have a look at what the market thinks of it:
Top Ten Risers:
| OCDO | OCADO GROUP PLC | 822.40 | 52.80 (6.86%) |
| ICP | INTERMEDIATE CAPITAL GROUP PLC | 1,542.00 | 83.50 (5.73%) |
| BME | B&M EUROPEAN VALUE RETAIL S.A. | 446.10 | 20.90 (4.92%) |
| NXT | NEXT PLC | 6,388.00 | 260.00 (4.24%) |
| ABF | ASSOCIATED BRITISH FOODS PLC | 1,709.50 | 59.00 (3.58%) |
| BRBY | BURBERRY GROUP PLC | 1,609.00 | 40.00 (2.55%) |
| PSN | PERSIMMON PLC | 2,215.00 | 54.00 (2.50%) |
| AUTO | AUTO TRADER GROUP PLC | 577.60 | 11.60 (2.05%) |
TOP TEN FALLERS:
UU.UNITED UTILITIES GROUP PLC1,065.00-47.50 (-4.27%)BT.ABT GROUP PLC183.20-6.70 (-3.53%)SSESSE PLC1,804.50-63.00 (-3.37%)ITRKINTERTEK GROUP PLC4,542.00-140.00 (-2.99%)SVTSEVERN TRENT PLC2,988.00-83.00 (-2.70%)IMBIMPERIAL BRANDS PLC1,793.00-48.50 (-2.63%)DCCDCC PLC5,564.00-146.00 (-2.56%)NG.NATIONAL GRID PLC1,200.50-26.50 (-2.16%)
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I don't understand what is to stop energy companies just jacking up their prices to take advantage of the bungs
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It might have curbed inflation if it had been done in form of a direct subsidy to energy bills/cutting VAT rather than just handing out cash Trump style
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the price cap Clergs
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Guy - the price cap is a cap
presumably not EVery household is at it?
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Have they structured it like this because Boris has mates at the relevant energy companies i.e. similar to the covid furlough loan disaster?
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It’s a shocker.
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Clergs, my understanding is that all variable rates are now at the cap, if energy companies could charge more they would have already been doing so.
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Sorry I meant the awarding of covid PPE contracts etc not the furlough thing
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The idea that a good response inflation is to hand out cash willy nilly is really quite astonishing - that is a populist government for you...
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Interesting the burberry seems to have risen on news that free munny is to be handed out to the poor - are those check shell suits back in fashion again?
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its banana republic stuff- oh things are going up in price and people cant afford them - lets print money and hand them more cash!
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Energy companies can charge more by getting people to agree a fixed rate - those are not subject to the cap...
https://www.moneysavingexpert.com/utilities/what-is-the-energy-price-ca…
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yes they can but obviously they cant push that or people wont agree...
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This is NOT NOT NOT demand led inflation.
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Prodigal, that doesnt matter pumping more cash into the economy will fuel inflation whatever the original cause. The government should have concentrated on ways to reduce prices instead.
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Investing in B&M and ABF (Primark) will reduce prices. Defensive retail is back.
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I am wondering whether to move to a longer fixed rate mortgage now and suck up the exit fee (about £7K) or wait till my current fixed expires next year as per our mate Martin Lewis:
https://www.msn.com/en-gb/money/other/martin-lewis-issues-mortgage-tick…
testing times...
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Sir Geoffrey Howe, we need you now.
control the money supply, you idiots.
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Prodigal Son, agree it's not entirely demand led inflation but there is a fire and Rishi is pouring petrol on it.
He's doing that at the same time the BoE are putting up interest rates which makes no sense
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parties? lies to parliament? OH LOOK HERES LOTS OF LOVELY CASH!!!
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It is unavoidable raw material increases and they aren’t coming down any time soon.
The landed costs of virtually everything have rocketed. Removing money from the economy will not reduce these prices.
We actually need to maintain the post COVID recovery
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It feels like we are at a stage now where lots of suppliers are simply gouging, with the effects being amplified as travel costs etc come back into people's expenditure. Witness record profits at Tesco and Travis Perkins that vastly outstrip rises in revenue.
UK Non-Financial M4 is now back to pre-pandemic levels so controlling the money supply is not an issue - that should have been done when it was obvious everyone was going to get free cash on top of not spending anything on holidays, transport etc. Once the energy price rises fall out, we'll see that pen pusher Bailey has raised rates in the face of a recession for no good reason. No doubt to save face he'll keep them elevated for too long as well.
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