High Inflation.

Casdon

growstuff

Dinahmo

We should not be a service based economy. We have relied too much in the past on the wealth generated by bankers, insurers, etc etc. We should be moving towards an economy that has a larger proportion of manufacturing industries that at present.

We are also very good at the performing arts which get little support from governments but which were a very good source of revenue.

The "services" include restaurants, hairdressers, manicurists, etc. What do you suggest the UK could manufacture at a lower cost than anybody else?

There are definitely some things we could do in the UK that would cut down on imports. Long term, wood is definitely one as we are planting more trees anyway, and we import millions of tons every year. We could also grow more of our own produce, and make better use of our natural resources.

So what should we grow with our home-grown wood and who would buy whatever we produce? Sorry, but I can't see wooden artefacts replacing the money generated by service industries.

Well said Zonne. Completely agree

growstuff

Dinahmo

We should not be a service based economy. We have relied too much in the past on the wealth generated by bankers, insurers, etc etc. We should be moving towards an economy that has a larger proportion of manufacturing industries that at present.

We are also very good at the performing arts which get little support from governments but which were a very good source of revenue.

The "services" include restaurants, hairdressers, manicurists, etc. What do you suggest the UK could manufacture at a lower cost than anybody else?

There are definitely some things we could do in the UK that would cut down on imports. Long term, wood is definitely one as we are planting more trees anyway, and we import millions of tons every year. We could also grow more of our own produce, and make better use of our natural resources.

Aepgirl

People have different priorities these days. Some can’t do without eating out a couple of times a week, having takeaways delivered, 2 holidays a year, huge cars, etc, etc. I think myself lucky that I have a roof over my head, food in my stomach, clothes on my back - something the people of Ukraine don’t have at the moment.

Those same people pay the takeaway chefs' and delivery drivers' wages, who then spend their money on keeping somebody else employed and so it goes on ...

Dinahmo

We should not be a service based economy. We have relied too much in the past on the wealth generated by bankers, insurers, etc etc. We should be moving towards an economy that has a larger proportion of manufacturing industries that at present.

We are also very good at the performing arts which get little support from governments but which were a very good source of revenue.

The "services" include restaurants, hairdressers, manicurists, etc. What do you suggest the UK could manufacture at a lower cost than anybody else?

twiglet77

When I worked full time I always took packed lunch and if driving any distance, or working anywhere without kitchen facilities, I take a flask of coffe and a bottle filled with tap water. My daughters’ generation can’t be bothered and always head straight for Costa or a posher coffee shop or sandwich bar. And wherever they might economise, it won’t be cutting back on nails, hair, brow and lash treatments. It infuriates me and perhaps they are kicking back at the frugalities they grew up with, they don’t live at home and they are high earners, but I have no sympathy if ever they do complain at the cost of living!

How old is your daughter? I don't recognise my daughter in your description.

katy1950

I'm really fed up with the poor me interviews on the TV as they moan about not having enough money to feed the kids yet they have top of the range mobile phone fancy manicures etc they haven't a clue what it's like to be really hard up

Do they have their phones out when they're being interviewed? How do you know they have top of the range phones? And how do you know they didn't do their own nails?

PS. You forgot the mega-widescreen TV and the zillions of takeaways.

I'm really fed up with the poor me interviews on the TV as they moan about not having enough money to feed the kids yet they have top of the range mobile phone fancy manicures etc they haven't a clue what it's like to be really hard up

vegansrock needs must. I dont particularly want to return to the 70's were my parents fed me and my two children twice a week, even if it was just egg and chips. We didn't have a car or even our own telephone. We hardly went out anywhere other than once a week each to an evening class or a hobby. When the circumstances dictate it belts have to be tightened where possible. Itsthose who have nowhere to tighten that I'm.sorry for. I including some of my fellow pensioners.

When I worked full time I always took packed lunch and if driving any distance, or working anywhere without kitchen facilities, I take a flask of coffe and a bottle filled with tap water. My daughters’ generation can’t be bothered and always head straight for Costa or a posher coffee shop or sandwich bar. And wherever they might economise, it won’t be cutting back on nails, hair, brow and lash treatments. It infuriates me and perhaps they are kicking back at the frugalities they grew up with, they don’t live at home and they are high earners, but I have no sympathy if ever they do complain at the cost of living!

Just did an Asda shop of one of the minor items I buy regularly. 42.5% increase on one commodity. Needless to say I'm now on the lookout elsewhere.

People have different priorities these days. Some can’t do without eating out a couple of times a week, having takeaways delivered, 2 holidays a year, huge cars, etc, etc. I think myself lucky that I have a roof over my head, food in my stomach, clothes on my back - something the people of Ukraine don’t have at the moment.

