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Britons Cutting Back On Groceries As Skintness Spreads

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http://uk.finance.yahoo.com/news/Britons-cut-back-groceries-reuters_molt-1222280364.html?x=0

Mark "Harry" Potter, 15:31, Tuesday 29 March 2011
LONDON (Reuters) - Britons have been cutting back on groceries, data showed on Tuesday, adding to signs of a rapid deterioration in consumer confidence which analysts fear could derail an economic recovery.

Gordon's lunch about to be paid for. The look of fear is to be seen everywhere as people take on that gaunt look as if all hope was lost. What a sad state of affairs and what awful damage Gordon's decade of banksterism and greed has done. :(

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http://uk.finance.yahoo.com/news/Britons-cut-back-groceries-reuters_molt-1222280364.html?x=0

Mark "Harry" Potter, 15:31, Tuesday 29 March 2011
LONDON (Reuters) - Britons have been cutting back on groceries, data showed on Tuesday, adding to signs of a rapid deterioration in consumer confidence which analysts fear could derail an economic recovery.

Gordon's lunch about to be paid for. The look of fear is to be seen everywhere as people take on that gaunt look as if all hope was lost. What a sad state of affairs and what awful damage Gordon's decade of banksterism and greed has done. :(

That's inflation for you.

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That's inflation for you.

Thats non-availability of credit at work plus a measure of joblessness.

Its all going to crumble into a heap and the process will accelerate. The cycle cannot be broken despite Gordon's promise that it would.

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The look of fear is to be seen everywhere as people take on that gaunt look as if all hope was lost.

Sensationalist shyte! You should write a few articles and send them to the editor of the Daily Mail. Could be a nice little earner for you....

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http://uk.finance.yahoo.com/news/Britons-cut-back-groceries-reuters_molt-1222280364.html?x=0

Mark "Harry" Potter, 15:31, Tuesday 29 March 2011
LONDON (Reuters) - Britons have been cutting back on groceries, data showed on Tuesday, adding to signs of a rapid deterioration in consumer confidence which analysts fear could derail an economic recovery.

Gordon's lunch about to be paid for. The look of fear is to be seen everywhere as people take on that gaunt look as if all hope was lost. What a sad state of affairs and what awful damage Gordon's decade of banksterism and greed has done. :(

Given UK levels of obesity some may have plenty of fat to live off for a while yet.

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Avoid supermarkets they are ripping you off, raising prices under the disguise of inflation expectations, to feed spiralling executive pay.

Try shop locally or use such as Aldi and Lidl

Sainsburys 2009 to 2010

Justin King £2,048,000 to £3,348,000 (+63%)

Mike Coupe £937,000 to £1,407,000 (+50%)

Darren Shapland £967,000 to £1,542,000 (59%)

http://www.morrisons.co.uk/Global/Images/Corporate/Annual%20Report/Morrisons_AnRep10.pdf

Morrisons

Increase the maximum annual bonus potential for Executive Directors from 100% of base

salary to 200% of base salary for 2010/11.

Increase the level of Long Term Incentive Plan (LTIP) awards for Executive Directors

(with the exception of the incoming Chief Executive) for 2010/11 from 200% of salary to

240% of salary. The incoming Chief Executive will receive an LTIP award equal to 275% of salary.

These award levels are within the individual limit of 300% of salary contained in the LTIP rules.

The Committee, therefore, very quickly took certain steps to this end and agreed to an additional LTIP award of

100% of salary to these two individuals, in addition to the 200% of salary award already received

in 2009/10

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

Tesco

Terry Leahy £9.1m to £15.6m

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

annual bonus payouts ranged from 60% to 90% of maximum.

The maximum potential bonus was 250% of salary for the Group

CEO , 300% of salary for the US CEO and 200% of salary for other

Executive Directors;

• long-term incentive payout was 90% of a potential maximum of

100% of salary;

• no material changes to policy, remuneration mix or scale of incentives;

• deferred awards, already earned from prior years, representing

4.6 million shares became available to Directors;

http://www.tescoplc.com/annualreport09/downloads/

M&S

Let’s take it one helping at a time. In year one Bolland will receive £975,000 basic. He’s entitled to the company’s maximum 250pc bonus, worth up to £2.44m, if he outperforms the consensus of analysts’ expectations. He will then receive an “exceptional” award of shares under the company’s Performance Share Plan worth 400pc of salary, or £3.9m. He won’t be able to get his hands on this last bit of his £7.3m year-one package until 2013.

