Cost of Living

[fatboy47]

Hi 47, I thought about it for a while, then decided your post deserved a "like." Yes, there are similarities in seeking to tackle financial challenges as we are experiencing following the end of the pandemic and the challenges BFC faces in meeting the challenges of maintaining a football club in the Premier League and the Championship.

UTC

Totally love your positivity Paul. Wish it was infectious.. I'd love to catch it. We need more of you!

[Boss Hogg]

Landlords provide a service. There are good and bad ones. I used to rent to people on benefits. As soon as rules were changed so the local authority didn’t pay me I didn’t bother and sold them. Paying rent want high on their list of priorities generally. Current rules don’t make it easy to evict bad tenants. Also council housing should not be fold off on the cheap when there is low stock and then these people be allowed to sell on the open market making huge profits.

[Billy Balfour]

Also council housing should not be fold off on the cheap when there is low stock and then these people are allowed to sell on the open market making huge profits.

Aye, and this shower of a govt is talking about selling off more social housing, but this time the buyers can use Housing Benefits to finance the mortgage repayment.

[Smile]

It's not the big increases that surprise me..they're usually well documented in the media . Its the many little things .I was doing our shopping in Tesco yesterday and I usually buy an apple pie .Last week I paid £ 1.25 for the pleasure...yesterday it was £ 1.50..that's a 20% increase in a week ! My old dad used to say you can only spend a £ once which is not particularly profound but continuing the pie analogy , that's £ 0.25 that I won't be spending somewhere else and if you extrapolate that the implications for the economy are stark...some businesses will suffer badly .Before I get an avalanche of criticism I really do appreciate that in the current circumstances there are many people who would be very grateful if they could afford a pie anyway but the wider point is the overall impact on the economy .It's scary.

Get yourself to Aldi. I nipped in last week for some milk and found myself having a walk around - picked up a few items: Curry Kievs (must try if you haven't, by the way), chicken, steaks.. got to the till expecting it to be around £30... £16.xx - couldn't believe it. I normally shop from Tesco but haven't been to Aldi in about 10 years. Cheap as!

[Lowbankclaret]

None of this is true. The only major change has been in relation to mortgage interest - this was previously a wholly allowable expense but now isn’t (but you can still claim in the form of a tax reducer at 20%).

It’s not entirely surprising to learn landlords are willing to lie to their friends about their financial responsibilities just as much as they are to everybody else.

I don’t wish to get into and argument and won’t.

I was considering buying a couple of houses to rent out instead of investing.

My friend sent me his financial spreadsheet which covered several years, he made around 4-5% last year.

I got him investing a few back and he made considerable more in a year, his first year was around 16%. Which means he sold 1 house when the tenant left and he has given notice to a second tenant as he is going to sell a second house.


The figures just don’t add up to be a landlord when you can earn more with far less effort and risk.

I will email him with landlords comments on here and see what he says.

[TheOriginalLongsider]

My employer is giving every employee an extra £1000 in their June salaries to help with the rise in the cost of living. Unfortunately it’s just a one off but much appreciated

[GodIsADeeJay81]

Aye, and this shower of a govt is talking about selling off more social housing, but this time the buyers can use Housing Benefits to finance the mortgage repayment.

I think that's always been an option, or was many years ago, because it's reliable income like a wage.

[Billy Balfour]

It 100 per cent isn't. Try walking into a bank for a mortgage and telling them you are going to finance the purchase with your Housing Benefit - you'd be out of the door in less than five minutes.

Do you think it's a good idea for banks to lend very large sums of money to people who qualify for HB? The benefit is means treated for good reasons, and most housing benefit claimants are the very low-paid and unemployed. I also don't think that most taxpayers will be happy to pay for it.

This is a subprime disaster waiting to happen, not to mention the fact that it will reduce our already depleted social housing stock. I can't believe a Conservative Govt has come up with this fiscal mess of a policy. It's a disaster waiting to happen.

[GodIsADeeJay81]

It 100 per cent isn't. Try walking into a bank for a mortgage and telling them you are going to finance the purchase with your Housing Benefit - you'd be out of the door in less than five minutes.

Do you think it's a good idea for banks to lend very large sums of money to people who qualify for HB? The benefit is means treated for good reasons, and most housing benefit claimants are the very low-paid and unemployed. I also don't think that most taxpayers will be happy to pay for it.

This is a subprime disaster waiting to happen, not to mention the fact that it will reduce our already depleted social housing stock. I can't believe a Conservative Govt has come up with this fiscal mess of a policy. It's a disaster waiting to happen.

I had a quick Google and yes it is possible.

