Cost of living squeeze in 2022
Discussion
Energy costs going up, fuel costs going up, food costs going up, inflation increasing, tax rises.
Brits face 'cost of living catastrophe': Families will be hit by a year of soaring bills, tax rises, less spending power and the highest inflation for 30 years in 2022 leaving average household £1,200 WORSE OFF, report warns
UK households warned of ‘year of the squeeze’ as cost of living soars
Roughly 1 in 4 have no savings and I doubt most people are likely to see a 5% pay increase or anything close to being in line with where inflation is right now.
Not that there is a good year to be poor but it doesn't look like 2022 will be a good one financially for a lot of households.
Brits face 'cost of living catastrophe': Families will be hit by a year of soaring bills, tax rises, less spending power and the highest inflation for 30 years in 2022 leaving average household £1,200 WORSE OFF, report warns
UK households warned of ‘year of the squeeze’ as cost of living soars
Roughly 1 in 4 have no savings and I doubt most people are likely to see a 5% pay increase or anything close to being in line with where inflation is right now.
Not that there is a good year to be poor but it doesn't look like 2022 will be a good one financially for a lot of households.
I guess the half a trillion we’ve printed wasn’t from the magic money tree after all?
I won’t turn it into another Covid thread, but I have little sympathy for people cheering for lockdowns and restrictions whilst thinking there would be no consequences simply because we put the bill on the countries credit card.
I won’t turn it into another Covid thread, but I have little sympathy for people cheering for lockdowns and restrictions whilst thinking there would be no consequences simply because we put the bill on the countries credit card.
HappyClappy said:
Shock horror.
Who would have thought that shutting down the country for the best part of 2 years, to save us from a virus with 99% survival rate, would cause this amount of economic uncertainty.
No uncertainty at all. Almost everyone who isn't a fantasy communist said "printing money will cause inflation; shutting down the country will cause inflation"Who would have thought that shutting down the country for the best part of 2 years, to save us from a virus with 99% survival rate, would cause this amount of economic uncertainty.
mattyprice4004 said:
I did wonder about this myself - I’ve seen the cost of daily necessities going up exponentially lately.
Since when is fuel £1.50 a litre, yet no one is kicking off (or making any noise at all…) about it?
We had the manufactured fuel crisis. Since when is fuel £1.50 a litre, yet no one is kicking off (or making any noise at all…) about it?
People spent a week or so queuing up at the pumps and now seem willing to pay anything.
Inflation without wage inflation is the issue, it condenses wealth at the top and compresses wage ranges at the bottom (minimum wage rises but those at next level get nothing).
Tax rises are to keep the spending going not actually to improve outcomes. An what we see in the real world is tax rises drive price inflation and hurt people at the bottom, the middle bare more of the impact by being excluded from benefits and yet are expected to be the core source of funding and the very rich simply as always are immune from this.
Tax rises are to keep the spending going not actually to improve outcomes. An what we see in the real world is tax rises drive price inflation and hurt people at the bottom, the middle bare more of the impact by being excluded from benefits and yet are expected to be the core source of funding and the very rich simply as always are immune from this.
The incredible increase in energy prices is the real crunch issue because that is both the biggest cost increase to households, but also affects every other aspect of business, production etc leading to price increases of everything and adding further to general inflation.
Add in global supply chain problems, increased costs due to Brexit etc and I can see it will be a difficult time for many.
Add in global supply chain problems, increased costs due to Brexit etc and I can see it will be a difficult time for many.
BBC and some newspapers quoting an average £100 a month increase, which seems about right for me - £50 a month on electricity and oil, tenner a week on supermarket shop, a bit of extra NI.
Some people will be facing much bigger increases I think. My outgoings are fairly low, as my mortgage is paid off, only 2 mouths to feed, only one foreign holiday a year, older cars, etc. Luckily my income, although less than the national average, is double my monthly bills. There's some slack. I'll just have to cut back a bit on the discretionary spending, or save a bit less.
