Pound through the floor fuelling inflation will push rates higher. Thats why tc is all in favour. Those with mortgages and debt ( the huge majority) will be paying the bill.
Bloody good news too. Good time to be retired with guaranteed inflation proof income and savings and investments earning a fortune. Good old Brexit
Not sure why i voted against it.... Perhaps cos i arnt a selfish cnut. No idea why anyone with a mortgage or that needs a job would want to leave, and keep coming back to stupidity.
Don't worry about it you will be long gone,next couple of years,the Islands around Tenerife will fall to the African califate only 20 miles away.When I see you get your head chopped off on you tube,will take that as time to go back home to NZ.And 20/20 will be living under sharia law down south.
Just such a shame two (yes Glory included) top, generous, nice guys need to argue on here. The good thing is, we'll all be bombed soon and it won't matter.
I think the younger people don't realise just how bad interest rates can get, and the impact it can have on you. When I bought my first house in 1982, I luckily avoided paying 19% for my mortgage. A mate came though for me, so it was only 17%. This was because tory barsteward Chancellor Lawson decided the best way to run the economy was to control it with interest rates. This happened for well over a decade, with similar rates. As an illustration, if you have a £100k mortgage, your interest payments will be: At 1.5%, £1500pa, or £125pm (£402pm inc. capital) At 17%, £17000, or £1416pm. (£1445pm inc. capital) The worrying thing is that this could happen again. Anytime. Wonder how many of us has a spare £1k a month for every £100k of mortgage they've got? Only the tories have inflicted his on us. Give them enough power and you never know.
Actually the highest ever interest rates were down to the Labour government under Harold Wilson and James Callaghan - they borrowed too much money and made us insolvent. We ended up borrowing $3.9 billion from the IMF. http://news.bbc.co.uk/1/hi/uk_politics/4553464.stm The worrying thing is that is exactly what Corbyn wants to do - wake up and smell the coffee Free university for EVERYONE Labour’s plans for a national investment bank, which would cost £10billion A publicly owned Royal Mail at £860million
What interest rates are you talking about? If it's base rates, then you're wrong. Maggie set a 17% base rate in 1979. Callaghan 'only' managed a 15% base rate in 1976. Base rates were only 12% when she came into power 6 months earlier.
Nevertheless TC is right (F me did I really type that?) that high interest rates and inflation will be the result of the Labour manifesto spending commitments. Seen it all before and it could do easily come back. (Though I agree they seemed to use only interest rates as the tool ). I have no wish to defend the Tories but they were trying to sort out a couple of decades of financial mismanagement when Thatcher came to power. Mismanagement by both Labour and previous Tory governments ( for example that twat Anthony Barber had his 'dash for growth' in about 1973 which was a total screw up when he was chancellor). I'd go for some increase in spending (NHS, schools) but most of their programme is typical hard left profligacy
I wasn't replying to his speculation, but his inaccurate representation of historical fact i.e. Maggie set the highest ever base rate.
