UK IX: This Economy Will Self-Destruct In...

[Neon Ignition]

Ofgem confirms energy price cap to be updated every three months (msn.com)
Ofgem confirms the price cap will be updated every three months moving forward opening the door to households paying even more than they already were

[prinnysquad]

Get in! More profits and divvies for the hardworking executives at Centrica et al. Fully deserved after years on the breadline.

[Lebowski]

doing some research on Ofgem and it just seems like its some sort of Tory cabal designed to reward shareholders! it feels like their here to protect the energy company's and not the consumers. Ofgem allowed the doubling of standing charges when their was no real reason for this. And they are pushing through these crazy increases every 3 months now instead of every 6? they seem to only hand out fines when their hands are forced and seem massively ineffective at keeping the big 6 inline. Things are not going to come down anytime soon so now we can look forward to an increase in January too great. how is that good for consumers and how are these increases justified when these company's are making record profits?

If your in any doubt about the big energy rip off you just have to look at what current solar panel users are getting paid per unit my brother is paid one tenth of what he get charged per unit on anything he puts back into the grid, his bills are estimated to be £400 a month and that's with solar generating quite a bit for him. If energy is so valuable then why hasn't the cost paid per solar unit going up at the same pace to me it feels like they have found a way to screw over anyone who's tried to reduce their bills i really don't get how his bill is so high when his usage is so low?

[Neon Ignition]

I don't know how the Tories think any of this is going to be a vote winner come 2024

They can hardly claim to promise to bring prices down if they haven't by campaign time making the other parties jobs very easy for them on what to campaign on.

[Lebowski]

Tackling the real issues facing the UK

https://www.itv.com/news/2022-08-04/rishi-sunak-considers-compensation-for-people-hit-by-hosepipe-ban

Sunak considers compensation for people hit by hosepipe bans??? what planet are they on?

[QualityChimp]

Quick Tory update. It's 89 points long this week. Always a good read:

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[Neon Ignition]

It's a lose lose situation but that the swing is so heavily in Truss' favour cements that the rot runs through every facet of the party and its membership. To literally vote for the candidate propped up and from the corner that to this very day represents a support and continuation of Johnsonism and every wrongdoing and bad practice MP at this point means criminality and corruption has complete control of the party and its supporter base.

[Neon Ignition]

UK new car sales fell 9% in July as supply chain problems continue | Automotive industry | The Guardian
Car sales begin to fold to to supply chain issues

https://www.theguardian.com/politics/live/2022/aug/04/sajid-javid-liz-truss-conservative-party-rishi-sunak-tory-leadership-race-uk-politics-live?page=with:block-62eb819b8f08b58de97ec5e0#block-62eb819b8f08b58de97ec5e0

Javid belatedly nails his colours to Truss' mast in a further establishment of her as the Boris Party 2.0

https://www.theguardian.com/politics/live/2022/aug/04/sajid-javid-liz-truss-conservative-party-rishi-sunak-tory-leadership-race-uk-politics-live?page=with:block-62eb8dbc8f08b58de97ec64d#block-62eb8dbc8f08b58de97ec64d

Truss says an £8.8bn hole in her budget isn't something to worry about

https://www.theguardian.com/politics/live/2022/aug/04/sajid-javid-liz-truss-conservative-party-rishi-sunak-tory-leadership-race-uk-politics-live?page=with:block-62eba2bf8f08b58de97ec725#block-62eba2bf8f08b58de97ec725

Braverman has declared her support of Truss' plan to abolish all government roles that work on supporting diversity and inclusion posts within the civil service

https://www.theguardian.com/politics/live/2022/aug/04/sajid-javid-liz-truss-conservative-party-rishi-sunak-tory-leadership-race-uk-politics-live?page=with:block-62eba77b8f0892e28b4abaca#block-62eba77b8f0892e28b4abaca

Truss says she would review the Bank of England's mandate

https://www.theguardian.com/politics/live/2022/aug/04/sajid-javid-liz-truss-conservative-party-rishi-sunak-tory-leadership-race-uk-politics-live?page=with:block-62ebab9f8f08b58de97ec7be#block-62ebab9f8f08b58de97ec7be

Just as the Bank of England raises interest rates to 1.75%

https://www.theguardian.com/business/live/2022/aug/04/bank-of-england-interest-rate-decision-andrew-bailey-inflation-stock-markets-business-live?page=with:block-62eb89e08f0878ca99e20dd7#block-62eb89e08f0878ca99e20dd7

