Bank of England latest

Tiggy


Joined: 25/07/2007
Posts: 1994

Message Posted:
08/01/2009 14:31

The Bank of England has cut interest rates to 1.5%, the lowest level in its 315-year history, as it continues efforts to aid an economic recovery.



The half percentage point reduction brings interest rates below 2% for the first time since the Bank of England was founded in 1694.



Manufacturers' association EEF said the move was "too timid", and that the Bank should have cut rates further.



The Bank has now reduced rates four times from October's 5% level.

CJtill


Joined: 02/05/2008
Posts: 836

Message Posted:
08/01/2009 16:24

Not unexpected, but the UK are quickly running out of options if this crisis continues.

Can any cynics among you see how bad this can get, would love to hear your thoughts and ideas.

keithr


Joined: 20/08/2008
Posts: 720

Message Posted:
08/01/2009 17:33

Brown will just print more money and we will become the Zimbabwe of europe. He's clueless,just as every Labour govt has been,always ends with naff all in the pot and a huge,overpaid,bloated civil service.

tattlad


Joined: 13/12/2008
Posts: 479

Message Posted:
08/01/2009 17:39

Msg 3 you have it exactly, just look at every time a labour government has been in power, it always ends the same way, the UK up to the eyes in debt.

Cypfan


Joined: 10/10/2008
Posts: 104

Message Posted:
08/01/2009 17:42

Yipeee that's tracker my mortgages down again. rejoice!!

The-Wicks


Joined: 27/05/2007
Posts: 2279

Message Posted:
08/01/2009 17:54

Boo hoo thats my savings interest down again :-(

P

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
08/01/2009 17:56

I'm with you Paul. Any one with any extra money should be buying property now (in the UK). Sit on it for 3-4 years and you'll make a nice healthy profit aside from getting the rental income.

jay76


Joined: 17/07/2008
Posts: 532

Message Posted:
08/01/2009 18:39

untill the tax man nicks most of it.

Steve1953



Joined: 04/12/2008
Posts: 298

Message Posted:
08/01/2009 19:27

Mismanagement has gone on from the 1970's,thatcherism gave everything a profit element and if it did not she closed it. The new conservative party under B(liar) carried on the tradition of service economy (as opposed to mixed economy);and we dont make anything we import it.



Thatcher started credit - maybe I'm getting too old,but if you couldn't afford it - you saved until you could. Mortgages were 90% max,linked to earnings and savings.



Social security payments are out of control,and is immigration. Tax thresholds for ordinary working bods and bodesses too low



Black holes have yet to emerge from NHS and civil servants pension schemes .



All very depressing .... as we glibly follow the yanks and their muckcart ... and people criticise TRNC ? Dont need to mention crime,standards - education,morals,neighbourliness,helping people ... all have headed south at the same time.



Can anybody cheer me up,I need to lie down and have some tlc?Steve

Tiggy


Joined: 25/07/2007
Posts: 1994

Message Posted:
08/01/2009 19:39

Boutcher, 62, from Basildon, is living off a £200-a-month pension and the interest on his savings of about £100,000.



"I don't have a mortgage and so it may sound like I have a lot of money in the bank but I still have bills to pay - electricity, council tax," he said.



"With interest rate cuts, the main source of my income is being taken away."



I'm not entitled to anything from the state because of the level of my savings





Mr Boutcher said if he earned little interest, his savings could eventually disappear.



The retired debt agency worker found himself with money to invest after selling his house and moving into a smaller property when his wife died.



"I'm not entitled to pension credit," he said.



"I'm not entitled to anything from the state because of the level of my savings."



Mr Boutcher initially placed all his money in a single savings account but in the wake of the collapse of Northern Rock bank, he read about potential limitations to compensation

CJtill


Joined: 02/05/2008
Posts: 836

Message Posted:
08/01/2009 20:12

The idea of printing more money is always destined to fail, though it will be the next government who pick up the pieces.

Ignoring that option and with interest rates at zero, what could the government ACTUALLY do.

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
08/01/2009 20:17

If your money is in a YTL account, are you not getting 19% plus interest.



Let the good times roll!



wyn

deecyprus4


Joined: 27/07/2008
Posts: 3452

Message Posted:
08/01/2009 20:45

mess 7. dont think its a good time to buy yet, think it will drop another 10 to 15% yet, and there will be no boom and bust for at least another 10 years imo.







kevin

Tiggy


Joined: 25/07/2007
Posts: 1994

Message Posted:
08/01/2009 22:35

Good luck to you Wyn.

Turtle


Joined: 28/05/2007
Posts: 2669

Message Posted:
08/01/2009 22:48

As was said on this board 3 months ago this govenment have not got a clue.