[Billy Balfour]

Oh well. I'm sure you'll have the banks queuing up to give you a mortgage, but I wouldn't hold my breath.

[Billy Balfour]

By the way, means-tested benefits aren't classed as reliable income, unlike pensions etc.

[Devils_Advocate]

Anyone concerned or confused about how this benefits for bricks scheme will work in practice needn't worry. if you listen to what peoples champion Theresa Cofey has to say you will see it sounds like a jolly good idea supported by a well thought out plan.

https://twitter.com/MarinaPurkiss/statu ... 2550004736

[Foshiznik]

What happens when they have paid off the house? Do they then sell it, bag the money then claim another house to stay in?

[Billy Balfour]

What happens when they have paid off the house? Do they then sell it, bag the money then claim another house to stay in?

You can't have more than 16K in savings to claim HB. I suppose they could sell their taxpayer-bought house, and go around the world spending free money like Billy-O, then come back and do it all again.

[Billy Balfour]

Anyway, the whole thing is bonkers. Let's lend hundreds of thousands of pounds to people won't be able to pay it back unless they receive DSS Housing Benefit.

[Smile]

Anyway, the whole thing is bonkers.

Welcome to uptheclarets.com

[claretonthecoast1882]

There's a mountain of envy flying around this thread.

I rent out a number of properties in Somerset..and in my view I provide an essential service to the community.All properties are of a high standard, well maintained with rents kept only negligbly above inflation rates.

We live in a free market economy not a authoritarian state.

Witchhunts against private landlords are simply turning attention away from the real problems caused by low housebuilding figures.

This place stinks of envy whenever there is any kind of thread regarding money.

Such an ugly trait in people, living a life full of jealousy and resentment is such a waste

[Quickenthetempo]

That's why I said housing companies and not just councils.

We have a similar set up here in Oxfordshire and also next door in Berkshire.
Every lot of new builds round here has to have X amount made available for social housing as part of the deal.
Where my ex lives with our daughter is one such house, she was the first tenant to move in (she only got it because others didn't want it because it wasn't on a bus route and a mile or so from any shops )

In regards to people moving towns, I met a woman from London who'd been bribed to move out of London by her local council, to free up social housing there and her family picked Burnley.
That was nearly 20yrs ago and they're still in the area last time I saw her.
This trick has been tried again and it made the national news recently because people didn't want to go live in Stoke etc, they wanted to remain in London.

Another thing which won't help, that I came across this weekend, was people renting nice houses (multiple) and putting them on airBnB.
Against a lot of rules I think, but very profitable.

[Greekclaret]

Live with my girlfriend. Both work.
Haven’t made any changes as of yet, still plodding on with home improvements and so on. Have noticed I have less spare money a month 100% but I’m fortunate enough I can eat that up without it hurting me.

I do feel for families and those who live month to month. If anyone is familiar with the programme ‘rich house, poor house’ it’s a real eye opener to those daily struggles millions face and that was before all these recent increases. It’s only going to get worse. Worrying times for many.

[South West Claret.]

Lazy Tory git alert https://www.bbc.co.uk/news/uk-england-norfolk-68133873

[Rileybobs]

Lazy Tory git alert https://www.bbc.co.uk/news/uk-england-norfolk-68133873

Lazy in what way?

[Clovius Boofus]

I don't know about lazy, but he says he's financially poorer than he was a few years ago. Join the ******* club, mate.

[aggi]

Lazy Tory git alert https://www.bbc.co.uk/news/uk-england-norfolk-68133873

To be fair, it's pretty clear he's quitting his ministerial role so he can take on a high paying (and I'm sure awarded only on merit) second job.

[Jellybean]

Lazy Tory git alert https://www.bbc.co.uk/news/uk-england-norfolk-68133873

Your bigotry shines through here. At least he's being honest, they are human at the end of the day.
The Tories need not worry too much as in a few months they'll all be out of government, let's see how that works out for the country.

[BurnleyFC]

Your bigotry shines through here. At least he's being honest, they are human at the end of the day.
The Tories need not worry too much as in a few months they'll all be out of government, let's see how that works out for the country.

It can only get better, surely.

[KateR]

It can only get better, surely.

Really??

It will be interesting to see, but yes, I'm sure everyone will be much better off and commenting on here about how their life has improved, with the extra money they have for disposable income.

[evensteadiereddie]

Not necessarily but at least we can hope that any decisions made will be for the good of the country and not just the usual chosen few.

[ecc]

Not necessarily but at least we can hope that any decisions made will be for the good of the country and not just the usual chosen few.

Certainly won't change with the Tories in power.

