Beginning to panic about skyrocketing inflation as a result of a no deal Brexit...

[ManagingLife]

I appreciate this has been done to death on here, judging by the amount of threads on MN about Brexit.

However, I scroll past these threads as I was very much undecided with the vote, though went with remain in the end, and had a degree of faith in the powers that be regardless. That feeling has now turned to utter disbelief at the state of how things are being 'run', if you can call it that at all.

Despite being a low income earner and a tenant, I am a saver and scrimper. I can't afford to cut back any further - I have goals to reach and children to feed, clothe and nurture (I am a newly single parent).

The Bank of England's most recent forecast of the immediate aftermath in the event of a no deal Brexit has left me horrified... I fear destitution is likely if a no deal happens.

Should I start bulk buying and drawing out cash, etc? Or AIBU and hysterical?!?

*Crispmonster123

'The most stupidest post ever'
*
The most grammatically incorrect post (so far on this thread)

I may get a few extra things in if I remember but I'm certainly not panicking. If we leave at all I'm sure it won't be anywhere as bad or dramatic as some are predicting.

ponoka7 out of interest whereabouts are you?

I've been feeding and fattening up the birds in my garden - come Brexit Armageddon I shall feast upon a selection of roast sparrows, blackbirds, wood pigeons and the occasional blue tit. Ichabod the robin shall be spared.

Hmm love the idea of buying cigarettes to trade with. Got to be one of the maddest things I've heard on MN.

Almost as mad as that complete idiot in the papers the other day who said he was going to spend £2.2billion to prepare for the worst case scenario. Boris something or other.

StealthPolarBear

"I think I might start putting aside a £ per week towards an emergency supply to last 6 - 12 months? Let's hope the government will do this too..."
You mean planning and organising spending wisely? You are naive

Did you not read my op?

Lifecraft - exactly, £2.1million for what and who exactly? Boris, can you answer the question?

Holy moly......Screamanger, I honestly had my first 'lol' to this ridiculous post

Oh, don't get me wrong. I'm an avid remainer and I'm not happy about this whole situation at all, in fact I feel pretty worried about it if I'm honest.

I think everything is going to go to shit, especially if we leave without a deal, and Boris is going to spend, spend, spend like some crazy lottery winner, which is what I suspect he's feeling like right now, hence the £2.1 million for who knows what. Even so I don't think hording cigarettes is really the way to go.

Lifecraft - exactly, £2.1million

hence the £2.1 million for who knows what

BILLION.....FUCKING BILLION.

(that's 1000 £2.1millions)

I can rely on the cat

Sorry, billion.

🤷‍♀️ it a prep that’s easy. You don’t have to do it I don’t care, your survival is not my problem

What can we do to protect ££ agaisnt inflation.

Premium bond? Invest? Draw it out bank?

Asda smartprice stuff is actually really nice- especially 12 x toilet rolls for £1.97, any of the canned bits taste just as nice as the branded ones in my opinion, and long life milk is 54p. Could you add a bit to your weekly shop? I'm not hysterical about Brexit, but seems sensible to prepare when possible if you'll use it anyway.

@user1480880826. I agree it’s not happened yet, but the referendum has, and look what happened to the economy, better than predicted, and where’s the emergency budget? As to the companies leaving, there’s a global downturn, it’s not allto do with Brexit, that’s the BBC slant

I don't think it'll quite get to the point of black market cigarette/booze trading or fattening up one of the DC to ensure the survival of the remaining family but I am stockpiling a little. It's all store cupboard things with a long shelf life that I would buy and use anyway such as pasta, rice, tinned tomatoes, tuna, beans, bread mix, dried fruit, etc. Whenever I do a food shop i add on an extra bag or two of pasta or a couple of extra tins and they go into the box in the cupboard under the stairs. It means if the shops are manic we can avoid having to go to them and if there are shortages we can get by with what we've stockpiled leaving more food available for others.

When we had the bad snow last winter our local shops couldn't get deliveries and the shelves were noticeably emptier - fresh ingredients were entirely gone and you could see where shoppers had substituted for unavailable items as those items were either in low stock or entirely gone too. Even after the snow was gone it took a good 2-3 weeks for them to gradually get back to normal. If they occur, which I think they will, then the food shortages post-Brexit will be similar but will last longer and the food that is available will be more expensive.

What can we do to protect ££ agaisnt inflation.
Premium bond? Invest? Draw it out bank?

Buy gold, it’s always the safe option

Did we all miss the PP saying they’re skipping breakfast to save money? Heart breaking and I’m surprised no one else has picked up on it

PinkyPrincessy

I noticed that too, I guess people are doing whatever they need to insure their survival

If there is a shortage of food its because crazy mn'ers are stockpiling it waiting for armageddon.

The OP's headline extreme in itself. What are you classing " Skyrocketing inflation"..??

Seeing as it's around 2% atm, what do you expect it to go up to after 3 months.....and then 6 months....?? I doubt you even know how they calculate inflation & what it includes.

FWIW I doubt much will happen & even if it did you wouldnt notice it much.

The OP's headline extreme in itself. What are you classing " Skyrocketing inflation"..??

Seeing as it's around 2% atm, what do you expect it to go up to after 3 months.....and then 6 months....?? I doubt you even know how they calculate inflation & what it includes.

The Bank of England have estimated the pound could drop by as much as 25% in which case interest rates would need to rise in order to combat inflation.

People seem to forget that it's not just us wanting to import things, but the EU countries need to export to us to to keep their economy stable. It's in their interests to continue to trade with us as well so I'm not worried about empty shelves in our country because that would mean stockpiles in their countries of origin. Stockpiles devalue the product and lower the ecomony. They need to sell to us just as much as we need to buy from them.
No one ever talks about that.

Bartering with cigarettes and spirit bottles?! I am assuming it won’t be the apocalypse

FWIW I doubt much will happen & even if it did you wouldnt notice it much.

The UK doesn't produce enough food to feed the whole of the population, we produce less than 60% of what we need and the rest is imported. With a weak pound and a slow down in cross-border trade, the prices on those imported foods will increase and it will be by a noticeable amount. Some foods won't be imported at all as the cost of the imports will mean there is no value in doing so which means less food coming into the country. Food production within the UK will decrease as more farmers go bankrupt and production costs increase so there will be less food produced domestically and what is produced will noticeably increase in price to cover the increased costs.

There are people already in food poverty now, who rely on food banks, who are one unexpected bill away from tipping point, who are only able to make ends meet by cutting back on meals such as a PP. What will happen to them when prices go up? When food bank referrals increase but food bank donations decrease and they're unable to feed everyone who is referred? When their position if just about managing suddenly becomes one of poverty?

My fear is that having worked hard to repair our house, build a settled home for my children and hope for the future we loose everything. Home repossessed, huge debt, living in a b&b with my childrens future in pieces, and all because people are foolish enough to belive the lies of Boris and co.