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Inflation surges
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CPI rose to 2.3% in October, back above the target rate of 2%
Key driver is the increase in energy prices (despite Miliband telling us that our bills would go down under Labour) and oddly an increase in air fares. Maybe all those people fleeing the country.
Economists expecting inflation to hit 3% next year due to NI increases and public sector pay rises.
Expect interest rates to stay high.
So we’ve got:
Higher interest rates leads to higher mortgage costs
Higher taxes
Higher prices
Lower growth
Higher unemployment
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"I don't understand how energy prices rise with all those lovely renewables we're using ?
Oh yeah, they're all subsidised to shit so actually push prices up 🤦♂️"
This whole section of the forums has lost all reason and any vague grasp on reality. |
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"I don't understand how energy prices rise with all those lovely renewables we're using ?
Oh yeah, they're all subsidised to shit so actually push prices up 🤦♂️
This whole section of the forums has lost all reason and any vague grasp on reality."
We've been asking you to educate us, obviously to no avail  |
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"Is this another example of Labour delivering again?
So if the Tories had remained in power the energy price cap would have dropped?, stayed the same?"
Presumably the Tories wouldn’t have spent the last four months talking down the country and economy and giving massive pay rises to public sector workers in return for falling productivity. |
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"Is this another example of Labour delivering again?
So if the Tories had remained in power the energy price cap would have dropped?, stayed the same?
Presumably the Tories wouldn’t have spent the last four months talking down the country and economy and giving massive pay rises to public sector workers in return for falling productivity."
Ah so just positive chat keeps inflation down 😂 |
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"Is this another example of Labour delivering again?
So if the Tories had remained in power the energy price cap would have dropped?, stayed the same?"
Tories are irrelevant they are not in government.
Labour turning out as bad, if not worse, we will see |
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By *lex46TV/TS 3 days ago
Near Wells |
If you think inflation is bad now, wait until The new rates for Employers National Insurance contributions start. Not only is the rate going up but the threshold where employers have to pay it will be for anyone that earns over £5,000. Where currently it is only for employees that earn over £9,000.
That means employers will have to pay much much more in contributions than they currently do. It will affect the retail and hospitality sectors the most. The only way they will afford it is by putting their prices up, leading to much higher inflation rates.
That was a very dirty trick by the Labour Party. |
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"I don't understand how energy prices rise with all those lovely renewables we're using ?
Oh yeah, they're all subsidised to shit so actually push prices up 🤦♂️"
This...expect more once Sillibands nutty zero project costs start to bite. |
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"If you think inflation is bad now, wait until The new rates for Employers National Insurance contributions start. Not only is the rate going up but the threshold where employers have to pay it will be for anyone that earns over £5,000. Where currently it is only for employees that earn over £9,000.
That means employers will have to pay much much more in contributions than they currently do. It will affect the retail and hospitality sectors the most. The only way they will afford it is by putting their prices up, leading to much higher inflation rates.
That was a very dirty trick by the Labour Party."
You for got to add the 6.5% on the minimum wage to add to the cost to business adding to inflation.
It will be a triple hit NI threshold, NI %, and minimum wage.
It could even push up interest rates. If inflation jumps up again. |
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"Is this another example of Labour delivering again?
So if the Tories had remained in power the energy price cap would have dropped?, stayed the same?
Presumably the Tories wouldn’t have spent the last four months talking down the country and economy and giving massive pay rises to public sector workers in return for falling productivity.
Ah so just positive chat keeps inflation down 😂"
I see you went to the same Economics school as your beloved Rachel. |
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"If you think inflation is bad now, wait until The new rates for Employers National Insurance contributions start. Not only is the rate going up but the threshold where employers have to pay it will be for anyone that earns over £5,000. Where currently it is only for employees that earn over £9,000.
That means employers will have to pay much much more in contributions than they currently do. It will affect the retail and hospitality sectors the most. The only way they will afford it is by putting their prices up, leading to much higher inflation rates.
That was a very dirty trick by the Labour Party."
And people will spend less, because they can buy the 94p frozen pizza from Sainsbury’s now instead of the 97p one in Lidl’s d get a pint in spoons for £2 instead of £6 at the independent pub.
