Inflation

Based on the way it is currently calculated interest on student loans will apparently hit 12%+ this year

 

sorry mate, we need an empathy button , lots of love ,turn round and wave I am 2 rows back in the same boat

 

Yikes!

 

Yep, just seen that.



Luckily, my loan is Plan 1 so I believe my interest rate will stay at 1.5%. I borrowed 24k, paid back 6k so far and currently owe 29k with it rising all the time (as I don’t earn enough to pay it back at the minute).

 

Price of bicycle pumps have doubled due to inflation !

 

Not going to get into a argument with you SR,but I don't see it in Spain, New Zealand and other countries, if anything there has been deflation in some countries. Obviously, I 'm not an Economist but my understanding is that inflation was bound to rise due to over a decade of unnaturally low interest rates and a fiscal policy of spending using cheap credit. The Chancellor had the opportunity to control the energy market and chose not to. The lack of major production,goods to export, trade barriers and tariffs, due to leaving the EU,yes it has had an impact.
Quantative Easing over many years without the reserves to underwrite them,can all be added to the list.
Yes, the Pandemic has had some effect on the current Inflation rates but years of cowardly politicians refusing to address the fault lines in our society and economy, is the main reason.
Again, I reiterate not trying to cause an argument but I think it's a bit more complex than the Pandemic only or the next excuse, Russia's war with Ukraine.
All the best to you.

 

Mine got written off this year. I was at Uni at the time the first loans were introduced (these are loans instead of a maintenance grant rather than loans to pay course fees). Part of the terms were they would be annulled 25 years after the final payment. It's been 25 years. Never made a repayment. Despite being university educated and being in a managerial position I don't earn the national average wage, so never met the threshold for repayment.

 

Can’t we just print more money?

 

Will made the final payments on his this year but he only borrowed 14k, I think. I’m about to start paying it back again after going a point up the pay scale but it will be less than the interest, which is infuriating. I’m happy to pay if back, I did borrow it after all, but it’s demoralising to see the amount going up after a year of payments.

 

There's tons of money. Millions and millions of tons of it (if it were stored as bank notes rather than zeros and ones). It's in the bank accounts of very rich people. We're not lacking in money, just a fair and even distribution.

 

Dear oh dear, is there any wonder we have such a **** shower of a govt. who get away with we’ll almost everything,with thinking as shallow as this. Either that or desperate Tory apologists

 

I think that was tried in Germany in the 1930s (?) when a loaf of bread cost something like a billion billion marks.
Imagine going into Poundland for a packet of sweeties and the poor soul behind the counter having to work out the change from a trillion pound note !

 

Pretty rich the amount of people on here hand-wringing about the catastrophic economic crisis and the poverty and disaster it will create for millions of working class people that they all helped to create by pleading for more and more extreme Covid measures.

 

Please do not tell BOJO.

 

what an angel!

 

Hopefully we'll have voted in a government that does something about fair rents and housing costs by then. A stable, affordable home for its inhabitants should be at the heart of a nation as rich as ours .

 

That is a big hope Helen. I would love to have confidence in my government. I think your hope will go alongside a fully staffed fully funded NHS.

 

Indeed:
Some of us said as early as March 2020 that managing Covid well would mean that the economy would suffer least.
And that’s been proven the world over. It’s almost as if intelligent management doesn’t happen in isolation.

Meanwhile; Covid deniers like TM believe that just ignoring hundreds of thousands of deaths wouldn’t harm the economy at all.