There will not be a crash unless the Mortgage lenders decide that properties are overvalued and/or people can no longer afford the same multiples on earnings and restrict lending criteria.
Prices seem crazily high to me. Particularly in London.
I had a look for a new deal on my gas and electric yesterday. I wasnt going to commit to one until the government announce their support for consumers today, I currently pay £124 per month, fixed until the end of March. They offered me 4 options which varied between £300 fixed until Feb next year, £275 with boiler cover, fixed for 2 years, £275 without boiler cover also fixed for 2 years, or £147 if I dont commit to a deal and revert to the standard variable tariff.
I had a quick look this morning. Fixed for 1 year is now £285 Fixed for 2 years £262 Standard variable £224.
Today. No rates quoted for fixed 12 months. Fixed 2 years has increased to £346. Standard variable £225.
Latest. 12 months £404 24 months £287 Standard variable £224.
I certainly can't predict the future.
But that 12 month figure looks unattractive. Particularly when you know the 1st 6 months you will be paying over £1,000 over the odds. How big would the October rise need to be for that to be worthwhile!
The 24 month one? Not great, unless the penalty for leaving it early is low...
The early exit fee for the 24 month deal is £300. I just dont understand it. If further price increases are expected in October, then shouldnt you expect the longer term deal to be more expensive, and the rate for the shorter term deal to be lower. Yet from the time I started posting them the 24 month deal has increased from £275 to £287, and 12 months from £300 to £404.
The standard variable has increased from £147 to £224, but that doesnt matter because you are obviously stuck with whatever they say it is.
The theory behind it is this.
It is believed rates will rise fairly sharply in October. And then reduce in price in 2023.
That is why the 2-year rate is lower. And the Government wants to "loan" us money.
I'm a cynic. Prices just don't seem to have the same urgency when it comes to going in a downward direction...
Shock for families as energy bills are set to soar to £2,800 as forecasters warn price cap is likely to rise
As the Chancellor pledged to make green energy schemes cheaper for homeowners, the Office for Budget Responsibility (OBR) said price cap was likely to rise by another 42 per cent in October.
Electric car boom will hit revenues from fuel tax prompting rumours ministers will find new ways to raise money
The Office for Budget Responsibility predicts electric vehicles will make up 59 per cent of all new vehicle sales by 2026/27 - up from the previous forecast of 29 per cent, eating into tax revenue.
The 5p "cut" in fuel annoys me. It is nothing of the sort.
In the last year, petrol has gone up by over 30p per litre. And diesel by over 40p per litre. They were both about £1.35 a year ago. a 10% rise last month.
How much does the Government rake in? Firstly, there is a flat rate of 57.95p per litre for both petrol and diesel (temporarily reduced to 52.95p per litre). And a 20% VAT on the TOTAL price, including the flat rate. So-at £1.65 per litre, more than half of that cost goes direct to the Government. And that is before taxes levied on fuel suppliers costs and profit.
It costs about £90 to fill up a petrol car (55 litres) and £95 for a diesel. Before yesterday, about £50 per tank went to the Government. The reduction yesterday? Just over £3.00 per full tank. Less than the windfall via increased prices.
Will someone please vote out this set of shysters at the earliest opportunity.
The 5p "cut" in fuel annoys me. It is nothing of the sort.
In the last year, petrol has gone up by over 30p per litre. And diesel by over 40p per litre. They were both about £1.35 a year ago. a 10% rise last month.
How much does the Government rake in? Firstly, there is a flat rate of 57.95p per litre for both petrol and diesel (temporarily reduced to 52.95p per litre). And a 20% VAT on the TOTAL price, including the flat rate. So-at £1.65 per litre, more than half of that cost goes direct to the Government. And that is before taxes levied on fuel suppliers costs and profit.
It costs about £90 to fill up a petrol car (55 litres) and £95 for a diesel. Before yesterday, about £50 per tank went to the Government. The reduction yesterday? Just over £3.00 per full tank. Less than the windfall via increased prices.
Will someone please vote out this set of shysters at the earliest opportunity.
The 5p "cut" in fuel annoys me. It is nothing of the sort.
In the last year, petrol has gone up by over 30p per litre. And diesel by over 40p per litre. They were both about £1.35 a year ago. a 10% rise last month.
How much does the Government rake in? Firstly, there is a flat rate of 57.95p per litre for both petrol and diesel (temporarily reduced to 52.95p per litre). And a 20% VAT on the TOTAL price, including the flat rate. So-at £1.65 per litre, more than half of that cost goes direct to the Government. And that is before taxes levied on fuel suppliers costs and profit.
