PPI SPENDING
Thousands of people receiving compensation for Payment Protection Insurance (PPI) mis-selling have spent the cash on holidays and cars, according to a survey.
The research suggests that only 12% of those receiving the cash have saved any of it.
It appears that most people have spent it - on consumer goods or travel.
The total paid out so far, £13.3bn, has therefore been a huge economic boost.
Experts have said that is the equivalent of a 1% fillip to UK GDP, making it a more effective "spend" signal than any other government incentive.
Booming car sales in the UK have also been put down to PPI payments.
Banks were forced to compensate customers who bought the insurance policies, but often did not need them.
New Shoes
The survey suggests that the average payout was about £2,810 and that people spent the money quickly.
On average, they took less than three weeks to buy something.
The most popular purchase was a holiday, with 24% of respondents saying they had spent some or all of the cash on travel.
Buying a car was also a popular choice, with 22% saying their windfall was spent on a new or second-hand vehicle.
Others spent the money on household goods and furnishings.
A significant minority - 10% - reported that they spent the money on clothes, with 5% buying new shoes.
WHERE THE MONEY IS GOING.
· 24% Holidays
· 22% New car
· 19% Home appliances
· 17% Bills
· 13% Home furnishings
· 12% Savings
· 10% Clothes
· 8% Gadgets
· 5% Shoes
· 3% Groceries
· .0001% Camel
· Source:The BBC
To get what you are owed visit
www.consumerkings.co.uk
CURRENCY DISUNION.
The Scottish independence currency debate
continues with George Osborne, Ed Balls and Danny Alexander stating
categorically that the UK government will not enter into a currency union with
an independent Scotland.
This has been poo pooeed by the Scottish First
Minister Alex Salmond and his deputy Nicola Sturgeon who both state
categorically that there will be a currency union and they have already printed
pro independence T shirts with “THERE WILL BE A CURRENCY UNION” on them and
accusing George Osborne, Ed Balls and Danny Alexander of calling the T shirts
liars.
Miss Sturgeon said “T shirts always tell
the truth”.
What?, even the ones that she and Alex
Salmond wear when they are out and about and read “I’M WITH STUPID”.
The Scottish SNP Government are reluctant
to reveal if they have a plan B, which they do, but they think that the plan B
which is to have a Scottish currency called the Salmond with 100 Sturgeons to
the Salmond might be seen as just a tad egotistical to the undecided voters.
The President of the European Union Manuel
Barosso also stated categorically that Scotland will find it difficult if not
impossible to join the European Union. This too was poo pooed by Mr Salmond and
Miss Sturgeon who said “What does he know, he’s only the President of the
European Union, and we know that Scotland can join the European Union easily
because a man we met in the pub told us that, and he wasn’t that drunk”
The SNP Governments argument for the ease
with which Scotland will become a part of the European Union is they’ve talked
to the organisers of the Eurovision Song Contest and they’ve told them that
because Lulu was once an entrant this guarantees Scotland entry into the
European Union.
It’s all there in the European Union
admission rules in black and white on page 458 of the agreement. Well it is now
after Alex Salmond took a black ink marker and wrote it into the margins.
The nationalists fanatics who’ll vote yes
despite the consequences of independence actually believe this. But the no
voters think Alex and Nicola are talking poo poo, whereas the undecided are
starting to realise the latter.
