Interest rates cut to 0.25% from 0.5% discussion

Living_proof

Kit1 wrote: »

I remember having to work harder to pay my mortgage when it was 14/15/16% and there was no help then. Now l have paid of my mortgage and again l have to suffer, We are the generation who have been stuffed by the government every time. We have to work longer for our pension when will we get our break?

Hear hear! And now inflation is due to take off we won't even be able to buy so much with our hard-come-by savings.

badger09

verntern wrote: »

Admirable Badger. Over the years I have gone through redundancy and worries about how to support my family. Be careful you don't fall off your pedestal.

Thanks for your concern.

I don't have a pedestal

I do have a sense of perspective.

buglawton

doe808 wrote: »

Agreed, but remember, the Conservative brexit group said they would have voted against an emergency budget. The outgoing chancellor wanted to- but he had no chance of getting it through.

Everyone could see it was required.

The outgoing chancellor was threatening one & all with a post-Brexit austerity budget as part of 'project fear'. That's the reason 1 or 2 percent more people voted Brexit - the British public hate being take for fools.

Then it's Cameron and Osborne out at short order, new chancellor in, time for a proper honest emergency budget... but it didn't happen.

gadgetmind

buglawton wrote: »

That's the reason 1 or 2 percent more people voted Brexit - the British public hate being take for fools.

Hate being taken for a fool and so do something foolish to prove ... um.

colsten

buglawton wrote: »

There should have been an emergency post-Brexit stimulus budget the minute May came in. Some real cuts in VAT and Stamp Duty just for starters.

Stupidly, the chancellor decided not to bother.

Hence the BOE has had to respond with a one-dimensional tool, interest rate cut. Which only benefits the mortgaged and indebted!!

Better to think a little while before doing a budget. He might be able to construct something half decent, if 'decent' is a word that can be used in the context of Brexit.

doe808

buglawton wrote: »

The outgoing chancellor was threatening one & all with a post-Brexit austerity budget as part of 'project fear'. That's the reason 1 or 2 percent more people voted Brexit - the British public hate being take for fools.

Then it's Cameron and Osborne out at short order, new chancellor in, time for a proper honest emergency budget... but it didn't happen.

Yes- that's why I used the word 'outgoing'.

Wonder if the same Conservative Brexit group would vote down an emergency budget now? We've cut out cloth and now we have to live with the consequences, as I see it. And
austerity is the name of the game once again

Doshwaster

doe808 wrote: »

Agreed, but remember, the Conservative brexit group said they would have voted against an emergency budget. The outgoing chancellor wanted to- but he had no chance of getting it through.

Everyone could see it was required.

I can remember Labour warning against an emergency Budget and saying that they would vote against it. Now they want urgent government action. I wish they would make up their mind.

gadgetmind

doe808 wrote: »

austerity is the name of the game once again

I'd like to see further streamlining of the benefits system but there is also scope for more infrastructure investing.

Unfortunately the benefits bill is likely to rise no matter what as unemployment ratchets up.

Rock and a hard place.

Gadfium

buglawton wrote: »

- the British public hate being take for fools.

.

:rotfl::rotfl::rotfl:
And yet they gobbled up garbage about £350M per week going into the NHS, that Turkey was about to join the EU, that those horrible brown people were simultaneously taking our jobs AND taking our benefits and that Gove, Johnson and Farage were telling the truth.

Something doesn't line up.....

BucksLady

Nick_C wrote: »

It's the young I feel sorry for.

I don't and I'm in my early thirties . I feel sorry for elderly people who have not received the benefit of a good education and have worked hard throughout their lives in jobs which have paid very poorly. Many have not been able to save very much into pensions or cash savings. Such people are suffering so badly with the meagre rates which are on offer.