Iceland to give 10% discounts to 60s+ on Tuesdays

[Workingman]

I am not finding my food prices rising so much as I tend to buy fresh, but I might give it a go. Iceland do have fresh produce and 10% is not to be laughed at.

Prices are rising, though, but I tend not to buy bikes, TVs, white goods, gym subscriptions, hair dos, flights, fashion and their likes on a regular basis - if ever.

The move could help some of us, the rest will probably just have to cut back.

[TheOstrich]

A welcome move by Iceland - we do use our local store, not for a great amount of stuff, but they do tend to do some reasonable "4 for £3" type offers.

BBC report says they'll accept a bus pass as proof of age, which might be the only time I get around to using it, as we have no viable bus service in North Dorset these days!

https://www.bbc.co.uk/news/business-61512945

[Workingman]

Iceland have a Food Warehouse near to Home Bargains where I get most of my household cleaning stuff, so will give it a try.

Every little helps, as one store says.

[miasmum]

I'm not keen on these sweeping 60+ things. Tim is 61 Works full time and earns a decent wage and doesn't have a bus pass anyway.

My cousin is 68 and a millionaire she certainly doesn't need it.

60 is still pretty young these days and some people in their 50's could be desperate

[Workingman]

It's a numbers thing. Some 13 million older people, OAPs, are on the breadline, not all of them are millionaires or on a decent wage, and not all of them are broke. Yet we did have a pay cut when the triple lock was abandoned. No extra hours or a move up the jobs ladder for us.

But, yes, there are those who are younger who also need help. How? It is not easy to solve, but at least this move from a private company helps some of us. Time for government to step up as well and help us all out, eh?

[Suff]

Government could help for younger people but it goes to means testing and stigma. Some of the most vulnerable would rather suffer than put up with well meaning twaddle and pontification and talking down.

Others simply will want to live their lives their way and will cut where they want to and not where someone else wants them to.

These things are Darwinian and the longer it goes on the harder the lesson is for some.

[medsec222]

Iceland probably can't do it for everyone. Teachers and nursing staff had various discounts throughout COVID. There will be plenty of pensioners on fixed incomes who will welcome a bit of discount to get them through. We can but hope that the Government will step up to help those on low incomes.

[Workingman]

It is unfortunate but there is no blanket cure. That means certain sectors / groups have to be targeted and that inevitably brings in means testing or selection of some sorts.

Then it is, as Suff says, that some do not need help and others will not accept it.

[Suff]

Right now I'm more concerned about what the interest rate rises are going to do to those mortgage holders who are right on the edge, who have gambled all to make it on the housing ladder but can't withstand even 1% raise in interest rates.

These people should be terrified about the BOE governor saying that they will "bring inflation back down to 2%". Because if the world inflation hits 5% and stays there, the UK is not going to run 2% inflation now matter how high the BOE puts rates.

I can see 5% interest rates within 3 years. Anyone who mortgaged when interest rates were under 0.5% is not going to survive that. Government help or not.

[Workingman]

That is basically what Merv King (ex BoE boss) is saying. He is blaming nearly all central banks, excessive QE, and loose economic policies from the profession. He says that record low interest rates went on too long and that rates will have to rise immediately.

I also see that Nationwide is reporting that house prices are set to fall in the near term - the market has staled. Too many people over extended themselves and now the recent price rises, about 9%, are pushing them over the edge.