But this level of compensation compares more than favourably with Sir Stuart Roses’s starting package in 2004/05 when he was parachuted in on a starting salary of £850,000 plus signing-on fee of £1.25m to defend the company from Sir Philip Green’s takeover bid. Even doing two jobs as executive chairman, Sir Stuart is currently paid a £1.13m salary.

But M&S is also picking up the tab to compensate Bolland for leaving his previous pay pile at Morrisons. This adds up to £7.5m. The ingredients of this little dish are £1.6m in cash and £1m in shares for his 2010 awards, plus another £4.9m granted as he walks through the M&S door for Morrisons shares not vesting until 2011 and 2012.

http://www.telegraph.co.uk/finance/comment/damianreece/7131563/Marc-Bollands-MandS-pay-package-is-too-rich-to-swallow.html

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Thats non-availability of credit at work plus a measure of joblessness.

Its all going to crumble into a heap and the process will accelerate. The cycle cannot be broken despite Gordon's promise that it would.

That's inflation for you.

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http://uk.finance.yahoo.com/news/Britons-cut-back-groceries-reuters_molt-1222280364.html?x=0

Mark "Harry" Potter, 15:31, Tuesday 29 March 2011
LONDON (Reuters) - Britons have been cutting back on groceries, data showed on Tuesday, adding to signs of a rapid deterioration in consumer confidence which analysts fear could derail an economic recovery.

Maybe they're all just wasting less food. Hasn't the figure been put at something like 30% of all food bought in the UK?

Maybe the quaint old-fashioned T-word is spreading once more through the green and pleasant: thrift.

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Given UK levels of obesity some may have plenty of fat to live off for a while yet.

Interestingly, some British/Aussie Doctors imprisoned in Changi POW camp in WW2 used the opportunity to investigate weight loss on people of different sizes but all sharing a common diet.

They noted that slim people suffered the most on little food for about the first 6 weeks whereas large and overweight people thrived.

Things changed about the 6 week period.

The slim people were able to carry on without further significant weight loss assuming that they could maintain their meagre diet and did not succumb to sickness.

Things were not so go for the originally large and overweight period. Although they flourished for the first 6 weeks they then went downhill rapidly often resulting in life-threatening weight-loss.

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p.s.

I think my local M&S food-hall is suffering big time. The shelves are rarely ever completely filled and the numbers who shop there has clearly fallen by a significant amount. They appear to have less sandwiches there also.

I do go in there from time to time - usually when they have 3 for the price of 2 in frozen veg but their frozen veg prices have gone up so much now that it is probably no longer worthwhile.

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p.s.

I think my local M&S food-hall is suffering big time. The shelves are rarely ever completely filled and the numbers who shop there has clearly fallen by a significant amount. They appear to have less sandwiches there also.

I do go in there from time to time - usually when they have 3 for the price of 2 in frozen veg but their frozen veg prices have gone up so much now that it is probably no longer worthwhile.

Good observation. I'm seeing the same in local Asda and Tesco, but I do tend to shop at odd times to avoid the crowds.

Suspect it's a symptom of the trimming of the fat left in they're JIT/KANBAN order/delivery operations.

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Good observation. I'm seeing the same in local Asda and Tesco, but I do tend to shop at odd times to avoid the crowds.

Suspect it's a symptom of the trimming of the fat left in they're JIT/KANBAN order/delivery operations.

I have noticed a marked change in people's expressions in the grocery shops as they pick through things and calculate what they can buy and what they have to deny themselves. Their faces tell it all--dooomed, were doomed I tell ye.

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I have noticed a marked change in people's expressions in the grocery shops as they pick through things and calculate what they can buy and what they have to deny themselves. Their faces tell it all--dooomed, were doomed I tell ye.

Gawd, where are you, Barra :lol:

The 'Oops' section of Asda has it's usual devotee's (It's usually non-Scots who are squirelling through those 'bargains'), but they're still picking up the same bargains as they did this time last year.

The only desperation I'm seeing is in Real Estate window's, and that's not upsetting me in the least!

