Martin Lewis telling us how financially awful the future looks.

Casdon

Chestnut

MaizieD

Well who’s to say action won’t be taken come September?

Well, for a start, I'd say anybody who has lived through tory governments since 1979.... particularly the last 6 years when the tories have contrived to make the whole of the UK poorer with its ludicrous Brexit and has manged to increase the number of people living in poverty.

I don't believe in the triumph of hope over experience...

You can hardly blame the Tories for Brexit. They were delivering what the people voted for, whilst battling a pandemic at the same time. A perfect storm really. Things are so bad now I don't think anyone could fix our problems by September.

You must have posted that tongue in cheek Chestnut. Had the implications of Brexit been fully explained before the referendum, and had a proper No to Brexit campaign been led by Cameron, Brexit would not have happened. It wasn’t the will of the people, it was the ignorance of the people. I blame the Tories 100% for Brexit.

Agreed - it was the ignorance of the people being led to believe that if we voted to leave "them foreigners who take all our jobs will be on the next plane home", and the "£millions paid to the EU would be spent on the NHS" etc .... 100% a deliberate ploy by the Tories, and look where it has left us, as well as being a laughing stock!

Apparently the roots of Brexit can be traced directly back to the Reformation, especially the idea that as an island nation we are somehow "special" and therefore separate from Europe. A rhetoric used to rally the nation and which has been employed for centuries, from seeing off the Armada, fighting Napoleon, standing alone in 1940 in WW2, saying No to Maastricht and finally culminating in Brexit.

There's a fine few myths in that little lot! The weather saw off the Armada, we didn't fight Napoleon alone, we fought with the Portuguese and Spanish in the Iberian peninsula and with with Prussians, Hanoverians & Belgians at Waterloo. And we certainly didn't stand alone' in WW2.

Was she destroying these myths or perpetuating them?

Sadly, it was our unjustified belief in our exceptionalism, the overweening conceit of it, that motivated me to vote Remain twice!

Sorry, derailing...

But I agree, come September, whichever of the contenders is in place as PM, they will be completely ineffectual because their interest is in destroying the state, not making it effective.

Urmstongran

Hah! He’s on a winner then isn’t he?

And let’s not forget it’s not just the UK! Europe is experiencing one of the most significant energy crises in recent years.

You're obviously not a Lewis convert. . Lol.

Yes he can be emotional and a bit excitable but there's no doubting his sincerity. He is passionate about teaching people about finance, even to the point of trying to get personal finance to be taught as part of the national curriculum,

As I have said before he saved me from bankruptcy. If I had known at 20 what he taught me at 55 I would be a multi millionaire by now. ??.

Over the years I have saved tens of thousands thanks to his website.

I seriously wish he would go into politics because whether you like him or not he is straight as they come. And he knows his stuff.

I watched a fascinating programme last night. Lucy Worsley, great myths of history. All about Henry VIII and the Reformation.

Apparently the roots of Brexit can be traced directly back to the Reformation, especially the idea that as an island nation we are somehow "special" and therefore separate from Europe. A rhetoric used to rally the nation and which has been employed for centuries, from seeing off the Armada, fighting Napoleon, standing alone in 1940 in WW2, saying No to Maastricht and finally culminating in Brexit.

History does have a habit of repeating itself. Which is why we need to take heed.....recession is looming and it's going to be a big one.

Martin Lewis is not doom mongering any more than Churchill was war mongering. They both could see the writing on the wall.

I would like to think that, come September, the new PM will be able to pull some rabbits out Of the hat. But sadly I doubt it.

I've long been a "fan/follower" of Martin Lewis.
I can't answer the OP's question, But, in the past ML has claimed credit for things done by the recent-past Chancellor, so, who knows?
I remember ML & RS having a discussion on TV.

It maybe a global issue but individual states deal with it in different ways. Perhaps * Urmstongran* or others who think there’s nothing we can do about it explain why France’s energy cost to the the consumer has gone up 4% whilst the UKs has gone up 54%?? Could it be because the French government have nationalised EDF?