Markets will always sort themselves out - some pubs and supermarkets will close and the staff will deliver take aways instead
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By *otMe66Man 3 days ago
Terra Firma |
"If you think inflation is bad now, wait until The new rates for Employers National Insurance contributions start. Not only is the rate going up but the threshold where employers have to pay it will be for anyone that earns over £5,000. Where currently it is only for employees that earn over £9,000.
That means employers will have to pay much much more in contributions than they currently do. It will affect the retail and hospitality sectors the most. The only way they will afford it is by putting their prices up, leading to much higher inflation rates.
That was a very dirty trick by the Labour Party.
And people will spend less, because they can buy the 94p frozen pizza from Sainsbury’s now instead of the 97p one in Lidl’s d get a pint in spoons for £2 instead of £6 at the independent pub.
Markets will always sort themselves out - some pubs and supermarkets will close and the staff will deliver take aways instead
"
The impact of this rise in NI is going to impact inside IR35 contractors terribly.
In real terms they have been hit by 13.5% and with that increasing to 15% and payable at 5k instead of 9K.
This is a tax for growth? How can it be when so much growth in this country is driven through contract project work, maybe they don't recognise those people as workers!
They have not thought this through as they haven't thought through the other policies they have steamrollered in... |
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"If you think inflation is bad now, wait until The new rates for Employers National Insurance contributions start. Not only is the rate going up but the threshold where employers have to pay it will be for anyone that earns over £5,000. Where currently it is only for employees that earn over £9,000.
That means employers will have to pay much much more in contributions than they currently do. It will affect the retail and hospitality sectors the most. The only way they will afford it is by putting their prices up, leading to much higher inflation rates.
That was a very dirty trick by the Labour Party.
And people will spend less, because they can buy the 94p frozen pizza from Sainsbury’s now instead of the 97p one in Lidl’s d get a pint in spoons for £2 instead of £6 at the independent pub.
Markets will always sort themselves out - some pubs and supermarkets will close and the staff will deliver take aways instead
The impact of this rise in NI is going to impact inside IR35 contractors terribly.
In real terms they have been hit by 13.5% and with that increasing to 15% and payable at 5k instead of 9K.
This is a tax for growth? How can it be when so much growth in this country is driven through contract project work, maybe they don't recognise those people as workers!
They have not thought this through as they haven't thought through the other policies they have steamrollered in..."
Even without those terrible measures you can't have economic growth with the world's most expensive electricity. Which will get more expensive under Miliband's mad policies. |
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By *lex46TV/TS 3 days ago
Near Wells |
"If you think inflation is bad now, wait until The new rates for Employers National Insurance contributions start. Not only is the rate going up but the threshold where employers have to pay it will be for anyone that earns over £5,000. Where currently it is only for employees that earn over £9,000.
That means employers will have to pay much much more in contributions than they currently do. It will affect the retail and hospitality sectors the most. The only way they will afford it is by putting their prices up, leading to much higher inflation rates.
That was a very dirty trick by the Labour Party.
You for got to add the 6.5% on the minimum wage to add to the cost to business adding to inflation.
It will be a triple hit NI threshold, NI %, and minimum wage.
It could even push up interest rates. If inflation jumps up again."
I didn’t forget about it, I just didn’t want to depress myself any further  |
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By *otMe66Man 3 days ago
Terra Firma |
"If you think inflation is bad now, wait until The new rates for Employers National Insurance contributions start. Not only is the rate going up but the threshold where employers have to pay it will be for anyone that earns over £5,000. Where currently it is only for employees that earn over £9,000.
That means employers will have to pay much much more in contributions than they currently do. It will affect the retail and hospitality sectors the most. The only way they will afford it is by putting their prices up, leading to much higher inflation rates.
That was a very dirty trick by the Labour Party.
And people will spend less, because they can buy the 94p frozen pizza from Sainsbury’s now instead of the 97p one in Lidl’s d get a pint in spoons for £2 instead of £6 at the independent pub.
Markets will always sort themselves out - some pubs and supermarkets will close and the staff will deliver take aways instead
The impact of this rise in NI is going to impact inside IR35 contractors terribly.
In real terms they have been hit by 13.5% and with that increasing to 15% and payable at 5k instead of 9K.
This is a tax for growth? How can it be when so much growth in this country is driven through contract project work, maybe they don't recognise those people as workers!
