Inflation heading for 13%, interest rates rising steeply, energy prices through the roof and the prospect of a year-long recession. I hope the PM and Chancellor are enjoying their holidays.
It’s a ****ing ****show. Who’d have thought printing loads of dosh and then throwing it willy-nilly at everybody to stay at home to do **** all for 2 years would cause high inflation? Thankfully, Labour fought hard against these idiots throughout. We get the government we deserve.
please log in to view this image James Melville please log in to view this image @JamesMelville For 2 years many of us warned about the collateral damages of lockdowns - including the economy. We were called ‘Covidiots’ and much worse. Now the economic chickens have come home to roost, those who criticised us and screamed for lockdowns are conspicuous by their silence.
What made me laugh in the video was that David Davies said that the problem was that we had a 'Remainers' Brexit'. Wait, what? A Remainers' Brexit would of course have entailed staying in the Single Market, something which would have mitigated most of the problems caused by Brexit and something that even Daniel Hannan now admits we should have done. We have a Brexiteers' Brexit and it's a ****ing ****show.
how many people living on the streets or in cars because they cant get somewhere to live Help house 10,000 Afghan refugees, minister tells councils By Sima Kotecha & Dulcie Lee UK Editor, BBC Newsnight Published 1 day ago Share please log in to view this image IMAGE SOURCE,GETTY IMAGES The refugees minister has appealed to councils to help house 10,500 Afghans currently living in UK hotels at a cost to the taxpayer of £1m a day. Lord Harrington told councils the government had fewer than 100 properties available in June, but expects 500 Afghan arrivals each month. Several Afghans said living in hotels had left them unable to settle. "I know this is costing the British people but for what?" one refugee told BBC Two's Newsnight. Mohammad, who is in his 40s, said: "I want to settle and integrate but how can I when we are living in a hotel for months and months? I can't start my life properly." He worked alongside the British Army in Afghanistan and came to the UK with his wife and two young children after Afghanistan fell to the Taliban in August last year. He says his wife of 20 years is struggling after sharing one hotel room between the four of them since September. "I don't blame her [for struggling] because I know the situation. She is in that room for one year with two kids. These are kids, and she is depressed, so things are not good", he said. Afghan families are being placed in temporary hotels until social housing can be found, according to the Local Government Association. Once housing is found, the government gives the relevant council more than £20,000 per person over three years to help them resettle and integrate in the local community. It is up to councils to find accommodation, but many already face a dwindling housing stock. The Home Office said homes have already been found for more than 7,000 Afghan evacuees. But in his letter, seen by the BBC and dated 27 June, Lord Harrington said they needed another 2,000 properties to house the remaining 10,500 people. A month later the government put the number of Afghans needing accommodation at 9,500. How one Afghan TV presenter became a refugee Refugee help varies 'based on country of origin' 'The UK is my new home, I finally feel safe' Newsnight has been told that the Home Office is negotiating with some local authorities to extend the Afghan hotel scheme into next year, which would mean some residents living there for longer. It is a difficult prospect for Afghans like Munza. She has been in a hotel in the north of England with her parents and younger brother for six months. They are unable to cook in the hotel - and she says they all feel "so down". "Our hotels also are in a very isolated place and far away from the town or any shops with basic necessity items. And with very limited bus services in this area, it makes it even more difficult and frustrating for people based here for now." Lord Harrington wrote that more than 500 four-bedroom houses were needed to accommodate larger families. He said the government was reaching out to landlords, property developers, and the wider private rented sector, including property listing website Rightmove, to encourage further offers of properties. It is also working with education establishments on converting properties to be used as long-term accommodation, he wrote. The Home Office said it faced a "challenge" of insufficient local housing accommodation in the UK - "not just for Afghans and those in need of protection but also British citizens who are also on a waiting list for homes". "While hotels do not provide a long-term solution, they do offer safe, secure and clean accommodation," the Home Office added in its statement.
Bank of England warns the UK will fall into recession this year By Dearbail Jordan & Michael Race Business reporters, BBC News Published 3 hours ago Share Media caption, In a 'blunt message" the Bank of England governor warns interest rates may have to rise even higher The Bank of England has warned the UK will fall into recession as it raised interest rates by the most in 27 years. The economy is forecast to shrink in the last three months of this year and keep shrinking until the end of 2023. Interest rates rose to 1.75% as the Bank battles to stem soaring prices, with inflation now set to hit over 13%. Governor Andrew Bailey said he knew the cost of living squeeze was difficult but if it didn't raise interest rates it would get "even worse". The main reason for high inflation and low growth is soaring energy bills. driven by Russia's invasion of Ukraine. A typical household will be paying almost £300 a month for their energy by October, the Bank warned. The expected recession would be the longest downturn since 2008, when the UK banking system faced collapse, bringing lending to a halt. The slump is not set to be as deep as 14 years ago, but may last just as long. The Bank's governor Andrew Bailey said he had "huge sympathy and huge understanding for those who are struggling most" with the cost of living. "I know that they will feel, 'Well, why have you raised interest rates today, doesn't that make it worse from that perspective in terms of consumption?', I'm afraid my answer to that is, it doesn't because I'm afraid the alternative is even worse in terms of persistent inflation." please log in to view this image Have you experienced recession before? How did your life change? Please email: [email protected]. Please include a contact number if you are willing to speak to a BBC journalist. You can also get in touch via WhatsApp: +44 7756 165803 and Twitter: @BBC_HaveYourSay please log in to view this image Increasing interest rates is one way to try and control inflation as it raises borrowing costs and should encourage people to borrow and spend less. It can also encourage people to save more. However, many households will be squeezed further following the interest rate rise including some mortgage-holders. How does an interest rate rise affect me? 