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George Osborne In Drive To Cut Living Costs For Families In Voter 'sweetener'

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http://www.express.co.uk/news/uk/471419/George-Osborne-in-drive-to-cut-living-costs-for-families-in-voter-sweetener

Treasury sources say these could come in the form of a fresh attempt to lower energy bills, a cut in income tax or an ­above?inflation increase in the state pension.

One said: “The C­hancellor ­recognises there’s still an ­issue with the cost of living and is looking at various ways to address this.

“Nothing is off the table at this stage, whether it be a cut in income tax or lowering energy bills or movement on pensions.”

The Chancellor will spend the next few months deliberating over which policy to pursue. It is thought he will announce the fillip to voters in his Autumn Statement in December, as a direct ploy to woo the electorate to vote Conservative in May 2015.

Howard Archer, chief economist at IHS Global ­Insight, said: “George Osborne is saving a ­sweetener for the election next year. He could well do something to ease the cost of living crisis, ­perhaps targeting energy bills like he did when cutting green levies last year.”

The Chancellor then rolled back green levies in an attempt to get energy suppliers to cut their bills and put money back in ­consumers’ pockets.

David Tinsley, chief UK ­economist at BNP Paribas, said: “There could be a further rise in the personal allowance or a cut in the basic income tax rate.

“I wouldn’t be surprised if the Government cuts the basic income tax rate by 1p. That would get disposable ­income in people’s pockets.”

A cut from 20p to 19p in the pound would be worth £160 a year to ­people on average salaries of £26,500.

Wow an extra £160..... that's going to get the whole economy rocking!!!!

So the govt is now working out how to bribe the electorate to vote for it.

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They are just going to juggle stuff round so you don't pay quite as much to the energy rentier, which will allow you to hand over more to the property rentier.

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The 2015 election will be fought on policies worth around £50-£150 per household per year e.g. childcare vouchers (LibDems), married couples' tax allowance (Con) or the energy price freeze (Lab). Nobody is talking about policies worth 4 figures per household per year which might make a noticeable difference to living standards. Now that politicians have retreated into the realm of unnoticeable policies, I think we can safely say that politics is dead.

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No good if locked into a two years fixed energy deal with a £60 exit penalty.....fuel is too expensive, heating is expensive,hot water and cooking is expensive.

The government should scrap the 5% vat on household energy if they want to do something positive.

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Totally agree, comes to something when Millipede's tour de force policy is to save you £50 on your electricity bill. Just ignore astronomically high property prices and rents, one million unemployed young people, hundreds of thousands on zero hours contracts, falling wages and the transfer of wealth to the rich.

It's sad really. 50 quid off your annual energy costs, a penny off a £4 pint of beer, meanwhile renting an average family home in the south of England will set you back around £15k a year out of taxed income.

The politicians are in a deep state of paralysis. They don't understand what's wrong with the UK and they don't know how to fix it. Their only solution is to wait and hope things fix themselves with time. That's why they're so ecstatic about this year's 'good' economic stats, it shows that the wait and hope strategy 'works'. Crisis coming soon.

Edited by Dorkins

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Osborne is tying himself in knots.

Business investment is due to take off on a multi-year run of over 8% per annum, which drives the projected appetite for households to increase their debt:income levels by 20%, or over £100/month for 5 years straight.

This process is what Osborne hopes will boost GDP to keep the lid on debt:GDP measures.

Problem is that people are skint to start with...

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The 2015 election will be fought on policies worth around £50-£150 per household per year e.g. childcare vouchers (LibDems), married couples' tax allowance (Con) or the energy price freeze (Lab). Nobody is talking about policies worth 4 figures per household per year which might make a noticeable difference to living standards. Now that politicians have retreated into the realm of unnoticeable policies, I think we can safely say that politics is dead.

Tides starting to turn though, EU elections could be the beginning of the end of NuTory and the LibDumbs.

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A cut from 20p to 19p in the pound would be worth £160 a year to ­people on average salaries of £26,500.

Yes that will help all those FTB's pay those 95% mortgages off in double quick time.

As already highlighted by other posters, the cost of housing is where most of peoples income is going!

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More reordering of the deckchairs on the Titanic's sister ship, the USS Great Britain, just keep ignoring the gaping hole bellow the water line... :rolleyes:

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The politicians are in a deep state of paralysis. They don't understand what's wrong with the UK and they don't know how to fix it.

