Monday, May 30, 2022

What Cost of Living Crisis?


 

Despite rising inflation and extortionate energy bills, and despite media hysteria, people have yet to curtail their spending as evidenced by:

1 Massive queues this weekend at airports and ferry terminals.

2 Individuals paying £1K or more to watch Liverpool on Saturday.

Either the media hysteria is overplayed, or people are going to have one hell of a shock!

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Friday, May 27, 2022

Who Pays For Rishi's Extra £15BN Bung?


 

WE DO via:

1 Increased inflation (which will eat away at the real time value of government debt)

2 Increased energy bills resulting from reduced investment by energy companies levied with the windfall tax.

 3 Increased taxes used to fund the £15BN.

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Thursday, May 26, 2022

Rishi's £37BN Package

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Sunak's £30BN Bonanza - Allegedly


 

It is thought that a windfall tax will also be levied on energy firms.

The latter is extremely unwise, as it will lessen future investment spend by the companies upon which it is levied.

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Tuesday, May 24, 2022

Ofgem To Raise Price Cap To £2,800 in October

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Monday, May 23, 2022

Boris and Rishi at Loggerheads Over Cost of Living

Boris and Rishi have yet to agree on what can and needs to be done!

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Thursday, May 19, 2022

Schrödinger's Plan For Inflation


 

Sunak told city bigwigs last night that he has a plan to help people wrt inflation.

Unfortunately, he hasn't told anyone what it is yet!

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Wednesday, May 18, 2022

Inflation Hits 9%

As expected, inflation has hit 9%. 

It is expected to get to around 10%, then fall back towards the end of the year, as demand falls and the economy tightens.

All of which begs the question as to why the Bank of England increased rates?

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Tuesday, May 17, 2022

Bailey Admits Bank is Powerless


 

Andrew Bailey, Governor of The Bank of England, told MPs yesterday that inflation was being driven by factors outwith the control of the Bank of England (eg the war in Ukraine and rising energy costs).

He then went on to say that the effects of these price rises would "ironically" dampen demand and as such lead to a fall in inflation.

Given that, I am bound to ask what was the point of raising rates?

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Friday, May 06, 2022

Time For The Bank of England To Lose Its Independence

Yesterday's wooden headed decision by the Bank of England to raise rates is the clearest signal yet that it doesn't know what it is doing, and should be brought back under direct government control.

Sadly, because Rishi is acting like a rabbit caught in the headlights, were control to be given back to the government Rishi wouldn't know what to do with it!

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Thursday, May 05, 2022

Bank of England Raises Rates by 0.25%

For reasons best known to itself, the Bank of England put up interest rates by 0.25% to 1%, and warned inflation could hit 10% by end of year, the highest since 1982. 

The Bank also warned that the economy is set to shrink next year putting the UK at real risk of recession.

The only good thing to come of this is that it made a fool of Peston, who was predicting a rise of  0.5%! 

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  • Appeal to the First-tier Tribunal or Upper Tribunal
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