|
Post by oggyoggy on May 18, 2022 17:36:08 GMT
Tories vote down windfall tax that could save you £600 linkOh dear Labour at it again only the gullible fall for this, hi essex Doesn’t it depend on the percentage of taxation, and the amount of profits the oil and gas producers make. They will make more come Autumn when prices rise again, so the tax would raise more then. What is important is the concept. Should we tax the richest and those who can afford to pay more in order to help the poorest. My view is yes. Labour say yes. Tories say no, but not because it won’t raise £600 per household, because they fear it will stifle investment. The oil and gas producers have said an extra tax on them will not stifle investment and they will invest just as much regardless, leaving the tories with no reason to oppose it.
|
|
|
Post by wannabee on May 18, 2022 18:23:53 GMT
Oh dear Labour at it again only the gullible fall for this, hi essex Doesn’t it depend on the percentage of taxation, and the amount of profits the oil and gas producers make. They will make more come Autumn when prices rise again, so the tax would raise more then. What is important is the concept. Should we tax the richest and those who can afford to pay more in order to help the poorest. My view is yes. Labour say yes. Tories say no, but not because it won’t raise £600 per household, because they fear it will stifle investment. The oil and gas producers have said an extra tax on them will not stifle investment and they will invest just as much regardless, leaving the tories with no reason to oppose it. It also depends on how the "Windfall" is distributed If it is targeted at those on lowest incomes then of course the support could easily be up to £600 for those most needy but with less support for those who can easier bear the pain As is now most likely Government will introduce a Windfall Tax but they will make a naked calculation of how best to distribute it for the best return on votes. Its a sad fact that the most disadvantaged proportionally are less likely to vote. A cut to taxation maybe more advantageous to the Tories Vote wise but will spread the available windfall so widely it will be of negligible difference if any to those more in need.
|
|
|
Post by essexstokey on May 18, 2022 19:49:04 GMT
Don't think you are Edit the anonymity in rape cases was repealed in 1988 so yes different rules being applied Actually no. You are not up to speed with current case law. The Supreme Court made a decision earlier this year that defendants have a right to anonymity up to the point they are charged. This Guardian article provides more detail: Bloomberg loses landmark UK supreme court case on privacy. So, different rules are not being applied to this minister. Yes they are as hes been charged and released on bail and to my knowledge don't think hes a minister just your usual Tory two faced scum
|
|
|
Post by partickpotter on May 18, 2022 20:10:09 GMT
Actually no. You are not up to speed with current case law. The Supreme Court made a decision earlier this year that defendants have a right to anonymity up to the point they are charged. This Guardian article provides more detail: Bloomberg loses landmark UK supreme court case on privacy. So, different rules are not being applied to this minister. Yes they are as hes been charged and released on bail and to my knowledge don't think hes a minister just your usual Tory two faced scum Ok. We know, thanks to your explanation, that you have some problems that means you can’t spell or use grammar conventionally. But what is your explanation for you being so stupid? Have you had a lobotomy? This from the Guardian, Why is Tory MP arrested on suspicion of rape not being named?…
|
|
|
Post by Huddysleftfoot on May 18, 2022 21:41:51 GMT
|
|
|
Post by essexstokey on May 19, 2022 2:32:24 GMT
Yes they are as hes been charged and released on bail and to my knowledge don't think hes a minister just your usual Tory two faced scum Ok. We know, thanks to your explanation, that you have some problems that means you can’t spell or use grammar conventionally. But what is your explanation for you being so stupid? Have you had a lobotomy? This from the Guardian, Why is Tory MP arrested on suspicion of rape not being named?… Insults insults insults is that all you've got 🤣🤣🤣🤣🤣🤣🤣
|
|
|
Post by partickpotter on May 19, 2022 3:27:03 GMT
Insults insults insults is that all you've got 🤣🤣🤣🤣🤣🤣🤣 Not an insult. Just making an observation based on the evidence and asking a question.
|
|
|
Post by elystokie on May 19, 2022 5:39:37 GMT
Insults insults insults is that all you've got 🤣🤣🤣🤣🤣🤣🤣 Not an insult Just making an observation based on the evidence and asking a question. Wow Well, that surely goes at least part way to explaining the high A+E figures in your neck of the woods
|
|
|
Post by Rednwhitenblue on May 19, 2022 5:57:16 GMT
I'm more interested to know why Essex and Pratick are chatting at 4am!
