Cost of living – live: Interest rates soar to 27-year high; UK forecasted to face 15-month recession – with inflation expected hit highest level since 1980

19 comments

  1. I think the only good outcome at this point is that whoever ends up PM can’t command their party and is forced to call a GE.

    We get a Labour or joint government Lab/Lib Dem or something, cut the lower tax rate back to 10%, increase the top rate by like 0.000001% to achieve the same income, nationalize some energy companies, etc.

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    But that is a perfect scenario which we never get.

  3. But guys *guys*, imagine how much worse it’d be with Labours fully costed manifesto and lack of wanting the bodies to pile up in their thousands… /s

  4. Interest rates haven’t hit a 27 year high. The **increase** of 0.5% was the biggest increase in 27 years.

    A 1.⁷⁵ base rate is still tiny, historically speaking.

    Who writes this nonsense?!

  6. Been around since the 60s and this is by far the worst I have ever known it. I haven’t really been affected by economic problems in the past simply because I always had a job, may have been a little worse off because of them but never really noticed.

    People on lower incomes are going to be in a constant state of stress when even turning on a light bulb is a decision and the cheapest items in the supermarket start to look expensive.

  7. Nice to see that the Torries are taking us back to last century. Don’t worry though, if you have money then you’ll still have. If you don’t have money then you’ll be dead. Chin up.

  9. Can we all cut the bullshit that Labour ‘can’t be trusted with the economy’?

    This is so bad – even in 2008 it wasn’t this bad – a recession with the cost of energy/fuel? This is going to last ages.

  10. This has nothing to do with Brexit folks even though we are bottom of the G7 it has nothing to do with brexit, ok?

  12. The world and the country has been on a knife edge for a long time, wealth inequality has been building and building and the bubble is about to burst.

    Anyone want to join a gang when the mad max distopian future hits?

  15. Don’t worry folks, the government will solve this nice and quick…by taking money off the poorest and giving it to the wealthiest, as they did during the previous recession (and the 10 years that followed)

    It went so wonderfully last time, why not repeat it?

  16. Can anyone tell me: does this increase the risk that the people who have put an offer in on my house will pull out? (I’m pretty sure they’ve already had a mortgage offer)…I am shitting myself that I might lose our ‘forever house’.

    All the queries have been answered and just the other day our solicitor sent a request for a completion date to our buyer.

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