But don't forget that Rushi was dancing on the tables Saturday afternoon
One day soon people will be dancing on rishi: it'll be murder on the dance floorBut don't forget that Rushi was dancing on the tables Saturday afternoon
The rise in people suffering from illness after the coronavirus emergency has dealt an annual blow to the public finances of almost £16 billion ...
The Office for Budget Responsibility (OBR) estimated that the jump in benefit payments caused by the pandemic, combined with a decline in tax receipts, had added £15.7 billion to the state’s annual borrowing, equivalent to 0.6 per cent of the UK’s GDP.
“As of early 2023, there were 2.6 million working-age people — 6.1 per cent of the working-age population — outside the labour force for health reasons, making this group, for the first time, the single-largest segment of the economically inactive population," the watchdog said.
Since the worst of the pandemic, there had been a 440,000 increase in the cohort of people who blamed long-term sickness for being economically inactive by early this year.
The number of people who are struggling with illness but continuing to work has risen by 490,000.
This wave of sickness has led to a £6.8 billion increase to the annual welfare benefits bill, including a rise of £4.5 billion in spending on incapacity benefits and £2.3 billion on disability benefits. Lost taxes amounted to a further £8.9 billion, the OBR said.
The Times had a load of more recealing than usual stats analysis from the OBR yesterday, including this on page 2 (subsequently barely mentioned or not at all):
"The rise in people suffering from illness after the coronavirus emergency has dealt an annual blow to the public finances of almost £16 billion ...
"The Office for Budget Responsibility (OBR) estimated that the jump in benefit payments caused by the pandemic, combined with a decline in tax receipts, had added £15.7 billion to the state’s annual borrowing, equivalent to 0.6 per cent of the UK’s GDP.
“'As of early 2023, there were 2.6 million working-age people — 6.1 per cent of the working-age population — outside the labour force for health reasons, making this group, for the first time, the single-largest segment of the economically inactive population,' the watchdog said.
Since the worst of the pandemic, there had been a 440,000 increase in the cohort of people who blamed long-term sickness for being economically inactive by early this year.
The number of people who are struggling with illness but continuing to work has risen by 490,000.
"This wave of sickness has led to a £6.8 billion increase to the annual welfare benefits bill, including a rise of £4.5 billion in spending on incapacity benefits and £2.3 billion on disability benefits. Lost taxes amounted to a further £8.9 billion, the OBR said."
So Long Covid is causing a huge problem for the economy, which there's a certain amount of panic about among the boss class, but no-one wants to make a big deal about it cos the whole existence of a pandemic thing is supposed to be memory holed and they can't really pretend disability benefits are a wastrel's paradise having spent the last decade turning it into a complete nightmare.
telling rainy fascist island it needs more foreign workers
Calm down snowflake, I'm not saying flag shaggers from other climes are any better.Oh do grow up.
UK attitudes to immigration among most positive internationally
Public opinion has shifted a huge amount in a relatively short space of timewww.kcl.ac.uk
The whole "everyone is on variable-rate mortages" thing is madness -- I wonder what % of UK voters are currently paying a variable-rate mortgage?
meanwhile Hunt is looking to the (very short) Truss play-book in a desperate, economically suicidal bid to hold onto to some of the core-cunt vote...
View attachment 412236
I found this from 2023:
Compare our best mortgage rates and deals | money.co.uk
Find your best mortgage rate with our expert comparison. Whether you're looking for a fixed or variable deal, our mortgage experts can look across the market for the right deal.www.money.co.uk
So about 28% of homes are lived in by people who own them outright, and thus not affected by interest rate changes at all. About 35% are not owner-occupied — this has a complicated relationship with interest rates. And 38% are owner-occupied with a mortgage, which therefore exposes the occupants to interest rate changes (either immediately or over the short to medium term). Saying that, those 38% will range from brand new 90%+ mortgages right down to ones that are almost paid off.
This is from 2022, but contains more stats:
UK Mortgage Statistics 2024 - Facts and Stats Report | Uswitch.com | Uswitch
We’ve collated new and updated UK mortgage statistics for 2024, covering mortgage approvals, transactions, arrears, average mortgage debt, and more.www.uswitch.com
That indicates that about 60% off mortgages have less than 75% LTV, but that’s unsurprising given that mortgages are normally gradually paid off.
Despite seemingly having every statistic under the sun, the second link still doesn’t show a breakdown of lenders between fixed versus variable rate.
So I have it one more go and found a full systematic statistical analysis of the UK mortgage market by the FCA. It still lacks details regarding fixed versus variable proportions but it does have this buried on page 41:
View attachment 412242
So this kind of suggests that about 80-90% of people are on a fixed rate at any time, but that the remaining fixed term probably has a median of only 1-2 years. So it’s fixed but kind of not really fixed.
The sort that 'benefit' working people to the tune of £1 for every £10 extra the vermin tax themGuess we can rule out these 'tax cuts' being the kind that might benefit working people then.