New Energy Price Guarantee impact on State Pension increase 2023?

scobie

People are forgetting that EPG is to stop power prices and inflation rising too much. They’re still going to rise in a October, not fall. 

Which means that inflation is likely to rise too, albeit not hopefully to the 18-22% figures bandied around for 2023 by some commentators.  

molerat

scobie said:

People are forgetting that EPG is to stop power prices and inflation rising too much. They’re still going to rise in a October, not fall. 

Which means that inflation is likely to rise too, albeit not hopefully to the 18-22% figures bandied around for 2023 by some commentators.  

Yes, all it is going to do is slow the rate of the rise and hopefully reduce the peak.  It can have no effect on the September figure as nothing will have changed during the period being assessed.

MACKEM99

Merlin139 said:

dealyboy said:

I was thinking that there has been a lot of talk about state pensioners getting a 10% + increase whereas the working population are getting 5-7%, if they're lucky (probably the wrong term). It might just ease the tension a bit with the unions if state pensioners were seen to be in line.

A useful political expedient?

10% increase on £9630 is a hell of a lot less than 5-7% on £25000 to £40000

Plus of course there are many on a lot less than £9630.

MX5huggy

MACKEM99 said:

Merlin139 said:

dealyboy said:

I was thinking that there has been a lot of talk about state pensioners getting a 10% + increase whereas the working population are getting 5-7%, if they're lucky (probably the wrong term). It might just ease the tension a bit with the unions if state pensioners were seen to be in line.

A useful political expedient?

10% increase on £9630 is a hell of a lot less than 5-7% on £25000 to £40000

Plus of course there are many on a lot less than £9630.

And many on more, mum is probably looking at being dragged back into higher rate tax by the CPI on her SP, 40 year NHS and late husbands LGPS CPI increases. But Liz has her back with her proposal to raise the threshold to £80k. 

dealyboy

BTW I as a state pensioner hope Liz is not reading this thread. We don't want to be giving her any ideas! 

Dazed_and_C0nfused

MX5huggy said:

MACKEM99 said:

Merlin139 said:

dealyboy said:

I was thinking that there has been a lot of talk about state pensioners getting a 10% + increase whereas the working population are getting 5-7%, if they're lucky (probably the wrong term). It might just ease the tension a bit with the unions if state pensioners were seen to be in line.

A useful political expedient?

10% increase on £9630 is a hell of a lot less than 5-7% on £25000 to £40000

Plus of course there are many on a lot less than £9630.

And many on more, mum is probably looking at being dragged back into higher rate tax by the CPI on her SP, 40 year NHS and late husbands LGPS CPI increases. But Liz has her back with her proposal to raise the threshold to £80k. 

Got to say if that were to actually happen if would be utter madness!

MX5huggy

Dazed_and_C0nfused said:

MX5huggy said:

MACKEM99 said:

Merlin139 said:

dealyboy said:

I was thinking that there has been a lot of talk about state pensioners getting a 10% + increase whereas the working population are getting 5-7%, if they're lucky (probably the wrong term). It might just ease the tension a bit with the unions if state pensioners were seen to be in line.

A useful political expedient?

10% increase on £9630 is a hell of a lot less than 5-7% on £25000 to £40000

Plus of course there are many on a lot less than £9630.

And many on more, mum is probably looking at being dragged back into higher rate tax by the CPI on her SP, 40 year NHS and late husbands LGPS CPI increases. But Liz has her back with her proposal to raise the threshold to £80k. 

Got to say if that were to actually happen if would be utter madness!

But regular workers such as MP’s should not be paying 40% tax. 😜

sevenhills

If pensioners get CPI inflation and £400/£600 they are getting an over inflation increase.
They should count their blessings, if it happens.

double_dutchy

Merlin139 said:

I am betting that whatever CPI rises to in Aug (announced 07:00 on 20th September) it will go down for the Sept CPI rate (announced 07:00 18th October) Both release dates provisional. 

Those are the 2023 dates. The August release for 2022 is next week, Wednesday 14 Sept 2022, and the September release is on Wednesday 19 October 2022

Merlin139

double_dutchy said:

Merlin139 said:

I am betting that whatever CPI rises to in Aug (announced 07:00 on 20th September) it will go down for the Sept CPI rate (announced 07:00 18th October) Both release dates provisional. 

Those are the 2023 dates. The August release for 2022 is next week, Wednesday 14 Sept 2022, and the September release is on Wednesday 19 October 2022

I did wonder when I was reading 14 Sept 2022 on one page and 20 Sept 2022 on the other page. Too much of a hurry to get something else done before I had to go out. Thanks for pointing it out.