Discover and read the best of Twitter Threads about #CostOfLivingCrisis

Most recents (24)

Day 2 of the #railstrikes. As the debate rages about the right and wrongs of it, there are 3 key things to remember:

1. The root cause of the dispute is a decision by the govt to cut £4bn from rail & tube budgets. Madness when other countries are investing in public transport.
2. Wages have been stagnant for over a decade & for many key workers, have been falling in real terms. Asking for a pay rise in the face of the biggest squeeze in living standards since 1950s, makes complete sense.
3. The wage-price spiral is a myth. The labour market today is completely different to how it has been in the past, and we are in the middle of a #costoflivingcrisis.
Read 3 tweets
Working class people are being told by Australian billionaire Rupert Murdoch & non-dom billionaire Jonathan Harmsworth that they must just accept high #inequality & the #CostOfLivingCrisis, but Britain was a much more equal society in the 1970s than it has been at any time since.
Govts are supposed to UNITE people & look after EVERYONE, but our Govt instead uses divisive 'wedge issues' like Rwanda & the strike to scare & manipulate people into believing scapegoats like asylum seekers & unions are responsible for Britain's problems.
Given a supportive news media, it's easy to manipulate people: having endured a decade of #austerity, & now a #CostOfLivingCrisis, it's hidden from voters that from 2009-19, the collective wealth of Britain's richest 1,000 people INCREASED by £480 BILLION.
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Oil prices tripled in the 1970s & inflation rose between 71 & 74, when the Tories were in Govt. Relatively powerful Unions fought for higher wages during a #CostOfLivingCrisis, the 'three-day week' lasted from 1 January - 7 March 1974, & nobody whined like hypocrite Mr 37251688.
What are the chances? 🧐
Plot twist!
Read 5 tweets
🔥New @NEF report 🔥 w/ @DominicCaddick

As UK families face #CostOfLivingCrisis the @bankofengland will hand out 💰£57bn💰 to banks by 2025, boosting their profits!

Equivalent to sending every🏡 £2000, cancelling out rise in energy price cap.

We need a policy rethink🤔
1/ Image
Overwhelming attention has been given to how changes in interest rates may increase the government's net debt servicing costs - and that QE has reduced the average maturity of government liabilities from 15 years to 4 years etc...
See 🙌👏 @WhelanKarl
2/ Image
While many (i.e. @Niesr) have done interesting, arguably controversial, analyses of some of the potential costs to the tax payer of the monetary policy framework and rate rises...
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#THREAD on this great article by Bruno De Oliveira.

69% of low-income private renters in England will be unable to eat & heat their homes at least one day per week because of rising living costs, the UK charity Crisis recently warned.

The poorest 10% of households spend up to three times more of their family budget on food & energy bills as compared to the wealthiest 10%, according to the Resolution Foundation. The IFS estimates that inflation rates for these poorest families could reach over 10% in 2022.
A growing body of evidence strongly suggests that #austerity policies are at least partially responsible for life expectancy stalling in England & Wales.

New research into social #inequality & mental distress shows, the psychological impact is profound.…
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#THREAD on Katherine Birbalsingh's fondness for Roger Scruton.

The Govt's Social Mobility Tsar's blog (2016 - 19) is accessible online. On April 15th, 2017, she wrote that she wants "to give them (her pupils) the chance to be just like Boris Johnson". 😬
"I’m in the game to change the stars of the children we teach, to give them the chance to be just like Boris Johnson (ie be articulate & knowledgeable & have all doors open to them in life)... Michaela make(s) social mobility a possibility for anyone who chooses to work hard." 😬
Birbalsingh expresses her adoration for @Conservatives' favourite controversial hard-right reactionary traditionalist contrarian intellectual grifter, Roger Scruton, after a visit to her Michaela school - she compares him to Brad Pitt.😬

Let's talk about Roger Scruton...
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A great & timely read: 'Spin Dictators: The Changing Face of Tyranny in the 21st Century', by Sergei Guriev & Daniel Treisman.

How a new breed of dictators hold power by manipulating information & faking democracy.

Does Britain have a #SpinDictator?…

Over the past 40 years or so, the face of dictatorship has changed a great deal. Could Britain's increasingly antidemocratic & authoritarian Government mean Britain could be joining the likes of Hungary, Turkey & Rwanda in becoming an autocracy?…
The most notorious tyrants of the 20th century, including Hitler, Stalin, Mao Zedong & Idi Amin, ruled by means of mass violence, cults of personality, rigid ideological conformity, all-encompassing censorship & the exclusion of unwelcome foreign influences from their countries.
Read 28 tweets

Under the Tories, the proportion of pupils eligible for free school meals has risen again, & now stands at 22.5%.

Nearly 2 MILLION schoolchildren in English schools were eligible for free school meals at the start of this year, government data shows.

#SunlitUplands Image
22.5% of pupils in English schools were eligible for free school meals (FSM) in January - an increase of 160,000 on last year's figure - described as "shocking" by headteachers' leaders.