I approve of Martin Lewis too. Anyone who reads his website will see the thousands of people he has helped fight their way back from debt and he has shown them the tools they need to help manage their financial affairs. He looks at the so-called deals and offers touted by financial companies and helps you understand if they would benefit you in your circumstances, or if they have major drawbacks. I find it difficult to see him in a political arena - he's far too down to earth. He'd probably just get ignored or pushed aside by those lining their own pockets.

Martin Lewis is great, I think.
Who else informs people of the latest and best deals in almost everything, for nothing?
We could do with more like him, although they'd need a magic wand to find any good deals these days.

You can hardly blame the Tories for Brexit.

I can blame them for the utter mess they made of it. And their complete lack of interest in the consequences.

They were delivering what the people voted for, whilst battling a pandemic at the same time. A perfect storm really.

They were still in the transition period during 2020, the height of the pandemic and lockdowns.. They could have extended the transition period but insisted on it ending in Jan 2021. They caused their own problems; I've no time for their pathetic excuses

Things are so bad now I don't think anyone could fix our problems by September.

It's not as though it's suddenly come upon us, signs have been clear for ages. The 'help with energy costs' came far too late and is inadequate. They really aren't bothered.

Chestnut

MaizieD

Well who’s to say action won’t be taken come September?

Well, for a start, I'd say anybody who has lived through tory governments since 1979.... particularly the last 6 years when the tories have contrived to make the whole of the UK poorer with its ludicrous Brexit and has manged to increase the number of people living in poverty.

I don't believe in the triumph of hope over experience...

You can hardly blame the Tories for Brexit. They were delivering what the people voted for, whilst battling a pandemic at the same time. A perfect storm really. Things are so bad now I don't think anyone could fix our problems by September.

You must have posted that tongue in cheek Chestnut. Had the implications of Brexit been fully explained before the referendum, and had a proper No to Brexit campaign been led by Cameron, Brexit would not have happened. It wasn’t the will of the people, it was the ignorance of the people. I blame the Tories 100% for Brexit.

MaizieD

^Well who’s to say action won’t be taken come September?^

Well, for a start, I'd say anybody who has lived through tory governments since 1979.... particularly the last 6 years when the tories have contrived to make the whole of the UK poorer with its ludicrous Brexit and has manged to increase the number of people living in poverty.

I don't believe in the triumph of hope over experience...

You can hardly blame the Tories for Brexit. They were delivering what the people voted for, whilst battling a pandemic at the same time. A perfect storm really. Things are so bad now I don't think anyone could fix our problems by September.

Urmstongran

Hah! He’s on a winner then isn’t he?

And let’s not forget it’s not just the UK! Europe is experiencing one of the most significant energy crises in recent years.

I doubt very much that he's looking to be a "winner".

And what does what's happening in Europe have to do with it? (Other than being an attempt to distract.)

Well who’s to say action won’t be taken come September?

Well, for a start, I'd say anybody who has lived through tory governments since 1979.... particularly the last 6 years when the tories have contrived to make the whole of the UK poorer with its ludicrous Brexit and has manged to increase the number of people living in poverty.

I don't believe in the triumph of hope over experience...

Hah! He’s on a winner then isn’t he?

And let’s not forget it’s not just the UK! Europe is experiencing one of the most significant energy crises in recent years.

I guess that's why he said "unless". Hopefully, some action will be taken, but he's not wrong to highlight the consequences if it's not.

Yes okay - I amend my comment. Doomster was too strong a word. Economic realist is much more accurate but he’s a very emotional man and I do think his MO is to whip up anxiety. As he says “unless action is taken” blah blah. Well who’s to say action won’t be taken come September?

Urmstongran

He’s a bit of a doomster in my opinion. Mind you, if everything was hunky dory he’d be out of a job so it’s in his interests to promote financial Armageddon.

Can you tell us when his predictions have been way off beam before Urmstongran? I get the impression that he’s just a realist, not a doomster.

Urmstongran

He’s a bit of a doomster in my opinion. Mind you, if everything was hunky dory he’d be out of a job so it’s in his interests to promote financial Armageddon.

