[Politics] Cost of Living Crisis

Neville's Breakfast · Apr 14, 2022

Wardy's twin said:
The student loan process is just another rip off for the younger generations.

People defending it by saying most won't pay it off are missing the point - its a debt which is being greatly inflated by a huge interest rate and that debt is brought into any calculation if you go for another loan or mortgage.

I’m pretty sure that last bit isn’t correct. My eldest has a student loan and it was not taken into account when she recently got a mortgage. The student loan concept isn’t a rip off. It is an inevitable consequence of the massive increase in access to higher education. Those saying the younger generation have it tough because of these loans are way off the mark because they have a much greater chance of a uni place than we did. Personally I would go back to the old system ie a lot less kids at uni and grants for the ones that do go and need the financial support. You can’t have it both ways though.

Machiavelli · Apr 14, 2022

Wardy's twin said:
The student loan process is just another rip off for the younger generations.

People defending it by saying most won't pay it off are missing the point - its a debt which is being greatly inflated by a huge interest rate and that debt is brought into any calculation if you go for another loan or mortgage.

It has been said on here that only 25% will pay it off -- despite the same poster claiming that they're aware of the new scheme. It is the case that the projections under the new scheme are that 70% will pay it off.

Machiavelli · Apr 14, 2022

WATFORD zero said:
I'm sorry but it's only a fixed cost until the Government changes the rules again. Like the interest rates were 'fixed' and the 25 year term is currently 'fixed', although not for much longer if the Government get their current proposals through. KIds are taking out these loans for the best part of their working lives and then the Government are changing the rules.

And if you earn £30k and have a debt of £40K you won't pay off your debt after 25 years even though you have actually repaid over 45K because of the interest rate which 'doesn't effect you'. That'll be the same interest rate which the Government changed after you took the loan out

I'm sorry but I believe this is a huge issue. Luckily my realised what was going to happen and borrowed the money from us to repay their loans and have now almost paid us back (0% interest, I'm all heart). This is simply marching towards further education being the bastion of the rich and it stinks.

I actually agree with KZN on this. There has been a massive expansion of schoolleavers going into HE since the introduction of the loan hikes, so it's difficult to sustain that argument. The issue of how many should go to HE and how to fund it is indeed a tricky issue. My proposal is as many as want to (and can demonstrate that they want to -- ie more rigorous assessment once they've arrived at uni, and withdrawal if that requisite level is not met at ends of Yrs 1 and 2). And this should be paid for out of general taxation which becomes transformed such that the affluent pay a far higher share, particularly out of assets rather than labour.

beorhthelm · Apr 14, 2022

Neville's Breakfast said:
I’m pretty sure that last bit isn’t correct. My eldest has a student loan and it was not taken into account when she recently got a mortgage.

as i understand there is a subtle nuance to this. as loan payments are taken at source, when the mortgage provider assess affordability on monthly income, the loan payments aren't seen. however the available income has been reduced, so a lower mortgage available.

A1X · Apr 14, 2022

Wardy's twin said:
The student loan process is just another rip off for the younger generations.

People defending it by saying most won't pay it off are missing the point - its a debt which is being greatly inflated by a huge interest rate and that debt is brought into any calculation if you go for another loan or mortgage.

Unfortunately just one of the ways those of us in the younger generation are screwed over at every turn while those who came before us enjoy their triple-locked pensions, final salary schemes and live in their (at the time) affordable houses*.

*Yes I know not everyone, and I really don't care if you're not benefitting from at least one of these, but none of these things will happen to us but happened surprisingly often to the oldies.

A1X · Apr 14, 2022

So the Government won't spend any money helping ordinary people struggling to pay their bills but they'll happily spaff £1.8bn sending refugees to Rwanda?

Wardy's twin · Apr 14, 2022

Neville's Breakfast said:
I’m pretty sure that last bit isn’t correct. My eldest has a student loan and it was not taken into account when she recently got a mortgage. The student loan concept isn’t a rip off. It is an inevitable consequence of the massive increase in access to higher education. Those saying the younger generation have it tough because of these loans are way off the mark because they have a much greater chance of a uni place than we did. Personally I would go back to the old system ie a lot less kids at uni and grants for the ones that do go and need the financial support. You can’t have it both ways though.

My youngest has just bought a flat with her partner, both relatively recent graduates who are now paying less on the mortgage than they were with the rent. The student loan was brought into the discussion and helped cap the loan in so much that once they went over the threshold into paying it , they would have less cash.

Where the loan system is a rip off is a) interest rate b) the way education has been turned into a massive money making industry from the cost of tuition fees to high rent in often squalid accommodation c) the way a degree is a must even in jobs that don't warrant it d) and that to stand out you need two degrees

What's worse is the education system is not actually producing the skills that we need and is too focussed on academic achievent.

I went to University in 1974 , received only a part grant and was lucky my parents were prepared to help and that was supplemented by summer jobs.

Personally think the old system was binned as divisive etc but it had merits and we perhaps need to get away from degrees and academia and have the education reflect more of what we need and that includes things like plumbers and electricians as much as teacher, nurses, doctors , scientists etc.

My youngest has a debt 5 times greater than my first mortgage..

Wardy's twin · Apr 14, 2022

A1X said:
Unfortunately just one of the ways those of us in the younger generation are screwed over at every turn while those who came before us enjoy their triple-locked pensions, final salary schemes and live in their (at the time) affordable houses*.

*Yes I know not everyone, and I really don't care if you're not benefitting from at least one of these, but none of these things will happen to us but happened surprisingly often to the oldies.

I probably benefit from all 3 which has least allowed me to become Bank of Mum & Dad for my kids.