|
|
|
Post by Huddysleftfoot on May 19, 2022 8:57:18 GMT
Oops...
|
|
|
Post by prestwichpotter on May 19, 2022 9:05:20 GMT
|
|
|
Post by partickpotter on May 19, 2022 9:44:40 GMT
It’s an interesting article. It raises a very good (and substantial) question of the lack of resilience in the UK economy. I completely agree with that as an issue and generally agree with much of what is said. Imo, the root cause of this goes back decades and the problems we have had as a manufacturing nation which leaves us with largely a service economy a consequence of which is a lack of resilience.
|
|
|
Post by Rednwhitenblue on May 19, 2022 9:55:53 GMT
It’s an interesting article. It raises a very good (and substantial) question of the lack of resilience in the UK economy. I completely agree with that as an issue and generally agree with much of what is said. Imo, the root cause of this goes back decades and the problems we have had as a manufacturing nation which leaves us with largely a service economy a consequence of which is a lack of resilience. "In the past few weeks the UK has imported so much liquefied natural gas (LNG) that it has more than it can use. The UK’s gas price is now a third lower than continental Europe’s. Were Rough still open [shut 2017], the energy shock would be less severe. The crisis is partially self-inflicted".
"A similar story can be told about the tight labor market. Michael Saunders, a member of the Bank of England’s rate-setting Monetary Policy Committee, on May 9 said it was “possible that Brexit has steepened the wage and price curves” by reducing labor supply and curtailing some imports".
"The labor market is now so tight that, for the first time ever, there are more job vacancies than there are unemployed. Since the start of the pandemic, the workforce has shrunk by 440,000. Almost half the decline can be accounted for by a drop in EU workers. Former Monetary Policy Committee member Adam Posen told members of Parliament on May 11, “A substantial majority of the inflation differential for the UK over the euro area is due to Brexit.” Leaving the European Union, Britain exposed its over-reliance on cheap migrant labor".
"The Covid recession in 2020 also showed the danger of short-sightedness. The government’s lockdown policy was meant to prevent the National Health Service from being overwhelmed. Years of underspending, relative to gross domestic product per capita, had stretched the NHS to its limits. With little give in the system, lockdowns had to be extended to prevent even more deaths."
"The government set the tone in the 1980s when it sold off the family silver to pay its bills. Companies were privatized and social housing sold sometimes “below their retention value,” Richard Hughes, now chairman of the government’s fiscal watchdog, the Office for Budget Responsibility, wrote in 2019.
Such short-termism has left public-sector net worth, a measure of long-term fiscal sustainability, deeply negative. The value of the UK’s liabilities is about £2.2 trillion greater than the value of its assets. With the exception of Italy, no other G-7 government owes that much more than it owns".With the possible exception of the final point about the 1980s sell off, none of the rest is about decades old root causes, they're recent decisions taken by this government or its predecessor.
|
|
|
Post by prestwichpotter on May 19, 2022 9:57:40 GMT
It’s an interesting article. It raises a very good (and substantial) question of the lack of resilience in the UK economy. I completely agree with that as an issue and generally agree with much of what is said. Imo, the root cause of this goes back decades and the problems we have had as a manufacturing nation which leaves us with largely a service economy a consequence of which is a lack of resilience. Absolutely. Plus if London sneezes the whole of Britain catches a cold, the weight of the economy needs a total reset. Not in a patronising "levelling up" way but by using practical methods such as moving departments across the country to areas in need of development, proper affordable rail links from city to city, high end broadband etc etc.
