2022 mini-budget discussion

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delta0 said:
We know the number it impacts is 1.8 million so work from that. Roughly 30 million households in the UK.
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There are roughly 28-29 million household in the UK and the 1.8 million are homeowners whose fixed deals will come to an end in 2023. In addition there are all the BTL mortgages where the tenants will be affected when the landlords have to pay more. While not a high proportion overall 100% of those on standard rate and tracker mortgages will also be affected.

In the UK there are around 11 million mortgages and the 1.8 million comes from around 6.8 million of those. Pro rata 2.9 million mortgages will be impacted (directly or indirectly), 10% of households.
 
Chris Wilson said:
So there are no middle income residents, only multi millionaires and workers jammed 12 to a room? You exaggerate, surely?
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Hmmm 80% of people live in public owned flats, the certificate to own even the smallest cheapest car is 9.5 times the average annual salary, only 40% of people with degrees are actually financially better off 10 years later.

Yes there is a middle class in Singapore below the ultra wealthy people. A typical middle class person earns 12 times the average salary and even they are complaining as the gap to the ultra wealthy increases and the CoL increases.

So yeah maybe 10-20% of Singapores live a comfortable life. The other 80% are there just to make that life possible.

But is that what you want for the UK? A much smaller but wealthy middle class and a much bigger percentage of the country living in poverty?
 
Greebo said:
Hmmm 80% of people live in public owned flats, the certificate to own even the smallest cheapest car is 9.5 times the average annual salary, only 40% of people with degrees are actually financially better off 10 years later.

Yes there is a middle class in Singapore below the ultra wealthy people. A typical middle class person earns 12 times the average salary and even they are complaining as the gap to the ultra wealthy increases and the CoL increases.

So yeah maybe 10-20% of Singapores live a comfortable life. The other 80% are there just to make that life possible.

But is that what you want for the UK? A much smaller but wealthy middle class and a much bigger percentage of the country living in poverty?
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No, I'd like a UK with a much much smaller population level that could be self sustained without reliance on either a large foreign labour forces or external staples.
 
Chris Wilson said:
No, I'd like a UK with a much much smaller population level that could be self sustained without reliance on either a large foreign labour forces or external staples.
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So you don;t want a tax haven then? Or you mean once we have put 80% of the UK o the poverty line to graft for those who have the money, you wont need any immigration to fill low paid jobs and people wont want to come here anymore as illegal immigrants?
 
n111ck said:
I see the Chancellor has been subjected to racist abuse from the Labour Party.
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That's hardly racist abuse now, is it? I think there are political elements in a tiswas not knowing how to handle a newly thrust into the cabinet privately educated man from Ghanaian origins who appears, like the rest of the none white cabinet, to be quite Right leaning and something of a political Uncle Tom to the Left leaning blacks.I would expect more of it, wrong sort of black and all that... :) All great fun to watch unfold.
 
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