This thread is based on this article:…
School leaders' Unions warned that these pupils' circumstances could become even "more severe" due to the #CostOfLivingCrisis & called for additional funding "for both educational & pastoral support".

No doubt the Mail & Tory MPs will ramp up their anti-union rhetoric, as usual. ImageImage
Read 16 tweets

Bonuses in the financial & insurance sector have hit a record high, growing by 27.9% over the last year, while average wages in the same period grew by just 4.2% - nearly £6BILLION was paid out in City bonuses in March alone.

#LevellingUp #CostOfLivingCrisis
“There is no justification for such obscene City bonuses at the best of times – let alone during a #CostOfLivingCrisis. While City executives rake it in, millions are struggling to keep their heads above water.” - Frances O’Grady, TUC general secretary.…
“Working people are at breaking point, having been left badly exposed to soaring bills after a decade of standstill wages & universal credit cuts. Ministers have no hesitation in calling for public sector pay restraint, but turn a blind eye to shocking City excess.”

Read 5 tweets
Johnson latest bluster

- 6 months ago supply and demand would have stabilised
- then Putin started the war
- no reference to inflationary pressures which were happening before the war
- the speech references Ukraine, Putin, the Queen frequently to confuse search engines later
- over time economic pressure of Ukraine will lessen
- not using uncontrolled immigration to sort workforce
- getting people off benefit in to work
- repeated all measures so far (£37billion)
- back Britain (search engine red herring)
- mentions fiscal responsibility (austerity coming)
- last year largest growing economy in G7 (because we dropped furthest)
- no Government can protect everyone from all pressures (?nothing more coming)
- you can't spend your way out of it (more austerity)
Read 10 tweets
Before the @Conservatives came to power, in 2009, 26,000 people used food banks. Now, well over 2 MILLION do.

Yet since 2009, the wealth of the UK's richest 1,000 people - many of them the Tory donors Nadine Dorries refers to - INCREASED by £500 BILLION.

12 years of catastrophic Tory misrule has brought Britain to the brink of a #HumanitarianCrisis.

Millions have to choose between eating & heating. 1 in 6 have used a food bank this year, & for the first time, donations to food banks are drying up due to the #CostOfLivingCrisis
In response, Tory-supporting tax-avoiding foreign/non-dom billionaires are ramping up the #propaganda - as they ALWAYS do when greedy selfish bastards like them have taken more than their fair share. So rather than focus on food banks, we get the demonisation of Unions & workers.
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Whoever rebranded “

Economy a shambles”
“cost of living crisis”

deserves a pay rise #marketing #spin #CostOfLivingCrisis #inflation
The inflation is really big...
Read 3 tweets
The @Conservatives & Boris Johnson are in BIG trouble: Johnson performed worse than Major & May in their leadership challenges in 1995 & 2019, & he faced as much opposition as Margaret Thatcher did in the first round of her leadership contest in 1990.…
The history of such confidence votes in leaders of the @Conservatives tells us that they almost always end up damaging both the leader AND the party, even when they support the incumbent.

We have seen this happening on three successive occasions over the past 32 years.
A #voteofnoconfidence itself inevitably weakens rather than strengthens the position of the leader & this erodes support for the party among the voters.

Polling consistently shows that the Wakefield & the Honiton & Tiverton by-elections are likely to result in two losses.
Read 6 tweets
I find myself writing yet another thread on the crisis facing Free School Meals, but can’t help think it’s probably my most important

There are currently two major issues combining to create a crisis in schools & the leadership of ALL political parties need to step up & act now
Firstly, as the Teaching unions highlighted this week 👇🏻 because of the #CostOfLivingCrisis there is a desperate need to increase Free School Meals eligibility to everyone claiming Universal Credit

Feeding families struggling in destitution should be everyones top priority
Secondly is the fact that FSM, specifically Universal Infant Free School Meals is desperately underfunded

Schools with UIFSM get a grant of £2.34 per meal

£2.30 = 2011 average cost + last years 4p rise

Thats £2.34 to cover everything

Ingredients, Staff, Utilities, everything!
Read 26 tweets
It’s fabulous to see the Teaching Unions putting forward a united message about expanding Free school meals and prioritising those children in greatest need

This is something I’ve been saying for years and years

Delighted to see them catch up and speak out
I’m less enamoured with those who’ve spent huge political capital promoting Universal FSM

It’s clear the UIFSM policy has few if any health or educational benefits, it’s underfunded & wasteful

All along, we should have be focused on FSM support going to those in greatest need
I very much feel that a proposal to expand FSM to everyone receiving Universal Credit would be better received by ministers if it were allied to abandoning UIFSM and reusing the funds on those in need

It’s hard to argue for both increased targeted support & universal FSM
Read 8 tweets

Tony Blair's son, Euan, who started his career in investment banking & now has a £22 MILLION London home, founded an apprenticeship training BUSINESS now valued at £700 MILLION, & has been awarded an MBE for "services to education".

