Autumn statement - help for savers?

Thrugelmir

bowlhead99 wrote: »

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.

King was very much a Brown man. Carney was employed by Osborne. Senior positions require good working relationships as you yourself should know. Times change and with it the guard. 2018 isn't far away in terms of the recruitment process starting.

nbrewitt

Possibly an increase in the amount that can be invested in Premium Bonds but I won't hold my breath. More likely to be something like another form of Investment Bond via NS&I.

Freecall

Surely in the run-up to Brexit (and in a post Brexit world) the last thing the economy needs is savers.

I would have thought it far more likely that Hammond will set out a programme for public investmement in infrastructure projects and the like along with incentives for private investment along the same lines.

This is not a time to encourage people to keep their wealth stashed away.

ColdIron

The thread is based on TM's conference speech

People with assets have got richer. People without them have suffered. People with mortgages have found their debts cheaper. People with savings have found themselves poorer.

A change has got to come. And we are going to deliver it.

How this will manifest itself remains to be seen but she has clearly set an expectation

Glen_Clark

ColdIron wrote: »

The thread is based on TM's conference speech

People with assets have got richer. People without them have suffered. People with mortgages have found their debts cheaper. People with savings have found themselves poorer.

A change has got to come. And we are going to deliver it.

How this will manifest itself remains to be seen but she has clearly set an expectation

You have to go by what they do, not what they say, because they all say things like that. It reminds me of Thatchers speech on the steps of 10 Downing Street in 1979. She actually quoted St Francis of Assisi 'Where there is discord may we bring harmony' :rotfl:

badger09

I've just heard on BBC news that Carney will remain in post until 2019 (1 year longer than contracted?)

Glen_Clark

badger09 wrote: »

I've just heard on BBC news that Carney will remain in post until 2019 (1 year longer than contracted?)

Carney doesn't have any better opportunities now similar positions elsewhere have already been filled.

Rich2808

I think you all must have worked out by now the Government and the Bank of England do not want people to save money in cash any more - you must borrow and spend spend spend, buy buy to let properties and invest in the stock market to promote the asset bubble.

Saving is of benefit in the future - but no use to short termist Governments or bankers today to promote GDP growth and more debt. Cos if we dont create more debt each year there is no growth.

And under Carney's watch this will just be promoted even more untll at least 2019.

Saying that there may be some sort of infrastructure bond to fund investment in housing, transport etc - but its not clear how risky it might be.

Making Britain work for everyone and a fairer place for everyone:rotfl::rotfl:

jimjames

Rich2808 wrote: »

I think you all must have worked out by now the Government and the Bank of England do not want people to save money in cash any more - you must borrow and spend spend spend, buy buy to let properties and invest in the stock market to promote the asset bubble.

If you want to save in cash then you've been able to do so with rates up to 10x the inflation rate for several years. If you want to save more cash that than allows then yes it's probably not encouraged but for most people having some investments would be better than holding all cash anyway.

I'm also not quite sure how you define a bubble? Houses may be expensive compared to long term trends but the UK stock market isn't.

themanfromamarillo

Two ways for the government to raise rates in the short term,

1. Fiscal stimulus to boost growth and allow the BoE space to raise rates

2. Government subsidies for savers

1. is politically hard since the Conservatives' main policy play for 8 years has been auserity. 2. Is economically daft but might happen given the government love to subsidise pensioners as they are reliable Tory voters so perhaps another pensioner bond system