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Do you want to discuss boring politics? (15 Viewers)

  • Thread starter mrtrench
  • Start date Jun 14, 2020
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David O'Day

Well-Known Member
  • May 12, 2023
  • #28,946
skybluetony176 said:
Click to expand...
it's like people are more likely to vote lib dem or greens at local elections
 
C

CCFCSteve

Well-Known Member
  • May 12, 2023
  • #28,947
fernandopartridge said:
The BoE hiking interest rates having no effect on inflation, so let's try some more. Honestly, this country.
Click to expand...

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
  • May 12, 2023
  • #28,948
CCFCSteve said:
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
Click to expand...

With that being so then why keep raising them every few weeks?
 
Reactions: stupot07 and Sky Blue Pete
C

CCFCSteve

Well-Known Member
  • May 12, 2023
  • #28,949
fernandopartridge said:
With that being so then why keep raising them every few weeks?
Click to expand...

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
  • May 12, 2023
  • #28,950
CCFCSteve said:
We’re also fortunate that more people are on fixed mortgages these days.
Click to expand...
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.
 
Reactions: stupot07, Sky Blue Pete and shmmeee

shmmeee

Well-Known Member
  • May 12, 2023
  • #28,951
dutchman said:
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.
Click to expand...

Me. Monthly payments literally just went up almost 50%.
 
Reactions: Sky Blue Pete

fernandopartridge

Well-Known Member
  • May 12, 2023
  • #28,952
shmmeee said:
Me. Monthly payments literally just went up almost 50%.
Click to expand...

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.
 
Reactions: stupot07 and shmmeee

shmmeee

Well-Known Member
  • May 12, 2023
  • #28,953
fernandopartridge said:
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.
Click to expand...

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.
 
Reactions: duffer and fernandopartridge

duffer

Well-Known Member
  • May 12, 2023
  • #28,954
David O'Day said:

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 leaseholds
www.theguardian.com
Click to expand...

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.
 
Reactions: oakey and fernandopartridge
C

CCFCSteve

Well-Known Member
  • May 13, 2023
  • #28,955
dutchman said:
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.
Click to expand...

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 !
 
Last edited: May 13, 2023

shmmeee

Well-Known Member
  • May 13, 2023
  • #28,956
Got to be honest. I don’t get when mortgage rates are variable in the first place. I borrowed the money years ago, why does todays rate matter?
 
Reactions: oakey, stupot07, chiefdave and 2 others

Sky Blue Pete

Well-Known Member
  • May 13, 2023
  • #28,957
shmmeee said:
Me. Monthly payments literally just went up almost 50%.
Click to expand...
Same that’s rough mate
 

shmmeee

Well-Known Member
  • May 13, 2023
  • #28,958
Sky Blue Pete said:
Same that’s rough mate
Click to expand...

Im in a very fortunate position that I can absorb this stuff. I really fear for the people I know who can’t.
 
B

Brighton Sky Blue

Well-Known Member
  • May 13, 2023
  • #28,959
shmmeee said:
Me. Monthly payments literally just went up almost 50%.
Click to expand...

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
 
Reactions: clint van damme and shmmeee

Sky Blue Pete

Well-Known Member
  • May 13, 2023
  • #28,960
shmmeee said:
Im in a very fortunate position that I can absorb this stuff. I really fear for the people I know who can’t.
Click to expand...
Same
 

shmmeee

Well-Known Member
  • May 13, 2023
  • #28,961
Brighton Sky Blue said:
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
Click to expand...

Yeah energy is killing me too and I barely use anything.
 

fernandopartridge

Well-Known Member
  • May 13, 2023
  • #28,962
shmmeee said:
Got to be honest. I don’t get when mortgage rates are variable in the first place. I borrowed the money years ago, why does todays rate matter?
Click to expand...
Agreed, why should I be responsible for paying for the lender's subsequent actions
 
Reactions: oakey, stupot07, TomRad85 and 1 other person
B

Brighton Sky Blue

Well-Known Member
  • May 13, 2023
  • #28,963
shmmeee said:
Yeah energy is killing me too and I barely use anything.
Click to expand...

