So weve all sat and listened whats next year going to bring?
Discussion
Ive been in buisness over 25yrs I like all understand the credit crunch and its reasons for being and the reccesion ect ect.
If we simply say the government is broke the people are broke and many buisnesses are broke or nearly! Oh and weve got no gold left,Then I need some enlightenment for my next financial year, onwards and upwards LOL,We cannot get credit anymore for most our clients,most peoples existing lines of credit both personal and buisiness have been slashed or cancelled,house prices down,fuel up,VAT up,buisiness rates up,pension contributions up,pension payouts down,interest from savings gone,student loans up,engery prices doubled,child benifit phased out,the list goes on if its bad now what will it be like next year when the austerity measures kick in? Ive left out many of the stealth taxes imposed on buisiness paricularly in my line of work, but will mention one or two the fact that motor dealers can no longer get a refund of a tax disc on any of our cars,IMO that is theft of our money as we often take the value into the deal as the client insists, a local main dealer to me for example is loosing 35k a year just on that alone,also our consumer credit licence is now on aplication up near the £1000 mark Id be interested in any other stealth taxes particular to your buisnesses we may not know about.
I really am hoping for some positive response chaps!
G
If we simply say the government is broke the people are broke and many buisnesses are broke or nearly! Oh and weve got no gold left,Then I need some enlightenment for my next financial year, onwards and upwards LOL,We cannot get credit anymore for most our clients,most peoples existing lines of credit both personal and buisiness have been slashed or cancelled,house prices down,fuel up,VAT up,buisiness rates up,pension contributions up,pension payouts down,interest from savings gone,student loans up,engery prices doubled,child benifit phased out,the list goes on if its bad now what will it be like next year when the austerity measures kick in? Ive left out many of the stealth taxes imposed on buisiness paricularly in my line of work, but will mention one or two the fact that motor dealers can no longer get a refund of a tax disc on any of our cars,IMO that is theft of our money as we often take the value into the deal as the client insists, a local main dealer to me for example is loosing 35k a year just on that alone,also our consumer credit licence is now on aplication up near the £1000 mark Id be interested in any other stealth taxes particular to your buisnesses we may not know about.
I really am hoping for some positive response chaps!
G
Edited by Gary11 on Sunday 10th October 11:20
Edited by Gary11 on Sunday 10th October 12:06
Edited by Gary11 on Sunday 10th October 14:22
I feel very similar to Musclecarmad. I've run my own business since the age of 19 and im now 32 and My gut feeling is that next year we are going to see the true recession.
I was only saying yesterday that I wish labour were still in power so finally the inept of this country will realise what they have done, instead I think a most people will blame the lib/con government for what is coming.
House prices are clearly massively over valued. IMO we are heading for a 20% to 30% reduction across the board. I also think that we will soon have another car price collapse that will coincide with the property crash but this time prices will not recover. How the hell are so many people running £40000+ vehicles with their associated running costs?
Where are the new jobs going to come from ? This country lives off the service sector ! We do not make anything here now , how are we going to get out of this mess??
I was only saying yesterday that I wish labour were still in power so finally the inept of this country will realise what they have done, instead I think a most people will blame the lib/con government for what is coming.
House prices are clearly massively over valued. IMO we are heading for a 20% to 30% reduction across the board. I also think that we will soon have another car price collapse that will coincide with the property crash but this time prices will not recover. How the hell are so many people running £40000+ vehicles with their associated running costs?
Where are the new jobs going to come from ? This country lives off the service sector ! We do not make anything here now , how are we going to get out of this mess??
Edited by Chipper on Sunday 10th October 12:46
All the trades are quietly s
tting themselves about what's to come for the end of Jan.
It's usually quiet but the general anticipation is much bleakness for that period next year.
So if you're considering doing work on your home and have cash waiting and can wait, I'd wait until about then.
tting themselves about what's to come for the end of Jan.It's usually quiet but the general anticipation is much bleakness for that period next year.
