Anger at forth coming COL crisis

[MyCheekyEagle]

Of course I understand that the ME war is going to have an impact on oil prices & that will get passed onto the already struggling families; but when things stabilise again & maybe oil prices reset the greedy corporatez never pass this saving back to customers fo they. They just think as we've got used to these new higher prices we'll just keep them there. This thought has given me the rage most of today!
Just needed to vent somewhere, thanks if you listened..

Blame Milliband

send your mp an email demanding they break the link between energy prices and oil and gas.

it would lower household and business energy prices which in turn would lower prices on everything else.

its such a simple move, that just needs to get enough people asking for it.

the oil companies would be the only losers.

You mean continue the push for net zero ?

Ideally yes but don’t need to link it if you’re a reform loon.

just better energy prices for the many rather than high gas profits for the few.

The utility that has gone up the most, far greater than anything else is heating oil. It's more than doubled!! Imagine if that suddenly happened to everyone's gas bill, but because towns are not affected it seems to be left without any price cap. There's millions of people who rely on heating oil. I really don't know how they will cope 😢 The only good thing I can think of is that Spring and warmer weather should be here soon.

I never said the Tories were better - they weren't, I was merely countering the argument that Blair/Brown had "low and stable" deficits, which was a false statement.

Indeed, Reeves is coining it in because of VAT which is a tax on top of the real fuel price and on top of fuel duty. Double taxation at it's worse. When prices go up, she gets a nice windfall due to the extra VAT. If she and Starmer are serious about "helping" people due to the COL crisis, they could reduce fuel duty TODAY or reduce the rate of VAT on fuel, back to the levels of tax revenue they received a couple of weeks ago which would be an "easy fix" to stop ordinary people being squeezed further.

I'm on heating oil...needless to say, I can't afford to fill the tank at the current prices so the heating is off and I use the electric shower. It's really scary how the oil companies can charge us whatever they want.

This shows the price has gone from 60ppl to £1.40pl...and climbing. The Government have to do something.

I’m guessing that doesn’t show Blair and Brown’s PFI deals, which were a “great” way of spending a ton of money, but keeping it off the books.

True they will be, the tax is very high.

Sounds good but the Tory 5p cut wasn't passed on fully or for many retailers, at all.

Look at Supermarket margins on fuel, have doubled since Ukraine.

We would need a price cap for tax cuts to work for the consumer.

Yes Reeves gets extra tax, and she needs it, the debacle on ships, anti missile systems etc etc needs addressing and that costs 10s of billions.

It wasn’t false. The graph shows it quite clearly.

The best thing the government could do is set petrol prices like other countries do. In Malta every petrol station sells at the same price. It’s morally deficient in many respects but it stops profiteering.

It shows the debt growing between the dates I mentioned, so NOT "low and stable".

I think you re being a bit of a sore loser here, any Govt in any European country, maybe even globally, would give their eye teeth to have an economy & debt to GDP we had in 2006.

Why are you being so formal and OTT about this?
Do you honestly not think the massive rise in their profits is odd?

Or do you work for them/own shares?

It was the end of the boom which wasn’t without cost. The bust. It’s like being happy about high risk and a spending spree before the bills come in.

It wasn’t a boom. It was an extended period of economic stability, thanks to the skills of a chancellor widely recognised by economists as one of the best the UK’s ever had. The bust was thanks to reckless lending in the US which affected the entire world.

@Blossomtoes, thanks to Gordon Brown announcing he would follow his (Tory) predecessor's fiscal rules for a Parliamentary term. Ken Clarke and John Major handed over an economy ready to grow, because they had put in the hard yards between 1990 and 1997. And yes, if you were a small business then, times were not easy.

I must have read a completely different article from you in the link that you posted, because it certainly didn’t blame Labour for all the financial cock ups over the last few decades - the Tories get a good kicking too.

The dismal economic performance of the Conservatives in power between 2010 and 2024 has offered Labour the opportunity to portray itself again as the party of economic competence.

Has anything changed since the credit crunch, other than renaming it?

Yanbu

I don’t think they committed to a complete term, I thought it was a couple of years. I’ve just checked, it was until 1999, the detail’s in the link. We had a Labour government for 13 years which oversaw investment and improvement in public services - all that progress was then destroyed by the coalition.

http://news.bbc.co.uk/1/hi/in_depth/uk_politics/2002/blair_years/1959858.stm

At least we had a boom, i also do not recall spending sprees or high risk, nothing like we had after deregulation in the 80s, that was insane.

One thing is certain & cannot be argued against, the Tories ended Boom and Bust, we had 14 years of Bust and its continuing, thanks yet again to the Americans.
The 'rightwing certainly know how to wreck growth.

Any chance we had of improvements in the UK economy have gone now, the impacts of this totally unnecessary war have yet to be felt.

We never recovered from the 08 crash & didn’t invest in much during austerity. Now we are fucked.

High risk was relying on the FS and we got hit hard by the recession.

In any case those selling in the 90s as proof Labour get growth can’t do that now. Most can see that including business owners, who likely now regret voting for them. If they can’t turn it around they’ll likely be out at next GE and relying on Blair will be over.

Even he has talked about Starmer’s failings.