Saving the Nation's £GBP Pound Currency & the Energy Crisis

edited 28 September at 8:58PM in Savings & Investments
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bery_451bery_451 Forumite
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edited 28 September at 8:58PM in Savings & Investments
Hi,

I do not mean saving £ pounds in a savings account.

What I mean is Inflation that is devaluing the £ resulting in prices everywhere going higher especially energy such as gas/electric/petrol. Save it from Devaluing/Collapsing.

What I don't understand is TV News and Government says all of a sudden there's a shortage of HGV drivers needed to deliver the petrol to the petrol stations even though if you look at other sectors in the supply chain logistics lets say McDonalds for example. How are the 1000 Mcdonalds in the UK still getting their burgers and buns and fries supplies from lorry deliveries? Why there's no shortage of lorry drivers for Mcdonalds because I'm still able to get my big mac meal  :*

I don't think its a coincidence that smaller energy companies are going bankrupt at the same time as this petrol crisis when these energy companies cant even afford the gas/electric energy to resell to us due to inflation.

If Bank of England prints more money and borrows it to the Government at low interest rates so Government can bail out energy companies going bust then wont this make the matter more worse causing more inflation and make prices go even more higher. :o?

I understand a Supply chain crisis meaning low supply = higher prices, basic economics however there are no lockdowns and people are going back to work so what's causing this so called supply crisis.

Or is it out of control inflation that the Government is trying to hide from the Public? 
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Replies

  • ThrugelmirThrugelmir Forumite
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    bery_451 said:


    What I mean is Inflation that is devaluing the £ resulting in prices everywhere going higher especially energy such as gas/electric/petrol. Save it from Devaluing/Collapsing.


    Not unique to the UK. When Central Banks are all following similar policies the status quo is maintained. 
    It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." — George Soros
  • MK62MK62 Forumite
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    jimjames said:
    There has been a lack of drivers for many years but the "all of a sudden" event that is causing tipping point would appear to be Brexit. If not then fixing the problem by relaxing Brexit rules seems odd.
    Brexit has played a part, but so has the preBrexit import of lower cost EU drivers.......and Covid has undoubtedly played a part too. It seems industry, in general, has eventually been caught with it's trousers down......they knew for years Brexit was coming, and a lot of the lower cost EU drivers would no longer be available......but by the time they woke up, Covid was here to slam the brakes ( ;) ) on their plans by suspending all the HGV driver tests........so, loss of existing drivers, and loss of ability to replace them = driver shortage.
    Fixing the immediate problem by temporarily relaxing Brexit rules would seem to be a reasonable approach, if practical......nobody would argue that it's not a sticking plaster, but sometimes needs must.

  • MK62MK62 Forumite
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    I'd suggest that the word to replace above is "industry" with "government." No-one knew until a few days before the end of 2020 what form Brexit would take
    The finer details perhaps, but the main points were well known....they said it often enough.
    The government had the option to stagger the implementation over a period of time to allow business to adapt but refused to do so which in the middle of a global pandemic seems an exceptionally reckless choice. Despite saying how ready they were, the government have yet again delayed implementation of customs checks,

    So, they did stagger the implementation......

    The government knew we were in a pandemic and HGV tests had been stopped but took no action despite all the warnings from industry. You can't blame the industry for being shafted by government.

    ....and what action should they have taken? Driving tests were suspended under advice from public health authorities - should they have ignored that?.....not sure the examiners would have been too happy with that.....or the instructors (as few candidates are ready to take the test without training)

    There were various posts in the last few weeks from lorry drivers explaining why it's seen as such an unfavourable job in the UK compared to elsewhere in Europe, the vast majority of the reasons were things that only government can fix. Individual hauliers cannot create well equipped rest stops around the country, they can't make motorway services available to lorries at low cost, these are national issues the government has to handle.

    ....in what I read, the biggest concern was pay and hours, and the influx of lower cost EU workers. Brexit fixed that.....admittedly, there were other concerns too, rest stops etc

    Nobody has ever said that Brexit would fix everything.....it won't.....but in free market economies the government cannot control everything and isn't to blame for everything that goes wrong.......I don't see any 15yr old super truck stops opened under the last (Labour) government, but I don't particularly cast blame on that government either.

    But it's not just HGV drivers, the job vacancies are across the board and if the pay rates increase to fill those roles then it will have a knock on effect across the economy and inflation will be the result. Any situation where you reduce supply with constant demand will lead to price increases.

    True enough, but I don't see your point......would staying in the EU have improved the job prospects of British HGV drivers?

  • MK62MK62 Forumite
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    Are you saying you did not know that we would be taking back control of our borders, money and laws?.... ;)
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