Cost of living squeeze in 2022

[Welshbeef]

tighnamara said:

If Maggie and Nigel Lawson hadn’t sold off the countries majority share in Britoil back in the 80,s things could have been a lot different.

Norway and their state owned company Equinor (previously Statoil & Norsk Hydro) has shown what we could have had in the U.K, but Maggie and the conservative crew had other ideas.

All hindsight off course but just another major inept decision from government.

If they hadn’t then our tax from then to now would have been higher - none of the corporation tax , have to fund the investment (which wouldn’t really have happened see NHS for example).

[Pablo16v]

tighnamara said:

oyster said:

Which part of the service would be nationalised?
1. The consumer energy companies? They keep going bust - they’re definitely not making profit. A state owned one would still be buying electricity from the market at or near the price cap. If you then want to sell energy on to the public at 2021 prices then how would you subsidise it? Which taxes would rise? Which services would be cut to find the spare 40bn odd?

Option 2. Nationalise the upstream energy companies. Those who extract at source. Where would you find the cash to buy the assets of production. Assets which are currently very valuable because of wholesale energy prices. This option would also need tens of billions of pounds. Which taxes would rise? Which services would be cut?

If Maggie and Nigel Lawson hadn’t sold off the countries majority share in Britoil back in the 80,s things could have been a lot different.

Norway and their state owned company Equinor (previously Statoil & Norsk Hydro) has shown what we could have had in the U.K, but Maggie and the conservative crew had other ideas.

All hindsight off course but just another major inept decision from government.

I think it’s important to note that there was a global oil price crisis in 1986 following years of decline and the govt was liable for some huge losses so opted for a different revenue model based on taxation. It seemed a sensible and prudent decision at the time based on the historic oil price data, and I am sure successive govts have enjoyed high tax revenues during subsequent boom years. What they actually did with that money is a mystery though.

[Welshbeef]

Pablo16v said:

I think it’s important to note that there was a global oil price crisis in 1986 following years of decline and the govt was liable for some huge losses so opted for a different revenue model based on taxation. It seemed a sensible and prudent decision at the time based on the historic oil price data, and I am sure successive govts have enjoyed high tax revenues during subsequent boom years. What they actually did with that money is a mystery though.

Not give tax rises basically.

[Downward]

emicen said:

Saw an article earlier that Spain are going big on energy reduction in the public sector. Civil servants will be told to use less aircon with offices to be set no lower than 27 Celsius this summer.

I would be in my underpants with my feet in a basin of cold water at that temperature

I swear the amount of energy used to heat empty offices across the PS must be £ millions.

[poo at Paul's]

V1nce Fox said:

I suspect we might see genuine civil unrest over this.

Not so sure, the normal "civil unrest" mob dont pay bills and stuff, their mum and dad do.

[Armchair_Expert]

Welshbeef said:

I wonder what impact to energy prices cutting off Russian oil and Gas by the end of 2022 will mean - am guessing it will not mean a reduction rather an increase.

Lewis also went onto say that the price is predicted to fall post April 2023, so the end was in sight - it was going to be 6 months of pain.

Out of interest I have noticed there seems to be an awful lot of hate for Martin Lewis, my mortgage advisor was slating him last year and I notice a lot of eye rolling and huffing / puffing from people in finance when he is mentioned. It seems to me he has worked hard and is a real ambassador for the people, or is he just a con man and I am the mug? Why the hate?

[poo at Paul's]

Earthdweller said:

m3jappa said:

Did i see an article flash up on my phone (that i now cant find) that rishi has another new 'package'

I dread to imagine what that might be something along the lines of 'turn your heating off from october to march and we will give you 100 in mcdonalds vouchers'

Big announcement apparently… same time as sue grey report is published

Pure coincidence I think

Dont worry, there will be nothing there for anyone but the great unwashed. At least doing it later in the day / evening, there is a chance a few of them will be up.

