Tag Archives: price

If rich people can profit from huge crises, why can’t the rest of us?

House prices: they’re high, despite interest rates also being high, because rich people have been given huge amounts of money by the UK’s Tory government. They’re using it to buy assets.

Gary Stevenson’s latest video discusses the reasons for house prices staying high even though interest rates have been high also. TL:DR – It’s because rich people have lots of cash to splash around.

The question raised in This Writer’s mind is: if rich people can take advantage of the crises we’ve suffered over the last few years to get richer, how can the rest of us manipulate events to make ourselves richer too?

There has to be a way, don’t you think?

Buy Cruel Britannia in print here. Buy the Cruel Britannia ebook here. Or just click on the image!

Here’s the video:


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Housebuilders rise to top of FTSE100 now YOU have to pay for pollution they cause

Housebuilding: the Tories have been looking for something on which they can blame their failure to build enough new homes – and have found it in the form of legal protections for river life. So they are scrapping those protections and forcing you to pay for pollution prevention measures.

Exactly as This Site predicted only hours ago, evidence is showing that a Tory government decision to scrap “nutrient neutrality” rules that protect river life from harm caused by housing developments is creating huge profits for builders.

Meanwhile, the cost of cleaning up their mess is set to fall on the public purse.

Here’s the evidence about building firms:

And The Guardian is saying the following about how the bill for their pollution will now be paid:

Taxpayers will pick up the bill for pollution by housebuilders, government officials have admitted, as rules on chemical releases into waterways are scrapped.

The government has said it will double Natural England’s wetland funding to £280m in order to show it is trying to meet the requirements of its legally binding Environment Act.

This extra £140m will come from the public purse, the government confirmed. When asked by the Guardian whether this meant the taxpayer was now picking up the bill for pollution caused by developers, a government official responded “yes”, adding that while “the polluter pays principle is very important”, it was having too many adverse impacts on small- and medium-sized housebuilders.

So there you have it.

You paid for the privatised energy companies’ enormous profits. You paid for the privatised water firms to pollute our rivers. And now you are to pay for mitigation of the already-private builders’ attempts to kill off any remaining life in our waterways – if such mitigation ever happens.


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Outrage as banks announce huge profits

The Bank of England: it raised interest rates, supposedly to combat inflation – and now the banks have made a fortune in profits and inflation hasn’t fallen significantly.

After the energy firms, the banks.

Interesting how it goes, isn’t it?

The energy firms put up their prices for no very good reason (remember: the actual cost of gas and electricity is much, much lower than the amount you’re paying for it. The corporations say they keep the price up to smooth out any sudden shocks as the price comes down but they never refund the extra amount that you pay after the final costs are known).

This causes inflation.

The Bank of England then acts to reduce inflation – by increasing interest rates.

This creates a huge profit for the banks.

This profit is also never refunded.

Inflation has remained high.

Cue outrage:

Logically the answer is a windfall tax and curbs on profiteering and executive pay.

I wonder if Rishi Sunak’s new Business Council will recommend that to him?

Who’s on it, again?

SSE, Shell – they’re energy companies; Barclays is a bank…

That’ll be a “no”, then.


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Rishi Sunak is STILL lying to you about inflation. Your wages aren’t responsible for it

Rishi Sunak: corporate whore?

After British Gas posted huge profits, made possible by price-gouging – charging you far too much for the service it provides – Rishi Sunak has appeared on TV to tell you that he’s tackling all the inflation that has been caused by your pay rises.

… Except, of course, that tackling that kind of inflation doesn’t involve any work at all because your pay rises haven’t caused any of the inflation that has been inflicted on us by boneheadedly stupid, economically-illiterate, back-of-a-cigarette-packet policies dreamed up by Sunak and his equally stupid forerunners.

Sunak’s broadcast was an attempt to distract your attention away from the real cause of inflation – the high prices charged by corporate bandits for no reason at all – and to dupe you into thinking that your pay demands are responsible.

You are not responsible for any inflation at all. Sunak and the corporations to whom he whores himself are.

Here’s Peter Stefanovic to explain further:


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Corporate profits proved to be driving inflation. Why are Tories attacking your wages?

Rishi Sunak: the sign behind him says his government’s priorities are “your priorities”. This would only be true if “you” referred to corporate bosses and shareholders, and there was only one priority listed: bloating profits by robbing customers with increased prices.

The International Monetary Fund (IMF) has published information that proves inflation in the UK and other European countries is being driven by the greed of corporations that have been pushing their profits up for no good reason.

Here’s the evidence:

(Some might say this applies only to countries in continental Europe but the question then is, why should it not apply to the UK too?)

