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Realistbear

Sky: First Drop In Household Spending For 10 Years

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http://uk.news.yahoo.com/5/20101130/tuk-first-drop-in-household-spending-for-45dbed5.html

First Drop In Household Spending For 10 Years
1 hour 35 mins ago
Sky News
2010
The data from the Office For National Statistics was released as a key indicator showed consumer confidence in personal finances has hit a 21-month low, ahead of the looming public sector spending cuts.
In other words, not since the height of the recession in February 2009 have Britons felt so bad about their wealth.

Wow!

Edited by Realistbear

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http://uk.news.yahoo.com/5/20101130/tuk-first-drop-in-household-spending-for-45dbed5.html

First Drop In Household Spending For 10 Years
1 hour 35 mins ago
Sky News
2010
The data from the Office For National Statistics was released as a key indicator showed consumer confidence in personal finances has hit a 21-month low, ahead of the looming public sector spending cuts.
In other words,
not since the height of the recession in February 2009 have Britons felt so bad about their wealth
.

Wow!

Thats coz they just realised that the "wealth" is really debt. :D:D:D

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What was notable in the ONS’s spending report is that average gross household income in 2009 was £683 per week, down from £713 in 2008. That’s a hefty 4.2% drop. It’s therefore little surprise that spending dropped.

Here’s a link to the family spending report. Plenty of stats on average mortgage and rent payments.

http://www.statistics.gov.uk/downloads/theme_social/family-spending-2009/familyspending2010.pdf (1.5mb PDF)

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What was notable in the ONS’s spending report is that average gross household income in 2009 was £683 per week, down from £713 in 2008. That’s a hefty 4.2% drop. It’s therefore little surprise that spending dropped.

Here’s a link to the family spending report. Plenty of stats on average mortgage and rent payments.

http://www.statistics.gov.uk/downloads/theme_social/family-spending-2009/familyspending2010.pdf (1.5mb PDF)

So the average paycut was 4.2% or was it costs rising at 4.2%. For me i took a 10% salary cut, and costs rose, so i bet i was around 14% worse off years 08 to 09, then this year no change, just 5% down due to costs rising. So all in all since 2008, i have the spending power of 80p (2010) in the pound (2008). So an average wage of £1800 a month, you now recieve £1440.00 a month, its no wonder i am slimmer and more athletic.................

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Oil was nearly $150 a barrel in 2008 so must account for a lot of the drop in spending compared to 2009

I get the feeling petrol at the pump is more expensive now than when oil was at $150 per barrel. Can anyone concur?

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There is that old joke about some parents who think their child cannot speak until on his 6th birthday he says "Mother could you pass the salt please?". The parents are astonished and ask him why he has been silent until now and he says "I've never needed anything before"

Would it really be so bad if we scaled back consumption by say 20%?

I mean we could do something crazy like reduce working hours by a similar amount, or spend evenings with family and friends rather than catching up on paperwork.

This constant need for growth is crazy.

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There is that old joke about some parents who think their child cannot speak until on his 6th birthday he says "Mother could you pass the salt please?". The parents are astonished and ask him why he has been silent until now and he says "I've never needed anything before"

Would it really be so bad if we scaled back consumption by say 20%?

I mean we could do something crazy like reduce working hours by a similar amount, or spend evenings with family and friends rather than catching up on paperwork.

This constant need for growth is crazy.

Burn the heretic

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I guess we could move society forward by concentrating on correcting injustices rather than GDP.

There's a lot of the truth to the fact that economic growth has meant more real difference to the poor than the rich but in this case there's a LOT of crap at the rich end of society that is nothing to do with rewarding contribution to society and more to do with corruption.

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There is that old joke about some parents who think their child cannot speak until on his 6th birthday he says "Mother could you pass the salt please?". The parents are astonished and ask him why he has been silent until now and he says "I've never needed anything before"

Would it really be so bad if we scaled back consumption by say 20%?

I mean we could do something crazy like reduce working hours by a similar amount, or spend evenings with family and friends rather than catching up on paperwork.

This constant need for growth is crazy.

Problem is the next guy will always be willing to work that extra hour to earn that extra few quid to outbid you on the nicest house on the road, or the slightly better car. This process means working hours are bid up until everyone is trapped into a 40 hour week, which is pretty much the max time any sane human is willing to work. No one can permanently do 7 days a week and have any semblance of a life, there's just not enough time to fit in chores and a small social life, hence the 5/6 day 40 hour approx max.

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I get the feeling petrol at the pump is more expensive now than when oil was at $150 per barrel. Can anyone concur?

Just had a look at my old Petrol prices emails for supermarket unleaded.

Price : 115.9p

Updated : 29-06-2008

Price : 92.9p

Updated : 09-11-2008

Price : 99.9p

Updated : 12-07-2009

103.9p

21-12-2009

115.9p

28-6-2010

120.9p

29-11-2010

Tesco boss Terry Leahy's salary has gone up from £9.1m to £15.6m don'tcha know - any of that down to fuel price increases?

http://www.thisismoney.co.uk/news/article.html?in_article_id=517324&in_page_id=2

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I get the feeling petrol at the pump is more expensive now than when oil was at $150 per barrel. Can anyone concur?

Here's the latest chart for weekly fuel prices (includes yesterday, 29/11/10):

WeeklyFuelPrices291110.gif

Maximum petrol price = 121.31p (10/05/2010), currently 119.21p.

Maximum diesel price = 132.89p (21/07/2008), currently 123.20p.

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Here's the latest chart for weekly fuel prices (includes yesterday, 29/11/10):

Maximum petrol price = 121.31p (10/05/2010), currently 119.21p.

Maximum diesel price = 132.89p (21/07/2008), currently 123.20p.

VAT down to 15% Dec 2008 back up to 17.5p Jan 2010

How much has fuel duty gone up?

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Problem is the next guy will always be willing to work that extra hour to earn that extra few quid to outbid you on the nicest house on the road, or the slightly better car. This process means working hours are bid up until everyone is trapped into a 40 hour week, which is pretty much the max time any sane human is willing to work. No one can permanently do 7 days a week and have any semblance of a life, there's just not enough time to fit in chores and a small social life, hence the 5/6 day 40 hour approx max.

You obviously haven't been to Asia. Working weeks are usually 60 hours (paid 40). In Japan and Korea its even more nuts. 100 hour weeks (paid 35), companies exploit their staff so heavily they people literally do die standing up on assembly lines. The government covers up Karoshi and hides the deaths due to other factors. There was this nutter of a Korean I met who's unpaid internship was 133 hours a week. He looked like the living dead and it was aging him considerably.

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Summer 2008 Oil $148 a barrel VAT 17.5%, Duty on fuel 50.35p supermarket price £1.159 per litre

December 2010 Oil $88 a barrel VAT 17.5% Duty on fuel 58.19p supermarket price £1.219 per litre

So the oil price has dropped 40%, VAT is the same, Duty has increased 7.84p, supermarket price has increased 6p

A 1.84p drop in price per litre taking duty into account for a 40% drop in oil.

It seems our supermarkets want to inflate the price of fuel so that when we have the 2.5% VAT rise in January they can charge more.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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