Any Economists On Here?

[maggiebee]

The cost of winter fuel payments is £3bn a year.

The profits of the big four gas supply giants in 2023 was £65bn.

Just wondering if any clever economists out there can see any possible solutions to this conundrum?

[dave50]

Stop overseas aid.

[newmodarmy]

Are you sure?

Are those profits all in UK?

Have you got the figures by company?

[DDIL]

Good evening Maggie,

I do think there are a few bankers on here.

I wonder what solution there could be?

Apparently the pension is also going up with all pensioners expected to get a £300 increase and some getting a £400 increase.

[newmodarmy]

And have you got a figure for tax they already pay including the levy Sunak introduced?

[newmodarmy]

Yes DDIL...lots of rich pensionerslivong yhe life of Riley on less than the amount deemed to be a living wage.

[SIRandyraven]

How much money have we given to Ukraine?

How much are illegal refugee costing to house and feed per year?

Whats the current foreign aid budget?

 

[gingejbee]

If the suggestion is that the energy supply companies should somehow give some of their profits to help pensioners...you'll be suggesting that the big supermarket companies should do the same to help with higher food prices?

[newmodarmy]

Yes I have a degree in Economics. If you can give me the source of your figures I'll tel you whether you have hit on something or been misinformed.

[newmodarmy]

^ tell. Keyboard is missing letters and spaces today.

[newmodarmy]

Have you included the losses of the suppliers who have gone bust on last few years?

[ToraToraTora]

there's the 11.6bn we are going to give to foreigners for "climate change initiatives" use that.

[pastafreak]

17:36...pensioners getting £300 and £400...what is that for? The winter fuel payments are £200 and £300. Which sure as heck isn't enough to stay comfortably warm with.

[DDIL]

Good evening it was just some figures that popped up on my phone today. 

[THECORBYLOON]

https://www.independent.co.uk/news/uk/home-news/energy-companies-profits-cost-of-living-crisis-fuel-b2496666.html

 

'Energy companies raked in “eye-watering” profits of more than £1bn a week around the world last year as millions of hard-pressed Britons struggled to heat their homes or pay their bills in the ongoing cost of living crisis, The Independent can reveal.

Shell, Equinor, ExxonMobil and BP – some of the UK’s biggest suppliers of gas – made £65bn in net profits in 2023, leading campaigners to accuse the multinational firms of “stoking the energy bills crisis”.'

Those are global profits, not only from the UK and it doesn't mention anything about taxes paid on those profits in the rest of the world.

[THECORBYLOON]

TORATORATORA, the £11.6 billion in aid to foreign climate change initiatives was a pledge made by the Tories for the period 2021/22 to 2025/26 and now carried on by the new government.

[ynnafymmi]

But since the Tories made that pledge the Labour Party has found a £22 billion hole in the economy.Perhaps that £11.6 billion could be better used to fill that hole,instead of giving it to African dictators and Palestinian terrorists.

[Neveracrossword]

Pastafreak, the figures of £300 and £400 are for increases in the state pension. It's mentioned in various places - the BBC,some of the papers...

[THECORBYLOON]

ynnafymmi, how much of the £11.6 billion is headed toward, "African dictators and Palestinian terrorists"?

[ToraToraTora]

18:40, yes it was one of the TINO bad ideas. Labour seem keen to reverse Tory policy and this one would get wide spread approval so they wont do that, instead they'll shaft the pensioners.

[Boto]

When the extra £300 or £400 is paid next April all other bills will have gone up, council tax etc.