[ARHarh]

poo at Paul's said:

V1nce Fox said:

I suspect we might see genuine civil unrest over this.

Not so sure, the normal "civil unrest" mob dont pay bills and stuff, their mum and dad do.

Normal people wont be able to afford the petrol to get to the protests.

[tighnamara]

Welshbeef said:

tighnamara said:

If Maggie and Nigel Lawson hadn’t sold off the countries majority share in Britoil back in the 80,s things could have been a lot different.

Norway and their state owned company Equinor (previously Statoil & Norsk Hydro) has shown what we could have had in the U.K, but Maggie and the conservative crew had other ideas.

All hindsight off course but just another major inept decision from government.

If they hadn’t then our tax from then to now would have been higher - none of the corporation tax , have to fund the investment (which wouldn’t really have happened see NHS for example).

NHS is totally different " investment beast", there is no commodity to sell.

Edited by tighnamara on Wednesday 25th May 09:51

[m3jappa]

Jim the Sunderer said:

He has some bloody convoluted crackpot ideas.

Stanford, my arse.

I have no doubt it will be a totally pointless exercise.

Let’s leave the obvious stuff like all the green taxes that are bumping it up by something like 20% and let’s lend the poorest another £200 to be paid back over the next 8 years.
Oh and we could also have something like no vat and free floor mats on brand new electric cars, that should help those suffering the highest fuel costs.

I don’t think any government except this one has been so delusional ever?

[xeny]

m3jappa said:

Let’s leave the obvious stuff like all the green taxes that are bumping it up by something like 20%

7.8% according to https://fullfact.org/economy/green-levies/

[pghstochaj]

xeny said:

m3jappa said:

Let’s leave the obvious stuff like all the green taxes that are bumping it up by something like 20%

7.8% according to https://fullfact.org/economy/green-levies/

Those nasty green taxes that provide installed capacity that will eventually disconnect us from fluctuations in gas prices?

[carreauchompeur]

Armchair_Expert said:

Lewis also went onto say that the price is predicted to fall post April 2023, so the end was in sight - it was going to be 6 months of pain.

Out of interest I have noticed there seems to be an awful lot of hate for Martin Lewis, my mortgage advisor was slating him last year and I notice a lot of eye rolling and huffing / puffing from people in finance when he is mentioned. It seems to me he has worked hard and is a real ambassador for the people, or is he just a con man and I am the mug? Why the hate?

I’d imagine the same is felt towards anyone who de-mystifies a sector, to the slight detriment of professionals who make good money from doing so.

[xeny]

pghstochaj said:

Those nasty green taxes that provide installed capacity that will eventually disconnect us from fluctuations in gas prices?

I've no issue with them, but I do wonder what will eventually disconnect us from fluctuations in solar flux and wind speed as every time I try and calculate the amount of storage required I get a scarily large number.

[m3jappa]

pghstochaj said:

Those nasty green taxes that provide installed capacity that will eventually disconnect us from fluctuations in gas prices?

I thought it was higher than 7.8% tbh but there we go.

And yes stop them for now……until the wholesale gas price drops, which I understand will.

[pghstochaj]

xeny said:

I've no issue with them, but I do wonder what will eventually disconnect us from fluctuations in solar flux and wind speed as every time I try and calculate the amount of storage required I get a scarily large number.

If nothing else, for now, it reduces the annual consumption of gas. This is a positive thing. We have plenty of peaking capacity to make storing the renewable electricity unnecessarily right now and it therefore just offsets the requirement for gas generated electricity.

[pghstochaj]

m3jappa said:

pghstochaj said:

Those nasty green taxes that provide installed capacity that will eventually disconnect us from fluctuations in gas prices?

I thought it was higher than 7.8% tbh but there we go.

And yes stop them for now……until the wholesale gas price drops, which I understand will.

