26-08-2022, 21:55
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#376
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Woke and proud !
Join Date: Jun 2004
Services: TV, Phone, BB, a wife
Posts: 9,133
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Re: Rising cost of living
'Middle earners', which the Torygraph and Chancellor define as those earning a measly £45,000 , need urgent help.
Poor souls, let's hope they survive....
Quote:
Middle-earners on salaries of £45,000 will need help from the Government to pay their energy bills, the Chancellor warned on Friday.
In an interview with the Telegraph 11 days before the new Prime Minister takes office, Nadhim Zahawi said that support cannot be confined to families on benefits and added that gas prices could remain punishingly high for two years.
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https://www.telegraph.co.uk/business...is-chancellor/
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26-08-2022, 22:36
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#377
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Architect of Ideas
Join Date: Dec 2004
Posts: 10,365
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Re: Rising cost of living
Quote:
Originally Posted by Mr K
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In fairness, I welcome his acknowledgment the free market has failed for even above average earners. You’ve got to remember, £45 000 of purchasing power today might only be worth £35 000 in 2024 at this rate. If your energy company is rinsing you for £6 000 and your mortgage is up £2 500 there will be a big queue for those high wage, his skilled jobs we have been promised. That’s 45k before you get taxed to pay off interest on 2 trillion of debt and into the pensioner Ponzi scheme.
Last edited by jfman; 26-08-2022 at 23:00.
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26-08-2022, 23:03
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#378
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Just a Geek
Join Date: Jul 2015
Posts: 3,601
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Re: Rising cost of living
One would imagine there is a lot more head room for someone to adapt on 45K to the new cost of living than it is from someone who has to live off 7K now
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27-08-2022, 00:34
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#379
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Dr Pepper Addict
Cable Forum Team
Join Date: Oct 2003
Location: Nottingham
Age: 61
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Posts: 27,725
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Re: Rising cost of living
Quote:
Originally Posted by Jaymoss
One would imagine there is a lot more head room for someone to adapt on 45K to the new cost of living than it is from someone who has to live off 7K now
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They will most likely have higher energy usage, and higher general living costs (and rent/mortgage costs).
People on 35k/40k/45k are not super rich, living some kind of life of luxury, especially in some areas (like the south east).
Fuel poverty is apparently defined as spending more than 10% of income on energy/fuel, for someone on 45K, thats more about £230 a month.
They are almost certainly paying more than that already, and just like everyone else, whatever they are paying will increase by about 80% in October.
This is not just biting at low earners, its biting middle earners as well.
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27-08-2022, 08:25
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#380
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The Dark Satanic Mills
Join Date: Dec 2003
Location: floating in the ether
Posts: 12,038
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Re: Rising cost of living
Quote:
Originally Posted by Mr K
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Less than what a tube driver earns
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The wheel's still turning but the hamsters dead.
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27-08-2022, 08:36
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#381
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laeva recumbens anguis
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Join Date: Jun 2006
Age: 67
Services: Premiere Collection
Posts: 42,099
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Re: Rising cost of living
More than a bus driver earns
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If only we’re brave enough to see it.
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27-08-2022, 08:42
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#382
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Trollsplatter
Cable Forum Team
Join Date: Jun 2003
Location: North of Watford
Services: Humane elimination of all common Internet pests
Posts: 36,928
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Re: Rising cost of living
Quote:
Originally Posted by Pierre
Less than what a tube driver earns
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Indeed. And drivers on national rail routes are all on at least £50k, with some on more than £70k. Many of them have been on strike over pay recently and are due to do so again.
The idea that everyone on £45k can easily just cancel a couple of streaming tv subscriptions and ride it out is mule-headed classism. A great many people in this bracket are stuck in expensive rented accommodation because the last financial crisis in this country more or less permanently ended their hopes of ever getting a mortgage. Those who do have mortgages are finding them rapidly becoming expensive, with worse to come.
A repossession/homelessness crisis with the inevitable knock-on effects on the state benefits bill profits nobody.
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27-08-2022, 08:47
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#383
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Architect of Ideas
Join Date: Dec 2004
Posts: 10,365
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Re: Rising cost of living
It’s almost as if there’s a common enemy further up the line…
Zahawi raises an interesting point - they oppose adjusting the price cap because people who could afford it would also benefit.
Now if someone could devise a system where those who could least afford it pay least, those would could afford it pay a bit more. You could set thresholds and percentages to pay around salary levels or household income levels, ensuring the worst off aren’t hardest hit but “middle earners” also benefit.
Last edited by jfman; 27-08-2022 at 08:51.
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27-08-2022, 13:45
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#384
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Rise above the players
Join Date: Mar 2008
Location: Wokingham
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Posts: 14,589
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Re: Rising cost of living
Quote:
Originally Posted by Jaymoss
One would imagine there is a lot more head room for someone to adapt on 45K to the new cost of living than it is from someone who has to live off 7K now
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What, like selling your house?
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27-08-2022, 13:54
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#385
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Architect of Ideas
Join Date: Dec 2004
Posts: 10,365
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Re: Rising cost of living
Quote:
Originally Posted by OLD BOY
What, like selling your house?
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Free market, innit? If you can’t afford your house, move. If it happens enough house prices fall.
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27-08-2022, 14:26
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#386
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Rise above the players
Join Date: Mar 2008
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Posts: 14,589
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Re: Rising cost of living
Quote:
Originally Posted by jfman
Free market, innit? If you can’t afford your house, move. If it happens enough house prices fall.
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You’re all heart, jfman.
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27-08-2022, 15:57
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#387
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Trollsplatter
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Join Date: Jun 2003
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Posts: 36,928
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Re: Rising cost of living
Quote:
Originally Posted by OLD BOY
You’re all heart, jfman.
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Not entirely. You appear to have missed his subtle sense of irony.
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27-08-2022, 16:13
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#388
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Just a Geek
Join Date: Jul 2015
Posts: 3,601
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Re: Rising cost of living
Quote:
Originally Posted by OLD BOY
What, like selling your house?
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Shop at Aldi
I do not know always being being on a low income but one would think someone on 45K would have more spare income that goes on shopping/luxuries and someone on 10K or less. My Dad is on a final salary pension and and gets 28K a year + 2x state pension than lives an extremely comfortable life. Yeah his mortgage is paid but it was never over 10K a year. I can see some will be but they get a damn site better chance of weathering the storm than someone already 10 years into fuel poverty
The estimated price cap for April next year (I hope and pray is wrong) is 500 quid more than I get a year. Thankfully I do not use the average but it is close. Without the help already given this winter my energy bill would be at least £200 a month and that is without using any gas for heating this winter 37.4% of my total income over 10% is fuel poverty
Last edited by Jaymoss; 27-08-2022 at 16:21.
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27-08-2022, 16:31
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#389
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Dr Pepper Addict
Cable Forum Team
Join Date: Oct 2003
Location: Nottingham
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Re: Rising cost of living
No one doubts your financial troubles related to this.
However, the simple assertion that someone earning more will have no issues is just wrong. A few may well be fine, many others will not.
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27-08-2022, 16:48
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#390
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Just a Geek
Join Date: Jul 2015
Posts: 3,601
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Re: Rising cost of living
Quote:
Originally Posted by Paul
No one doubts your financial troubles related to this.
However, the simple assertion that someone earning more will have no issues is just wrong. A few may well be fine, many others will not.
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I said will have more headroom not no issues I believe
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