Bailed out the banks, cut vat, 3.5% drop in interest rates, multi company failure, hundreds of thousands of job losses the list is endless.



And people still insist that this clown Brown is saving the world ?..dont make me laugh.

karakum5c



Joined: 18/03/2008
Posts: 1021

Message Posted:
08/01/2009 22:48

I have never voted Labour in my life.



Why?



Look at the mess the British economy is in!!!!!!!!!!!!!!!!!!!!!!!!!!!

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
09/01/2009 14:42

what make my blood boil is those of us who payed our way and have savings are now getting very low interest on those saving.

due to the bloody mess gordon brown has got us into.



when you want a mortgage or loan the bank does credit check you but i think it should be more like the insurance no claims bonus.

those people who pay and on time should not have to pay as high rates as the non payers or late payers.

you should be getting money loaned at a better rate if you are someone who pays and on time.

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
09/01/2009 14:54

wyn

'If your money is in a YTL account, are you not getting 19% plus interest.

Let the good times roll! '



The present world wide recession has not as yet had an impact on Turkey or the TRNC but it will happen, maybe no where near as bad as other countries but it will happen. Also the TRNC and Turkey have their own financial time bombs waiting to go off and anyone chasing the highest interest rates for their savings need to keep an eye out for what is going on with the TRNC/Turkish economy.

AJ

AJ

teatime


Joined: 20/10/2008
Posts: 852

Message Posted:
09/01/2009 15:12

keithr message 3:

Are you a Civil Servant? You seem to know a lot about them being "overpaid".

As a Civil Servant, I can tell you that the vast majority of Civil Servants work for very small pay, i.e. minimum wage.

Hippo


Joined: 02/02/2007
Posts: 2070

Message Posted:
09/01/2009 15:19

quote the vast majority of Civil Servants work for very small pay, i.e. minimum wage. quote



I would challange that if you mean a member of the civil service?

Coachie



Joined: 29/07/2008
Posts: 2135

Message Posted:
09/01/2009 19:05

Up till this credit crunch hit the UK I very rarely heard anybody complaining about life in the UK.As usual when everything is hunkydory and people are making mioney hand over fist nobody had a bad wor d for GordonBrown.Now that things have turned upside down,through no fault of his,he is suddenly the biggest idiot that ever was.Dont forget the people of the UK VOTED them in for threeterms so they must have being doing something right.In some ways Iwish that just as the credit crunch hit he had resigned just to see what the other lot would have come up wih,wich I dont think would have been any better.Its the easiest thing in the world to do,criticise someone for not doing the right thing when you dont know what the right thing is yourself and dont have to carry the can if it goes wrong.Just hope he proves you all wrong...

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
10/01/2009 16:16

coachie

lets remember that the labour goverment only got in last time because all the oppostion votes were split between the lib dems and cons.

we left the uk because they squeazed small business's so far, that it was better to sell or close than stay paying them.

we paid more in taxes and vat than we earnt, due to gordon brown and blair.

we sold our busines to lithuanians, probably illegals, who cares.

our house we sold to americans.

tells you something about the uk!

(i will just add that graham from sudbury property services can confirm what a good business we had, as he was local to us.)

i still have a vote in the uk and by god i will be using it!

Turtle


Joined: 28/05/2007
Posts: 2669

Message Posted:
10/01/2009 16:41

Coachie, I think you know my views on this rabble and I totally agree with fire starter the backbone of Britain is the small business and this govenment has single handed destroyed them.



I for one have been saying for a few years now that this govenment is all about taking taking taking off the average joe but I will ask again to all you Labour supporters take a closer look at the public services in this country, NHS. Schools, Local Council services, Roads all have had much money thrown at them but huge wastage and squandering have left us with poor performing services.



They should resign today and hang thier heads in shame

chick


Joined: 02/07/2008
Posts: 323

Message Posted:
10/01/2009 16:45

Coachie Msg21.



I think you have opened up a can of worms here.



"nobody had a bad word for Gordon Brown" I personally hate the man and his prudence.



"people of Uk voted them for 3 Terms" they were brainwashed my opinion. And nobody voted for Brown as PM he was conveniently handed it on a plate because smiling Tony knew what was coming.

Steve1953



Joined: 04/12/2008
Posts: 298

Message Posted:
10/01/2009 16:55

Dear Rose,I take it you wont be returning to the UK? Maybe I'm getting old,but the old country was already on the slippery slope in the 1970's ,for reason sthat have been raided before.Unfortunately,most politicians,especially when they get in power - are just that - in it for the power and not the people who they are employed for.