Dinahmo

We should not be a service based economy. We have relied too much in the past on the wealth generated by bankers, insurers, etc etc. We should be moving towards an economy that has a larger proportion of manufacturing industries that at present.

We are also very good at the performing arts which get little support from governments but which were a very good source of revenue.

That was the Thatcher vision, wasn't it, Dinahmo?. Saint Maggie who so many people admire greatly...

She destroyed heavy industry because of the power of those industries' unions and huge swathes of the electorate applauded her. She placed the emphasis on the service sector institutions you list and, as EU members, with access to the Single Market she 'championed', we did very well in terms of GDP.

But now we're out on our own, and the world is a much colder place.. and we still don't support our own industries...

economy!

Dinahmo

WWM2 Profit - for the self employed equates to their "salary" on which they pay Classes 2 and 4 NIC and income tax, depending upon the level of their profits of course.

? yes I do know.

Perhaps you can tell me how a rise in interest rate won’t put further downward pressure on the

WWM2 Profit - for the self employed equates to their "salary" on which they pay Classes 2 and 4 NIC and income tax, depending upon the level of their profits of course.

We should not be a service based economy. We have relied too much in the past on the wealth generated by bankers, insurers, etc etc. We should be moving towards an economy that has a larger proportion of manufacturing industries that at present.

We are also very good at the performing arts which get little support from governments but which were a very good source of revenue.

polnan

not wanting to sound "racist" forgive me if I do, but mentioned above that EU workers don`t want to come here anymore,, but of course, we do have all these illegal migrants... so they will replace the missing workers!

For a start, they are not 'illegal migrants', they are, until proved otherwise, asylum seekers.

And while they are applying for asylum, which can take months and months to decide, they're not allowed to work.

So that rather knocks that one on the head, doesn't it?

Suehappynana

Whitewavemark2

Don’t forget the profit. That’s why they are in business, everything else is an inconvenient expense.

Don't tar all businesses with the same brush!!!
Out of that profit, especially for small independent businesses, is the payment to the owners for their work.
Also out of the profit is tax, which goes towards paying for the public services we all use. It's all interconnected.
That's the reason you pay more for your fish and chips at different places - from your local chippie, cheap and cheerful café or posh restaurant.
Even at the same place (shop, restaurant, online or any business) you pay different amounts at different times with offers etc.
Costing is extremely complicated - as are most things once you start looking into them. I try to avoid commenting on anything I don't know much about....

I’m not tarring businesses. ?. Just saying that you can’t leave the profit motive out of the equation.

It is our economic system.

Whitewavemark2

Don’t forget the profit. That’s why they are in business, everything else is an inconvenient expense.

Don't tar all businesses with the same brush!!!
Out of that profit, especially for small independent businesses, is the payment to the owners for their work.
Also out of the profit is tax, which goes towards paying for the public services we all use. It's all interconnected.
That's the reason you pay more for your fish and chips at different places - from your local chippie, cheap and cheerful café or posh restaurant.
Even at the same place (shop, restaurant, online or any business) you pay different amounts at different times with offers etc.
Costing is extremely complicated - as are most things once you start looking into them. I try to avoid commenting on anything I don't know much about....

Interest rates up to 1%

Highest since 2009.

Trying to suppress inflation. Not quite sure how that will work as the inflation is not home grown.

Why ? SillyNanny321 because they have stables to heat you know!

When my DS was very young & I had separated from my Ex we had very little money. I had Utilities, Mortgage & usual bills still to pay on a very reduced income. We qualified for free school dinners so my DS had a sandwich for tea in the evenings. I had for dinner a boiled egg slice of bread then a slice of bread & cheap jam for tea. we survived & I lost a lot of weight, would not recommend it though. Now being a 77 year old pensioner on basic pension but thankfully getting pension credit I am looking at maybe going back to how I ate all those years ago. My Utilities direct debit has increased from £48 to £170 so have to cut back considerably to afford that. What makes me angry was an article on how much our MP's can claim for! From the article they can claim for their Utilities among many other things - WHY!!!

Germanshepherdsmum

Jane autumn may be a long way off but in the meantime we have the warmer months when heating bills won’t be such a worry.

Heating bills are only a part of it though. We have the long school holidays when children have to be fed and I remember how much my boys used to eat. Electricity costs will also be higher when children are at home all day.

I think a lot of people will either be cutting down on, or cutting out a lot of things that could be considered as treats by some, essential to others and the rise in costs is only just beginning, remember.
It will be interesting to see what the same couple's answer will be in 12 months time!
Sadly I can see that a lot of the businesses that provide the treats that many have got used to , be drastically affected down the line, just as they have been trying to pick up the pieces after the lockdowns.