Do we trust the government to maintain the Energy Price Guarantee?

macman

Miser1964 said:

A large driver for the £ slumping in value is the markets fearing a loony Labour administration. 

Strange that the markets didn't have that sentiment in 2019, when there was the prospect of a somewhat more 'loony' Jeremy Corbyn leading an incoming Labour administration?
Whatever you think of Keir Starmer, no-one is ever going to successfully slate him as a radical firebrand.

ariarnia

macman said:

Miser1964 said:

A large driver for the £ slumping in value is the markets fearing a loony Labour administration. 

Strange that the markets didn't have that sentiment in 2019, when there was the prospect of a somewhat more 'loony' Jeremy Corbyn leading an incoming Labour administration?
Whatever you think of Keir Starmer, no-one is ever going to successfully slate him as a radical firebrand.

maybe the markets never believed he actually had a chance of getting in

Chrysalis

macman said:

Miser1964 said:

A large driver for the £ slumping in value is the markets fearing a loony Labour administration. 

Strange that the markets didn't have that sentiment in 2019, when there was the prospect of a somewhat more 'loony' Jeremy Corbyn leading an incoming Labour administration?
Whatever you think of Keir Starmer, no-one is ever going to successfully slate him as a radical firebrand.

Well he wasnt in power for starters, and the money was to be spent mostly on infrastructure not tax giveaways.  Plus his proposed spending wasnt nearly as high.  Not to mention the economic situation was quite different, particurly on inflation.

So all possible reasons, we will never know as he never got to power.

Corbyn's plans were actually quite closer to whats normal in other countries, England is unusual in our strong anti socialism stance.

strawb_shortcake

ariarnia said

Dolor said:

Sounds like a plan. What next a General Strike by public sector workers?

i was surprised they didn't already. when we got about 4% pay rise earlier in the year i was reading in the papers they were being capped at 2. thought the unions would have been all over that after the last few years with covid and brexit and everything they've been made to take on. might even been good if they did. maybe slow things down so the markets can stabilise a bit before the next shock announcement

A government department I work within there seems to be no appetite for strike action by the workers, in fact there is more vocal complaints about the union mainly PCS than our employer presently. 

My peers are at the point that 2% is better than nothing and the ongoing stalemate on pay. Besides which, people don't want to lose pay for strike days.

I'm not affected by the ongoing negotiations as mine was negotiated earlier in the year, but people appear to be voting with their feet, than put their fate in the hands of our employer or unions. 
Despite being one of the lucky ones and receiving a pretty good rise this year my morale has never been lower. 

GingerTim

QrizB said:

Miser1964 said:

A large driver for the £ slumping in value is the markets fearing a loony Labour administration. 

That's Daniel Hannan's opinion, but not one that's widely agreed with.

Pretty much all the financial talking heads say it's the combination of increased spending with reduced taxes.

It's certainly a 'hot take', as they say.

Miser1964

Wholesale gas prices appear to be dropping, so the the notional cost of the EPG is also falling. It would be lunacy for the Govt to drop the EPG, short of a nuclear war. 

Miser1964

Getting_greyer said:

Why U-turn the EPG when you can simply find more efficiency savings in an emaciated public sector.  

Why act when you blame LOTO, EU, Russia, Biden, the self employed, employers, Corbyn, IMF, WTO, unions, teachers, bankers, students, refugees, working people, media, Marcus Rashford, progressives, the centre-right, momentum, disabled people, poor people, wealthy people, pensioners, banks, stock markets, day traders, channel 4, remainers, the red wall, employers, Muslims, the Archbishop of Canterbury, wokery, police, gangs, the green belt, courts and many, many more? 

And if you're the SNP, add 'the English' to deflect blame for your own incompetence and corruption. 

daveyjp

Lizz Truss has said more than once today that no one will pay more than £2,500 for energy from Saturday.

 If she really thinks that is the case there will be no option than to stop funding as it will need even more of a BoE intervention to cover the shortfall.

Martin Lewis has probably by now lost all his hair reacting to her foolish statement.

tifo

daveyjp said:

Lizz Truss has said more than once today that no one will pay more than £2,500 for energy from Saturday.

It's an average £2,500. Mine is about £3,300 per year combined .....

Getting_greyer

wittynamegoeshere said:

tifo said:

daveyjp said:

Lizz Truss has said more than once today that no one will pay more than £2,500 for energy from Saturday.

It's an average £2,500. Mine is about £3,300 per year combined .....

The point above is that you know that, we do too.  But we're posting on MSE.

The PM has told the great british public that they won't pay more than £2500.  Heating on, windows open everybody, if you can afford £200-odd per month then nothing to worry about apparently, according to her at the top.

This is more embarassing than when Boris was in charge, and I didn't think that was possible.  And I voted for him, I'm not some anti-tory leftie.  Thankfully I didn't vote for what we're now lumbered with.

Absolutely right.  There's a lot of people who just see big headlines/statements. Couple this with rule of thumb thinking and you end up with conclusions that are maybe way off the mark.

Add this to the background meme that any media suggesting things that you instinctively don't like are clearly biased and fake.

Then again, maybe the misunderstanding around the EPG isn't as widespread as I'm thinking. Hopefully my personal echo chamber is not representative of the nation.