For my sins,I've worked in social services for nearly 40 years,and seen it dismantled,following Mrs Thatcher's market forces exploits in the early 1990's. I had friends in the NHS and they warned me of the purchasr/provider split - the accountant with the clipboard instead of matron;and the start of american cleaning firms and MRSA. The SS is now run by SS type bullies,and if you dont like it,fall ill or challenge them,they make things very difficult for the ordinary working bloke. This is my pet moan at the moment,as you think the TRNC is badly run,try Lancashire County Council. Sounding too much like neg nick - but I think your motives are soundSteve

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
10/01/2009 17:03

so you also know steve that the uk gov and social services knew about aids long before they said anything to the general public.

my mum worked for social services as a secretary years ago in a mental hosptial.

they closed it and put all those people into the community, i dread to think of what the outcome was.

we read about it everyday. care in the community!

berty



Joined: 11/01/2008
Posts: 216

Message Posted:
10/01/2009 17:08

no where you are coming from Steve I used to live in Lancashire until recently Cleveleys being one of the places I lived and was quite happy til the council started to get its claws into our hard earned cash. So I left, shame realy I was born and brought up in Lancashire and still proud to say so. Still had to emigrate to Wales to avoid some of the Lancashires harsh rules,

lovingcyprus


Joined: 02/03/2007
Posts: 1272

Message Posted:
10/01/2009 17:20

Gordon Brown is a conman, he thought he was being clever reducing the standard rate tax band to 20% and getting rid of the 10% band but it really back fired on him.

Look at the way he has taxed the uk to the hilt, believe you me there is a lot more bad news to come.



As is usual the Labour clowns will not accept responsibility for anything and now that has spread through all the Civil Service and Local Authorities. How many of the clowns have fallen on their swords???????????? The answer is NIL

Coachie



Joined: 29/07/2008
Posts: 2135

Message Posted:
10/01/2009 21:39

I take all your well meaning comments on board,But I still say If he had resigned at the beginning of the credit crunch,do you think that Cameron and his cronies would have done anything different,nothey wouldnt.When ever they have held the reigns they are just as bad. they are not concerned about the ordinary bloke,the NHS.or education ,as long as it is privatised and they do not have to pay anything, that suits them down to ground.Quote Mrs Thatcher " the NHS is safe in my hands " then immediately starts to privatise it.That was the beginning of the "great ladies " downfall...If you think you are hard done to now wait till that lot gets in.....

deecyprus4


Joined: 27/07/2008
Posts: 3452

Message Posted:
11/01/2009 08:20

the nhs was finished when we started allowing free loading eastern block lot in, its only a island cant take on all these free loaders.

Steve1953



Joined: 04/12/2008
Posts: 298

Message Posted:
11/01/2009 11:33

Dear Rose/Berty, It's an elastoplast in the community,do as little as possible to keep 'em ticking over.There should have been a revolving door at Blackpool V.Hospital,as the same people(usually pensioners,unable to cope on their own);kept returned days after being discharged. Too much waste by our HQ staff in Preston - the human resource staff are like cones on the motorway - they double overnight.

Many people chucked out of mental hospitals without any proper support - result they get stolen from and ripped off at every opportunity - sad times we live in now,nobody seems to give a damn about anybody else?

Is it any better in Wales Berty? Llandudno was a lot cleaner than Blackpool last time I was there. Used to fishing off Beaumaris pier many moons ago.

2008- only thing of any exitement was Riverdance stuck on our beach last year. Bus loads were coming from all over the country to see the thing - typical brits - flask and sandwiches freezing in their cars with binoculars. Regards

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
11/01/2009 11:36

'bout time this thread was put out of it's mysery....





Nick

Turtle


Joined: 28/05/2007
Posts: 2669

Message Posted:
11/01/2009 12:37

Nick, if the NHS are nursing this thread you have a long wait my friend ?











Coachie, if the tories were in at the start of the credit crunch you have to ask yourself; would they have let credit get so out of control in the first place ?

Coachie



Joined: 29/07/2008
Posts: 2135

Message Posted:
11/01/2009 13:01

In a word Turtle ..Yes..Mrs T destroyed manufacturing in this country,all she wanted was services industry and that leads to banking,insurance/mortagages all are credit industries.Once one falls they all snowball together.which is what you have now...

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
11/01/2009 13:06

Coachie

I don't agree, it was the unions that killed manufacturing in the UK. I will never understand how people thought that with high wage demands that the manufacturing industry was ever going to survive.

AJ

SaorAlba


Joined: 05/01/2009
Posts: 53

Message Posted:
11/01/2009 13:12

deecyprus:



"the nhs was finished when we started allowing free loading eastern block lot in, its only a island cant take on all these free loaders."



Do you find it easier to blame foreigners for all the nation's ills? I suppose that way you don't actually have to think and analyse.