I am not sure what industry you are in. However, due to the size and cost of power projects, the power sector works on investment periods of around 3 to
5 to 10 years. If you suddenly remove investment and commitment to the renewable sector then you destroy confidence and investment will not easily return. It happened to the PFI funded energy from waste projects (it killed several companies over night and wasted tens of millions of project development) and it absolutely devastated the domestic solar industry and large scale solar when unforeseen changes took place to ROCs and FiT. People seem to forget this - private investment and private industry cannot just cope with the whim of the government changing, it needs certainty and long term planning.

One of the sister projects to the one I was building missed the ROC deadline for biomass and has not run since. c. £200M of investment into a power station which is unable to run as it lost access to the subsidy required. This kills the industry.

[PRTVR]

pghstochaj said:

m3jappa said:

pghstochaj said:

Those nasty green taxes that provide installed capacity that will eventually disconnect us from fluctuations in gas prices?

I thought it was higher than 7.8% tbh but there we go.

And yes stop them for now……until the wholesale gas price drops, which I understand will.

I am not sure what industry you are in. However, due to the size and cost of power projects, the power sector works on investment periods of around 3 to
5 to 10 years. If you suddenly remove investment and commitment to the renewable sector then you destroy confidence and investment will not easily return. It happened to the PFI funded energy from waste projects (it killed several companies over night and wasted tens of millions of project development) and it absolutely devastated the domestic solar industry and large scale solar when unforeseen changes took place to ROCs and FiT. People seem to forget this - private investment and private industry cannot just cope with the whim of the government changing, it needs certainty and long term planning.

One of the sister projects to the one I was building missed the ROC deadline for biomass and has not run since. c. 200M of investment into a power station which is unable to run as it lost access to the subsidy required. This kills the industry.

My understanding was that government schemes like ROC were designed to kick-start the renewable sector, not be a permanent option, can not the generation companies stand alone and still make a profit?

[Welshbeef]

Armchair_Expert said:

Welshbeef said:

I wonder what impact to energy prices cutting off Russian oil and Gas by the end of 2022 will mean - am guessing it will not mean a reduction rather an increase.

Lewis also went onto say that the price is predicted to fall post April 2023, so the end was in sight - it was going to be 6 months of pain.

Out of interest I have noticed there seems to be an awful lot of hate for Martin Lewis, my mortgage advisor was slating him last year and I notice a lot of eye rolling and huffing / puffing from people in finance when he is mentioned. It seems to me he has worked hard and is a real ambassador for the people, or is he just a con man and I am the mug? Why the hate?

For someone who has without question helped so many people reduce costs get more for less not be ripped off challenge and shop around and get the benefits and rights due and challenge govt with locked into mortgages I’d say it’s hard to not think he has done a great deal to so many.

In many ways he is giving people the education in finances that is so lacking.

I can see why say mortgage brokers etc are not happy as it is then they who lose out

[worsy]

Welshbeef said:

Armchair_Expert said:

Welshbeef said:

I wonder what impact to energy prices cutting off Russian oil and Gas by the end of 2022 will mean - am guessing it will not mean a reduction rather an increase.

Lewis also went onto say that the price is predicted to fall post April 2023, so the end was in sight - it was going to be 6 months of pain.

Out of interest I have noticed there seems to be an awful lot of hate for Martin Lewis, my mortgage advisor was slating him last year and I notice a lot of eye rolling and huffing / puffing from people in finance when he is mentioned. It seems to me he has worked hard and is a real ambassador for the people, or is he just a con man and I am the mug? Why the hate?

For someone who has without question helped so many people reduce costs get more for less not be ripped off challenge and shop around and get the benefits and rights due and challenge govt with locked into mortgages I’d say it’s hard to not think he has done a great deal to so many.

In many ways he is giving people the education in finances that is so lacking.

I can see why say mortgage brokers etc are not happy as it is then they who lose out

I'm not a huge fan, only because he is a master of pointing out the bleeding obvious. However i also recognise it might not be bleeding obvious to many.