So the answer to inflation is not to cut wages, and is not to increase interest rates; it is to force corporations to cut their bloated profit margins and pay for a rise in labour costs (increase wages).

This is the opposite of what Rishi Sunak and his corporate stooges in government have been saying since the crisis began. It seems clear that they have been lying to you all along.

And what’s he doing about it now?

His latest plan is to renege on all his promises about following the advice of pay review bodies:

“Workers need to recognise the economic context we are in.” Okay; well, this worker recognises that major corporations, many of which are probably donors to the Conservative Party and individual Tory MPs, have caused inflation by artificially increasing their prices. Now they’ve been caught doing it, they should cut their prices and increase wage to at least match the current inflation rate or be penalised for it.

This is what I expect my government to enforce.

(I don’t think it will happen for a single moment, but I do think that the longer Sunak refuses to do it, the more people will realise that he, his government and the corps funding them are all crooks and vampires, sucking out the lifeblood of the UK.)

Sunak is talking utter bollocks about it, of course:

People won’t accept that it’s right – or even acceptable – because we all now know it isn’t.

Here’s a doctor, responding to Sunak’s attack on the public sector workforce:

Would you like more proof of what’s going on?

Here’s Howard Beckett:

Sadly, there is no pressure from the Labour Party – the UK’s official Opposition to the government – to make Sunak and his bandits do the right thing. Labour is on their side and helping to rob us all.

Proof:

This Writer will be writing to all those in government or able to influence it, calling for a change of policy to demand responsibility from the corporations, and I urge you to do the same.

But this time I think we’re all going to have to get out of our armchairs and onto the streets – possibly with blazing old-style torches and pitchforks – to demand action “or else”.

You know what I mean: French-style.

Or would you rather just lie back like a weakling and let these fat cats carry on robbing you?


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Aldi boss blames minimum wage for driving up the cost of groceries

Groceries: the boss of a supermarket chain whose sales leapt up by 27 per cent between December 2021 and December 2022 reckons it’s the minimum wage that’s pushing prices up.

[UPDATE: it seems the information about Aldi and it’s boss, on which this article was based – from the Telegraph – may not have been accurate. See this article for the evidence.]

How do you like this hypocrisy?

Giles Hurley, chief executive of Aldi in the UK and Ireland… has warned Downing Street that increases in the minimum wage will drive up food prices for shoppers.

How short-sighted, too!

He’s telling people who only want to be paid enough to afford the high cost of his groceries that it is their demand that is pushing up prices!

What a lot of hogwash. The lowest-paid people in the country cannot possible be to blame for these high costs.

And what’s the reason for this outburst? Well…

The comments come as supermarket chiefs fight back against claims the high rate of inflation is being used as a cover for making larger profits.

The Competition and Markets Authority (CMA) has opened an investigation into supermarkets over high food and fuel prices.

Regulators want to know whether there has been a failure in competition, forcing customers to overpay.

An investigation into the fuel market by the CMA has already found evidence of increased profit margins on petrol and diesel.

This seems likely. Instead of admitting profiteering, this fatcat has chosen to offload the blame onto people who don’t have a platform to speak in their defence.

The Morning Star offers the alternative viewpoint very well:

The chief beneficiaries of food and drink price inflation are the monopoly retailers.

Tesco, Sainsbury and Asda reaped more than £4bn profits in the last financial year. They have passed on most if not all of their cost increases to customers. But they are looking after those most in need — their shareholders.

Between them, the “big three” doled out £1.4bn in dividends in 2022, the biggest increase for seven years at Sainsbury’s, topped by the 60 per cent rise — including bonanza share buybacks — at Tesco; Asda has sent £75m to its main owners, the Qatari Investment Authority and Daniel Kretinsky.

Generous remuneration packages helped chief executives avoid a visit to the local foodbank last year: unrepentant Ken Murphy [Tesco chief executive] pocketed £4.5m, while Sainsbury’s chief executive Simon Roberts struggled by on £3m.

However, Asda chair and multimillionaire Lord Stuart Rose has declared his opposition to cost-of-living wage rises this year… for striking public-sector workers.

Let’s just see what the CMA investigation says, shall we?

Source: Minimum wage rises risk driving up the cost of groceries, says Aldi boss


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The main points: it’s Vox Political’s morning headlines

DWP accused of ‘denying people their rights’ after rejecting 90% of disability benefit appeals

Food inflation: actual shop prices hit new high

Exposed: payments to LABOUR Health spokesman from private health firms

Under Keir Starmer and Wes Streeting, Labour Party policy has changed from returning the National Health Service to full public control into allowing it to be converted into even more of a front for private firms to profit from your illness.

