… BLAME BREXIT

 

We had a touch of rain in my little neck of the woods last night. I wonder if other areas of these Isles have been similarly blessed. I only ask because one water company has imposed a hosepipe ban starting on June 26th. As we all know: it takes a hosepipe ban to make the weathergods turn on the rain. More on that below, first a quick look at the print front pages: “Newspaper headlines: Anna Wintour’s ‘top honour’ and ‘UK mortgage rip-off’ .”(link). 

If you wonder why ‘staff’ at Auntie Beeb thinks the Nation is deeply interested in a fashionista receiving a gong, well, it’s a top story in the grauniad. The rest of the MSM couldn’t have cared less. They led with the ‘mortgage crisis’. And then there was ‘iNews’ … 

I went and looked at their ‘exclusive’:Great British interest rate rip-off: Banks pocket £4.8bn by hiking UK mortgages faster than savings” (link). Yes, dears – this is something that has been going on forever, it’s the business model of banks: higher rates for borrowers, lower rates for savers. Why is this now a problem? Haven’t savers been abused for years with nobody of the combined Left raising an eyebrow?

If you take a look at the nice graph in the report (link), you’ll see what these interest rates looked like for earlier years. The current rate pales in comparison to the earlier years, but look at the years of ‘cheap money’, of near-zero interest rates! There were even talks by international banks to create ‘negative rates’, making savers pay for the privilege of keeping their savings. I remember that – the reporters at iNews clearly don’t. 

Now though, as mortgages rise, the Left – and I count the Libdems amongst them –  isn’t simply blaming the Tories for this  because there are no global events influencing our economy, they have come up with a demand:

“Ed Davey, the leader of the Liberal Democrats, has called for a £3bn emergency mortgage protection fund to support those at risk of losing their homes because they cannot keep up with payments.” (link)

And who, pray, will pay for this ‘emergency mortgage protection fund’? Yes, we taxpaying peasants. After all, it’s only fair, innit, that ‘Teh State’ pays bennies to all, so why not for mortgage payers.

Meanwhile, the former governor of the BoE, Mark Carney, has told the DT what is to blame for the inflation (all emphases are mine):

Mark Carney has blamed stubbornly high inflation in Britain on Brexit, claiming he had warned the public that leaving the European Union would damage the economy.” (paywalled link)

He left the BoE in 2020, so obviously he must be ignorant of what befell the UK’s economy since then. Still, as former ‘top banker’ he knows, saying that:

“[…] a series of “negative supply shocks” had disrupted the economy and led to an unexpected increase in costs. He said the single biggest energy shock since the 1970s, combined with a shrinking workforce and the impact of Brexit had triggered a “unique” adjustment in the UK that he suggested could take years to unwind.” (paywalled link)

So neither covid, worldwide lockdowns and disruptions to supply chains nor the war in the Ukraine, with the demolition of NS2 gas pipelines and the green crap politics in German, closing down all their nuclear power plants, have had anything to do with anything.  It was ‘only Brexit’ … Aren’t you glad that such a wise person used to govern the BoE and influence our economy!

Having talked about ‘money’, let’s now talk about the weather! It was hot. There was no rain. People used more water. And so:

“The water company [South East Water] introduced a hosepipe ban for its 2.3 million customers on Friday, as it scrambled to turn the taps back on for residents of Wadhurst, east Sussex. It blamed last week’s hot weather, when temperatures peaked at around 30C (86F), for a record rise in demand that left it unable to supply around 4,000 homes and closed three primary schools.” (paywalled link)

Last summer, this and other Southern England water companies blamed their empty reservoirs, amidst outcries from the long-suffering public that leaks hadn’t been fixed, with Ofwat pointing out that much water was lost through leaking pipes. This time it’s different:

“The shortages came despite the water company’s two main reservoirs at Ardingly and Arlington being at almost full capacity, with the company blaming pressures on local infrastructure.” (paywalled link)

It’s as if yon water company couldn’t possibly have foreseen that more and more houses built for more and more people could have any impact on demand! And don’t ask how a hosepipe ban in a week’s time will alleviate the current ‘supply shortage’! I just love this excuse by the SE Water director ‘of operations’, saying that;

“[…] the company had not been prepared for a 20 per cent spike in demand over the weekend. “The nub of it is I cannot produce any more water at the moment. I’m producing as much water as I can. […] The customers we’ve got off at the moment are towards the end of one of our networks, and so much water is being used as it travels through the network that we can’t push enough in for that to be some left at the end. And this is something that’s been a problem for South East Water for the last three years.” (paywalled link)

Oh dear. So it has been ‘a problem’ but they couldn’t fix it during the preceding three years? Ah – I forgot: there was covid!  And so it doesn’t come as surprise when we read:

The company has been caught out by an increase in working from home among residents of commuter towns and villages that has left its supplies straining at times. This has been compounded by a perverse impact from installing water meters in around 90 per cent of homes which the company said has caused demand to actually increase during peak times, particularly in affluent areas.” (paywalled link)

‘Pervers’ it is indeed! I duly note that it’s ‘teh rich’ WFHers which are being blamed. Masses of ‘new people’ and ‘new housing’ are of course irrelevant. I’m sure it’s also ‘Because: Brexit’ – and Mrs Thatcher, who is being blamed in the comments for privatising water companies.

That’s all I have for today. Life is so simple when one is a Lefty: there’s always someone or some circumstance to blame, and when in doubt, there’s always Brexit and “Teh Rich!”. Easy. Have a good weekend.