|
|
|
Post by Huddysleftfoot on May 19, 2022 11:46:20 GMT
|
|
|
Post by mrcoke on May 19, 2022 11:57:58 GMT
Why is inflation higher here than the rest of the G7? This excellent article says why: www.theguardian.com/business/2022/may/18/why-uk-highest-inflation-g7-ukraine-covid-brexitFirstly, our government isn’t doing much to combat it. Whereas France have a 4% cap on energy prices Italy has a windfall tax on oil and gas providers Spain and Portugal are capping gas prices Germany have reduced fuel duty by 30 cents compared with our 5p Spain and Begium have cut VAT on energy bills, something Johnson told us couldn’t happen in the EU (he lied) We have increased tax on workers. Secondly, brexit accounts for a 6% increase to food prices, as we import so much of it. The slumping pound doesn’t help as that increases food imports prices. Thirdly, brexit has led to staff shortages, which means higher competition and wages, and so companies must charge more for goods and services which increases inflation. Pay growth at 4.2% is good news, but not if inflation is at 9%! Fourthly, covid and the Ukraine war. But that isn’t unique to us and impacts everyone. The take home: brexit is costing us a lot, as is the fact our government are unwilling to introduce measures that other governments are doing to protect against high inflation. I agree with most of that and agree that Brexit has caused wages to increase fueling inflation. The low paid have benefitted from Brexit and the basic minimum wage in April rose by much more than 4.2%. The vast majority of the inflation is due to energy prices rising since last summer. The raising of the cap on domestic energy costs in October and April has led to a huge increase in domestic energy costs, despite the fact that wholesale gas price has declined recently. The main reason other countries inflation is lower is because of their governments greater action, but in most cases their inflation is only just less than the UK in April and was higher in previous months until the UK's 2% increase in April when the UK leap flogged countries like Germany. The Netherlands inflation is falling but still higher than the UK and they haven't left the EU! The £ has not slumped. The dollar has increased massively against 6 main currencies including the Euro, so yes food purchased in dollars is more expensive, but how much food is that. The Euro has gone down against the dollar. The dollar has risen because there is a war which always happens, dealers go to the safest currency. Most food price increase is energy costs for farmers, transport of food from the EU, and little to do with Brexit, we haven't introduced controls yet (apart from NI) as anti Brexiteers keep reminding us. In conclusion inflation is due largely to energy costs for industry for nearly a year, oil prices for nearly a year since the world started recovering from the pandemic, energy prices for domestic users since October, with another big hike in April, the rise in the $ due to the war, wage increases particularly for the low paid such a HGV drivers, for which you can blame Brexit. Only France in Europe has had significantly lower inflation than the UK and much of Europe, which is primarily due the Macron capping energy costs last year particularly for industry - I could be cynical and say there was an election to be won! - but France is far better placed to weather the energy storm with 70% of power generated by nuclear power by the largely government owned power industry. Brexit has cost most people very little unless they live in NI , or are selling cheese or shellfish to the EU. I believe the government is letting prices rip now knowing next year it will make inflation look much lower when the price rises in the last 12 months drop out of the calculation and we are a year closer to the next election. But that's me being cynical again.
|
|
|
Post by Rednwhitenblue on May 19, 2022 12:09:01 GMT
2:45 to 3:30, nails it. But, I think those people just don't care.
|
|
|
Post by oggyoggy on May 19, 2022 12:31:12 GMT
Why is inflation higher here than the rest of the G7? This excellent article says why: www.theguardian.com/business/2022/may/18/why-uk-highest-inflation-g7-ukraine-covid-brexitFirstly, our government isn’t doing much to combat it. Whereas France have a 4% cap on energy prices Italy has a windfall tax on oil and gas providers Spain and Portugal are capping gas prices Germany have reduced fuel duty by 30 cents compared with our 5p Spain and Begium have cut VAT on energy bills, something Johnson told us couldn’t happen in the EU (he lied) We have increased tax on workers. Secondly, brexit accounts for a 6% increase to food prices, as we import so much of it. The slumping pound doesn’t help as that increases food imports prices. Thirdly, brexit has led to staff shortages, which means higher competition and wages, and so companies must charge more for goods and services which increases inflation. Pay growth at 4.2% is good news, but not if inflation is at 9%! Fourthly, covid and the Ukraine war. But that isn’t unique to us and impacts everyone. The take home: brexit is costing us a lot, as is the fact our government are unwilling to introduce measures that other governments are doing to protect against high inflation. I agree with most of that and agree that Brexit has caused wages to increase fueling inflation. The low paid have benefitted from Brexit and the basic minimum wage in April rose by much more than 