More greed from big business

Energy, I kind of agree with, as for many people its either unaffordable or uses up a far higher percentage of their income than it should.

Credit card companies I have to completely disagree with. It's not a requirement to have a credit card, so if anyone thinks the rates or charges are too much, they can choose to not have a card, or cancel the one they do have.
Before you say that this may not be possible because they are in debt, in MOST cases people are in debt through their own choices or even greed - Must have this latest driver now, I can't afford it though, I'll just put it on the card.
It's easy to blame lenders for lending to people they shouldn't, but it does cut both ways, perhaps borrowers should think about what they can really afford to borrow, rather than just taking everyting on offer.
 
surefire said:
Energy, I kind of agree with, as for many people its either unaffordable or uses up a far higher percentage of their income than it should.

Credit card companies I have to completely disagree with. It's not a requirement to have a credit card, so if anyone thinks the rates or charges are too much, they can choose to not have a card, or cancel the one they do have.
Before you say that this may not be possible because they are in debt, in MOST cases people are in debt through their own choices or even greed - Must have this latest driver now, I can't afford it though, I'll just put it on the card.
It's easy to blame lenders for lending to people they shouldn't, but it does cut both ways, perhaps borrowers should think about what they can really afford to borrow, rather than just taking everyting on offer.
Click to expand...

Well said Prime minister :D

I semi-agree with this.

I have a credit card, not because I'm greedy or want, want, want. As a married man who provides the soul household income for my wife (who stays at home) and 19 month old son I have one for when an "unexpected bill" (like my car clutch and gaer box exploding) comes in and I dont have, say £500, to put it right.

I agree that responsible borrowing is essential, especially in todays financial climate, but surely responsible borrowing by the lenders is a more pruedent action. After all if credit was harder to obtain, like it used to be, people wouldn't spend beyond their means.
 
Gareth said:
Well said Prime minister :D

I semi-agree with this.

I have a credit card, not because I'm greedy or want, want, want. As a married man who provides the soul household income for my wife (who stays at home) and 19 month old son I have one for when an "unexpected bill" (like my car clutch and gaer box exploding) comes in and I dont have, say £500, to put it right.

I agree that responsible borrowing is essential, especially in todays financial climate, but surely responsible borrowing by the lenders is a more pruedent action. After all if credit was harder to obtain, like it used to be, people wouldn't spend beyond their means.
Click to expand...

As for having a card, thats fine. I have one too, I don't think I've ever been hit by interest or charges as I pay it off in full each month. However like you I like the fact in an emergency I could call upon it, and I also like the fatc I can keep my salary in my bank earning (not very much) interest each month, by spending on the card, so that by the time I have to pay it off, next months salary has been paid in, so I always keep a healthy balance.
The important thing is that I knew what I was getting into when I took it out, and I accept that. If I ever do get stung by interest or charges, I can't complain as I agreed to those terms.

I don't think you can solely blame either the lenders or the borrowers, it's a two way street really. Both sides should act responsibly.
 
I might get the figures slightly wrong!

Last 3 years the energy companies earned £15 per family profit a year, this year it's £125 and apparently Ofgem can't do anything about prices, they can only ensure that its a competitive market place - mmmmmmmm

Chris
 
Apparently the profit per cutomer fluctuates throughout the year and the £125 quoted is a snapshot at a particular time.Ove12 momths the companies reckon the net profit will be £25/40
 
chrisd said:
I might get the figures slightly wrong!

Last 3 years the energy companies earned £15 per family profit a year, this year it's £125 and apparently Ofgem can't do anything about prices, they can only ensure that its a competitive market place - mmmmmmmm

Chris
Click to expand...

To be fair, you should consider that it's predicted that by next year with no change in price, the profit per customer will fall to £90 because the wholesale price rising.
Also, consider that from 2004-2009 the same measure showed the companies making a loss.
They are also in the business of making money, not being a charity.

Perhaps its not right making an 'essential' something you buy on the free market, but whilst it is you can't blame the companies for that.
Plus there's always the option of becoming a shareholder, if they really are making insane profits, you'll cash in with your dividends and huge share price increases.
 
surefire said:
They are also in the business of making money, not being a charity.
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Actually i think it's somewhere in between. And it should be. These arent luxury items = they are necessities for teh population. I Presume (?) that when the energy companies were nationalised (for some good some not so good reasons) that there was a level of guaranteed delivery requirement, so that they dont all disappear off to Outer Krgiustan if the margins drop in teh UK.
 
