Rachel Reeves, Labour Response

You wouldn't be able to do that now though, get the vendor to pay your deposit.

 

Coming to something when the IMF is telling a Tory govt to rethink their budget urgently.

 

yes, thats who I voted for.

 

There is no strategy. There is just some crazy idealism of the free market, when the free market has got us into this mess.

I'm a small business owner & a company director. I may be a few quid up, but where is the money going to to solve the real issues? Into speculators & merchant bankers hands. Bloody great. I don't mind paying my taxes to get a hospital appointment, doctors appointment, etc. Late diagnosis killed my Mum, how many more? I'd wager more than Covid did.

This lot actually make Thatcher look middle ground. Given I hate what she did to Barnsley, the North East & most of anywhere North of Watford, (northern soul reference), I'm gobsmacked.

Even the Bank of England, IMF, and enyone who has an economics degree is holding their head in their hands. (I have an A level in Economics, the Banking Diploma from the Chartered Institute of Bankers & a Degree in Management Studies from Leeds University).

So many folks are Alright Jacks in our country & buy into their rhetoric I just think until they realise their sons, daughters, grandsons & daughters are up **** creek there will be no change. The next two years may sadly bring that, but just like Duff they won't have a pot to piss in.

Bloody sad.

 

If Truss and Kwarteng were foreign agents intent on destabilising us, they'd be doing a grand job.

 

I woul'nt know if the mini budget is good or bad, i'm reading all the posts and all i'm getting is negative vibes, i feel for my Daughter an Son, both Morgaged and might have to pay as much as 400 to 600 more on their Morgage's is this true or scare mongering.

 

If they're not on a fix interest rates are going up with no end in sight so depending on how big the mortgage is it could be.

 

185,000 and 215,000 Morgages, i would'nt know if there fixed or not,

 

Tell us you don’t live in England without telling us you don’t live in England

(Yes, I know we already knew that and the username was a giveaway if not, but you get my point)

 

Why not? You can buy a house for the same price as I did, just can't be as picky location wise.

 

It's worse than that. Many people get no further than the headlines or, at best, the first paragraph.
As an example the BBC Rome correspondent did a piece earlier this week about Berlusconis " support for Putin's war and an Alliance with Meloni's "far right - Mussolini loving EU hating party. Then in the second half used direct quotes from Berlusconi Who stated he supported Ukraine, deplored the war and was deeply disappointed in Putin's actions. It was also stated that Meloni is not anti EU and has distanced them from Mussolini's fascist era and suspended members expressing extreme right Wing views, albeit the rhetoric re anti LGBT and emphasis on Italy for Italians and family expressed in the campaign is a little disturbing but was linked to the fact' that virtually none of the financial help promised by the EU to help Italy with the huge influx of immigrants arriving in Southern Italy was forthcoming.
BBC these days seemed to describe anything that not centre or slightly left if centre as "far right". They need to focus on the UK more if they are looking for "far right" given Truss's ideological policies backed up by an inept chancellor.
In spite of sensationalist headlines, whilst Italian Govt has moved to to the right, the vast majority of Italians are not raging fascist as the BBC would have you believe and there are checks and balances in the system that prevent extreme politics taking over. Note that Salvini's Liga party which is is very right Wing and anti immigration did badly at the polls. Fuethermore he is still facing court actions for illegally blocking refugee ships from disembarking in Italy when he still had the power to do so.

 

Would have been even worse if they had caught him eating a bacon sandwich.

 

I did the calculation for a £250k mortgage the other day (apparently that's the national average) and if interest rates hit 15%, the repayments on that would be ~£3200 pcm. So if rates get that high - *and they are not fixed* - they would be looking at something around £2400 (lowest) - £2700 (highest) per month. Both would need a combined income of around £60k to be ok with the other bills...

That's a worst case though. Interest rates were last that high when Thatcher was in charge. Although our current government and their supporters seem to be under the impression that the 80s were a golden time for the UK...

 

My mum and dad were crippled by the massive interest rate increase on their first mortgage - they struggled massively. Not golden at all. Think the b of e rate went up to about 15% having been seven or eight when they took the mortgage a couple of years earlier.

That said, the price they paid for the house was about three times the average salary, not seven or eight.

And there wasn’t a crisis on the price of food and utilities in the same way. If interest rates shoot up that high it would be much more dire than it was in the mid to late eighties.

My dad died a long time ago but speaking to my mother I’ve had to reassure her that me and the Mrs will be ok. Her and her husband are mortgage free and comfortable, he still works and earns good money, but she’s panicking about me, the Mrs and the kids. We’ll get by, you have to, but I earn a relatively decent crust, the Mrs works full time and on quite a bit more than minimum wage - and we won’t exactly be well off - so I do wonder how a lot of families will cope.

Plenty round here with two parents working but with combined income still at or below c£40k, or one working full time on say £20-25k, how on earth are they meant to function? The mortgage going up is one thing but my energy bill is going to be not far off my mortgage at current projections, my food bill, which I keep under control as best I can, has nearly doubled in the last twelve months, and it’s costing me a fortune to fuel the car to get to work - and I’m very lucky to only have to go in once a week and work at home the other four days.

The eighties and early nineties were grim for working class folk. It got better later in the nineties generally speaking - but this might be the first generation where the prospects for our kids is markedly worse than it looked like for us - I’m 40 next birthday and I honestly think the future looked much brighter for me and those around my age in the late nineties/early 2000’s than it does for my kids now. And I didn’t get houses at three times salary, free university education and/or grants to fund my accommodation.

Short term, medium and long - it all looks a mess. And the selfish nuggets from the boomer generation and just after, who have accumulated a load of equity in their houses and nice pension pots, who have conveniently forgotten how hard it is towards the bottom, will still vote for this mob. It beggars belief. I couldn’t with any conscience vote blue at any time - but now? You’d need your bumps feeling. Hopefully some will see their kids and grandkids being decimated and grow a heart…

The papers and wider media will see to it that enough still will vote for them though you’d imagine.

 

FFs Troff. I'm 62. I'm a boomer. I can't abide the Tories and would never vote for them. There's a hell of a lot of the same view. Do you think Kwarteng etc are boomers?
Stop tarring everybody with the same brush.

 

They were though, for about 5% of the nation.

 

And isn't that an issue, that you struggled to buy a house and now not only do people face a similar (if not worse) struggle, but they get a worse house as well?

 

I didn’t. I said the selfish nuggets from the boomer generation. I certainly did not wish to imply that all of that generation are amongst the selfish nuggets. That is not the case. My mother is of similar vintage, is financially comfortable, and she’d never vote for them either.

 

Only the same issue that exists through all generations I guess.

 

But surely by your own admission it is worse now than it was before if people have the same struggle to buy worse houses?