The construction industries output has entered a downfall

https://www.theguardian.com/business/live/2022/aug/04/bank-of-england-interest-rate-decision-andrew-bailey-inflation-stock-markets-business-live?page=with:block-62eba8178f0892e28b4abad0#block-62eba8178f0892e28b4abad0

Inflation will hit 13% before the end of the year

https://www.theguardian.com/business/live/2022/aug/04/bank-of-england-interest-rate-decision-andrew-bailey-inflation-stock-markets-business-live?page=with:block-62eba8a18f0878ca99e20f72#block-62eba8a18f0878ca99e20f72

And a 15-18 month deep recession will begin by October according to the Bank of England, one that will be as deep as that of the 1990's

[fishbowlhead]

Ofgem confirms energy price cap to be updated every three months (msn.com)
Ofgem confirms the price cap will be updated every three months moving forward opening the door to households paying even more than they already were

Everything is fine, stares at the nuclear waste land, nope all fine.

[Lebowski]

Dido Harding is trending as its found that the UK goverment acted unlawfully appointing Dido Harding and businessman Mike Coupe to top jobs in its response to the Covid-19 pandemic

https://www.ft.com/content/f13c3d34-ae79-4615-a748-a08ef00bcaba

Harding, is the former chief executive of TalkTalk, a Conservative peer and is married to Tory MP John Penrose, it Seems to be pretty easy to get a 35 billion pound budget if your in the senior Conservatives political circle.

It's staggering how they spent 35 billion on an app and a small call center that never worked properly. No accountability or explanation where this money went likewise i fully expect the 75 billion budget given to that small Cornish firm to get the uk to net zero will yield little to no results before they disappear.

[Asura]

If your in any doubt about the big energy rip off you just have to look at what current solar panel users are getting paid per unit my brother is paid one tenth of what he get charged per unit on anything he puts back into the grid, his bills are estimated to be £400 a month and that's with solar generating quite a bit for him. If energy is so valuable then why hasn't the cost paid per solar unit going up at the same pace to me it feels like they have found a way to screw over anyone who's tried to reduce their bills i really don't get how his bill is so high when his usage is so low?

This was obvious when the companies raised standing charge prices so much alongside unit prices. There's very little justification for this. It's literally to give customers "nowhere to run" in terms of trying to save money.

A government that cares would abolish standing charges altogether.

[Lebowski]

This was obvious when the companies raised standing charge prices so much alongside unit prices. There's very little justification for this. It's literally to give customers "nowhere to run" in terms of trying to save money.

A government that cares would abolish standing charges altogether.

The disconnect between whats really affecting the UK and what the leadership race is focusing on is baffling, no real plan to sort out the energy price issue effecting everyone in the UK, but lots of talk about regional hosepipe bans and how to ignore Scotland.

The Tory's had a real chance to get this done quickly and get rid of the failure that was the current government, but they really have dragged this out a quick win would have been getting rid of Jhonson but they lacked conviction and let him hang about like a bad smell for a few months.

Im not sure how the Tory party or the UK public can survive another month of this. I'm already sick of the embarrassing story's about Truss "Fizz with Liz" Really??? and Sunak seems to be carrying on his governments records on uturns and climbdowns.

[wakka]

Just looked up Fizz with Liz, as I'd missed that.

Liz Truss is facing the possibility of her first major sleaze probe amid claims she failed to declare "murky donations" related to her leadership campaign.

*wipes away tear* : ) they grow up so fast.

She's not even got the bloody job yet and she's already nearly got her first corruption probe.

(ref: https://www.independent.co.uk/news/u...-b2138193.html)

[fishbowlhead]

It's staggering how they spent 35 billion on an app and a small call center that never worked properly. No accountability or explanation where this money went likewise i fully expect the 75 billion budget given to that small Cornish firm to get the uk to net zero will yield little to no results before they disappear.

The hilarious thing is their not even smart enough to spend that 75billion on a Mars colony, cause you could do it for 75billion, just, and save yourself from a dead planet.

Instead of embezzling the money on something of actual use all that cash will disappear into a black hole of anonymous companies that are so obscure, and disappear. We’re all paying for that.

Lets all let that sink in for a bit.

[Neon Ignition]

https://www.theguardian.com/politics/2022/aug/04/sunak-and-truss-clash-over-cost-of-living-crisis-and-boe-recession-forecast

Sunak calls Truss out on her claim that her tax cuts can help avoid the incoming recession