Last week’s quarter point cut in Bank of England base rate appears unlikely to filter through to borrowers to any appreciable extent. Only a handful of lenders have passed on the cut through their standard variable rate deals and several, including Nationwide, Alliance & Leicester and Britannia have actually increased the rates they charge borrowers.
Today, Halifax announced that it is increasing one of its two-year fixed mortgage rate deals from 6.09 per cent to 6.59 per cent, adding £46 a month to borrowers' repayments on a £150,000 loan.
Meanwhile, Home Secretary Jacqui Smith has announced funding for 300 additional police posts to target radicalisation among young Muslims.
The coincidence of the announcement with the local government election campaign has not gone unnoticed. Announcements of this sort ought not to be made during the “purdah” period of three weeks prior to an election. Indeed, it was the “purdah” rule that was cited as the Post Office’s reason for suspending the round of branch closure announcements. Sauce for the goose is apparently not sauce for the gander.
I doubt, however, that Smith’s announcement will do Labour much good. People have become accustomed to their M.O.
I received an e-mail from a constituent today that sets out, more simply and eloquently than I ever could, precisely why Labour, for all their continued spinning, are doing so badly in the polls:
People need to see something being done that has some sort of effect for them. Working class people like us judge the state of the economy on what is in our own pockets. If we have less money, things are bad, if we have more, things are good. It is a simplistic and basic way of assessing and passing judgment on forces which are often beyond our control or understanding.
Crime and anti-social behaviour is no different. It doesn’t matter what the statistics say. It doesn’t matter how many glossy reports we see in the papers promoted by PR departments about multi-agency action days and initiatives. People judge the situation on what they see. If the peaceful enjoyment of their home comes easier, things are good. If the nuisance continues or worsens, things are bad.
It need not be any more complicated.
Nothing to add, really.
Today, Halifax announced that it is increasing one of its two-year fixed mortgage rate deals from 6.09 per cent to 6.59 per cent, adding £46 a month to borrowers' repayments on a £150,000 loan.
Meanwhile, Home Secretary Jacqui Smith has announced funding for 300 additional police posts to target radicalisation among young Muslims.
The coincidence of the announcement with the local government election campaign has not gone unnoticed. Announcements of this sort ought not to be made during the “purdah” period of three weeks prior to an election. Indeed, it was the “purdah” rule that was cited as the Post Office’s reason for suspending the round of branch closure announcements. Sauce for the goose is apparently not sauce for the gander.
I doubt, however, that Smith’s announcement will do Labour much good. People have become accustomed to their M.O.
I received an e-mail from a constituent today that sets out, more simply and eloquently than I ever could, precisely why Labour, for all their continued spinning, are doing so badly in the polls:
People need to see something being done that has some sort of effect for them. Working class people like us judge the state of the economy on what is in our own pockets. If we have less money, things are bad, if we have more, things are good. It is a simplistic and basic way of assessing and passing judgment on forces which are often beyond our control or understanding.
Crime and anti-social behaviour is no different. It doesn’t matter what the statistics say. It doesn’t matter how many glossy reports we see in the papers promoted by PR departments about multi-agency action days and initiatives. People judge the situation on what they see. If the peaceful enjoyment of their home comes easier, things are good. If the nuisance continues or worsens, things are bad.
It need not be any more complicated.
Nothing to add, really.