4.2%. The vast majority of the inflation is due to energy prices rising since last summer. The raising of the cap on domestic energy costs in October and April has led to a huge increase in domestic energy costs, despite the fact that wholesale gas price has declined recently. The main reason other countries inflation is lower is because of their governments greater action, but in most cases their inflation is only just less than the UK in April and was higher in previous months until the UK's 2% increase in April when the UK leap flogged countries like Germany. The Netherlands inflation is falling but still higher than the UK and they haven't left the EU! The £ has not slumped. The dollar has increased massively against 6 main currencies including the Euro, so yes food purchased in dollars is more expensive, but how much food is that. The Euro has gone down against the dollar. The dollar has risen because there is a war which always happens, dealers go to the safest currency. Most food price increase is energy costs for farmers, transport of food from the EU, and little to do with Brexit, we haven't introduced controls yet (apart from NI) as anti Brexiteers keep reminding us. In conclusion inflation is due largely to energy costs for industry for nearly a year, oil prices for nearly a year since the world started recovering from the pandemic, energy prices for domestic users since October, with another big hike in April, the rise in the $ due to the war, wage increases particularly for the low paid such a HGV drivers, for which you can blame Brexit. Only France in Europe has had significantly lower inflation than the UK and much of Europe, which is primarily due the Macron capping energy costs last year particularly for industry - I could be cynical and say there was an election to be won! - but France is far better placed to weather the energy storm with 70% of power generated by nuclear power by the largely government owned power industry. Brexit has cost most people very little unless they live in NI , or are selling cheese or shellfish to the EU. I believe the government is letting prices rip now knowing next year it will make inflation look much lower when the price rises in the last 12 months drop out of the calculation and we are a year closer to the next election. But that's me being cynical again. Brexit has caused a 6% increase in food prices
|
|
|
Post by partickpotter on May 19, 2022 12:56:19 GMT
I agree with most of that and agree that Brexit has caused wages to increase fueling inflation. The low paid have benefitted from Brexit and the basic minimum wage in April rose by much more than 4.2%. The vast majority of the inflation is due to energy prices rising since last summer. The raising of the cap on domestic energy costs in October and April has led to a huge increase in domestic energy costs, despite the fact that wholesale gas price has declined recently. The main reason other countries inflation is lower is because of their governments greater action, but in most cases their inflation is only just less than the UK in April and was higher in previous months until the UK's 2% increase in April when the UK leap flogged countries like Germany. The Netherlands inflation is falling but still higher than the UK and they haven't left the EU! Brexit is not to blame for the surge in inflation and soaring food pricesThe £ has not slumped. The dollar has increased massively against 6 main currencies including the Euro, so yes food purchased in dollars is more expensive, but how much food is that. The Euro has gone down against the dollar. The dollar has risen because there is a war which always happens, dealers go to the safest currency. Most food price increase is energy costs for farmers, transport of food from the EU, and little to do with Brexit, we haven't introduced controls yet (apart from NI) as anti Brexiteers keep reminding us. In conclusion inflation is due largely to energy costs for industry for nearly a year, oil prices for nearly a year since the world started recovering from the pandemic, energy prices for domestic users since October, with another big hike in April, the rise in the $ due to the war, wage increases particularly for the low paid such a HGV drivers, for which you can blame Brexit. Only France in Europe has had significantly lower inflation than the UK and much of Europe, which is primarily due the Macron capping energy costs last year particularly for industry - I could be cynical and say there was an election to be won! - but France is far better placed to weather the energy storm with 70% of power generated by nuclear power by the largely government owned power industry. Brexit has cost most people very little unless they live in NI , or are selling cheese or shellfish to the EU. I believe the government is letting prices rip now knowing next year it will make inflation look much lower when the price rises in the last 12 months drop out of the calculation and we are a year closer to the next election. But that's me being cynical again. Brexit has caused a 6% increase in food prices No it hasn’t. A garbage report from LSE (unsurprisingly) says it has. Here’s a more considered piece you might like to consider… Brexit is not to blame for the surge in inflation and soaring food prices
|
|
|
Post by oggyoggy on May 19, 2022 13:03:48 GMT
Who do we believe? The prime minister’s newspaper, or LSE? A specialist in economics or the prime minister’s propaganda machine.