Life is a bitch at present. Diesel kills me at £1.36 per litre. Add in the rises of the cost of living in every other area, whether that be heat and light, food bills, utilities such as water, telephone etc etc its no wonder I'm permanently penny pinching from the 21st to 28th of every month. Wages get swallowed up faster and faster these days!
 
My energy bills seem expensive. According to my calculations, my supplier makes just under £100 p/a per customer, which means if they supplied me without profit my bills would be £1800 a year instead of £1900. The problem is somewhere else in the chain....surely?

I hardly use a credit card, I guess the APR is 16% or thereabouts. Last month they got 23p of me.

Car fuel is the big one for me....it's getting scary.

and supermarket shopping.......bread used to be under a quid, then £1.10, now like £1.50...?!
butter was about a quid, I paid £1.60 last night.

and Beer.....it's gone crazy.
 
The Thatcher government's policy of privatising the utility companies must rank with the most self centred policies ever.

But I got 24 bottles of Bud. in Asda today for £11 so it's not all bad.:p
 
Iaing said:
The Thatcher government's policy of privatising the utility companies must rank with the most self centred policies ever.

But I got 24 bottles of Bud. in Asda today for £11 so it's not all bad.:p
Click to expand...

Here is the real problem……..you walk into Tesco and you’re greeted with racks of cut price larger or wine. Alcohol is cheaper than water. The government is near powerless to stop this cut price get pissed situation. The same as they’re powerless to stop the power generators of charging whatever they like. Today in one newspaper the Halifax is under fire for offering near instant cash into accounts. Credit card companies don’t want you to pay off your card each month, they want you to fail, that’s why the more of us pay off regular the more they put up the charges for those who cant. It’s like the energy companies, anyone on the poverty line who have these cards for their electricity, they pay a premium, more than us and yet they are the most vulnerable apparently. My father in law was on an old tariff, he was paying way over the odds. These companies don’t phone up their customers and say ”we have a cheaper tariff for you”, no they just keep ripping the more vulnerable off.

It wasn’t all that long ago that Madandra put on facebook about the money a pensioner gets. While the handouts and benefits others get is way beyond that. I know a couple who are on the dole, they have a 26k 2011 volvo in their drive, full SKY multi room, they are 20k in debt and we will all be paying for this. This motobility scheme is a total rip of for us everyday hard working people, it just encourages more to milk the system. Sorry about the rant, but while we flood this country with immigrants we have record unemployment. Why is this such a no no subject. Just stop all immigration for a year or so until our unemployment goes down. Feck EU law, it’s about time we sorted this out.
 
What pisses me off is we now pay VAT on our heating and electricity bills. VAT was originally introduced to curb spending and was levied on luxury items. Who decided that the two basics of heat and light were luxuries???
 
Tommo21 said:
I know a couple who are on the dole, they have a 26k 2011 volvo in their drive, full SKY multi room, they are 20k in debt and we will all be paying for this. This motobility scheme is a total rip of for us everyday hard working people, it just encourages more to milk the system.
Click to expand...

I know a couple who live in a huge house in London, I think it's called Buckingham Palace.
My point being both my example and your example are extremes and don't really reflect the majority of the population.

Whilst I agree that benefit fraud is wrong and should be punished, I honestly do not believe MOST of the people on benefits drive brand new cars and have the latest gadgets.
 
Iaing said:
The Thatcher government's policy of privatising the utility companies must rank with the most self centred policies ever.

But I got 24 bottles of Bud. in Asda today for £11 so it's not all bad.:p
Click to expand...

It's a contrasting comment, well said.

Some things are cheaper than ever, but they're not the BIG cost outgoings for most regular family/persons in the UK. The privatisation of energy and water has meant that most of us are now tied into supporting a system which is nothing less than economic slavery to the lower-middle and lower classes. My water company made £541 million from 3.7 million homes. That's comfortably over £140 per household.....on £300 bills.
If water wasn't a disgraceful monopoly, this wouldn't happen....
 
Government (and opposition) wont do anything as more profit = more tax for the treasury, exactly the same with petrol/diesel, fags and alcohol......govt message says share cars, stop smoking and stop drinking but what they really mean is "actually we know you won't which is great as we get 80% in taxation"......some piffling sub for pensioners on winter fuel allowance is a joke..........utter hypocrisy from govt as usual but the country's broke and they know they need every penny to fix it!

I love the UK but I hate it too if u know what I mean.
 
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