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Home workers who 'built up savings' must go on spending spree when pandemic ends

Started by Sebastian Cobb, December 20, 2020, 02:27:20 PM

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Sebastian Cobb

According to Sunak.



It's hard to have a reaction to this article that is anything other than 'fuck off' isn't it?


Fambo Number Mive

Perhaps if Sunak feels so strongly about this he could go and spend loads of his vast wealth after lockdown and encourage his wealthy friends to do the same rather than having another pop at people who work from home.

I imagine that for a lot of people the savings on transport/lunch meals are outweighed by ordering more books/online films for something to do.

If the Telegraph and it's cartoonist "Bob" who won an award recently had their way, there would be no restrictions and a million dead by now (with millions more in hospital or with Long Covid). How do they think the economy (which is all they care about) would fare in that scenario?


Zetetic

Look forward to aggressive disincentives for any savings (other than "investment" in Buy-to-Let, of course).


Uncle TechTip

Quote from: Zetetic on December 20, 2020, 02:31:55 PM
Look forward to aggressive disincentives for any savings (other than "investment" in Buy-to-Let, of course).

End of free banking, perhaps?

I'll take the Chancellor's advice and spend it all on foreign websites.

Also if i may say, i don't think his claim is as bold as it's made out in the headline. "We hope we will spend it". Seems more just to offer reassurance to the retailers.

Sebastian Cobb

Free banking isn't universal is it? I'm sure I've read it's pretty standard in Germany to have to pay a monthly fee.

Ferris

Quote from: Fambo Number Mive on December 20, 2020, 02:31:34 PM
Perhaps if Sunak feels so strongly about this he could go and spend loads of his vast wealth after lockdown and encourage his wealthy friends to do the same rather than having another pop at people who work from home.

Nail on head

Zetetic

Quote from: Uncle TechTip on December 20, 2020, 02:50:47 PM
End of free banking, perhaps?
Negative interest rates, in the first place - but you're right that banks might just reflect this into charges etc rather than actually passing on interest rates directly.

(BoE PRA wrote to UK banks in October on their readiness for zero or negative interest rates.)

And this would please the only relevant electorate in the UK.


Pranet

Quote from: Zetetic on December 20, 2020, 02:31:55 PM
Look forward to aggressive disincentives for any savings (other than "investment" in Buy-to-Let, of course).

They recently cut the interest rates on NSI accounts to basically nothing.

JamesTC

Of course the Tories are great advocates of people redistributing their wealth.

Fambo Number Mive

It's more divide and rule, trying to make people think that it's all the fault of those working from home with all their money. People who work from home have to pay extra in heating, electricity and water. I know you can get a tax rebate but especially in the winter it's still going to cost many people more to work from home.

I wonder if Sunak is trying to soften opinion up for a work at home tax.

Given he's helped cause another lockdown with his Eat Out To Help Out, perhaps Sunak might like to use his billions to compensate business?


I.D. Smith

But...but I want to keep the extra money aside for when I inevitably get taxed more for working from home :(

(That aside, the attitude of spend-it-while-I-got-it in my 20s and early 30s is what got me in my current situation where I'm still stuck at home with no place of my own, so I don't plan on blowing the savings I've managed to scrape together on consoles and 4k TVs)


Gulftastic

I'm certainly having a few things. New cooker, bigger fridge and possibly a new washing machine. And I'll still have enough put by for holidays for the next two or three years. I've already paid for my Leeds Rhinos season ticket in one go rather than DD, and I'll have all my credit cards paid off in a month or two.

I've never in my entire life been in such good shape financially, whilst at the same time being in the worst shape of my life physically.

Johnny Yesno


Well, why not call for a Labour government?  Obviously they are notorious spendthrifts.   Odd to see a Tory espousing Keynesianism.

frajer

Wonder if he managed to deliver the sentence, "We are Conservatives. We believe in freedom" without smirking.

Bazooka

Absolutely, and if you don't it should be considered economic treason under law.

Icehaven

Before lockdown I was ending every month at the wrong end of my overdraft and had a few hundred quid in a pot in the bedroom for emergencies. By July I'd paid the overdraft off and saved so much in the pot I decided it wasn't wise keeping it in the house any more and opened a savings account, which has roughly doubled since then. I'm still hardly comfortable but I've got no debt at all and am now regularly saving a good chunk each month, and it feels great. If Sunak wants me to to go back to spending every penny I get every month to prop up the economy he can fuck off, I don't earn enough to spend and save so I'm just going to save.

bomb_dog


Blue Jam

No point in having savings if you then find they make you ineligible for Universal Credit innit?

Buy a flatscreen and an iPhone and get a load of tattoos, whuurrrrggghhh fuckit

Thomas

The net worth of warehouse-hogger Jeff Bezos hopped by $13b in a single day back in July. Sunak and his wife have a few tens of millions scattered across their various properties. Leave the hoarding to the professionals.


peanutbutter

Loads will go on a spending spree, it'll be heavily focused on travel destinations abroad.

dissolute ocelot

Quote from: peanutbutter on December 20, 2020, 11:24:14 PM
Loads will go on a spending spree, it'll be heavily focused on travel destinations abroad.
Sudden increase in air travel tax? Because clearly people with spare money are going to go on a really long foreign holiday as soon as they can. (And give all our lovely money to Johnny Foreigner.)

The Culture Bunker

From April, I started saving an extra £100/150 a month, which I recently used to pay an extra grand off the mortgage. Sorry, Rishi!

frajer

Hopefully Sunak will be visited by three ghosts on Christmas eve: Cummings, Gove and Johnson.

There will be no moral, I just want these cunts dead.

Alberon

How far away are we from a law mandating us to spend a certain percentage of our wages at approved stores each month?

Zetetic

Quote from: The Culture Bunker on December 21, 2020, 10:17:53 AM
... which I recently used to pay an extra grand off the mortgage. Sorry, Rishi!
As an owner-occupier, you are considered sacred amongst Rishi's people.

JamesTC

Quote from: The Culture Bunker on December 21, 2020, 10:17:53 AM
From April, I started saving an extra £100/150 a month, which I recently used to pay an extra grand off the mortgage. Sorry, Rishi!

Worry not, that extra money has gone to the banks. It is only when the cretins keep the money that it is a problem.