|
|
|
Post by partickpotter on May 19, 2022 13:19:40 GMT
Who do we believe? The prime minister’s newspaper, or LSE? A specialist in economics or the prime minister’s propaganda machine. LSE - a specialist in economics. Nice one.
|
|
|
Post by mrcoke on May 19, 2022 13:21:19 GMT
I agree with most of that and agree that Brexit has caused wages to increase fueling inflation. The low paid have benefitted from Brexit and the basic minimum wage in April rose by much more than 4.2%. The vast majority of the inflation is due to energy prices rising since last summer. The raising of the cap on domestic energy costs in October and April has led to a huge increase in domestic energy costs, despite the fact that wholesale gas price has declined recently. The main reason other countries inflation is lower is because of their governments greater action, but in most cases their inflation is only just less than the UK in April and was higher in previous months until the UK's 2% increase in April when the UK leap flogged countries like Germany. The Netherlands inflation is falling but still higher than the UK and they haven't left the EU! The £ has not slumped. The dollar has increased massively against 6 main currencies including the Euro, so yes food purchased in dollars is more expensive, but how much food is that. The Euro has gone down against the dollar. The dollar has risen because there is a war which always happens, dealers go to the safest currency. Most food price increase is energy costs for farmers, transport of food from the EU, and little to do with Brexit, we haven't introduced controls yet (apart from NI) as anti Brexiteers keep reminding us. In conclusion inflation is due largely to energy costs for industry for nearly a year, oil prices for nearly a year since the world started recovering from the pandemic, energy prices for domestic users since October, with another big hike in April, the rise in the $ due to the war, wage increases particularly for the low paid such a HGV drivers, for which you can blame Brexit. Only France in Europe has had significantly lower inflation than the UK and much of Europe, which is primarily due the Macron capping energy costs last year particularly for industry - I could be cynical and say there was an election to be won! - but France is far better placed to weather the energy storm with 70% of power generated by nuclear power by the largely government owned power industry. Brexit has cost most people very little unless they live in NI , or are selling cheese or shellfish to the EU. I believe the government is letting prices rip now knowing next year it will make inflation look much lower when the price rises in the last 12 months drop out of the calculation and we are a year closer to the next election. But that's me being cynical again. Brexit has caused a 6% increase in food pricesWhere is your evidence for that statement? I have searched and can only find a headline to that effect in that rabid anti Brexit tome The Independent. But when you examine what it says closely it says: "The academics’ analysis shows that Brexit increased average food prices by about six per cent over 2020 and 2021, with the very sharpest rise coming after the Brexit trade deal came into force at the start of last year."
So very little of the present 9% inflation is due to Brexit, most occurred over 2 years ago!. It is also another example of the anti Brexit media doing exactly what the pro Brexit media does and propagate half truths. When quoting a figure like inflation it is always presumed to be an annual figure unless stated otherwise. But the Independent say in their headline: "Brexit has caused UK food prices to rise 6% as cost of living crisis deepens, study says"
but then say over 2 years in the small print, which fools simple people, who don't bother to read the article in full.
If you examine other reports you find: Pasta products: a key base for UK meals, pasta and couscous saw their prices go up 10.4% year-on-year having already jumped 14.9% in January as a result of poor wheat harvests in 2021. Meat has gone up due to a huge jump in feed costs particularly since the war in Ukraine Milk, cheese, eggs, and butter increases have are a result of farmers facing increases to their production costs such as power and transport, with the prices of fertiliser, feed and fuel all rising sharply as a result of Russia’s invasion of Ukraine. Fertiliser prices rose rapidly last year when gas prices started to escalate so farmers have suffered a year of increase. Oils and fats increased price has been driven by the war in Ukraine. Fruit, vegetables and potatoes are more expensive than a year ago but have dropped in price since the new year. www.nationalworld.com/lifestyle/food-and-drink/uk-inflation-how-much-food-prices-risen-uk-cost-of-living-crisis-3536980Virtually all recent reports blame food increases on the war in Ukraine. If you go back to January most reports blame food inflation on energy prices to heat/refrigerate supermarkets, fuel costs for logistics/distribution, wage increases for HGV drivers. news.sky.com/story/cost-of-living-which-foods-are-driving-the-increase-in-inflation-according-to-the-latest-data-12519716The Independent are doing the same as when there was an HGV driver shortage. The real reason was the pandemic and the IR35 registration in April 2021, but let's blame Brexit. The real reason for food price increase is energy/fuel/war/wages and very little to do with Brexit.