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http://uk.finance.yahoo.com/news/Britons-cut-back-groceries-reuters_molt-1222280364.html?x=0

Mark "Harry" Potter, 15:31, Tuesday 29 March 2011
LONDON (Reuters) - Britons have been cutting back on groceries, data showed on Tuesday, adding to signs of a rapid deterioration in consumer confidence which analysts fear could derail an economic recovery.

Gordon's lunch about to be paid for. The look of fear is to be seen everywhere as people take on that gaunt look as if all hope was lost. What a sad state of affairs and what awful damage Gordon's decade of banksterism and greed has done. :(

...did you not have a strange moment about Gordo a few months ago defending him....?.....good to see you have seen the light once more... :rolleyes: .

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I don't know about you guys but I used to save about 2/3 of income... aside from 'investment' losses (grrr - will stick to ISAs and NS&I now) I am saving much less each month. Fuel is hitting me, as well as some food products. The occasional cinema trip costs a fortune! And granted, these last two months I've had road tax, full service & MOT, and booked a 'cheap' holiday for June, so b$gger all saved there. Feels like my account is getting nowhere! It's going to be a long road to recovery if I am feeling it - I'm a tight Scot!!

EDIT - done my latest bit by getting a new phone contract - simple phone with few minutes (rarely use more than 300 a month) for £4.25 a month! That's cut my mobile bill by two thirds!

Edited by guitarman001

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Coincidently the new ipad has come out here B) and sold out already , clearly folks have been making cutbacks on non essentials over the last few weeks to be able to buy one ;)

Don't say these things. Keeps people like me in the job!! ;)

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Coincidently the new ipad has come out here B) and sold out already , clearly folks have been making cutbacks on non essentials over the last few weeks to be able to buy one ;)

....many are buying instead of a notebook (laptop)...

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Will this be good for value ranges? Or will supermarkets want to make more money and put their prices up on the value stuff too?

Reckon it will be good for value range as the huge supermarket near me now has whole isles of the stuff. Seems less of the top 'luxury' range.

I usually shop online and buy more or less the same stuff every week, the bill seemed to jump quite a bit a few months ago, but seems to have stabilised recently as the main supermarkets seem to be trying to race each other to the bottom.

One thing I have noticed is smaller pack sizes and even sneakier, a change of ingredients to include more fat.

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Coincidently the new ipad has come out here B) and sold out already , clearly folks have been making cutbacks on non essentials over the last few weeks to be able to buy one ;)

Of course Apple are going to say that their new gadget is sold out. I wouldn't believe a word of it though.

In terms of food budgets, people are going to have to learn how to cook again instead of buying ready-meals and takeaways.

Maybe people, when they've sold the second car, will dig up their paved over gardens and as my dad would say 'put in a few rows of spuds'.

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Discounters outshine supermarkets

http://www.google.com/hostednews/ukpress/article/ALeqM5jKR7l-1RoHv9OhRh92R-1_AiSPuA?docId=N0287241301406943275A

(UKPA) – 7 hours ago

Discount grocery chains continue to outshine their "big four" supermarket rivals as consumers tighten their belts, figures have revealed.

German chain Lidl grew its share from 2.3% to a record 2.5% in the 12 weeks to March 20, according to market researcher Kantar Worldpanel.

....

Edward Garner, communications director at Kantar Worldpanel, said: "While there are no signs yet of the explosive growth in economy own-label ranges that we saw in 2008, there are now clear indications that value for money is driving retailer performance."

Discount chain Aldi increased its market share to 3.1% from 2.8%, while Iceland was up 1.9% and 1.8% and Farm Foods held at 0.6%.

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It's the paradox of spendthrift.

A lot of the petrol stations have already reversed the budget's 1p tax reduction and prices are back to at least the pre budget level.

So much for "helping people with their weekly shopping budget" - it lasted less than a week.

They should have called it "helping people with part of next week's shopping budget"

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It's the paradox of spendthrift.

A lot of the petrol stations have already reversed the budget's 1p tax reduction and prices are back to at least the pre budget level.

So much for "helping people with their weekly shopping budget" - it lasted less than a week.

They should have called it "helping people with part of next week's shopping budget"

I saw that this evening.

Diesel was sneaking put up a penny before the budget then dropped back down a penny (135, 136, 135) and now it is 137p

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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% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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