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Fun Twitter thread on just how fucked 50% of the population are:
https://threadreaderapp.com/thread/1505102555742982148.html
In case this thread is too long for you this is a summary. We’re in a crisis. Energy and food costs are going to increase the cost of living of low income families by 14% a year, or £300 a month. More than 70% of households will go into debt unless they cut their spending, a lot.
NotThamesWater-
I don't understand how the housing costs are so low? £5.3k annual for median household, inc council tax. Am I just out of touch with non-London housing costs?
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Sensible suggestions, which means they won't happen...
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And what we know is that money creation of this sort did not create inflation in the previous 11 years, and nor is it, or will it, now.
I really struggle with this tbh. I can't see how increasing the money supply will not lead to inflation (or quality reductions, smaller kitkats etc), even if the onset is / has been delayed by interesting features of our markets (high levels of competition and high price sensitivity to keep prices low, lots of information on pricing available, cheap goods from China etc, falling cost of manufacturing high tech devices). I suspect QE has driven huge inflation in things that cannot be simply replicated or the supply increased, like Houses, wages of Tech bros and other skilled people ...and now Gas and fuel.
hoefla
JWestland
Howard
https://www.theguardian.com/uk-news/2022/mar/23/rishi-sunak-lowers-fuel-duty-by-5p-and-promises-income-tax-cut-spring-statement
NI threshold raised to £12.5k which is fairly sensible I guess. 5p off (car) fuel which is pissing in the wind
Income tax cut by 1% in 2024 in line with Sunak's electoral strategy from last year https://www.cityam.com/rishi-sunak-tells-mps-he-wants-to-raise-taxes-then-cut-them-before-next-election/