Current Affairs Cost of living…

[tsubaki]

To ease this, would require pretty radical legislation that simply won’t happen no matter who is in power.

I don't think radical legislation would be required, even at this point.

All you would need to do to fix most of the problems affecting the country these days would be to have honest and competent leadership. I agree we probably won't get that with the current leadership of both main parties, but it isn't hard to find people who would do a better job - and with how our Parliament is set up we are probably more able to get that leadership in place than most other countries are.

 

[Rita_Poon]

North east worst off, 12.7% drop in child numbers.

Schools could be forced to close amid drop in pupils - think tank

Research suggests pupil numbers are projected to fall the most in areas like Lambeth and Lewisham.

www.bbc.co.uk

make families suffer and the fall out is there's less of em. less people less tax. well played torys. oh the irony of top shagger boris and his legion of backroom kids.

 

[NilSatisOptimum]

The UK's biggest supermarket chain [Tesco] said pre-tax profits hit £2.3bn, up from £882m in the year to 24 February.

Tesco says price pressures easing as profits soar

The UK's biggest supermarket chain made annual pre-tax profits of nearly £2.3bn up from £882m.

www.bbc.co.uk

Let's just face facts eh? The UK always used to be known as "RIP OFF Britain", because of the prices that could be charged here, and nothing's changed. Instead of the market working so that companies have to charge the lowest price they can, they charge the very highest prices they can get away with here in the UK.

 

[ArtetaMoney]

Price of crumpets is coming down, thank the Lord.

 

[Spadge Vernacular]

This article from December shows the extent some of these companies have gone to, to rob us blind. It is a disgrace.

• ExxonMobil: profits of £15bn increased to £53bn
• Shell: £16bn up to £44bn
• Glencore: £1.9 bn up to £14.8bn
• Archer-Daniels-Midland: £1.4bn up to £3.16bn
• Kraft Heinz: £265m up to £1.8bn

Tesco now added to the list of shiils (profits up by 160% to £2.3billion)

Greedflation: corporate profiteering ‘significantly’ boosted global prices, study shows

Multinationals in particular hiked prices far above rise in costs to deliver an outsize impact on cost of living crisis, report concludes

www.theguardian.com

There is a decent analysis of the grocery sector profiteering here.

https://www.unitetheunion.org/what-we-do/unite-investigates/new-analysis-rips-apart-dodgy-claims-of-squeezed-supermarket-profits/unite-investigates-food-profiteering-update-june-2023

 

[cronullasharks]

This article from December shows the extent some of these companies have gone to, to rob us blind. It is a disgrace.

• ExxonMobil: profits of £15bn increased to £53bn
• Shell: £16bn up to £44bn
• Glencore: £1.9 bn up to £14.8bn
• Archer-Daniels-Midland: £1.4bn up to £3.16bn
• Kraft Heinz: £265m up to £1.8bn

Tesco now added to the list of shiils (profits up by 160% to £2.3billion)

Greedflation: corporate profiteering ‘significantly’ boosted global prices, study shows

Multinationals in particular hiked prices far above rise in costs to deliver an outsize impact on cost of living crisis, report concludes

www.theguardian.com

There is a decent analysis of the grocery sector profiteering here.

https://www.unitetheunion.org/what-...vestigates-food-profiteering-update-june-2023

Got our own grocery enquiry going on here, though I find all this stuff a complete and utter waste of time as nothing ever comes of it. People like this Brad Banducci here get their name muddied a bit for a few weeks but will cycle off with a few more million to his name.

Woolies CEO threatened with jail in heated Senate hearing clash over supermarket profits

Woolworths chief executive Brad Banducci has been warned of possible jail time for holding the Senate in contempt during a tense committee hearing.

www.sbs.com.au

 

[Mr. White]

Profit isn't a dirty word.

And a profitable business, for many reasons, is preferable to a loss-making business.

And how do you define what an acceptable profit/return is? Should it be break-even only? Is a tiny profit OK? At what point does an acceptable profit become unacceptable? Who decides?

Also, think longer term... these companies don't make profits every year. Some years they lose money, maybe massive losses. These financial results need to be evened out over a period of time.

 

[orchard]

Profit isn't a dirty word.

And a profitable business, for many reasons, is preferable to a loss-making business.

And how do you define what an acceptable profit/return is? Should it be break-even only? Is a tiny profit OK? At what point does an acceptable profit become unacceptable? Who decides?

Also, think longer term... these companies don't make profits every year. Some years they lose money, maybe massive losses. These financial results need to be evened out over a period of time.

Who are you asking mate ? I'm here for you if you need to talk, okay ?

 

[Mr. White]

Who are you asking mate ? I'm here for you if you need to talk, okay ?

I'm asking you...

 

[orchard]

Profit isn't a dirty word.

And a profitable business, for many reasons, is preferable to a loss-making business.