Is the reason for this the fact that Streeting is being paid a small fortune every year by private health representatives? See for yourself:

Energy firms consulted on plan for extra profit

Energy prices are coming down at last, so what is the regulator Ofgem doing? It’s consulting the companies on a plan to increase their profit so they can be “financially resilient”.

They just made a killing (sadly, in some cases this may be said to be literal) on prices over the last year but this cash went straight to shareholders, it seems. Wouldn’t it have been better to fix dividends at a lower level and put more of that money into “financial resilience” rather than fleecing the public again?


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Brexit to blame for a third of Britain’s food price inflation

The price of Brexit: lorries waiting at Dover for the paperwork to be done.

Would you like to know why this is important?

Britain’s departure from the European Union has accounted for about a third of the increase in food bills for households since 2019, equivalent to about 250 pounds ($316), researchers from the London School of Economics and other universities said.

Although London and Brussels have an agreement allowing largely tariff-free trade in goods, barriers to exports and imports in the form of paperwork, known as non-tariff barriers, have caused delays and higher costs.

The answer is simple, if you remember:

When we were being asked to vote in the EU referendum, back in 2016, we were told again and again that Brexit would reduce paperwork, bureaucracy and red tape.

Remember?

File it as yet another Brexit lie.

Source: Brexit to blame for a third of Britain’s food bill rise, researchers say


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Energy bills: look out! The rip-off lies are coming thick and fast

Energy prices: don’t be fooled – your bill is still going to be high. But with wholesale prices at their lowest in four years, ask your supplier why.

Before you do anything else, watch this – it’s Martin Lewis explaining what the energy price cap change in July will actually mean to you:

So the first thing you need to know is that the drop in average bills from £2,500 to £2,074 is meaningless to you because you’re probably not paying the average. You would be better-off looking at it as a 17 per cent fall and working out what that means for your personal bill – after removing the standing charges, of course.

Yes, the standing charges are remaining the same, meaning you’ll pay around £300 next year, just to be able to have electricity and gas in your home. So people using less energy can’t save much by cutting their usage.

There is a consultation on the possibility of cutting the standing charge but we need to remember that our energy firms are greedy and will do their best to keep prices as high as possible, no matter what that means to you.

In the autumn and winter, bills are likely to rise again, we’re being told. This strikes me as strange, because the energy firms buy their fuel “many months in advance”. Note that we aren’t being told how many months in advance they buy it.

If, for example, it’s seven months, then in December the price of energy should be the cheapest it’s been in two years, because of this:

Energy firms have historically claimed that they “smooth out” the fluctuating cost of their product by averaging out the price over a long period of time, as well.

But This Writer has doubts when energy analysts like Cornwall Insight say further price cuts are unlikely, especially if there’s a cold winter and the UK has to compete with other countries to buy fuel.

I thought we were supposed to be buying our fuel months, or even years, in advance.

So shouldn’t the energy price this winter be extremely low?

I think we need explicit clarity on this – I mean actual, black-and-white figures showing exactly what electricity and gas have been costing the energy firms, exactly how they’ve been “smoothing out” that cost (and between what dates) and why they are apparently failing to pass on the current savings.

How are their profits at the moment? What are they projected to be over the next year?

It seems to me that we – the consumers – are being ripped off brazenly.


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Price rises have slowed – but not in line with Tory targets. Because of GREED?

Shortfall: business bosses are pushing up prices in line with nothing more than their own greed, and we’re being told to meet these extra charges despite real-terms wages cuts.

Inflation has slowed from 10.1 per cent in March to 8.7 per cent in April – a tiny decrease of 1.4 per cent, suggesting that Rishi Sunak’s aim to halve inflation will not be reached for a long time.

The figure is now being driven by food price rises. These increases could be due to Brexit, and the extra costs now associated with bringing goods into the UK from Europe, and they could be due to the fact that EU workers are no longer coming to the UK to pick our own crops, meaning much of them have been left to rot instead.

(Or at least, that’s what we’ve been told.)

The other possible reason is that this is greedflation – that prices have been raised opportunistically by supermarket bosses who have enjoyed massive increases in profit as a result.

Grocery price rises stand at 19.1 per cent. They’ve slowed but that’s no consolation when it’s a climbdown from record highs.

It is clear that much of the reason for the current high inflation rate is Tory government – decisions by the Tories have artificially increased prices and, coupled with their efforts to cut workers’ pay, may be considered deliberate attempts to impoverish millions of people.

Successful attempts as well: more than 14 million of us – nearly a quarter of the population – are now struggling.

What’s to be done?

There certainly seems to be an argument for the introduction of a grocery price regulator, albeit with more teeth than those in the energy and water industries (as we’ve seen lately).

If supermarket owners are determined to push prices through the roof, isn’t it time a cap was imposed?


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