Oh what a lovely Christmas present we have had today, from some of the experts on The Bank of England Monetary Policy Committee, the experts who set the bank interest rates.
Today some of those experts have said they expect interest rates in the New Year to rise to around 5%, that will mean those with mortgages will be charged around 7.5% or more, that's another £220 or so more each month on the average mortgage.
Add all of that to the number of jobs being lost in the public sector and in particular Birmingham, then there is the forcasted downturn in GDP which is forcasted at 0.2% well down on George Osbourne's original prediction in June, the increase in VAT hitting in immediately after Christmas and to top everything off, we're all in this together. Well I'm not in it!!!!!!!!
I doubt if David Cameron and most of his cabinet are in it either, after all nearly all of them are millionaires and certainly won't be hit with cuts in benefits, loss of a job or even worrying about a sizable increase in mortgage rates.
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