In the UK, social mobility is dead.
Last year it was reported that Euan Blair's start-up – Multiverse – had been valued at £639 million, making him worth around £160 million.

I'm sure it's just a coincidence his dad is Tony Blair.

But did he really benefit from an accident of birth?…
Nothing against Euan Blair, & I don't know much about his Multiverse business, but imho his life trajectory highlights unequal Britain's absence of true meritocracy & the abject failure of successive Govt's to break the elite stranglehold on top jobs & improve social mobility.
Read 60 tweets
🧵With (some) Tory MPs finally acting against their corrupt sham of a PM*, it would be great to see current and former politicians of all allegiances joining @99Organisation.


🏘️Many politicians want to improve their communities
🧒& invest wisely in the future so today's children have a better life
💷& end mass impoverishment

😡Our increasingly polarising, vitriolic & corrupt Cabinet is good for almost no-one.

🚨It's very bad for 99% of us.

👩‍⚖️Johnson is the first serving PM to be found guilty of a criminal offence
🗑️He won't resign
🪧Our democratic rights are vanishing
🥣Most of us are getting poorer (largely due to Brexit & Govt bungling, compounded by COVID & war in Ukraine)
🪙 While Govt friends get richer

Read 9 tweets

There's much about #fascism that is largely hidden from us in Britain.

#Fascist ideas prospered politically only when perceived economic threats increased their appeal to members of certain social groups.

In 1928, before the onset of the Great Depression in Germany, Hitler received less than 3 percent of the vote; after 1930, however, far more voters—many of them middle and lower-middle class individuals fearful of “proletarianization”—gave him their support.
The economic anxiety underlying the success of Nazism was reflected to some extent in party membership, which was drawn disproportionately from economic elites and other high-status groups—especially for leadership positions.
Read 110 tweets
I don’t know why so many people working in wealth management keep requesting to connect and speak with me.
If you work in wealth management, I think you should know:

👉🏽 Nearly half of everyone in the UK that lives in poverty is disabled or lives with a disabled family member.
👉🏽 More than 600,000 disabled people in the UK are estimated to have £10 or less per week to pay for food and other costs.
👉🏽 Disabled people have to pay more to try and live the same lives as non-disabled people, but we have less or no choice due to inaccessibility, ableism and stigmas against us.
Read 18 tweets
It’s truly amazing and unique that the Tories have been more generous than Labour. Sunak’s package for the #CostOfLivingCrisis is bigger and wider than Labour’s proposal. For every Labour leader in my memory, Foot, Kinnock, Smith, Blair, Brown, Miliband and Corbyn
2/ the opposite was true. Labour’s financial proposals have been fairer, wider and more generous than Tory proposals. For the first time under Starmer, Labour is behind the Tories on this. For the first time, Labour cannot legitimately say “you haven’t done enough,
3/ we would have done more and better.” Claiming credit for the idea of a windfall tax by Labour pales beneath the breadth of the Tory package. Starmer’s trying to out Tory the Tories strategy has been a failure from the beginning. The ‘real’ Tories despite all their
Read 7 tweets

A new research report from colleagues at Sheffield Hallam University shows that for the bits of Britain most in need of “levelling up”, full employment is simply a myth.

The report - the sixth in a series that has been published every five years since 1997 - reveals the real level of unemployment in Britain by adding in the hidden unemployed – people who are on incapacity benefits but who would be working in a truly full employment economy.
The real unemployment total is around 2.34 million – a million higher than the Govt claims.

Official measures fail to adjust for distortions arising from the operation of the benefits system - how very large numbers of incapacity-related claimants hide substantial unemployment.
Read 14 tweets
In dealing with the highest level of inflation since 1982, many comments on unions being stronger to protect their members before the Tories took their rights away. There were other big differences (see Thread). Any analysis of the current crisis has to include all of these.
1/ Housing: most renters were in council homes (effectively rent control). Right to buy introduced by the Tories effectively destroyed council housing and boosted the private rental sector. There is no control on rents.
2/ Benefits were adjusted by the RPI measure of inflation not the current CPI one. CPI excludes housing cots and is therefore almost always lower. For instance in April '22, CPI was 9% but RPI was 11%. The Tories made the switch from RPI to CPI. Source:…
Read 9 tweets
Looking forward to what should be a timely update & discussion on the government’s environmental land
management schemes #APPGEnvironment
Lord Benyon discusses the work the government is doing with stakeholders, including the NFU, to reduce environmental impact of agriculture. Commits to 75% of UK farmers engaging in low carbon practises by 2030, increasing to 80% by 2035 #APPGEnvironment
Benyon moves on to the ELM schemes - which will include measures to improve biodiversity, decrease species decline, increase woodland planting, and decrease carbon emissions of agriculture & improve water quality #APPGEnvironment
Read 25 tweets

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