|
|
|
Post by oggyoggy on May 19, 2022 13:27:33 GMT
Who do we believe? The prime minister’s newspaper, or LSE? A specialist in economics or the prime minister’s propaganda machine. LSE - a specialist in economics. Nice one. They know more than you or I Anyway, you don’t need to be an economist to know that creating trade barriers leads to increase costs
|
|
|
Post by oggyoggy on May 19, 2022 13:29:01 GMT
Brexit has caused a 6% increase in food prices Where is your evidence for that statement? I have searched and can only find a headline to that effect in that rabid anti Brexit tome The Independent. But when you examine what it says closely it says: "The academics’ analysis shows that Brexit increased average food prices by about six per cent over 2020 and 2021, with the very sharpest rise coming after the Brexit trade deal came into force at the start of last year."
So very little of the present 9% inflation is due to Brexit, most occurred over 2 years ago!. It is also another example of the anti Brexit media doing exactly what the pro Brexit media does and propagate half truths. When quoting a figure like inflation it is always presumed to be an annual figure unless stated otherwise. But the Independent say in their headline: "Brexit has caused UK food prices to rise 6% as cost of living crisis deepens, study says"
but then say over 2 years in the small print, which fools simple people, who don't bother to read the article in full.
If you examine other reports you find: Pasta products: a key base for UK meals, pasta and couscous saw their prices go up 10.4% year-on-year having already jumped 14.9% in January as a result of poor wheat harvests in 2021. Meat has gone up due to a huge jump in feed costs particularly since the war in Ukraine Milk, cheese, eggs, and butter increases have are a result of farmers facing increases to their production costs such as power and transport, with the prices of fertiliser, feed and fuel all rising sharply as a result of Russia’s invasion of Ukraine. Fertiliser prices rose rapidly last year when gas prices started to escalate so farmers have suffered a year of increase. Oils and fats increased price has been driven by the war in Ukraine. Fruit, vegetables and potatoes are more expensive than a year ago but have dropped in price since the new year. www.nationalworld.com/lifestyle/food-and-drink/uk-inflation-how-much-food-prices-risen-uk-cost-of-living-crisis-3536980Virtually all recent reports blame food increases on the war in Ukraine. If you go back to January most reports blame food inflation on energy prices to heat/refrigerate supermarkets, fuel costs for logistics/distribution, wage increases for HGV drivers. news.sky.com/story/cost-of-living-which-foods-are-driving-the-increase-in-inflation-according-to-the-latest-data-12519716The Independent are doing the same as when there was an HGV driver shortage. The real reason was the pandemic and the IR35 registration in April 2021, but let's blame Brexit. The real reason for food price increase is energy/fuel/war/wages and very little to do with Brexit. So your view is that increased barriers to trade and bureaucracy for businesses would have no impact on prices. Rubbish.
|
|
|
Post by partickpotter on May 19, 2022 13:31:38 GMT
LSE - a specialist in economics. Nice one. They know more than you or I Anyway, you don’t need to be an economist to know that creating trade barriers leads to increase costs Know more than you… quite possibly. But don’t lower me down to that miserable institution’s level thank you very much.