It costs about £90 to fill up a petrol car (55 litres) and £95 for a diesel. Before yesterday, about £50 per tank went to the Government. The reduction yesterday? Just over £3.00 per full tank. Less than the windfall via increased prices.
Will someone please vote out this set of shysters at the earliest opportunity.
The 5p "cut" in fuel annoys me. It is nothing of the sort.
In the last year, petrol has gone up by over 30p per litre. And diesel by over 40p per litre. They were both about £1.35 a year ago. a 10% rise last month.
How much does the Government rake in? Firstly, there is a flat rate of 57.95p per litre for both petrol and diesel (temporarily reduced to 52.95p per litre). And a 20% VAT on the TOTAL price, including the flat rate. So-at £1.65 per litre, more than half of that cost goes direct to the Government. And that is before taxes levied on fuel suppliers costs and profit.
It costs about £90 to fill up a petrol car (55 litres) and £95 for a diesel. Before yesterday, about £50 per tank went to the Government. The reduction yesterday? Just over £3.00 per full tank. Less than the windfall via increased prices.
Will someone please vote out this set of shysters at the earliest opportunity.
The 5p "cut" in fuel annoys me. It is nothing of the sort.
In the last year, petrol has gone up by over 30p per litre. And diesel by over 40p per litre. They were both about £1.35 a year ago. a 10% rise last month.
How much does the Government rake in? Firstly, there is a flat rate of 57.95p per litre for both petrol and diesel (temporarily reduced to 52.95p per litre). And a 20% VAT on the TOTAL price, including the flat rate. So-at £1.65 per litre, more than half of that cost goes direct to the Government. And that is before taxes levied on fuel suppliers costs and profit.
It costs about £90 to fill up a petrol car (55 litres) and £95 for a diesel. Before yesterday, about £50 per tank went to the Government. The reduction yesterday? Just over £3.00 per full tank. Less than the windfall via increased prices.
Will someone please vote out this set of shysters at the earliest opportunity.
Comments
As the Chancellor pledged to make green energy schemes cheaper for homeowners, the Office for Budget Responsibility (OBR) said price cap was likely to rise by another 42 per cent in October.
https://www.dailymail.co.uk/news/article-10645825/Energy-bills-set-soar-2-800-forecasters-warn-price-cap-likely-rise.html
The Office for Budget Responsibility predicts electric vehicles will make up 59 per cent of all new vehicle sales by 2026/27 - up from the previous forecast of 29 per cent, eating into tax revenue.
https://www.dailymail.co.uk/news/article-10646109/Electric-car-boom-hit-revenues-fuel-tax-ministers-new-ways-raise-money.html
In the last year, petrol has gone up by over 30p per litre. And diesel by over 40p per litre. They were both about £1.35 a year ago. a 10% rise last month.
How much does the Government rake in? Firstly, there is a flat rate of 57.95p per litre for both petrol and diesel (temporarily reduced to 52.95p per litre). And a 20% VAT on the TOTAL price, including the flat rate. So-at £1.65 per litre, more than half of that cost goes direct to the Government. And that is before taxes levied on fuel suppliers costs and profit.
It costs about £90 to fill up a petrol car (55 litres) and £95 for a diesel. Before yesterday, about £50 per tank went to the Government. The reduction yesterday? Just over £3.00 per full tank. Less than the windfall via increased prices.
Will someone please vote out this set of shysters at the earliest opportunity.
"The biggest cut to fuel duty rates ever".
So nearly right. 1 letter out...
https://www.msn.com/en-gb/news/world/petrol-stations-pass-on-just-2-71p-of-sunak-s-5p-fuel-duty-price-drop-to-drivers-data-shows/ar-AAVv4WJ?ocid=msedgntp&cvid=cd01fbd2e62c4cb38aa8dac41bd86875
The "easiest" way? Possibly
Prioritising homeowners rather than the poor, due to getting a better return for Tory voting? Definitely.
https://www.msn.com/en-gb/money/news/petrol-station-owner-fury-at-having-to-charge-a-staggering-2-20-per-litre-unethical/ar-AAVzFjE?ocid=msedgntp&cvid=ecadaceff9114b038596c7c04c2a165b
https://www.msn.com/en-gb/money/other/fury-as-petrol-stations-refuse-to-pass-on-rishi-sunak-s-fuel-duty-cut/ar-AAVA55B?ocid=msedgntp&cvid=c1dbe429e6b14e18814bf1aa5b09e547
https://www.msn.com/en-gb/money/other/how-much-will-your-electricity-bills-go-up-by/ar-AAVADtV?ocid=msedgntp&cvid=c1dbe429e6b14e18814bf1aa5b09e547