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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

OP posts:
Original poster
onthefencesitter · 03/08/2022 20:52

What can we do to protect ourselves and our communities?

I have a friend who thinks that it will be 20% because of the Conservative candidates' incessant drive to cut taxes to appeal to their electorate i.e. tax cuts mean more disposable income so people will spend more.

www.theguardian.com/politics/2022/jul/31/rishi-sunak-pledges-20-tax-cut-by-end-of-decade-in-last-gasp-pitch-to-members
www.theguardian.com/politics/2022/jul/31/rishi-sunak-pledges-20-tax-cut-by-end-of-decade-in-last-gasp-pitch-to-members

OP posts:
Thisismynamenow · 03/08/2022 20:56

It's absolutely terrifying, particularly as prices are actually going up much more in reality

UxbridgeVoteBJOut · 03/08/2022 20:59

Very Likely true. I dunno what to say. Was always likely after economic decisions made in 2020 & 2021. Ukraine war just tipped it into near certainty.

ps: speaking as a leftie, Guardian is very scare-mongering news outlet.

Original poster
onthefencesitter · 03/08/2022 21:00

UxbridgeVoteBJOut · 03/08/2022 20:59

Very Likely true. I dunno what to say. Was always likely after economic decisions made in 2020 & 2021. Ukraine war just tipped it into near certainty.

ps: speaking as a leftie, Guardian is very scare-mongering news outlet.

I meant to add this link too: www.newstatesman.com/business/economics/2022/08/liz-truss-tax-cuts-economic-policies-trussonomics

And also included the independent.

OP posts:
Original poster
onthefencesitter · 03/08/2022 21:00

Also the times www.thetimes.co.uk/article/prepare-for-15-inflation-next-year-britain-warned-hcxq007gr

OP posts:
dhair · 03/08/2022 21:01

Isn't it there already?

Orangesandlemons77 · 03/08/2022 21:02

I anyone else really worried about LIz Truss being the next PM?

dhair · 03/08/2022 21:03

the chickens have come home to roost: decades of wage stagnation, no investment in skills & then Brexit so now we have a super tight job market. The good times are over & living standards are now on a decline for the foreseeable

Original poster
onthefencesitter · 03/08/2022 21:05

Orangesandlemons77 · 03/08/2022 21:02

I anyone else really worried about LIz Truss being the next PM?

barring a miracle, she would be the next PM. The membership hate Rishi and think he is a socialist. They are a very small percentage of the electorate- 70% male, mainly living in the SE and the outer boroughs of London, generally on the older side too, higher than average incomes.

OP posts:
dhair · 03/08/2022 21:06

I actually agree with Rishi & don't think we can cut tax as services are at breaking point & with an ageing population only going to get worse. However they could focus on wealth rather than just income

Svara · 03/08/2022 21:06

I'm buying what I might need now, as far as finances allow on a low income, as prices will only go up. Food, clothes, blankets and so on, won't lose value (to me) like money will. Tomorrow's necessities at today's prices.

Preparing for minimal heating this winter (even though I am on a fix just above the cap so won't see the October rise). Gas money is money gone, blankets do for many winters.

Growing food, sharing, swapping food.

dhair · 03/08/2022 21:08

I anyone else really worried about LIz Truss being the next PM?

yep

Svara · 03/08/2022 21:09

What can we do? Only ride it out I guess? The parasite class don't care!

dhair · 03/08/2022 21:09

we will all just get poorer, don't forget the frozen tax bands & the rich will get richer.

RainyDays22 · 03/08/2022 21:11

We will all just freeze to death and die, don't worry though because Rishi will still be able to afford to heat his swimming pool.

MarshaBradyo · 03/08/2022 21:12

I always thought the after the period of huge spending by Johnson would see a shift to the right

And that we shouldn’t have thrown so much at Covid as we now lack resilience

So I’m not surprised but I think we’ll likely see a tougher stance on strikes

dhair · 03/08/2022 21:13

And that we shouldn’t have thrown so much at Covid as we now lack resilience

were you anti lockdowns?

likeminded · 03/08/2022 21:14

Orangesandlemons77 · 03/08/2022 21:02

I anyone else really worried about LIz Truss being the next PM?

Nope. I would rather have her than Rishi. My NI (tax) has just gone up by 1.25%. I haven't had a payrise so this means I am paying more tax. In the meantime, benefits are going to go up by at least 10%. It doesn't make sense to tax people more who are in work then handing that money to people who work part time or not at all. Might as well give up work and get a 10% increase in income. And Rishi caused a lot of this inflation by spunking taxpayers money on various pandemic schemes. I really don't want him as PM.

Cameleongirl · 03/08/2022 21:14

Oh great, we’re heading back to 1970’s inflation rates. I was curious and did a quick Google that told me that the inflation rate reached 24.21% in 1975. 🥹 Under a Labour govt. of all things. The 1970’s were also a tough decade globally…just like now.

dhair · 03/08/2022 21:15

Tbh I think if it wasn't for the furlough scheme some things would be much worse. Look at the airlines & how they are struggling to upscale their businesses again after letting so many go.

dhair · 03/08/2022 21:16

Oh great, we’re heading back to 1970’s inflation rates.

One thing that's forgotten about the 70s was the huge growth in wages.

MarshaBradyo · 03/08/2022 21:16

dhair · 03/08/2022 21:13

And that we shouldn’t have thrown so much at Covid as we now lack resilience

were you anti lockdowns?

I don’t think so at the beginning but the sheer scale of spending was troubling as it went on. Furlough initially was only meant to be for 8 weeks iirc

We’re in a harder place to deal with the war which really is hitting everyone badly

Listening to an economist talk about the resulting lower resilience struck a cord

MarshaBradyo · 03/08/2022 21:17

Or chord..

dhair · 03/08/2022 21:19

But what was the alternative to paying people some of their salaries because the decision was to close down industries. Lots of the "excess" money floating around has come from the better off who saved huge sums.

The stamp duty holiday was a mistake.

MarshaBradyo · 03/08/2022 21:19

Cameleongirl · 03/08/2022 21:14

Oh great, we’re heading back to 1970’s inflation rates. I was curious and did a quick Google that told me that the inflation rate reached 24.21% in 1975. 🥹 Under a Labour govt. of all things. The 1970’s were also a tough decade globally…just like now.

A Labour government won’t be particularly immune because of a wage spiral