Martin Lewis has been advising people how to make the best of their finances for years through many ups and downs of the economic climate. He's been positive where appropriate and negative where necessary.

In 2012 he sold his business for £87 million. He's made for life. He doesn't have to promote any agenda in order to stay 'in a job'. He has no motive for being a 'doomster' - he's just telling it how he, in his expert opinion sees it in order to help others.

Being falsely positive, rubbishing people who tell the truth and dismissing the downsides of things doesn't make them go away or absolve the people making mistakes of their failings.

MaizieD

Wonderful though Martin Lewis is he is not a miracle worker. He is in despair ATM because, he has said several times recently, there is nothing further he can offer to help people.

Yes I heard that.

It's no comfort but the reality is it's not just the U.K. that's struggling. It's global. As I said above, we are heading for a very serious recession. The US is slightly ahead of us but it's heading our way.

All we can do is batten down the hatches and ride it out but I reiterate there are going to many who are going to really struggle and possibly go under.

Energy bills set to top £3k a year, no wonder many will have to decide whether to heat or eat. We are going backwards not forwards, 1950s austerity Britain revisited,

Wonderful though Martin Lewis is he is not a miracle worker. He is in despair ATM because, he has said several times recently, there is nothing further he can offer to help people.

Not really convinced renationalising the energy companies is the way forward back to no choice where we purchase our energy from
Even Keir Starmer is not in favour of this

The point of renationalisation is that it cuts out a whole level of profit that is not reinvested but is paid out to shareholders as dividend and as highly inflated salaries to the upper end of the management hierarchy. The current costs have these factored in. Remove them. Public goods shouldn't be an investment opportunity.

Utilities were privatised because it was a political choice. Just as it was a political choice not to upgrade their infrastructure.

I don't really care if Kier Starmer appears to be in favour or not. He has other considerations to take account of, such as the weight of the dominant right-wing press's anti Labour propaganda. He isn't giving hostages to fortune.

In case people aren't aware, Martin Lewis has produced a booklet (funded by him) on mental health connected to debt problems.

www.moneysavingexpert.com/credit-cards/mental-health-guide/

He can't wave a magic wand, but he does show how debt can be broken down into small steps and managed. It could literally be a life saver for some people.

As for The Blessed Martin Lewis (all hail) he was the first person who helped me get my head round proper money management. He literally saved my bacon when I was facing bankruptcy. (No fault Of my own, it wasn't down to frivolous mismanagement of my finances. It was my husbands long illness that destroyed our finances).

But with the guidance of his website I was able to avert disaster and rebuild my finances.

I don't think he is a doom monger, I just think he is a down to earth realist. Haven't yet read the link but the sad truth is we ARE heading for a very serious recession, and many ordinary innocent people are going to be wiped out.

I think one of the reasons that the utilities, the railways and post office were denationalised in the first place was because our infrastructure is so antiquated and our systems are so outdated. The government of the day dodged their responsibilities to upgrade and just kicked the can further down the road. Now we are Paying the price.

We need to modernise.......but it's going to be a monumental task and neither the government nor the private owners are prepared to grasp the nettle. ,

MaizieD

rosie1959

Quite easy to point out the facts as he sees them but financial solutions not so easy

We could control fossil fuel prices or renationalise the industries so that they're not paying ridiculous CEO salaries and dividends to shareholders to be siphoned off into tax havens. Tax them a bit more and give more support to those who cannot afford to pay swingeing price increases.

In the longer term, invest seriously in renewable energy. Invest in public transport to cut car usage. Ban advertising that encourages the unnecessary use of fossil fuel based energy. Educate the public...
This isn't just a cost of living crisis, it's a climate emergency and government should be prepared to take radical measures to deal with it, as they would in, say, a war.

Not really convinced renationalising the energy companies is the way forward back to no choice where we purchase our energy from
Even Keir Starmer is not in favour of this

Whoever, has a very difficult job, no easy solutions. It’s world wide problem. We do need to concentrate on the important issues and not those ridiculous exchanges in the house to rid Boris.