On a scale of 1 to 10, we're Fcked!

[vetran]

Well £10B of the "tories" blackhole seems to be the pay rises Labour awarded to the strikers. Maybe the other £10B will turn out to be Kier's wardrobe costs?

[vetran]

Well the markets are reacting like Liz & Kwasi are back!

Updated 2 minutes ago10:42amBond yields drop ahead of Budget speech9:42amStarmer: Budget is a ‘huge day’ for UK8:53amLabour all but confirms Budget increase to employer National Insurance contributions8:04amUK stocks fall ahead of Budget7:21am‘Red Rachel’ will cause ‘economic paralysis’, claims Rees-Mogg

[woody1]

I have a friend who just put all his money into a generic savings account and sleeps like a baby every day not worrying about any of this crap.

Me and the missus do the same. We've been with the same (small) building society for 12 years. They've always had competitive fixeds and trackers, which has avoided the need to change institutions, chasing decent rates, which is a right PITA with all the KYC/AML red tape these days. We also have a chunk in premium bonds for easy instant access.

If I was starting again, I'd PCA into an index tracker but I'm too for this now. I have dabbled in the stock market in the past but it's never ended well, so these days I confine my gambling urges to the premium bonds.

BTL has never appealed. I know property is usually a good investment but I couldn't be bothered with the hassle.

We prefer to moderate our spending rather than chase better returns on our money. (Having no mortgage or other debts helps)

[escapeUK]

Well the markets are reacting like Liz & Kwasi are back!

Today is the day people realise just how bad its going to be and start plotting to overthrow them.

Me and the missus do the same. We've been with the same (small) building society for 12 years. They've always had competitive fixeds and trackers, which has avoided the need to change institutions, chasing decent rates, which is a right PITA with all the KYC/AML red tape these days. We also have a chunk in premium bonds for easy instant access.

Hargreaves Lansdown have a great system where you can keep your savings with them, yet you have access to other banks rates via their website. Its called Active Savings. The ISA works the same way too. So there is no KYC at all, because H&L already did it.

I have premium bonds too, which have been very lucky this year and all tax free too. Though admittedly I am concerned that I am in fact loaning money to a government I despise.

[willendure]

I do not use ordinary savings accounts for investing cash, because the interest rates are not attractive enough. Although, I understand if you need instant or relatively short notice access to cash.

I read this book recently on income investing, and I found it very helpful in giving an overall picture of where fixed income yield can be found, and at what risks, and the relative risk picture versus other investing options. "The Income Factory". As far as I can tell the author is not selling you anything, just written a half-decent book on the subject:

https://www.amazon.co.uk/gp/product/...?ie=UTF8&psc=1

I have looked up many of the funds mentioned in the book and they are available through tax-free investment wrappers ISAs, SIPPs.

[WTFH]

Got shares? You're Fcked!
Inherited a house from your parents and you rent it out? You're Fcked!
Built a "buy to let empire"? You're Fcked!
Own an asset of any kind? You're Fcked!
Got a private pension? You're Fcked!
Been paid partly in equity? You're Fcked!
Built a business from scratch? You're Fcked!
Employ other people? You're Fcked!

Do Fck all? Own Fck all? Have no aspirations whatsoever? You'll be fine, the government will look after you!

Remember comrades, all property is theft!

Believe everything the far right tell you? You're melted.

[Snooky]

Well the markets are reacting like Liz & Kwasi are back!

Which markets are you talking about because the major indices and FX rates are just showing fairly normal variations?

[WTFH]

Which markets are you talking about because the major indices and FX rates are just showing fairly normal variations?

He was posting what GBeebies told him, and it was before the budget was announced. Just FUD being spread by the far right to its unquestioning believers.

[jamesbrown]

He was posting what GBeebies told him, and it was before the budget was announced. Just FUD being spread by the far right to its unquestioning believers.

TBF, the 10-year gilt yield has been rising for some time, partly in response to the reported change in fiscal rules and increased borrowing, and it continued that trend today. There will be consequences of stagnating growth and higher borrowing, but we were set on this path under all possible gov'ts.

[jamesbrown]

Current actual FT headline, "UK borrowing costs jump as Reeves’ spending plans unnerve investors". Obviously, we're not in lettuce territory yet, but markets are unbothered by which politicians are dramatically increasing borrowing in the face of stagnant growth. Again, we're pretty set on this path now, along with much of Europe.