They just seem to pluck a number out of thin air. Make billions in profits anyway and still increase the prices-thieves
 
Reactions: Sky Blue Pete and shmmeee

David O'Day

Well-Known Member
  • May 13, 2023
  • #28,964
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
  • May 13, 2023
  • #28,965
CCFCSteve said:
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 !
Click to expand...
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.
 

chiefdave

Well-Known Member
  • May 13, 2023
  • #28,966
Sunak's got the midas touch. Turns up at Southampton and they get relegated
 
Reactions: duffer, skybluetony176, Paul Anthony and 2 others

clint van damme

Well-Known Member
  • May 13, 2023
  • #28,967
chiefdave said:
Sunak's got the midas touch. Turns up at Southampton and they get relegated
Click to expand...

Matt Le Tissier will be turning in his grave
 

fernandopartridge

Well-Known Member
  • May 13, 2023
  • #28,968
clint van damme said:
Matt Le Tissier will be turning in his grave
Click to expand...
Isn't it funny how all the Southampton players had the jab and now they've been relegated, makes yer think dunnit
 
Reactions: bezzer, Sick Boy, stupot07 and 6 others

fernandopartridge

Well-Known Member
  • May 15, 2023
  • #28,969
What an utterly disingenuous person he is.

 
Reactions: Sick Boy and Ian1779

shmmeee

Well-Known Member
  • May 15, 2023
  • #28,970
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…
labourlist.org

BSB/Ian look away now, the education bit is hardly inspiring. Some nice stuff especially on energy and industrial strategy though.
 
Reactions: Sky Blue Pete
B

Brighton Sky Blue

Well-Known Member
  • May 15, 2023
  • #28,971
shmmeee said:
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…
labourlist.org

BSB/Ian look away now, the education bit is hardly inspiring. Some nice stuff especially on energy and industrial strategy though.
Click to expand...

I’m quitting education in a few months anyway. Would be nice if they invest in science in about 4 years’ time though
 
Reactions: Sky Blue Pete

fatso

Well-Known Member
  • May 15, 2023
  • #28,972
shmmeee said:
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…
labourlist.org

BSB/Ian look away now, the education bit is hardly inspiring. Some nice stuff especially on energy and industrial strategy though.
Click to expand...
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.

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
  • May 15, 2023
  • #28,973
shmmeee said:
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…
labourlist.org

BSB/Ian look away now, the education bit is hardly inspiring. Some nice stuff especially on energy and industrial strategy though.
Click to expand...
You’re right - that education bit is rubbish. Written by consultants, for consultants.
 

Ian1779

Well-Known Member
  • May 15, 2023
  • #28,974
fatso said:
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.

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.
Click to expand...
Not sure you can legitimately argue that stopping tax evasion (which in essence is what they are) is bad for the country?
 
Reactions: Sky_Blue_Dreamer

shmmeee

Well-Known Member
  • May 15, 2023
  • #28,975
fatso said:
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.

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.
Click to expand...

If you seriously think Labour crashed the economy there’s no helping you TBH.
 
Reactions: Deleted member 9744, Sick Boy, oakey and 4 others
B

Brighton Sky Blue

Well-Known Member
  • May 15, 2023
  • #28,976
shmmeee said:
If you seriously think Labour crashed the economy there’s no helping you TBH.
Click to expand...

George Osborne’s greatest piece of work that
 
Reactions: Deleted member 9744 and oakey

skybluetony176

Well-Known Member
  • May 15, 2023
  • #28,977
fatso said:
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.

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.
Click to expand...
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?
 
Reactions: Jamskidavaoccfc, Sky_Blue_Dreamer, Deleted member 5849 and 1 other person

fernandopartridge

Well-Known Member
  • May 15, 2023
  • #28,978
Brighton Sky Blue said:
George Osborne’s greatest piece of work that
Click to expand...
Labour are going along with the idea behind it with this "cast iron fiscal rules" nonsense
 
B

Brighton Sky Blue

Well-Known Member
  • May 15, 2023
  • #28,979
fernandopartridge said:
Labour are going along with the idea behind it with this "cast iron fiscal rules" nonsense
Click to expand...

The public misconception on it is so strongly held I don’t see how you shake it.
 

dutchman

Well-Known Member
  • May 15, 2023
  • #28,980
skybluetony176 said:
Non dom status is an exodus of wealth. They want all the benefits for zero contribution to the very society they benefit from.
Click to expand...
Just to be clear non-doms DO pay tax on any money earned in this country, they are only exempt from money earned abroad.
 
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