Topic: The UK Economy - Is it the 1970's again?

[TepidT2O]

Great! It is something that has crossed my mind a few times, but I never looked it up.

Zeolite catalysts are amazing.. they can isomerise alkanes and sieve out different isomers form each other as well…

[Jiminy Cricket]

Zeolite catalysts are amazing.. they can isomerise alkanes and sieve out different isomers form each other as well…

I can tell you love your subject!

As you say, all the more reason to use this stuff more wisely. I wonder, if the world largely did away with away with using petrochemicals for transport and heating, what would be renewal rate of oil compared to consumption? I expect that we would still be consuming it at a rate tens or hundreds of thousands (or greater) than new oil is created. Assuming humans are still around, I wonder how the world will cope when there is no more oil for anything?

[west_london_red]

I can tell you love your subject!

As you say, all the more reason to use this stuff more wisely. I wonder, if the world largely did away with away with using petrochemicals for transport and heating, what would be renewal rate of oil compared to consumption? I expect that we would still be consuming it at a rate tens or hundreds of thousands (or greater) than new oil is created. Assuming humans are still around, I wonder how the world will cope when there is no more oil for anything?

You can use coal to produce a lot of the same products but it’s a lot more energy intensive and polluting I would imagine, the Nazis used coal to create petrol/diesel and so did Apartheid South Africa.

[Dr. Beaker]

Maybe we could just start slaughtering whales again - oh, I forgot, there's none left.

[PaulF]

Is this the fractional distillation taught at GCSE chemistry?
I'm surprised we can tweak it though to get more of one and less of the other. Though to be fair I did chemistry so long ago Noah was still issuing boarding passes for his ark.

[TepidT2O]

Is this the fractional distillation taught at GCSE chemistry?
I'm surprised we can tweak it though to get more of one and less of the other. Though to be fair I did chemistry so long ago Noah was still issuing boarding passes for his ark.

It’s the bit after that …the cat cracking (Although there are various other techniques such as reforming and isomerisation etc )

[PaulF]

Thanks.
So once we've weaned ourselves off fossil fuels we pay a bomb for everything else. Time to buy shares in hemp.

[lobsterboy]

Didn't the 70s predict that Soylent Green would turn up in 2022?
The Tories are missing a trick there, solving our post-brexit food supply problems..

[west_london_red]

Is this the fractional distillation taught at GCSE chemistry?
I'm surprised we can tweak it though to get more of one and less of the other. Though to be fair I did chemistry so long ago Noah was still issuing boarding passes for his ark.

I’m a bit younger then you and I did A level chemistry but who would have thought it would come in handy all these years later on a football forum I’ll be having dreams about benzene rings and covalent bonds between two carbon bonds to form alkenes

[Dr. Beaker]

I'm always having them dreams.

[surfer. Fuck you generator.]

I’m a bit younger then you and I did A level chemistry but who would have thought it would come in handy all these years later on a football forum I’ll be having dreams about benzene rings and covalent bonds between two carbon bonds to form alkenes

[Nobby Reserve]

Didn't the 70s predict that Soylent Green would turn up in 2022?
The Tories are missing a trick there, solving our post-brexit food supply problems..

...and the immigration problem

[Dr. Beaker]

...and the immigration problem

Fancy an Indian do ya?

[cornishscouser92]

Taken from the BBC
Here's some of the announcements Hunt is due to make:

Around £30bn in spending cuts, totalling around 55% of the measures
£24bn in tax rises, equating to 45% of the measures
The threshold when the highest earners start paying the top rate of tax will be lowered to £125,000 from £150,000
The health budget will be protected and increase in real terms - even when price rises are taken into account
Support for energy bills is expected to remain in place - but become less generous from April 2023
The energy industry will be hit with a significantly expanded windfall tax to help pay for the support
An increased National Living Wage from the current level of £9.50 an hour for over-23s
The BBC also understands the state pension and benefits will rise with inflation - although this has not been officially confirmed

[killer-heels]

Taken from the BBC
Here's some of the announcements Hunt is due to make:

Around £30bn in spending cuts, totalling around 55% of the measures
£24bn in tax rises, equating to 45% of the measures
The threshold when the highest earners start paying the top rate of tax will be lowered to £125,000 from £150,000
The health budget will be protected and increase in real terms - even when price rises are taken into account
Support for energy bills is expected to remain in place - but become less generous from April 2023
The energy industry will be hit with a significantly expanded windfall tax to help pay for the support
An increased National Living Wage from the current level of £9.50 an hour for over-23s
The BBC also understands the state pension and benefits will rise with inflation - although this has not been officially confirmed

Will be interesting to see how much the energy bills will be. Will certainly put a new slant on the war.

