News0 min ago
Just Been...
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...checking my bank account on line. Noticed a credit today from the DWP for £10. Couldn't understand it then it suddenly dawned; the £10 Christmas bonus. Forgot totally about that. The £10 was introduced by Ted Heath in 1972. If it had kept pace with inflation, what should it have been today?
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For more on marking an answer as the "Best Answer", please visit our FAQ.sorry how did decimalistation increase it by 240% in a day? we went from 240d to 100np but a pound was still a pound. I know there was inflation because of shop keepers using it as an excuse to hike prices but 240% sorry jim don't follow you there. And the £10 was introduced after decimalisation anyway.
Of course it did, because that was 1971 I think. My mistake. Also I overlooked that the pound stayed the same but the definition of a penny changed, another silly error. Whoops.
It would have been 240% rather than 2.4%, though, because the value of a new penny was equivalent to the vale of 2.4 old pence, making for an effective change of (2.4/1)*100% = 240%. Since inflation is measured by the pound it doesn't matter, though.
(I think there's another error, in that inflation is usually measured as (new-old)/old rather than just new/old. But never mind.
It would have been 240% rather than 2.4%, though, because the value of a new penny was equivalent to the vale of 2.4 old pence, making for an effective change of (2.4/1)*100% = 240%. Since inflation is measured by the pound it doesn't matter, though.
(I think there's another error, in that inflation is usually measured as (new-old)/old rather than just new/old. But never mind.
TTT
If you are eligible,then you should receive it any time soon.
https:/ /www.go v.uk/ch ristmas -bonus/ eligibi lity
If you are eligible,then you should receive it any time soon.
https:/
On the plus side, for those that receive it the winter fuel allowance more than makes up for reduction in the real value of the Christmas Bonus.
The bonus does look mean now but I don't think any government will scrap it (it'd be accused of taxing old age or penny pinching) or increase it since anything other than a huge (and probably unaffordable) increase would be seen as a joke/insult.
The bonus does look mean now but I don't think any government will scrap it (it'd be accused of taxing old age or penny pinching) or increase it since anything other than a huge (and probably unaffordable) increase would be seen as a joke/insult.