'Rate rise means I owe £250 a month more on loans' Did the Bank of England make the right call? What is a recession and how could it affect me? Now rates have gone up to 1.75%, homeowners on a typical tracker mortgage will have to pay about £52 more a month. Those on standard variable rate mortgages will see a £59 increase. It means tracker mortgage holders could be paying about £167 more a month compared to pre-December 2021, with variable mortgage holders paying up to £132 more. Interest rates have risen six times in row since the end of last year. Higher interest rates also mean higher charges on things like credit cards, bank loans and car loans. Patrick Reid, a business owner in London, owes £25,000 on credit cards and loans and fears an interest rate rise will cost him. please log in to view this image IMAGE SOURCE,PATRICK REID Image caption, Patrick Reid owes £25,000 in loans and credit cards "At present I repay around £1,800 a month but I have worked out that I will conservatively need to pay another £250 a month to keep up with the debts," he said. "I will simply have to tighten my belt and be extra cautious in my spending, which means all of those non-essential items will be cut from my budget." Rebecca McDonald, chief economist at the Joseph Rowntree Foundation, said "staggeringly" high inflation was "going to hit low income families hard". "Many took on credit to pay their bills and are falling behind on their payments. This will be much harder to pay off with higher interest rates putting more families in financial peril." please log in to view this image Chancellor Nadhim Zahawi said he was confident the action the government was taking meant it could overcome the economic challenges. But both Mr Zahawi and Boris Johnson were criticised by Labour for being on holiday when the Bank detailed its gloomy outlook. Shadow treasury minister Abena Oppong-Asare said: "Families and pensioners are worried sick about how they'll pay their bills, but the Prime Minister and Chancellor are missing in action. "The fact they're both on holiday on the day the Bank of England forecasts the longest recession in 30 years speaks volumes about the Tories' warped priorities." Mr Zahawi insisted he was still working and had a call with Governor Andrew Bailey after the interest rate announcement. "For me, like I'm sure lots of others, there is no such thing as a holiday and not working. I never had that in the private sector, not in government," he said. He added: "The privilege and responsibility of public service means that you never get to switch off, that's why I have had calls and briefings every day and continue to do so." please log in to view this image please log in to view this image It is the most piercing of warning sirens set off by the Bank of England. Announcing the largest rate rise in more than a quarter of a century in an attempt to temper even higher peaks in inflation of an incredible 13% is what the Bank of England actually did today. But it is its prediction of a recession as long as the great financial crisis and as deep as that seen in the early 1990s that is the big shock here. This is a proper full fat recession at the same time as the inflation rate is forecast to hit a 42-year high. It is a textbook example of the combination of a stagnating economy and high inflation - stagflation. It obviously will raise questions as to why rates are being hiked into a recession at a time when consumers are already pulling back from spending. The Bank's answer will be that rates are still low by historic standards and they just cannot provide further fuel for these extraordinary but hopefully temporary high inflation rates to last for years. Read more from Faisal here please log in to view this image Energy bills have already risen sharply this year, squeezing household incomes and leading to slower growth for the UK economy. Russia has reduced supplies to Europe as it wages war in Ukraine and fears are growing it may switch off the taps altogether. The potential of gas supply problems has led to the wholesale price soaring, which has led to energy firms passing those costs onto customers - pushing up household energy bills by unprecedented amounts. As well as energy, households have been hit by higher petrol and diesel costs and food prices. The Bank warned UK economic growth was already slowing, adding: "The latest rise in gas prices has led to another significant deterioration in the outlook for the UK and the rest of Europe". The rate of inflation is expected to stay at "very elevated levels" throughout much of next year, the Bank said. It will eventually return to the Bank's 2% target the following year.
Oops..... Rishi Sunak boasted of taking money from “deprived urban areas” to help wealthy towns - New Statesman
Here in the land of Oz, all the bleeding hearts that felt so compelled to vote for a greener change in government are starting to reap what they sow. We have shed loads of coal for creating energy but the greenies and their Labor suckoles have decided we must pay higher energy prices because they choose to stop using dirty coal. So happily, we have had a steep rise in energy bills, which, will continue to rise but that is ok if you vote green, have vast sums of coin and no logic. Our inflation has hit 6.1% and rising. Oh how l yearn for the simpler times of people with job in regional areas and low cost energy bills.
You sure it's not the failure of the EU? Any minute now the EU is going to disintegrate because of all of its failures
Apparently, leaked government papers have revealed that 40% of those illegally crossing the channel are from Albania, a member of NATO and poised to join the EU. There’s not been conflict in that country for 25 years. Fewer than 6% are from Syria. Interesting, if true.
The shark involved in the attack in Cornish waters a few days ago has since been rescued by UK Border Force & is now reported as comfortable in a 4 star Travel Lodge with 4 meals a day, Universal Credit, & a job offer in the Labour Party The swimmer has been charged with assault
He’s just been done for contempt of court, for not showing up. In a case where he’s claiming poverty after he was sued for spreading lies about a young lad He claims he’s skint and pissed and gambled a hundred plus grand that his supporters gave him, his assets have all been transferred to his wife. He’s also been begging his supporters for money for his legal representation… despite it being paid for by legal aid. Number of criminals exposed by Tommeh… yeah it’s still zero, although he himself has an extensive criminal record. He’s definitely the one whose being victimised
Absolutely, but he did nothing to help, he almost caused a mistrial, he was fully aware his actions could have caused a mistrial because he’d been warned about it previously, Robinson’s actions hinder not help.