They have not thought this through as they haven't thought through the other policies they have steamrollered in...
Even without those terrible measures you can't have economic growth with the world's most expensive electricity. Which will get more expensive under Miliband's mad policies."
Agreed, they are talking about 650000 jobs that UK energy is going to bring, how when they are wanting private sector support for the jobs and hitting them in the pocket at the same time! They want 1.5million new homes built again by private companies, they have in one stroke increased the cost of every one of those homes, but lets be realistic they never had a chance from the get go.
Nothing short of a shambles. |
Reply privately, Reply in forum +quote
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"If you think inflation is bad now, wait until The new rates for Employers National Insurance contributions start. Not only is the rate going up but the threshold where employers have to pay it will be for anyone that earns over £5,000. Where currently it is only for employees that earn over £9,000.
That means employers will have to pay much much more in contributions than they currently do. It will affect the retail and hospitality sectors the most. The only way they will afford it is by putting their prices up, leading to much higher inflation rates.
That was a very dirty trick by the Labour Party.
And people will spend less, because they can buy the 94p frozen pizza from Sainsbury’s now instead of the 97p one in Lidl’s d get a pint in spoons for £2 instead of £6 at the independent pub.
Markets will always sort themselves out - some pubs and supermarkets will close and the staff will deliver take aways instead
The impact of this rise in NI is going to impact inside IR35 contractors terribly.
In real terms they have been hit by 13.5% and with that increasing to 15% and payable at 5k instead of 9K.
This is a tax for growth? How can it be when so much growth in this country is driven through contract project work, maybe they don't recognise those people as workers!
They have not thought this through as they haven't thought through the other policies they have steamrollered in...
Even without those terrible measures you can't have economic growth with the world's most expensive electricity. Which will get more expensive under Miliband's mad policies.
Agreed, they are talking about 650000 jobs that UK energy is going to bring, how when they are wanting private sector support for the jobs and hitting them in the pocket at the same time! They want 1.5million new homes built again by private companies, they have in one stroke increased the cost of every one of those homes, but lets be realistic they never had a chance from the get go.
Nothing short of a shambles."
most trades in those sectors are majority self employed so it wont affect them that much |
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"If you think inflation is bad now, wait until The new rates for Employers National Insurance contributions start. Not only is the rate going up but the threshold where employers have to pay it will be for anyone that earns over £5,000. Where currently it is only for employees that earn over £9,000.
That means employers will have to pay much much more in contributions than they currently do. It will affect the retail and hospitality sectors the most. The only way they will afford it is by putting their prices up, leading to much higher inflation rates.
That was a very dirty trick by the Labour Party.
You for got to add the 6.5% on the minimum wage to add to the cost to business adding to inflation.
It will be a triple hit NI threshold, NI %, and minimum wage.
It could even push up interest rates. If inflation jumps up again.
I didn’t forget about it, I just didn’t want to depress myself any further "
 
Got you lol |
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By *otMe66Man 3 days ago
Terra Firma |
"If you think inflation is bad now, wait until The new rates for Employers National Insurance contributions start. Not only is the rate going up but the threshold where employers have to pay it will be for anyone that earns over £5,000. Where currently it is only for employees that earn over £9,000.
That means employers will have to pay much much more in contributions than they currently do. It will affect the retail and hospitality sectors the most. The only way they will afford it is by putting their prices up, leading to much higher inflation rates.
That was a very dirty trick by the Labour Party.
And people will spend less, because they can buy the 94p frozen pizza from Sainsbury’s now instead of the 97p one in Lidl’s d get a pint in spoons for £2 instead of £6 at the independent pub.
Markets will always sort themselves out - some pubs and supermarkets will close and the staff will deliver take aways instead
The impact of this rise in NI is going to impact inside IR35 contractors terribly.
In real terms they have been hit by 13.5% and with that increasing to 15% and payable at 5k instead of 9K.
This is a tax for growth? How can it be when so much growth in this country is driven through contract project work, maybe they don't recognise those people as workers!
They have not thought this through as they haven't thought through the other policies they have steamrollered in...
Even without those terrible measures you can't have economic growth with the world's most expensive electricity. Which will get more expensive under Miliband's mad policies.
