Autumn statement - help for savers?

teddysmum

Thrugelmir wrote: »

Most a likely an announcement that Autumn statements (budget changes) are too cease. A return to once a year March budgets.

Why should savers receive help? Inflation has been low. Plenty of options available already. Many people simply haven't saved enough.

Perhaps because they couldn't save much from a basic wage. Everyone isn't on £40000+ salaries with a partner earning likewise, so having lots of spare cash.


Those who have managed to save a little get virtually no interest, so those saving for old age are actually decreasing in value.

jimjames

teddysmum wrote: »

Those who have managed to save a little get virtually no interest, so those saving for old age are actually decreasing in value.

Those who have managed to save a little get vastly more interest as a percentage than those who have saved a lot. How much interest can you get on £5k compared to £100k?

When the annual ISA allowance will be virtually the average UK wage from next year I can't see any reason why ISA allowances need to be increased as it will only benefit those who are already well off.

Ed-1

It'll be interesting to see what measures, if any, are announced to help savers since Theresa May clearly stated they were going to change the current situation at the Tory Party conference.

Thrugelmir

teddysmum wrote: »

Perhaps because they couldn't save much from a basic wage.

That's a totally different issue. Not that people in general are particularly good are managing their money well. Plenty of things seem to come before saving. Sky and mobile phones spring immediately to mind. Saving is a choice. Always has been.

bigfreddiel

2010 wrote: »

Probably no limit on the amount each year into cash ISA but the rates are and will remain crap.

Some talk that Carneys about to to jump before being pushed, which won`t be a bad thing.

As I said in a previous thread, Carney was a scaremongering loser. Everyone jumped on that, but it looks like I was right. Losers quit, winners don't

fj

bowlhead99

bigfreddiel wrote: »

As I said in a previous thread, Carney was a scaremongering loser. Everyone jumped on that, but it looks like I was right. Losers quit, winners don't

fj

We jumped on that because Carney was correctly doing the job of a central bank governor, whose duty it is to inform government of potential economic headwinds, when he put in one of his reports that the vast majority of credible economists said that GDP would fall over the coming years as a consequence of a No vote.

Some pro-brexit MPs said he should have censored his report, and been silent on what might happen, because nobody likes to hear what advisors say if the advisors don't say what you want them to say, and they felt that hearing about the projected negative economic consequences from further credible sources could sway the vote against their side. You called him a scaremonger, because you did not want to hear what he was saying either, but your position is wrong - he was not unnecessarily causing trouble. He was doing what he should.

Carney has not indicated that he will leave his position any earlier than his five year contractual terms. He has repeatedly stressed that he will continue to fulfil that commitment. It doesn't stop Daily Mail running a headline "Carney could quit within DAYS!!!!!", because they and other media outlets thrive on sensationalism.

He mentioned in the Lords this week that the question of him staying until 2018 or to go on to the maximum term of eight years 'til 2021 as provided by the agreed option in his contract would be a personal position for him to consider within the context of his personal circumstances as "the role demands total attention" and that he intends to give it as long as he can.

You can see from the market movements immediately thereafter than the markets took his comments as an indication that he would stay on - the pound fell before his testimony and then recovered when the markets heard his comments.

Meanwhile, Brexiters thought it meant he would leave, because they love to massage their own egos and would see it as some sort of 'win' for them. They are quite happy with the additional disruption that an earlier-than-2018 change of central banker would cause in the markets - you and posters such as "2010" think it would be "no bad thing". But there's no point telling you things you don't want to hear, as we will only be castigated as 'doom mongers' if we do, so discussions on this topic here are unlikely to be worth reading. Or writing, for that matter

Glen_Clark

bigfreddiel wrote: »

As I said in a previous thread, Carney was a scaremongering loser. Everyone jumped on that, but it looks like I was right. Losers quit, winners don't

fj

We are paying Carney £700k a year, £3k housing allowance, plus expenses. We are the losers.

veryintrigued

bowlhead99 wrote: »

Meanwhile, Brexiters thought it meant he would leave, because they love to massage their own egos....

Bowlhead - I frequently look forward to reading your replies. Maybe censor your future ones (like Carney didn't) such that you don't come across as someone generalising that 'all Brexiteers are fools' sort of post.

They aren't and neither are all Remainers.

Glen_Clark

With the crash in the pound they might have to raise interest rates to rein in inflation. In which case they will present it as 'help for savers'.

bowlhead99

veryintrigued wrote: »

Bowlhead - I frequently look forward to reading your replies. Maybe censor your future ones (like Carney didn't) such that you don't come across as someone generalising that 'all Brexiteers are fools' sort of post.

They aren't and neither are all Remainers.

Point taken. They are not all fools and I count plenty of them in my friends and family.

However, it has generally been the brexit fans who have been critical of Carney's actions pre- and post-referendum, and it has specifically been the brexiters who are picking up on Carney's comments and reading them as being a hint he is going to leave early, which coincidentally is what they would like, while the markets in general appear to believe that he is not being forced out early.