I’m going to be 5.5% worse off this year than last year, as food prices rise again sharply and yet I do not benefit at all from the mortgage drop which has helped many people, as I don’t have a house or mortgage, but rent. Rents of course remains static so far…
So the richer part of society gets bailed out, the poorest pay.
People with significant savings could end up even worse off – this really just benefits middle class home owners and those with huge personal debts and really screws those of us without significant personal debt or property, but no money.
Added to which people all around me are losing their jobs. Seriously, I am not impressed one bit!
If food prices had fallen, it would have been OK http://news.bbc.co.uk/1/hi/business/7959564.stm
Will you be better off or worse off? Find out here with the BBC Personal Inflation Calculator
I feel particularly for the poor sods, with or without mortgages, with large families. 😦
What is really interesting so far is how much the Credit Crunch, which by wiping out billions in share prices and investments and hurting millions of unfortunate investors would have narrowed the gap between the rich and poor, has instead now owing to government intervention done no such thing, but seen another increase in wealth of home owners while those in rental, almost all the poorer elements of society, take another kicking. Wow! And I voted New Labour! (Well I’m still not voting Conservative yet – colour me Lib Dem for the foreseeable, unless New Labour actually have an ace up their sleeve and plan to do something about this… )
Anyway do comment on how all this will effect you. And good luck, whatever your position! I think we may all need it…