UK economy now comparable to Greece and Italy thanks to Liz Truss

I agree, but think that the economy will improve when the current debacle moves on. Whether it will fully recover is debatable: I have my doubts.

I believe even The Telegraph is beginning to say that Project Fear was actually Project Reality.

Credit where credit's due. It all started at 55 Tufton Street

twitter.com/ByDonkeys/status/1582303415576715265?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet

DaisyAnne

Thanks ... Brexit voters for all they contributed too.

Indeed

It's unlikely the UK economy will fully recover any time soon. Kwarteng and Truss trashed us and now it's clear big cuts are on the way. We shall be paying for their reckless incompetence, especially state pensioners as it is clear from today's news that the triple lock will not be honoured, not to mention mortgage payers having to pay a lot more and no help for most hard working people with their energy bills after April. Thank you Tory Party members and Brexit voters.

And don't forget graduates whose loans will be subject to RPI (currently 12.3%) + 3%.

growstuff

And don't forget graduates whose loans will be subject to RPI (currently 12.3%) + 3%.

I thought student loans had been capped at 6.3%

rosie1959

growstuff

And don't forget graduates whose loans will be subject to RPI (currently 12.3%) + 3%.

I thought student loans had been capped at 6.3%

That's a temporary change and there's absolutely no guarantee it won't revert to the previous system. It will mean that loans are paid back more slowly. However, it's very likely that the loans won't be written off for 35 years (from 30 years), which means that they'll pay back much more. Many graduates don't even earn enough to repay their interest, so the debt just carries on increasing.

That is one thing that I do find odd growstuff I didn’t go to university but both my children have degrees and to me the whole point of getting a degree was to earn a decent income.

rosie1959

That is one thing that I do find odd growstuff I didn’t go to university but both my children have degrees and to me the whole point of getting a degree was to earn a decent income.

Which part of it do you find odd?

Incidentally, I don't agree that "the whole point of going to university is to earn a decent income". Obviously, it is for some, but the wealthy can afford to do degrees for pleasure/fun. Sometimes their parents pay upfront too. Many graduates go on to become teachers, most of whom don't earn anything very special.

Many graduates go on to become teachers, most of whom don't earn anything very special.

A degree is obligatory for a teacher now, isn't it?

Odd is probably the wrong word but if a child or adult takes on the vast cost of doing a degree then I presume they will get a job that reflects their education or like my daughter have the potential to advance in their chosen career
I do remember our daughters time at university cost us a few thousand but my son was working through his and his company paid the fees
If they don’t earn reasonable salaries then they don’t pay it back anyway

MaizieD

^Many graduates go on to become teachers, most of whom don't earn anything very special.^

A degree is obligatory for a teacher now, isn't it?

For most - yes! Although schools get round that by employing people on the cheap.

The point I was making is that many graduates don't become particularly high earners. There's more to a degree than the vocational element anyway, although most young people will want to see a return on their investment.

my son was working through his and his company paid the fees

Many students have parents who can't afford to contribute and there aren't many whose companies pay the fees. Some universities (such as Cambridge) don't allow their undergrads to have term-time employment.

You really don't seem to understand the situation for most students and graduates.

rosie1959

That is one thing that I do find odd growstuff I didn’t go to university but both my children have degrees and to me the whole point of getting a degree was to earn a decent income.

You train for a job. Higher education, in fact all education, is for life not specifically for work.

MaizieD

^Many graduates go on to become teachers, most of whom don't earn anything very special.^

A degree is obligatory for a teacher now, isn't it?

Not only is it obligatory, but to get onto the PGCE, 4th year of study, the candidate had to have some experience working with children. ( May be different now)
I interviewed many graduates for classroom support workers. ( at minimum wage). Some of them were already in low wage temporary jobs. Graduation doesn’t always guarantee a well paid job.