Next warns weaker pound could prolong cost of living pressures

5 comments
  1. Has anyone else noticed how bad the quality of Next clothing is now?

    The last round of underwear I bought last year were so thin, the waistband came off after the first wash on all 4 pairs.

    I’ve bought Next underwear for over 15 years, and they thought I wouldn’t notice

  2. Fuel is the big one that comes to mind. With the pound on it’s arse the price of oil has effectively risen.

    Funny now it’s dropped a little (not nearly enough) and the Tory leadership contest is long over, all calls to cut the tax element seems to have vanished.

  3. Of course. They’ve fucked everyone over.

    * Mortgage payments are going to be higher, rents will follow from BTL landlords
    * Food, clothing, electronics, fuel, anything that’s imported is going to cost more
    * Government borrowing costs have increased which means future taxpayers will have a greater burden to pay off the debt they’re taking on to give a huge tax cut to the rich
    * People’s pensions could be wiped out
    * As fuel will cost more due to the exchange rate, the cost of maintaining the new price cap will be far higher, which also burdens future taxpayers even more
    * If they don’t back out of all of this, then they’re expected to have no choice but to massively cut spending on public services. It will be worse than Cameron’s austerity.

    And what do the people who suffer the most get? A 1% tax cut with an average annual saving of £130. Nowhere near enough to make up for the amount of damage that’s been done.

    From all of this we’re expected to get a boost of 0.1% to GDP. Britain may be slightly richer, but most British people will be a lot poorer.

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