Re: Interest rates up 0.25% for the 11th Month in a row

The absolute hilarity in tories on here moaning about council tax increases after voting for austerity for the past 13 years.

Government funding to councils has been cut significantly meaning if you want essential services like bins, streetlights or care for the vulnerable there is no option but for council tax to increase.

'The leopards won't eat MY face'

[A Quiet Monkfish]

Re: Interest rates up 0.25% for the 11th Month in a row

On the whole they do a great job

I think 'great' is slightly over-doing it.

[A Quiet Monkfish]

Re: Interest rates up 0.25% for the 11th Month in a row

Might be good if it brings house prices down a bit? Not for me but for young people looking to get out of the now chaotic rental market in Wales

Since 2017 in real terms there are 1.2million fewer properties in the PRS in the UK. It's going to get even worse in Wales as up to a third of PRS properties are take off the market. Rents have gone up by 30% as a consequence and will probably double within 18 months in some places. Private landlords are leaving in droves - it's no longer worth the hassle/grief.

[JamesWales]

Re: Interest rates up 0.25% for the 11th Month in a row

The absolute hilarity in tories on here moaning about council tax increases after voting for austerity for the past 13 years.

Government funding to councils has been cut significantly meaning if you want essential services like bins, streetlights or care for the vulnerable there is no option but for council tax to increase.

'The leopards won't eat MY face'

We haven't had austerity for 13 years. The last few years have seen massive increases in public spending.

[bobh]

Re: Interest rates up 0.25% for the 11th Month in a row

I took on a fixed deal from February. I'm hoping to clear my mortgage when that fixed deal ends in a couple of years.

It has saved me a load already. It's not just mortgages, we all know about energy, food etc but my water bill has increased by 12.8%. I've not had my Council Tax notification yet.

When I moved into my place in 1987 I took out a mortgage at a fixed 10% :yikes:
Lucky for me, but not for others, mortgage rates over the following few years went up to a whopping 16% :yikes:
Of course, house prices and loan amounts were at a reasonable level back then,
I despair for younsters trying to buy a home these days.

[jon1959]

Re: Interest rates up 0.25% for the 11th Month in a row

We haven't had austerity for 13 years. The last few years have seen massive increases in public spending.

It is true that public spending has increased in recent years. Partly Johnson's social liberalism and populism trumping (!) the fiscal conservatism of all Tory Chancellors and breaking with the Cameron/Osbourne/May orthodoxy. Mainly using the government cheque book to cushion the worst effects of Covid. To a lesser extent increasing NHS funding as the government's flagship budget - even if those increases never kept up with rising demand.

But austerity is still alive and kicking (or dead and decaying) across large parts of the public sector where there has been no reversal of the Cameron/Osbourne cuts from 2010 onwards. For most public services there have been 13 uninterrupted years of cuts, more cuts, complete removal of services, privatisation, and widespread introduction of new charges for things that were previously publicly funded. Cuts to the bone; into the bone; and then amputation!

[TWGL1]

Re: Interest rates up 0.25% for the 11th Month in a row

American mortgage terms are usually 30 years , which cuts down on people moving and keeps house prices realistic , this is perhaps the way forward here in the UK.

Google :- The 30-year fixed rate mortgage owes its existence to government actions to remedy dislocations in the mortgage market. The process started during the Great Depression, when the federal government created the Home Owner's Loan Corporation (HOLC) to buy defaulted mortgages and reinstate them

[SLUDGE FACTORY]

Re: Interest rates up 0.25% for the 11th Month in a row

It is true that public spending has increased in recent years. Partly Johnson's social liberalism and populism trumping (!) the fiscal conservatism of all Tory Chancellors and breaking with the Cameron/Osbourne/May orthodoxy. Mainly using the government cheque book to cushion the worst effects of Covid. To a lesser extent increasing NHS funding as the government's flagship budget - even if those increases never kept up with rising demand.

But austerity is still alive and kicking (or dead and decaying) across large parts of the public sector where there has been no reversal of the Cameron/Osbourne cuts from 2010 onwards. For most public services there have been 13 uninterrupted years of cuts, more cuts, complete removal of services, privatisation, and widespread introduction of new charges for things that were previously publicly funded. Cuts to the bone; into the bone; and then amputation!

Them Tories didn't spend money on the economy and the people because they were being nice

There would have been revolution if they hadn't

[life on mars]

Re: Interest rates up 0.25% for the 11th Month in a row

And still the pubs are full , two cars in the drive , subscription paid , all gladly spent before the taxes that keep the country going as that is what happens ..

In my humble view the BoE have let us all down since the recession , through Brexit and Pandemic ,their predictions are so way off , they panic the markets , they kept the interest way too low for too long after the recession , and quantitative easing , printing money you've not got is not a great solution .

I agree with some that the B of E are too powerful and make mistakes but don't get the same criticism that politicians get , its the same question being asked of banks in the USA /Europe , they have got stuff in the challenging times wrong , but hey they survive , no cull for them , they should be subject to voting ,more scrutiny, less independence , public should have a say in who runs the most important job in the land , we do cull PM's and MP's and rightly so .

[goats]

Re: Interest rates up 0.25% for the 11th Month in a row

Since 2017 in real terms there are 1.2million fewer properties in the PRS in the UK. It's going to get even worse in Wales as up to a third of PRS properties are take off the market. Rents have gone up by 30% as a consequence and will probably double within 18 months in some places. Private landlords are leaving in droves - it's no longer worth the hassle/grief.

I know, I’m one of them. Loads of oldies who have had rentals for 30/40 years have had enough, rent smart wales and the new tenancy agreements being the final nail. Then there’s the EPC issue which is by far the biggest load of government guff to date, attempting to get Victorian housing stock to a C in 2 years isn’t feasible. At least a million rentals don’t yet comply so be interesting to see how it unfold further. In a house I rent out in Treforest nr the Uni, rents have gone from £300 to £350 a month since September…..a room in a house in heath came available last sept and I had 60 people apply in one day. Nice work Drakeford :thumbup: