Rates.... wil they wont they?

poppy10_2

Running_Horse wrote: »

Great. Inflation soars. My company gives me a pay rise. My mortgage overpayments have even more effect. Long term, my mortgage is a smaller percentage of my income.

Not for those who work in the public sector. Teachers, nurses, doctors and police have all been awarded pay rises well below inflation for next year, resulting a pay cut in real terms.

The govt is penalizing those who work hard and rewarding those who splurge out on debt.

wolvoman

poppy10 wrote: »

Not for those who work in the public sector. Teachers, nurses, doctors and police have all been awarded pay rises well below inflation for next year, resulting a pay cut in real terms.

The govt is penalizing those who work hard and rewarding those who splurge out on debt.

Let me just highlight the oxymoron there

ivegotabig1

chriseast wrote: »

It will still be 2% - they will simply adjust the way it is measured;) It's going to worked out using the price of bulls**t in future.

Agreed.. its a sad state when one has to consider these figures with an unhealthy dose of Suspicion !!

sm9ai

Its a very interesting decision. Personally it sounds like they have bottled it and bowed to media pressure. Not very independant. It will be very interesting to read the minutes thats for sure!

However one other more important note. An idiotic .25% cut in 2005 resulted in a raise by 1.25%. So the chances are this could well lead to higher rates in the near future.

Running_Horse

poppy10 wrote: »

Not for those who work in the public sector. Teachers, nurses, doctors and police have all been awarded pay rises well below inflation for next year, resulting a pay cut in real terms.

The govt is penalizing those who work hard and rewarding those who splurge out on debt.

People in the public sector enjoy other benefits, such as decent pensions, wages for doctors, holidays for teachers, flexitime for council staff, and levels of sickness that would not be tolerated in the real world. Its swings and roundabouts.

Gorgeous_George

I think they should have reduced earlier and by a greater amount. Another cut will follow in January/February IMO.

The strong pound impacts exports. High mortgage rates limit customer spending. Neither of these are good for UK PLC.

The decision was completely right and wholly expected.

I have two BofE BR trackers so will save a bob or two on mortgages which I can spend on the higher prices that may come our way. The effect will be minimal. I'll look for a fixed rate when/if they fall to 4% again.



GG

poppy10_2

wolvoman wrote: »

Let me just highlight the oxymoron there

What oxmoron? Do you not think nurses work hard enough for you?

Gorgeous_George

Running_Horse wrote: »

People in the public sector enjoy other benefits, such as decent pensions, wages for doctors, holidays for teachers, flexitime for council staff, and levels of sickness that would not be tolerated in the real world. Its swings and roundabouts.

decent pensions? 1/80th for every year worked is less than my friends.
only some doctors are overpaid
agree about teachers
flexitime benefits the company as much as the individual
sickness is closely monitored and abusers are quickly identified

wages are poor compared to market standards. Most vacancies take months to fill.

GG

epz_2

Gorgeous_George wrote: »

decent pensions? 1/80th for every year worked is less than my friends.
only some doctors are overpaid
agree about teachers
flexitime benefits the company as much as the individual
sickness is closely monitored and abusers are quickly identified

wages are poor compared to market standards. Most vacancies take months to fill.

GG

you must work in a different public sector too my mates regularly take sick days and have had more than i have had holidays, i dont see why they dont just give you a couple of paid ones and you get sod all like most others in the reall world.

as far as i can see most public services add little value, most of the stuff they do could be outsourced to the private sector and be done cheaper and better.

WTF?_2

Gorgeous_George wrote: »

I have two BofE BR trackers so will save a bob or two on mortgages which I can spend on the higher prices that may come our way. The effect will be minimal. I'll look for a fixed rate when/if they fall to 4% again.



GG

How wonderful that your reduced debt repayment might offset some of the effects of the inflation caused as a result of the cut, for you.

Not so great for people who have been prudent enough not to put themselves into debt as they see the interest on their savings lessen and the real value of them eroded away. Or for those struggling to stay in the black who'll see their disposable income drop as a result of inflation.