|
|
|
Post by Rednwhitenblue on May 19, 2022 13:44:03 GMT
Why is inflation higher here than the rest of the G7? This excellent article says why: www.theguardian.com/business/2022/may/18/why-uk-highest-inflation-g7-ukraine-covid-brexitFirstly, our government isn’t doing much to combat it. Whereas France have a 4% cap on energy prices Italy has a windfall tax on oil and gas providers Spain and Portugal are capping gas prices Germany have reduced fuel duty by 30 cents compared with our 5p Spain and Begium have cut VAT on energy bills, something Johnson told us couldn’t happen in the EU (he lied) We have increased tax on workers. Secondly, brexit accounts for a 6% increase to food prices, as we import so much of it. The slumping pound doesn’t help as that increases food imports prices. Thirdly, brexit has led to staff shortages, which means higher competition and wages, and so companies must charge more for goods and services which increases inflation. Pay growth at 4.2% is good news, but not if inflation is at 9%! Fourthly, covid and the Ukraine war. But that isn’t unique to us and impacts everyone. The take home: brexit is costing us a lot, as is the fact our government are unwilling to introduce measures that other governments are doing to protect against high inflation. I agree with most of that and agree that Brexit has caused wages to increase fueling inflation. The low paid have benefitted from Brexit and the basic minimum wage in April rose by much more than 4.2%. The vast majority of the inflation is due to energy prices rising since last summer. The raising of the cap on domestic energy costs in October and April has led to a huge increase in domestic energy costs, despite the fact that wholesale gas price has declined recently. The main reason other countries inflation is lower is because of their governments greater action, but in most cases their inflation is only just less than the UK in April and was higher in previous months until the UK's 2% increase in April when the UK leap flogged countries like Germany. The Netherlands inflation is falling but still higher than the UK and they haven't left the EU! The £ has not slumped. The dollar has increased massively against 6 main currencies including the Euro, so yes food purchased in dollars is more expensive, but how much food is that. The Euro has gone down against the dollar. The dollar has risen because there is a war which always happens, dealers go to the safest currency. Most food price increase is energy costs for farmers, transport of food from the EU, and little to do with Brexit, we haven't introduced controls yet (apart from NI) as anti Brexiteers keep reminding us. In conclusion inflation is due largely to energy costs for industry for nearly a year, oil prices for nearly a year since the world started recovering from the pandemic, energy prices for domestic users since October, with another big hike in April, the rise in the $ due to the war, wage increases particularly for the low paid such a HGV drivers, for which you can blame Brexit. Only France in Europe has had significantly lower inflation than the UK and much of Europe, which is primarily due the Macron capping energy costs last year particularly for industry - I could be cynical and say there was an election to be won! - but France is far better placed to weather the energy storm with 70% of power generated by nuclear power by the largely government owned power industry. Brexit has cost most people very little unless they live in NI , or are selling cheese or shellfish to the EU. I believe the government is letting prices rip now knowing next year it will make inflation look much lower when the price rises in the last 12 months drop out of the calculation and we are a year closer to the next election. But that's me being cynical again. According to the IMF, CPI inflation in the G7 is predicted to average the following across 2022-23: UK 6.3%, US 5.3, Germ 4.2, Can 4, It 3.9, Fra 3, Jap 0.9 The pound has lost 10% of its value against the dollar in the last 120 days, the euro 7%. It's pretty obvious that 'additional factors' (probably Brexit) have played a substantial part in putting Britain in a more disadvantageous position than it would otherwise have been. It'd be unwise to deny that, the important bit is does the government have a plan to mitigate the effects or is it simply that's what we voted for, tough?
|
|
|
Post by Rednwhitenblue on May 19, 2022 13:45:12 GMT
They know more than you or I Anyway, you don’t need to be an economist to know that creating trade barriers leads to increase costs Know more than you… quite possibly. But don’t lower me down to that miserable institution’s level thank you very much. Somebody didn't get into LSE...
|
|
|
Post by oggyoggy on May 19, 2022 13:46:12 GMT
They know more than you or I Anyway, you don’t need to be an economist to know that creating trade barriers leads to increase costs Know more than you… quite possibly. But don’t lower me down to that miserable institution’s level thank you very much. Right. 9 of their alumni have a Nobel prize in economics. Do you have more?
|
|
|
Post by phileetin on May 19, 2022 13:55:05 GMT
2:45 to 3:30, nails it. But, I think those people just don't care.
its all gone quiet over there.
|
|
|
Post by partickpotter on May 19, 2022 14:07:33 GMT
Know more than you… quite possibly. But don’t lower me down to that miserable institution’s level thank you very much. Right. 9 of their alumni have a Nobel prize in economics. Do you have more? Good for them. Doesn't impress me one jot.
|
|