“Crisis lifts credit card spends to 17-year high according to Bank of England”

Aug 31, 2022 | Economy

An independent (financial adviser’s) view

I’ve heard two interpretations of this data. That we’re all so worried about the cost of living and energy that we’re already sticking everything on the never-never, just in case. Or that it’s a sign of ‘consumer confidence’, that we’re still happy to spend, spend, spend and blow the consequences. The consequence for many last time around was to join the booming ‘we’ll get rid of your credit card debt in one easy voluntary arrangement (and you’ll probably never get a loan again)’. And the rise and fall of the payday lenders who rushed to fill that particular gap. So these could be pieces we’ll be picking up for many years to come, another can for this year’s PM to kick down the road for the next, no doubt.

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“Rachel Reeves may be forced to raise taxes”

“Rachel Reeves may be forced to raise taxes”

Why did she/they (in the old sense) think that tinkering around with IHT and CGT would be enough to sort out the NHS; and the potholes; and…and the list goes on. My guess is  that they asked the Treasury for a list of anything not involving income tax that they could get away with lightly, although they should already have learned from the winter fuel stuff that all publicity is not good publicity.