Seems to me that it's better than 30-odd years ago though, when interest rates and inflation went mental. I think we've just been "spoiled" by a decade of stability.
Some people will be facing much bigger increases I think. My outgoings are fairly low, as my mortgage is paid off, only 2 mouths to feed, only one foreign holiday a year, older cars, etc. Luckily my income, although less than the national average, is double my monthly bills. There's some slack. I'll just have to cut back a bit on the discretionary spending, or save a bit less.
Seems to me that it's better than 30-odd years ago though, when interest rates and inflation went mental. I think we've just been "spoiled" by a decade of stability.
mattyprice4004 said:
Since when is fuel £1.50 a litre, yet no one is kicking off (or making any noise at all…) about it?
I honestly can't think of another Western country where, by and large, the general population are so meek and unwilling to protest as we are in the UK.The UK population are just one rung above the NK people in terms of being unthinkingly, unquestioningly subservient.
I suppose it's a result of the bulk of the UK population being little more than compliant, obedient debt slave worker drones, mainly through suppressed wage levels and rampant house price inflation for the last couple of decades.
Energy as 1 poster points out has had a huge impact but then we must ask why if we generate all this green energy why we are impacted by this. Is it because cost of generation has gone up (is wind more expensive) or is it because it's a poor energy provider and we are still reliant on oil and gas. If it's the latter and the former is not efficient why have we not secured our energy supply using either oil gas or nuclear.
Finally sooner or later we need to ask what we don't want to have the state provide, pensions, health etc. With pension I would ask the under 40s if you want it, vote get a result that says no. They then get a cut it NI day half but on the understanding there is no state pension at 67 for them. So today they are better off an have at least 27 years to make provisions for themselves.
My ideas are poor because they are 30 words but we can't go on spending and making people poorer and expect the middle to keep carrying the burden. I for one wish to leave the UK, family stops me. But you have to ask why someone born in the UK is at the point they no longer want to be here. I worked in SG I liked it thr wife did not, more an more I want to go back because something is not right in the UK.
Finally sooner or later we need to ask what we don't want to have the state provide, pensions, health etc. With pension I would ask the under 40s if you want it, vote get a result that says no. They then get a cut it NI day half but on the understanding there is no state pension at 67 for them. So today they are better off an have at least 27 years to make provisions for themselves.
My ideas are poor because they are 30 words but we can't go on spending and making people poorer and expect the middle to keep carrying the burden. I for one wish to leave the UK, family stops me. But you have to ask why someone born in the UK is at the point they no longer want to be here. I worked in SG I liked it thr wife did not, more an more I want to go back because something is not right in the UK.
clockworks said:
Seems to me that it's better than 30-odd years ago though, when interest rates and inflation went mental. I think we've just been "spoiled" by a decade of stability.
That decade of so called "stability" was only as a result of a zombie economy being kept in an induced coma thanks to unprecedented levels of QE, "emergency" interest rates and exponential rises in all forms of debt.All this money printing over the last two years has allowed the rich to get richer. This money has been put into property, watches, cars and the stock market, all of which are at all time highs.
The poor and those in low paid jobs are now suffering due to prices of everything going up due to the sheer amount of money sloshing around. Add to this the fact that property values have massively increased over the last few years and the gap between the have and have nots is growing bigger day by day.
It is almost like this whole thing has been manufactured to make the elite stupidly wealthy and the poor more beholden to their slave masters.
Slavery was apparently abolished, but the majority of people seem to be willingly walking into financial slavery without even realising they are being f
ked by the people with the money.
The poor and those in low paid jobs are now suffering due to prices of everything going up due to the sheer amount of money sloshing around. Add to this the fact that property values have massively increased over the last few years and the gap between the have and have nots is growing bigger day by day.
It is almost like this whole thing has been manufactured to make the elite stupidly wealthy and the poor more beholden to their slave masters.
Slavery was apparently abolished, but the majority of people seem to be willingly walking into financial slavery without even realising they are being f
ked by the people with the money.Edited by Joey Deacon on Wednesday 29th December 09:54
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