[lobsterboy]

This will lead to at least one generation's future, possibly two , destroyed just so the fat odious prick Crispin Odey could make millions.
Tory millionaires destroy the economy for a quick buck and then make you pay for the damage.
There should be riots everywhere but all I hear are people blaming rubber dinghies.
Fuck England, what a shithole.

[thaddeus]

Taken from the BBC
Here's some of the announcements Hunt is due to make:

Around £30bn in spending cuts, totalling around 55% of the measures
£24bn in tax rises, equating to 45% of the measures
The threshold when the highest earners start paying the top rate of tax will be lowered to £125,000 from £150,000
The health budget will be protected and increase in real terms - even when price rises are taken into account
Support for energy bills is expected to remain in place - but become less generous from April 2023
The energy industry will be hit with a significantly expanded windfall tax to help pay for the support
An increased National Living Wage from the current level of £9.50 an hour for over-23s
The BBC also understands the state pension and benefits will rise with inflation - although this has not been officially confirmed

I'm dreading it.  Hunt is as big an idealistic prick as the rest of the Tories but he hides it behind a facade of pragmatism.

Idiots like IDS coming out and saying that there shouldn't be any tax rises and that everything should be covered by spending cuts give the illusion that Hunt is somehow a moderate but he's not.

We're living through the economic hit of Brexit, we've staggered through Covid-19 and now we're involved in a proxy world war that has seen energy prices drive inflation into every corner.  Taxes have to rise considerably for us to stand still.  Raise taxes, give inflation matching rises to departmental budgets, provide support to those that need it, ride out the war then cut taxes once the world resumes some kind of normality.

How much did multinationals in Russia write off when they had to vacate almost overnight?!  There has to be a price for those companies to operate in business friendly and stable UK.

[cornishscouser92]

Will be interesting to see how much the energy bills will be. Will certainly put a new slant on the war.

£2500 to April, £3k from April

[killer-heels]

Apparently the spending cuts will come in after the next election. Is that correct?

[Nobby Reserve]

They could raise billions by bringing Capital Gains Tax in line with Income Tax.

Remove the non-dom loophole.

Close the Trust loophole for the majority of instances (eg, huge aristocratic estates being placed in trust, and this avoiding Inheritance Tax... the Duke of Westminster springs to mind)

[cornishscouser92]

Apparently the spending cuts will come in after the next election. Is that correct?

Freezing NICs for employers is a big tax increase

1% increase in real terms = cuts for non protected departments

[Black Bull Nova]

Liverpool City Council were already looking at significant budget cuts, and we've yet to see the impact of any unfunded wage increase as workers react to 11% inflation.


I think we'll hear Ghost Town on the radio again

[thaddeus]

Liverpool City Council were already looking at significant budget cuts, and we've yet to see the impact of any unfunded wage increase as workers react to 11% inflation.


I think we'll hear Ghost Town on the radio again

They'll just argue it's a badly run Labour council.

I'm not sure what excuse they'll use for true blue counties like Kent and Hampshire: https://www.bbc.co.uk/news/uk-england-kent-63624797

The leaders of two county councils are calling for urgent financial help from the government to help them avert a "disaster".

A projected £50.6 million black hole in Kent County Council's (KCC) budget has led to fears of tax rises and frontline service cuts.

Meanwhile, Hampshire County Council (HCC) is expecting a £200m budget black hole in the next four years.

(from a couple of days ago but absolutely nothing in the budget today that would have alleviated those problems)

[rob1966]

£2500 to April, £3k from April

That's only the cap, our was predicted to break £3k under the £2500 cap.

[cornishscouser92]

That's only the cap, our was predicted to break £3k under the £2500 cap.

It's not a cap at £2.5k, they've capped the price per unit of energy. The cap per unit goes up in April.

[Nobby Reserve]

Inflation Profiteers: How Corporations Are Making Millions Price Gouging Consumers

The reality of the 'cost of living crisis' is that as consumers are made poorer, major corporations are making record profits, reports Matt Bernardini

https://www.bylinesupplement.com/p/inflation-profiteers-how-corporations

[Red-Soldier]

https://www.bylinesupplement.com/p/inflation-profiteers-how-corporations

They are the real driver of inflation!

It's a rigged system, but none of our policians want to change it!