In my defence it didn't quite fall in my lap , I had to make choices which I wasn't always happy with i.e. smile at corporate managers who i disliked, worked a lot of hours and put money into basics rather than luxuries - my telly i 10 years old, i buy second hand cars and run them for years etc etc.

zefarelly · Apr 14, 2022

A1X said:
So the Government won't spend any money helping ordinary people struggling to pay their bills but they'll happily spaff £1.8bn sending refugees to Rwanda?

sounds about right,

G4s probably have the contract

nothing to see here, move along

zefarelly · Apr 14, 2022

Wardy's twin said:
I probably benefit from all 3 which has least allowed me to become Bank of Mum & Dad for my kids.

In my defence it didn't quite fall in my lap , I had to make choices which I wasn't always happy with i.e. smile at corporate managers who i disliked, worked a lot of hours and put money into basics rather than luxuries - my telly i 10 years old, i buy second hand cars and run them for years etc etc.

same here really. no pension, degree , but served a good apprenticeship, bought a flat ASAP and have lived like you, sensibly, I think, my hifi is 20 years old, and still miles better than the chinky plastic shit on offfer now!

I think we'll be able to support our lad through Uni if he sticks with it! TBH If I have to take out a loan or sell a classic car it'll be a better deal than anything the Government offer. . .

Machiavelli · Apr 14, 2022

A1X said:
Unfortunately just one of the ways those of us in the younger generation are screwed over at every turn while those who came before us enjoy their triple-locked pensions, final salary schemes and live in their (at the time) affordable houses*.

*Yes I know not everyone, and I really don't care if you're not benefitting from at least one of these, but none of these things will happen to us but happened surprisingly often to the oldies.

Agreed. It's an absolute disgrace what the elderly have visited on the younger generations in this country over the past few decades. And the policy and fiscal frameworks just carry on working in favour of the former over the latter -- just witness who the burden of the recent NI increase falls on, and that's before we get into the cost of HE.

WATFORD zero · May 23, 2022

UK ‘unprepared’ for soaring food prices and shortages, says head of government advisory body

Ian Wright has told The Independent of growing concerns that there is no proper plan for a “scary” future of disrupted food supplies, warning: “This is a bigger crisis than energy.” Cooking oil, which is used in crisps, ready meals, biscuits and mayonnaise, has already been rationed, while rising fertiliser and animal feed prices are hitting domestic production. Mr Wright said: “I don’t think the government has fully grasped the implications of all this. Things could get quite scary, with significant price rises and in terms of food poverty.

“A lot of people involved with the food industry think this issue now requires greater urgency and focus from the government to ensure the country gets the food that it needs. “This is a bigger crisis than energy. If the government has plans, it needs to share what those plans are more widely.”

Last week, the Bank of England governor Andrew Bailey warned of an “apocalyptic” impact from the Ukraine conflict, telling MPs there is “no way of shipping the food out and it’s getting worse”. Mr Wright, the former head of the Food and Drink Federation, said Brexit – estimated to have pushed up food prices by 6 per cent – and Covid were just a foretaste of what is to come.

https://www.msn.com/en-gb/news/uknews/uk-unprepared-for-soaring-food-prices-and-shortages-says-head-of-government-advisory-body/ar-AAXAwvO?ocid=mailsignout&li=AAnZ9Ug

I'm not convinced that this is anywhere in the Johnson Government's priority list at the moment :facepalm:

KZNSeagull · May 26, 2022

£200 loan in October for energy bills turned into a grant and doubled to £400.
Those on benefits will get a one-off payment of £650
Disabled get £150
Pensioners £300.

£15bn in additional support bringing total to £38bn.

beorhthelm · May 26, 2022

after all the protestations against windfall tax, Sunak not only brings one in, but twice the amount others called for.

Weststander · Jun 15, 2022

One bit of advice to save oodles of cash, do not use Sainsbury's for your main food shop!

The West Hove store is very convenient to us, but we broke the lazy and expensive habit, paying far less at Lidl or Aldi.

We made the mistake today of getting half our weekly groceries at Sainsbury's = £90.

No alcohol or big items purchased. £4 for cherries, £3 for blueberries.

It was dead in there early afternoon, is it any wonder why.

South west gull · Jun 15, 2022

Weststander said:
One bit of advice to save oodles of cash, do not use Sainsbury's for your main food shop!

The West Hove store is very convenient to us, but we broke the lazy and expensive habit, paying far less at Lidl or Aldi.

We made the mistake today of getting half our weekly groceries at Sainsbury's = £90.

No alcohol or big items purchased. £4 for cherries, £3 for blueberries.

It was dead in there early afternoon, is it any wonder why.

Cherries 79p at Tesco's

Sent from my Pixel 4a using Tapatalk

Randy McNob · Jun 25, 2022

[tweet]1540059038267981826[/tweet]

WATFORD zero · Jun 27, 2022

Beach Hut · Jun 27, 2022

Think some places are taking the piss over food inflation, local pizza take-away has put up its prices up 43% !

Neville's Breakfast · Jun 27, 2022

Beach Hut said:
Think some places are taking the piss over food inflation, local pizza take-away has put up its prices up 43% !

Yeah, you have to be selective and not pay the rip off prices. I know it’s not an essential (before anyone gives me a lecture) but one of our local bars has put its wine prices up and another one has some good offers. We have adjusted accordingly. We are also shopping around all the supermarkets as different ones try it on with different products. The only thing we buy in Sainsbury’s for instance is coffee. I reckon there is a fair amount of bandwagon jumping going on by shops so you have to be alert.

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[Politics] Cost of Living Crisis

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