Agreed, they are talking about 650000 jobs that UK energy is going to bring, how when they are wanting private sector support for the jobs and hitting them in the pocket at the same time! They want 1.5million new homes built again by private companies, they have in one stroke increased the cost of every one of those homes, but lets be realistic they never had a chance from the get go.
Nothing short of a shambles.most trades in those sectors are majority self employed so it wont affect them that much "
Those who are self employed face rising costs across the board, materials, energy, and now increased taxation on employers will indirectly affect them too, after all the house builders employ large amounts of staff and are responsible for the inside / outside ir35 decisions.
Contractors rely on projects staying viable, and if private sector companies face higher costs, they usually scale back or delay projects entirely.
The idea of taxing for growth doesn’t make much sense when it’s done in a way that discourages the very sectors driving that growth. |
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"If you think inflation is bad now, wait until The new rates for Employers National Insurance contributions start. Not only is the rate going up but the threshold where employers have to pay it will be for anyone that earns over £5,000. Where currently it is only for employees that earn over £9,000.
That means employers will have to pay much much more in contributions than they currently do. It will affect the retail and hospitality sectors the most. The only way they will afford it is by putting their prices up, leading to much higher inflation rates.
That was a very dirty trick by the Labour Party.
And people will spend less, because they can buy the 94p frozen pizza from Sainsbury’s now instead of the 97p one in Lidl’s d get a pint in spoons for £2 instead of £6 at the independent pub.
Markets will always sort themselves out - some pubs and supermarkets will close and the staff will deliver take aways instead
The impact of this rise in NI is going to impact inside IR35 contractors terribly.
In real terms they have been hit by 13.5% and with that increasing to 15% and payable at 5k instead of 9K.
This is a tax for growth? How can it be when so much growth in this country is driven through contract project work, maybe they don't recognise those people as workers!
They have not thought this through as they haven't thought through the other policies they have steamrollered in...
Even without those terrible measures you can't have economic growth with the world's most expensive electricity. Which will get more expensive under Miliband's mad policies.
Agreed, they are talking about 650000 jobs that UK energy is going to bring, how when they are wanting private sector support for the jobs and hitting them in the pocket at the same time! They want 1.5million new homes built again by private companies, they have in one stroke increased the cost of every one of those homes, but lets be realistic they never had a chance from the get go.
Nothing short of a shambles.most trades in those sectors are majority self employed so it wont affect them that much "
No lots like be to get round IR35 work as employed for there own limited company so will have to rase the hourly rate to cover the extra tax. |
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"CPI rose to 2.3% in October, back above the target rate of 2%
Key driver is the increase in energy prices (despite Miliband telling us that our bills would go down under Labour) and oddly an increase in air fares. Maybe all those people fleeing the country.
Economists expecting inflation to hit 3% next year due to NI increases and public sector pay rises.
Expect interest rates to stay high.
So we’ve got:
Higher interest rates leads to higher mortgage costs
Higher taxes
Higher prices
Lower growth
Higher unemployment
"
Labour are definitely discovering its a lot harder when in office than in opposition. On top of the above they now say their own policy on WFA will push 50,000 into poverty. |
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"My only question - Are Labour really economically this naive? Or do they know the outcome of their policies very well and are still going for it?"
It's what a Labour government does. To the best of my knowledge, it was ever thus |
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"My only question - Are Labour really economically this naive? Or do they know the outcome of their policies very well and are still going for it?"
What amazes me if how politically inept they've been. Even if they really believe these policies are necessary, surely they could have got the presentation and timing better. |
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By *oo hotCouple 3 days ago
North West |
"I think this will be the last Labour Government for at least twenty years. The extent of its utter incompetence is only just becoming clear."
To be honest, I am enjoying the relative calm after 14 years of Conservative psychodrama. If you think that this is in any way worse than the nonsense we have endured in the last 10 years of Conservative Government then you must be completely blind to reality. |
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By *otMe66Man 2 days ago
Terra Firma |
"I think this will be the last Labour Government for at least twenty years. The extent of its utter incompetence is only just becoming clear.
To be honest, I am enjoying the relative calm after 14 years of Conservative psychodrama. If you think that this is in any way worse than the nonsense we have endured in the last 10 years of Conservative Government then you must be completely blind to reality."
People are concerned about the direction of travel this government is taking. We are on a very dodgy path that could make austerity measures by the tories look like a day out by the sea. |
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