[thejbs]

I’m not sure which I hate most, price gouging or shrinkflation. Both probably go hand in hand. Just noticed the other day that not only has a standard bag of crisps hit £1 in my local shop, the brand in question has had a 5g (13%) reduction. Latest Andrex I bought cost more but has 170 rather than 190 sheets per roll (10% reduction). In a lot of cases, supermarket price tags still have the old weights listed, which I’m pretty sure is illegal.

[WhereAngelsPlay]

False advertising is most definitely illegal.

[Nobby Reserve]

Wasn't sure where to put this, but here seems as good a place as any...

70% of central London properties sold this year bought with cash – Savills
Report fuels fear that rich overseas buyers are buying properties at expense of working Londoners

https://www.theguardian.com/uk-news/2023/jul/05/70-of-central-london-properties-sold-this-year-bought-with-cash-savills


Wonder how much of that was paid through shell companies located in 'secrecy jurisdictions'?

[Black Bull Nova]

I’m not sure which I hate most, price gouging or shrinkflation. Both probably go hand in hand. Just noticed the other day that not only has a standard bag of crisps hit £1 in my local shop, the brand in question has had a 5g (13%) reduction. Latest Andrex I bought cost more but has 170 rather than 190 sheets per roll (10% reduction). In a lot of cases, supermarket price tags still have the old weights listed, which I’m pretty sure is illegal.

Sometimes you buy a bag of crisps and there are only 10 crisps in it plus a lot of salty air. Of course if you smash it with your fist you get 100 crisps but that's still poor value even though it takes longer to eat them.


Bastards

[liverbloke]

Sometimes you buy a bag of crisps and there are only 10 crisps in it plus a lot of salty air. Of course if you smash it with your fist you get 100 crisps but that's still poor value even though it takes longer to eat them.


Bastards

crisps are a treat so it doesn't bother me as much

and more people eating less shite (yes, they aren't really good for you) then it's not all bad is it if we think of the nhs

i eat less crap because of price rises but also i'm putting less crap in my body so...

i care more about the staples being affordable

[WhereAngelsPlay]

We all have to take a hit & it's selfish not to think you're part of the all.

How else would each of the 500 richest people on earth have seen their net worth rise on average over $1.5b each, $14m per day for the first 6 months of 2023.

[west_london_red]

Fuck the 1970, the way things are going it’ll feel like the 1870’s by the time the Tories finally fuck off.

[TepidT2O]

Fuck the 1970, the way things are going it’ll feel like the 1870’s by the time the Tories finally fuck off.

Superb! Britain was the richest country on earth! 

Our outlook is dire, absolutkey dire

[Nobby Reserve]

We all have to take a hit & it's selfish not to think you're part of the all.

How else would each of the 500 richest people on earth have seen their net worth rise on average over $1.5b each, $14m per day for the first 6 months of 2023.

We need to put lampposts to alternative use.

Seriously, were the fuck is the revolution?

When there's economic growth and most are getting better off, people will turn a blind eye to growing financial inequality. When economies are stagnant and people seeing their real incomes falling, it's a different proposition.

[west_london_red]

Superb! Britain was the richest country on earth! 

Our outlook is dire, absolutkey dire

Yup, a small number of industrialists owned most of the wealth in the country while the majority toiled to earn enough to fill their bellies and keep a roof over their heads. Thank god we’ve moved on from that!

[west_london_red]

Talk now seems to be growing that the markets are expecting rates to top out at 6.5%, it’s almost becoming a self-fulfilling prophecy I think of talking up further rate rise, and then the BoE being forced to act.

[Nobby Reserve]

Remember how scathing we were about the Greek economy?

Oh... !

"..it is now notably cheaper for Greece (3.99%) to borrow over 10 years than Britain (4.67%)."

https://www.bbc.co.uk/news/business-66133116


13 years of Tory economic fucktardism

[Jiminy Cricket]

Remember how scathing we were about the Greek economy?

Oh... !

"..it is now notably cheaper for Greece (3.99%) to borrow over 10 years than Britain (4.67%)."

https://www.bbc.co.uk/news/business-66133116


13 years of Tory economic fucktardism

Hi Nobby,

I am a little reluctant to mention this given our 'discussion' in the other thread - this is not meant to single out you. You are far from the only member here to use the term, and I have called it out a number of time before. But here goes:

The suffix, 'tard', is a contraction of 'retard'. I assume that you do not normally use 'retard' (in the pejorative sense) in your normal everyday interactions. 'Fucktard' means 'fucking retard'.

Again, not meaning to target you specifically, Nobby. The term is used quite widely and I expect most people who use it do not give its etymology much thought.

https://en.wiktionary.org/wiki/fucktard