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UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

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Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

#21

Post by yourusername »

mellosouls wrote: post #13
CommanderData wrote: post #9

We have a corrupt government and media that itch each others back. There's still a complete lack of urgency. A potential new prime minister trying to defend profits of energy companies recently on TV just shows you the Modus operandi of the political class. It might push people to riots in the streets.

Didn't happen with the bankers 10 years ago, I'm not sure that normal people have the inclination or fight.

While a lot of people lost money during the banking crisis a lot of people were unaffected. The current inflation crisis means the bottom quartile will probably start to go hungry and be unable to afford to heat their homes. It's not like those people were saving 20-30% of their income 2 years ago and they're now spending 20% of their income on heating and their groceries got 20% more expensive and fuel (for driving) increased by 50-100%.

Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

#22

Post by gyre007 »

CommanderData wrote: post #9

We have a corrupt government and media that itch each others back. There's still a complete lack of urgency. A potential new prime minister trying to defend profits of energy companies recently on TV just shows you the Modus operandi of the political class. It might push people to riots in the streets.

I don’t believe Brits are capable of revolting against this. They did hit the streets in anti-lockdown protests though, which is ironic because in the grand scheme of things that (lockdown) was temporary, but this inflation wave will be madly felt for quite long.

Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

#23

Post by pydry »

TrackerFF wrote: post #20

Hopefully the current energy crisis (in Europe) will further accelerate development in renewable energy. Seems much of Europe is still chained to LNG, and that demand is even wreaking havoc in countries which have been previously quite self-sustained, or really don't use LNG much themselves - with Norway being a good example.

Unfortunately we'd need another 5 years to really make a difference whereas the gas crisis is going to hit us in months.

Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

#24

Post by toomuchtodo »

breckenedge wrote: post #12
LatteLazy wrote: post #3

A Mix of Brexit, an aging population, massive underinvestment in basically everything, covid mishandling and huge debt means the UK is around year 0 of a lost decade. I will leave if I can.

Since this is also related to higher energy prices, do you think the invasion on Ukraine is also a contributing factor? Although if that were the case, we’d also see as high of inflation in other European countries?

Moving to a European country with less industry and a moderate climate closer to the Med would blunt energy costs for someone (lower energy demand = less energy spend).

Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

#25

Post by rsynnott »

breckenedge wrote: post #12
LatteLazy wrote: post #3

A Mix of Brexit, an aging population, massive underinvestment in basically everything, covid mishandling and huge debt means the UK is around year 0 of a lost decade. I will leave if I can.

Since this is also related to higher energy prices, do you think the invasion on Ukraine is also a contributing factor? Although if that were the case, we’d also see as high of inflation in other European countries?

That's definitely a contributor, but, as you say, it's generally worse in the UK than in other large European countries. This whole thing is a bit of a perfect storm for the UK.

Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

#26

Post by throwaway6734 »

LatteLazy wrote: post #3

A Mix of Brexit, an aging population, massive underinvestment in basically everything, covid mishandling and huge debt means the UK is around year 0 of a lost decade. I will leave if I can.

I understand where you're coming from, but try not to get too pessimistic. The UK has made i through much worse and come out the other end.

Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

#28

Post by Aromasin »

twelfthnight wrote: post #16
LatteLazy wrote: post #3

A Mix of Brexit, an aging population, massive underinvestment in basically everything, covid mishandling and huge debt means the UK is around year 0 of a lost decade. I will leave if I can.

Honest question: Where would you go?

I've recently started the move over to the Netherlands. The things that were keeping me in the UK (the last vestiges of our socialist governmental policies) have been torn to shreds by the current Tory government. I've also lost any hope that the British public will try to fight for it back. It feels like people are accepting a slip back into feudalism with open arms.

Re: UK inflation forecast to hit 18.6% next year, energy bills may rise to £6000

#29

Post by Symbiote »

rvieira wrote: post #18

I live in the north of England where temperature varies from 38F in Jan to 57F in August. It's pretty chilly for me, so I tend to spend a considerable amount of gas throughout the year. I'm renting a house, so deep work like insulation gets complicated. My point is that even with a comfortable salary, I will feel ~£600/month in energy. I can only fear for people that earn much less than me.

Why have you converted the temperatures to Fahrenheit? It hasn't been used in BBC weather forecasts in Britain since the 1960s.
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