How Brexit Increased the Price of Groceries?

Millions of Britons are concerned about the sudden rise in the food prices which emerged soon after Brexit. People are still not sure why or how this happened and what relation UK’s exit from the European Union might have with the grocery prices.

Let’s have a look at how this works.

Pound sterling has sunk to its lowest after Brexit

Soon after the referendum on June 23rd, the pound tumbled by an alarming ten per cent. In July 2016, the sterling was set to slide another six per cent, according to a Reuter’s poll. The currency had not been seen falling to this level since about three decades. While there is no definitive data, recent surveys suggest that Britain’s economy is shrinking with speed since the 2008-09 crises.

Dependency on imports has increased

Before the vote, the National Farmers Union (NFU) warned the ones in favour of Brexit about UK’s dependency on imports, which when combined with the plunging pound will cause the food prices to shoot. NFU’s president, Meurig Raymond, pointed that the referendum was the result of a “political car crash.”

UK farmers were not in favour of the exit. They didn’t take part in the referendum, saying that the EU membership was in the best of their interests. The farmers received up to 3 billion pounds per year in support payments from the EU. These subsidies made up about 55 percent of the total income from farming, according to government figures.

After the exit, the UK export industry is suffering

Recent price comparisons show the cost of some groceries like pasta and onions to have been up to 10% more expensive in July. An astounding 60 per cent of British food exports were being sold to the EU, and without these sales, the commerce and economy will suffer.

On the other hand, because of lower import tariffs, the UK farmers would now get a 15% decrease in the prices of beef and lamb. This isn’t good since 38% of the lamb produced in the UK goes to the EU. The prices for poultry, cheese and dairy products will also face a fall.

It was revealed that the average income of a farmer in United Kingdom was over £20,000 in 2014, and around 55 percent of that consisted of EU money.

UK produces only 60% of the food they consume locally

In the aftermath of this, Mr. Raymond told the Guardian, “Sadly, we only produce 60% of the food we consume. We’ve seen our self-sufficiency fall dramatically, so we are very dependent on imported food. So a weaker pound will mean higher imported food value.”

Prices mounting in order to keep the farms running

Minette Batters, deputy president of the NFU, admitted to Mail Online, “Prices will have to go up to ensure farms stay in profit,”

Seeing the situation, Brexiters promised that the government will make up for the subsidies, but the truth is that there has been no news about the new schemes. So far, there is nothing that could be done and ultimately, UK consumers will have to make up the shortfall in income for farmers by paying higher prices.

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Preparing for a Baby – An Important Financial Task

A baby is an amazing gift of nature, yet many people find themselves in financial disarray after having a baby enter in their lives. This is due to the fact that people do not plan properly for this important aspect of family life. According to the US government, a mean income family spends over $165,000 for the upkeep of a child from birth to reaching adulthood. This does not count in private schools or colleges or in fact pregnancy expenditures.

Most pregnancies in the United States can average around $8000 to $9000 dollars. A similar amount is often spent on preparing for the child in terms of buying the required furniture, diapers and special items. We therefore present some tips that will allow you to have the money that you will ultimately require to take care of your child.

Health Insurance

It is an excellent feeling to become a parent and you have to chin up for this responsibility. First, when planning to have a baby, go for increasing your health insurance investments. You should select a plan where you are completely satisfied about the medical facilities that you will be able to avail.

You should immediately switch your insurance if you are not comfortable with the available physicians. It may be costly to change your health insurance, but it will offer you greater advantages in the long haul.

Plan Buying Activities

Although it is an exciting prospect to have a baby, but you should curb buying tendencies as much as you can. You should only start with items that are necessary. A friend or family member with similar experience can help you a great deal in prioritizing the items that you will immediately require to take good care of your baby.

You should always take an experienced friend when going for shopping and you will find that you are able to stop buying all the items that ultimately you would never have used such as a diaper holder or a fancy suit. You should always spend properly on safety items though, such as a car seat and baby intercoms.

Reduce Current Debt

There are many unexpected financial burdens that may fall upon you after the arrival of a baby. It is best to reduce or even completely remove your current debt if possible. The best practice is to have no debt situation when a baby is entering into the family. This will allow you to have a financial margin in case you desperately have to buy something for the baby.

Baby Fund

Once you have decided to have a baby or already with a pregnancy, it is time to establish a baby fund. Both partners should contribute to this fund and leave it as such to only use in case of a baby emergency. This is an excellent way to cover the unexpected costs that are often associated with a baby.