What's wrong with the UK, and most of the Western world, is far too much government. Obviously government can't possibly fix that, so economic collapse eventually will.

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Howard Archer, chief economist at IHS Global ­Insight, said: “George Osborne is saving a ­sweetener for the election next year. He could well do something to ease the cost of living crisis, ­perhaps targeting energy bills like he did when cutting green levies last year.”

The Chancellor then rolled back green levies in an attempt to get energy suppliers to cut their bills and put money back in ­consumers’ pockets.

Maybe some pressure from business that excess debt, HTB extra-debt mortgage, excess money directed to oldies who hoard, slowing velocity for other businesses.

Some threads of this past week or so.

#Housebuilders Fall As Credit Suisse Finds Them Fully Valued

#Graduate Pay Dropping

#Debenhams Boss Say High Street Was 'sea Of Red' In Run-Up To Christmas

#City Bets Against M&s Over Fears Sales Lift Was Driven By Discounts

#Discount Wars Bring Sharpest Fall In Prices For Seven Years

Another re top fashion brands doing lower-priced items.

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Couple of hundred quid a year.... How can the fraud continue.

Nick Clegg's £100 'worker's bonus'. It all adds up... to not very much against house prices.

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Totally agree, comes to something when Millipede's tour de force policy is to save you £50 on your electricity bill. Just ignore astronomically high property prices and rents, one million unemployed young people, hundreds of thousands on zero hours contracts, falling wages and the transfer of wealth to the rich.

Quite.

Can't go around doing anything radical that might upset some politically powerful groups now can we?

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It's sad really. 50 quid off your annual energy costs, a penny off a £4 pint of beer, meanwhile renting an average family home in the south of England will set you back around £15k a year out of taxed income.

The politicians are in a deep state of paralysis. They don't understand what's wrong with the UK and they don't know how to fix it. Their only solution is to wait and hope things fix themselves with time. That's why they're so ecstatic about this year's 'good' economic stats, it shows that the wait and hope strategy 'works'. Crisis coming soon.

Oh they know what they should do, or at least what has the greatest chance of making peoples lives better and so what they should attempt. It's just that they are terrified of doing it. Offending politically powerful groups costs jobs. Either their MP jobs come election time, or the ones they hope to get after they leave parliament. Better not to offend anyone they think.

Edited by alexw

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You've never had it so bad! Superlie has been in power for years, successfully pulling the wool over the eyes of many of the electorate. Let's lie about tuition fees; re-balancing the economy; reducing the deficit - now doubled. Let's lie about living standards; QE and its effect; 'we are all in it together' ; growth not related to property pump priming; exports falling; savings rates at a 40 yr low ; a balance of payments crisis, the worst in 25 yrs.

Let's remember that between 1947 and 1974, the UK ran a trade surplus and since 1974 we have barely had a surplus. We now have phoney money created 'at will' by banks making loans. We have the most expensive housing and rents we have ever seen in the South, compared to wages, so where is the success? The biggest stumbling block to any true recovery and re-direction of investment towards the productive economy, is the way we allow borrowing for homes and BTL investment for residential homes. It' s fake growth being reported as a true improvement in wealth creation. Which such 'boom' created any lasting wealth? Chancellors; Maudling 1963-4, Barber 1973-4; Lawson 1986-8; Brown 'no more boom and bust' 2002-8. Brown's contribution created the biggest, longest hike in homes prices ever (excluding wage and other price inflation).

During this period we have lost more than half our manufacturing base. Making PUMPING up home prices a Brish Govt policy has meant that we have had to pay much larger wages to keep up. Over time, we have found we couldn't manufacture anything a for a price the world could pay or even a price we would be prepared to pay ourselves....

You've never seen it so sad......

Edited by plummet expert

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Let's remember that between 1947 and 1974, the UK ran a trade surplus and since 1974 we have barely had a surplus.

so it sort of proves the point that the EU is no good for us

thats when we joined.

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During this period we have lost more than half our manufacturing base. Making PUMPING up home prices a Brish Govt policy has meant that we have had to pay much larger wages to keep up. Over time, we have found we couldn't manufacture anything a for a price the world could pay or even a price we would be prepared to pay ourselves....

that is most of the problem.

..but we shouldn't just be measuring that on the cost of buying eslwhere, it's also a cost of having a good deal of those that COULD produce now thrown onto benefits, which we also pay for...it's a double whammy.

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