[RMutt]

The fact that he can pack in his £120,000 job for an £80,000 job plus a part time second one, and be better off, tells you all you need to know.
What will this second job be? It can’t be much if he’s putting all his effort into his constituency can it? It will be a glorified lobbying position, where he’s paid to try to influence policy decisions. Or perhaps a position where he can invest a little to gain more with minimum effort.

[GetIntoEm]

Sounds like a sensible decision to me.

Ministerial positions in this country are not well paid, it's easier to earn more in a private sector role usually with more security and benefits.

[South West Claret.]

Sounds like a sensible decision to me.

Ministerial positions in this country are not well paid, it's easier to earn more in a private sector role usually with more security and benefits.

Depends what you are comparing them against, in general I think most people who are thinking in a balanced way would disagree with you.

[GetIntoEm]

£86k there or there abouts for a MP, you can nearly earn that much working in a supervisory engineering role.

Might seem like a lot compared to minimum wage, but in bang for buck terms I don't think it's that great.

[evensteadiereddie]

Add the perks an MP receives and it's not a bad do at all.

[Sheedyclaret]

£86k there or there abouts for a MP, you can nearly earn that much working in a supervisory engineering role.

Might seem like a lot compared to minimum wage, but in bang for buck terms I don't think it's that great.

You don’t think 86k is a good wage jeez

[AmbleClaret]

£86k there or there abouts for a MP, you can nearly earn that much working in a supervisory engineering role.

Might seem like a lot compared to minimum wage, but in bang for buck terms I don't think it's that great.

They generally claim around £250k in expenses, which can cover nearly all their general costs of living, so it's definitely a good shout.

[bfcjg]

The cost of living crisis in the main has been caused by the pandemic payback plus the Russian war, not withstanding that the disastrous Truss premiership has compounded the issue.

[aggi]

They generally claim around £250k in expenses, which can cover nearly all their general costs of living, so it's definitely a good shout.

That expenses figure is a bit misleading though as it includes running their constituency offices so has staff and other business costs in there.

[daveisaclaret]

That expenses figure is a bit misleading though as it includes running their constituency offices so has staff and other business costs in there.

Important to note how many of them use this to give a family member a wage, though.

[GetIntoEm]

Some completely made up facts on here.

Show me how they claim £250k in personal expenses

[GetIntoEm]

You don’t think 86k is a good wage jeez

I didn't say that did I. I don't think it's amazing pay for someone who contributes to the running of the country now. It's all relative.

[claret2018]

The PM’s salary is “only” about £170k. A CFO at a decent sized firm will be on double that.

To put it into a bit of context, an MP’s salary is equivalent to that of a mid-ranged senior manager at a big 4 accounting firm.

[Lip]

The PM’s salary is “only” about £170k. A CFO at a decent sized firm will be on double that.

To put it into a bit of context, an MP’s salary is equivalent to that of a mid-ranged senior manager at a big 4 accounting firm.

Do they actually pay the PM. FFS. !

[AmbleClaret]

Some completely made up facts on here.

Show me how they claim £250k in personal expenses

Google MPs expenses, some eye watering figures on there.

[kentonclaret]

The PM’s salary is “only” about £170k. A CFO at a decent sized firm will be on double that.

To put it into a bit of context, an MP’s salary is equivalent to that of a mid-ranged senior manager at a big 4 accounting firm.

What do these individuals potentially earn once they leave office? Theresa May and Boris Johnson are raking it in apparently. It was claimed that Boris could no longer afford to remain in office as PM because the lucrative offers available to him could not be taken up.

[evensteadiereddie]

As if he had a choice..

[aggi]

Important to note how many of them use this to give a family member a wage, though.

True, I think Nadine Dorries had both of her daughters on the payroll (may explain why she was so slow in quitting) and plenty of others like Johnny Mercer are employing their other half.

But, I'm pretty sure the rules on this changed a few years ago and it was only allowed to continue where it was already happening so it should be gradually phased out.

[GetIntoEm]

Google MPs expenses, some eye watering figures on there.

Since the scandal in the early 2000s I can't see anything shocking. Looking at our own Burnley MP he's claimed about £50k in the last 12 months, which includes rent on the office, staffing it, travel and accommodation in west minster. Seems fairly reasonable to me.

All items I wouldn't pay for employed in the private sector, and rightfully he shouldn't

[AmbleClaret]

Since the scandal in the early 2000s I can't see anything shocking. Looking at our own Burnley MP he's claimed about £50k in the last 12 months, which includes rent on the office, staffing it, travel and accommodation in west minster. Seems fairly reasonable to me.

All items I wouldn't pay for employed in the private sector, and rightfully he shouldn't

Crack on Tory Boy.

[GetIntoEm]

Predictable response.