And how do you define what an acceptable profit/return is? Should it be break-even only? Is a tiny profit OK? At what point does an acceptable profit become unacceptable? Who decides?

Also, think longer term... these companies don't make profits every year. Some years they lose money, maybe massive losses. These financial results need to be evened out over a period of time.

Anyway, there's a lot of good questions there for us to ponder thanks.

Have you thought about whether these firms are monopolies? Work together on pricing ? Operate Internationally? Get to chat with a minister when they want unlike Doris down the street who might get to see a councillor once every four years, if she's lucky, and even then they may not be much help keeping her afloat financially ? Does their pricing effect things like other industries that then need bailing out by the public ? Will strict pricing control cause farmers to grow 'bird food' for benefits rather than our food on such a scale that the government has to step in and cap the enrolment to protect the interests of supermarkets? Do corpo's pay us when our government steps in to safeguard that international contract?

Does this all seem a bit one-sided to you ?

 

[tsubaki]

Profit isn't a dirty word.

And a profitable business, for many reasons, is preferable to a loss-making business.

And how do you define what an acceptable profit/return is? Should it be break-even only? Is a tiny profit OK? At what point does an acceptable profit become unacceptable? Who decides?

Also, think longer term... these companies don't make profits every year. Some years they lose money, maybe massive losses. These financial results need to be evened out over a period of time.

When the supermarkets are making profits at the expense of those who actually produce the food, it is a dirty word. Farmers have been going on about this for years.

 

[Rita_Poon]

Does this all seem a bit one-sided to you ?

Hey, so long as I'm on the side of grace and favour I'm completely not arsed!
Why?
I'm alright Jack!

 

[Spadge Vernacular]

Profit isn't a dirty word.

And a profitable business, for many reasons, is preferable to a loss-making business.

And how do you define what an acceptable profit/return is? Should it be break-even only? Is a tiny profit OK? At what point does an acceptable profit become unacceptable? Who decides?

Also, think longer term... these companies don't make profits every year. Some years they lose money, maybe massive losses. These financial results need to be evened out over a period of time.

Profit and profiteering are different words.

Tesco, for example, don't produce any goods. But we allow them to dominate the buyer, supplier power matrix - screw the producer and end user. People will wake up to this, and the sooner the better, in my opinion.

Example

Groceries Supply Code of Practice - Hansard - UK Parliament

Hansard record of the item : 'Groceries Supply Code of Practice' on Monday 22 January 2024.

hansard.parliament.uk

Farmers say industry 'on its knees' as they call for supermarkets to be fairer when buying produce

Some farmers claim supermarkets drive their buying prices down, often below the cost of production, with one calling it "a disaster environmentally, socially and commercially".

news.sky.com

 

[Mr. White]

Anyway, there's a lot of good questions there for us to ponder thanks.

Have you thought about whether these firms are monopolies? Work together on pricing ? Operate Internationally? Get to chat with a minister when they want unlike Doris down the street who might get to see a councillor once every four years, if she's lucky, and even then they may not be much help keeping her afloat financially ? Does their pricing effect things like other industries that then need bailing out by the public ? Will strict pricing control cause farmers to grow 'bird food' for benefits rather than our food on such a scale that the government has to step in and cap the enrolment to protect the interests of supermarkets? Do corpo's pay us when our government steps in to safeguard that international contract?

Does this all seem a bit one-sided to you ?

A lot of these companies are truly global in their scope. Only a relatively small proportion of their profits are generated in the UK.

Many FTSE 100 companies are only stock-market listed in the UK. They are not UK companies.

They choose to be listed here. They don't have to be. They are here because The UK is an attractive country to be based, and is a co-operative host. But, they don't have to be based here!

They can easily move their home base and central operations, staff, and tax contributions to other countries if the UK becomes an inhospitable place to be based. I'm not saying that's right, but that's how it is.

Massive global companies have leverage.

 

[Mr. White]

Profit and profiteering are different words.

Tesco, for example, don't produce any goods. But we allow them to dominate the buyer, supplier power matrix - screw the producer and end user. People will wake up to this, and the sooner the better, in my opinion.

Example

Groceries Supply Code of Practice - Hansard - UK Parliament

Hansard record of the item : 'Groceries Supply Code of Practice' on Monday 22 January 2024.

hansard.parliament.uk

Farmers say industry 'on its knees' as they call for supermarkets to be fairer when buying produce

Some farmers claim supermarkets drive their buying prices down, often below the cost of production, with one calling it "a disaster environmentally, socially and commercially".

news.sky.com

I don't like to see big supermarkets bullying smaller suppliers and consumers.

But, we 'allow them' by supporting them! The British public, in general, turned their back on local businesses a long time ago. They chose supermarkets for convenience.

As for "people will wake up"... don't hold your breath!