So if you're considering doing work on your home and have cash waiting and can wait, I'd wait until about then.
I can't make up my mind what to do, it seems like the labour party completely screwed everyone except those that don't work.
I'm constantly being told to take on more debt and buy more property because the government won't allow massive property falls and interest rates will never go much higher than they are now.
I'm constantly being told to take on more debt and buy more property because the government won't allow massive property falls and interest rates will never go much higher than they are now.
I think the pain is only just about to start ....
Speaking to the guy we lease from, all his leasees are hanging tough, with only one or two exceptions (debt recovery is one of the boom industries
) and his own business costs have gone through the roof. One example being plastic lids for fruit packs: up from 1p to 7p in a year. 
Combined opinion is that, sadly, the recession hasn't really started yet, and once we start on laying off the 600,000 public sector (which starts now...) with no real growth in the private sector to absorb them, the knock on effects will be HUGE.
I'm really not looking forward to the next two or three years.
Speaking to the guy we lease from, all his leasees are hanging tough, with only one or two exceptions (debt recovery is one of the boom industries
) and his own business costs have gone through the roof. One example being plastic lids for fruit packs: up from 1p to 7p in a year. Combined opinion is that, sadly, the recession hasn't really started yet, and once we start on laying off the 600,000 public sector (which starts now...) with no real growth in the private sector to absorb them, the knock on effects will be HUGE.
I'm really not looking forward to the next two or three years.
Jasandjules said:
I think it's going to get worse for a year or three before it can get better. We are going to pay dearly for the self serving scum and their destruction of our country over thirteen or so years of power..
I think you are right. 13 years ago we had a million less civil servants, and survived without daily bottom inspections from them. The next couple of years will be hard, the couple after that, slightly less so. The only choice we have is 4 to 5 years pain or a generation collapsing.
musclecarmad said:
inflation is the killer everything is going up 10% in price but people's wages are static. I want to see what happens next year.
I think it will be very tough for everyone.
Personally my advice is this:
if you have a big car then sell it now, maybe not your property as we need somewhere to live but don't fritter your money away on stuff now. It is worth hoarding as much of it as you can.
Would you not be better putting it into assets rather than leaving as cash? (Assuming QE devalues sterling)I think it will be very tough for everyone.
Personally my advice is this:
if you have a big car then sell it now, maybe not your property as we need somewhere to live but don't fritter your money away on stuff now. It is worth hoarding as much of it as you can.
Chipper said:
House prices are clearly massively over valued. IMO we are heading for a 20% to 30% reduction across the board. I also think that we will soon have another car price collapse that will coincide with the property crash but this time prices will not recover. How the hell are so many people running £40000+ vehicles with their associated running costs?
House prices can't fall that far people can't afford to move with that little equity, so while the theoretical prices may be lower I suspect people will just stop selling on a whim and only sell if it is essential. I suspect the economy will become more and more stagnant as if you can't move, have had your pay frozen and your living costs go up then your discretionary spend will have to suffer. Guam said:
About 60% of our client base are businessmen at different levels of activity in the economy, I have not spoken to one in ANY area of the economy, who doesnt think first quarter next year is not going to prove to be a fiscal wasteland! 
I reckon a lot of SME's will be losing sleep as we run into the year end.
The increase in VAT will have one major effect and that will be to increase demand in the black economy, it would appear that the current treasury bods have decided the Laffa curve is a work of fiction!!
SME manufacturer of 13 years here. From 3 years ago with a lively factory and 15 staff, as from next week it'll be two of us in a small business centre office outsourcing everything under an agency arrangement. No borrowing, no overheads, no staff.I reckon a lot of SME's will be losing sleep as we run into the year end.
The increase in VAT will have one major effect and that will be to increase demand in the black economy, it would appear that the current treasury bods have decided the Laffa curve is a work of fiction!!
Survival. That's the best to hope for over the next 5 years.
Edited by richardxjr on Monday 11th October 10:02
Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff