MSE News: Hung parliament - how will it affect your finances?

Titus_R._Soules

Paulgonnabedebtfree wrote: »

You swine. I was saving that one for the coup de grace .

Swine is ok.

Just don't call me a Conservative, or it is pistols at dawn. :rotfl:

GDB2222

Alan_M wrote: »

I would have prefered any outcome other than hung as it's sent the markets into turmoil and effected currencies in a manner not helpful to a country that's a net importer of goods.

On the contrary, if the Pound drops a fair bit more, we'll stop being a net importer of goods. That will be a lot better for us than being a net importer based on ever-increasing debts.

baby_boomer

Trouble is that a big fall in the £ would be inflationary.

IMHO Gordon got lucky in just being able to put off interest rate rises which may have reversed the recent house price rise.

Kohoutek

GDB2222 wrote: »

On the contrary, if the Pound drops a fair bit more, we'll stop being a net importer of goods. That will be a lot better for us than being a net importer based on ever-increasing debts.

But the problem is that we're a net importer of energy (oil & gas) and food. Standards of living will be eroded very significantly if the pound depreciates a lot, because in the long run, fossil fuels and products based on fossil fuels like those made by industrial agriculture, will only go up in price.

tara747

I am about to say all of this as a politically neutral person!

I am glad that there is a hung parliament, it will chasten the politicos and may make for an interesting Parliament. It might also bring higher interest rates. more quickly than expected. I agree with those who are fed up of low interest rates and the govt being obsessed with proppping up house prices.

And if I hear the phrase 'hard working families' one more time I will !!!!ing scream. :mad: What about hard working single people? What about hard working couples with no children, do they count as 'families'? Or is having children the only badge of acceptability in GB's book? If Call Me Dave promised never to utter that phrase for the rest of time I would gladly vote for him.

Get out Brown, people are fed up of your sick nanny state.

Alan_M_2

GDB2222 wrote: »

On the contrary, if the Pound drops a fair bit more, we'll stop being a net importer of goods. That will be a lot better for us than being a net importer based on ever-increasing debts.

In one respect a very good point, but it's mute unless help is provided to UK manufacturing to bolster output of UK goods.

The trouble is, that hasn't happened. Billions got pumped into the banks and rather than spreading the love as they were asked (not really told) to do...they said..Thanks very much that makes our bottom line look better.

My business grew 30% in my last financial year, I didn't borrow more, I didn't even continue as I was, the moment my state supported bank saw cash arriving they called in every possible amount they could to claw money back.

My cashflow remained tight despite growth the only upside for me is that I now don't have an overdraft (Which was £40,000 8 months ago). I still have cashflow issues though.

Government (banks) can't bleed business any more to clear the debts, then somehow expect them to increase productivity, increase employment, increase payments in business rates (don't fall for the budget rubbish there - mine went up - you need to be micro business to have got any discount).

Every time I see Mandleson's face on TV commenting on how much they;ve done for UK business, I want do an Elvis and shoot the thing...the guy actually believes the carp he's speaking.

carolt

Of course he doesn't - it's almost indecent to accuse Mandelson of integrity - the man is Macchiavelli.

HAMISH_MCTAVISH

carolt wrote: »

To be fair, you've had lowish - well, v low - mortgage payments for quite a while.

Those of us who rent have had no such luxury.

I'm personally rather fed up of subsidizing people like you paying off your debts...

carol, you have had every opportunity to buy a house, and spectacularly failed to do so.

According to the various versions of all the stories you tell, first it was choosing to travel round europe, then it was choosing to have children rather than save up and get a house. Then it was choosing to have more children. And finally, to sit around waiting for a crash, and then get greedy and miss it when it happened.

Not only did you miss the cheapest house prices relative to income in several generations in the late 90's, you missed the cheapest and easiest to get mortgage margins in living history in the 2000's, then missed the sweet spot for buying when you could have had both cheaper prices AND cheap funding in 2008, and then missed the bottom for prices in early 2009.

And after all that, after making some of the worst decisions in house buying history, you have the audacity to complain that people who did take advantage of these things are somehow being subsidised by the low rates currently happening to stimulate the economy and bring us out of recession.

And then claim you're not trolling??????

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

carolt

HAMISH_MCTAVISH wrote: »

carol, you have had every opportunity to buy a house, and spectacularly failed to do so.

According to the various versions of all the stories you tell, first it was choosing to travel round europe, then it was choosing to have children rather than save up and get a house. Then it was choosing to have more children. And finally, to sit around waiting for a crash, and then get greedy and miss it when it happened.

Ermm..you need to read my back posts better, Hamish. Almost none of that is accurate, bar the having children bit. Which was clearly very remiss of me - obviously any sane person (like your good self) would put buying a house above having children... :eek:

No idea where you got the 'travelling round Europe' bit??? Or sitting around 'waiting for a crash' and deciding not to buy? Or failing to save?

Go reread my posts, then come back and talk sense...

By the way, WHICH of us is trolling? :rotfl:

silvercar

Which was clearly very remiss of me - obviously any sane person (like your good self) would put buying a house above having children...

I'd put buying a house before having children, rather than above having children. That way you don't get caught in the trap where you need a family home rather then a FTB home at the same time as you have the great expense of children / childcare and possibly reduced income if you decide to reduce hours.

Of course you can bring up children in rented accommodation, but if your desire is to buy, then its a difficult time to do so.