You should also change your living style when a baby is coming into the life and learn to live under a strict budget in order to ensure that you will be able to easily manage with the additional expenses of the baby in the family.

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Why You Should Get Debt Advice

Debt is not always a sign of bad financial management. Sometimes, it also reveals poor resources, and life-threatening circumstances, which left you with no option other than a debt. Debt is not cruel, but a borrower may treat himself or herself cruelly if they do not get a debt advice.

The Myth about Debt Advice

A debt advisor is responsible to find the loopholes in your financial infrastructure and reveal you the techniques of bridging up those loopholes. Debt advice is not only for the billionaires or businessmen. Anyone, with financial complexities or seeming mismanagement, may consult a debt advisor for advice. Even people with below average yearly income may also consult debt advisors for improved financial management.

Is Debt Advice of Any Use?

Certainly, yes! A debt advisor will evaluate your debts and find out the possibilities that may help you boost your debt repayments and improve your financial management. Furthermore, the debt advice also includes resource management – a technique of multiplying the use of your resources to aid your profits or savings.

What Would A Debt Advisor Do?

It is important to remember that the debt advisor will keep your information confidential. They will neither reveal your information nor treat you in a way that may cause any type of embarrassment. Generally, only one meeting with an experienced debt advisor outlines your financial loopholes and provides a clear picture of future financial management:

  1. A debt advisor will start the process by sorting out your debts and evaluating the circumstances when you took out these debts. Most often, the borrowers are surprised to see that they did not actually need the debt. This evaluation not only provides you a better picture of your financial management but it also makes it easier for you to decide upon taking out debts in future. You will see an instant change in your debt behaviour.
  2. The advisor will then sort out the total amount of money that you owe This includes principal, interest, and other related costs.
  3. They will categorize your debts into the urgent ones and the debts, which you may delay for some time.
  4. From the urgent debts, the debt advisor will make a priority list of your debts in an order. This will help you to evaluate the amount that you can afford to repay at the moment.
  5. Finally, the advisor will work on your budget. Some debt advisors also use hi-tech budgeting tools for debt management. You can inquire about these budgeting tools from your debt advisor to use them later on for your personal finance management.
  6. The debt advisor will also guide you about possible court actions, as many times people approach the advisors when their lenders are all set to take them to the court. The advisor may also guide you about the legal techniques of delaying the court proceedings.

A debt advisor is one of your finest financial friends. They are professional people who do not want to see you leg-trapped in the debts. The sooner you get a debt advice, the sooner you will get rid of your debts and its stress.

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Plum tactics

There’s more to plumbing than meets the eye. This one job we had involved installing a full plumbing system for a private residential heated pool. The project was a big one as the pool was huge and there was no infrastructure for the proposed plan. We began work by consulting with the customer to understand exactly what they wanted. It turned out that they wanted to heat the pool using a boiler system that was part of the house’s main heater system.

This sounds like a simple job… but it couldn’t be further from the truth. We were initially happy to carry out the work in the knowledge that there was a heater system already in place. After further investigation, the heater unit was very old, unreliable and poorly installed… not too mention too weak to heat the house during a cold winter’s night, let alone a huge external pool.

The job got bigger and bigger. So now, we’ve got to install a huge boiler to accommodate the huge pool. The problem with this… is that the current boiler is located on the roof. It wouldn’t be hard to get that one down… simply a case of decommissioning it, unhooking it and throwing it off of the roof. However, getting a boiler up there that was three times the size was a very different challenge. Firstly, the roof couldn’t support the additional weight! Argh! So we had to get a builder and roofer into to install structural supports for the new boiler. This was six weeks work before any sight of said boiler.

Once the roof was up to scratch, we ordered the boiler unit and a crane to hoist it onto the flat roof. Delivery was relatively uneventful… however, installation was a pain in the @@@@. None of the fixtures or fittings were standard sizes. Where was this thing made? (It was China… we should have guessed.) The next challenge was to find parts that would fit both the boiler and the fitting that were already in place. This added another six weeks to the job and almost doubled the cost! Ouch.

Once we had the boiler installed and operational, e began cutting channels from the house to the pool where the hot water pipes and cold-water returns would be. We then began laying pipes. Once we had the core pipes laid… we began installing the swimming pool. It was like a giant jigsaw puzzle! The instructions were in Spanish… so we had to think on our feet and make things up as we went a long… this took two weeks. We eventually got everything installed an up and running. Plumbing is never easy!

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