And are these foreigner "freeloaders" as bad as a handful of our own citizens who happily cash in on war and the suffering of others for their own personal benefit?



Foreigners, eh? Who'd have them?



PP

Turtle


Joined: 28/05/2007
Posts: 2669

Message Posted:
11/01/2009 13:16

AJ you are correct, if people looked at the problem in a simple manner and if the products they make become uncompetative then its simple.......you dont buy it. And most of the British manufactured goods (as good as they are) become too expensive.



Just like you in Hanley Coachie......if you dont like the price you shop around.





And going back to the credit situation when the Tories were in you could not get 5 times your salary to buy a house or a credit card with a £25k limit on it

Totally reckless in my opinion.

Coachie



Joined: 29/07/2008
Posts: 2135

Message Posted:
11/01/2009 13:33

AJ..Whydo people always blame the Unions.I worked for 23 yrs for the P&O organisation,we were uninised as the saying goes,but we never had one bit of trouble inthose 23yrs.Never held the company to ransom and all our wage agreements were in line with inflation.Unions are not always the problem with employers,it is them selves most of the time.If it were not for trade unions most people in this country would have no holidays and still be working for £1 an hour.I am a member of the "Unite" (formerly T&G)and have been nearly allmy working life,and thanks to there efforts I have had a comfortable standard of living.I am now retired and am still living reasonably well.So dont blame the unions for the failure of industries,Blame the"Iron Lady"...

Turtle


Joined: 28/05/2007
Posts: 2669

Message Posted:
11/01/2009 16:23

Coachie, I would suggest that you were treated well by P&O because the company was/is profitable and trades in a free market.

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
11/01/2009 16:50

I was a member of the TGWU and I was in the electronics industry at the time (MOD work) and after a while I realised the problems unions were causing the country and I cancelled my membership. Back in the seventies if you were not a member of a union you were ostracized. In my mind the unions were responsible for not accepting changes in working practices and I saw a lot of people lose their jobs from typically, the printing industries and general manufacturing industries. Make no mistake about it if the unions had been more flexible about working practices the UK then we would probably have a stronger manufacturing base now.

AJ

Coachie



Joined: 29/07/2008
Posts: 2135

Message Posted:
11/01/2009 17:45

turtle..they dont exist any more,apart from the ferries and the cruise line,sold everything else to DWP and some of the smaller cruise ships to Carnival.

AJ..Most of the problems in the seventies was in the car manufacturing business and yes I agree there were some morons in the union leadership then,same as in the Coal industry, but as much as I disliked that man his prophecy turned out tobe correct.But I still say that the working practices and wage structure that unions fought for have benefited a whole lot of working people.You only have to have a look at the USA.$4per hour,no protection from dismissal,and only seven days holiday a year for non-union employees. This is where the Iron Lady got her ideas from.Keepthe working class poor and keep our business gaffers rich,more mony in the party coffers,fortuneately the British people had had enough and decided a change was needed,hasnt worked out too well and another change is round the corner,happens all the timewhen things go wron

Steve1953



Joined: 04/12/2008
Posts: 298

Message Posted:
11/01/2009 22:12

Trouble is at the moment in NHS/Local Govt,the unions have been too weak for years,and were ignored. If they dont like it the bosses downsize the workers to get round redundancy,but promote themselves. Workplace bullying goes on,and if your face doesn't fit - boy are you in trouble. Why am I saying this - because instead of closing a local care home down - they decide to discipline 10 care staff and sack 3;whilst the pertetrators are protected. Trouble is its costing the tax/ratepayers an absolute fortune - only answer is a Tribunal. Care services have gone down the pan along with home helps and caring,accountable homes. Mrs T's policies of privatisation confirm that if you pay people peanuts you get monkeys... or thieves or the rest ..just dont get old or ill in the UK any more. Over 10 families have run the gauntlet for 2 years - a type of living hell - for what,the bosses to have power... it is very sad for all involved;the UK govts of 25 years should hang their heads in shame

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
11/01/2009 22:18

mess 42 - don't blame me, i didn't vote for them.



i wanted the bloke with the daft hat to win.





Nick

Tiggy


Joined: 25/07/2007
Posts: 1994

Message Posted:
12/01/2009 11:46

Keep the flag flying coachie!



Msg 41 is spot on.



The minimum wage was given to the less well off and rightly so. The blue rinse brigade of greed still exists in Britain and now in the ex pat community in Cyprus. I bet all the city fat cats (ex) are not all labour supporters! greed at i'ts worst.

Tiggy


Joined: 25/07/2007
Posts: 1994

Message Posted:
12/01/2009 12:32

Sorry.



Went off thread. Now closed. Moderator.