It's austerity Christmas: buy now, pay considerably more later

Adverts for short-term loans are everywhere. These companies know that people are more cash-strapped

Adverts for short-term loans are everywhere. These companies know that people are more cash-strapped than ever.

Austerity Christmas it is, then. Is it worth getting the giant inflatable Homer Simpson in a Santa suit out of the loft? Can you afford the illuminated parade of sparkly reindeer? Or, more importantly, can you afford the bills in January? And what can you do if you can't?

Those jolly companies who offer short-term loans -- with the 1000 per cent and 2000 per cent and sometimes nearly 3000 per cent APR figures not nearly as prominent as the smiling faces of the families who are HAPPY because they have CASH -- are filling up the advert breaks.

They're not dumb. Parasitic, perhaps; feasting on the misery of others, quite possibly; evil, well I wouldn't go that far -- but not dumb. They know that this year, more than many others in recent times, people are going to be feeling less festive about opening their wallets than ever before -- and they're offering the "buy now, pay much more later" solution to tide folk over.

Britain's been living on tick for a while now. With banks cheerfully whacking overdraft penalty payments onto the accounts of people who've overspent by a couple of quid, the never-never is getting more and more expensive.

But what do you do? Those of us who are fortunate enough to have paid employment are just clinging on and hoping that we're going to ride out the storm. Having been plunged into the void of joblessness earlier this year, I'm here to tell you that there are few better feelings than going back to work and feeling like you have a purpose in life again. Is it enough money to make everything all right again, though? Well, that's a different thing altogether.

This is the time of year when we're bombarded with aspirational messages that tap into our sense of entitlement. We want our lives to be like those glamorous people in adverts, swaggering from one crystal-embellished cocktail party to another; we think our children should be ignoring the mountain of presents at the foot of the John Lewis kid's bed in order to thank us for being so great, and buying them so many things.

Our leaders tell us that debt is bad, mmkay. For months, we've been lectured about how the economy is a bit like a credit card, which has been maxed out -- because we plebs are essentially thick, you see, we can't be trusted to handle concepts any more complex than the idea of a credit card -- and how everything now needs to be paid back. But how many of us are making the kind of swingeing household cuts that will see us pay everything back in a couple of years and get us back on track?

We don't mind so much if it's those nasty grasping public sector folk who are being bashed around the head and told they've got to cough up more pensions, because they were getting too much in the first place; but when it's us and our responsibility, we're not going to pay it back unless the red-topped letters start appearing.

There's a strange chasm, then, between what we're told to do by our leaders, on the one hand; and what the tempting short-term loan companies are (entirely legally) telling us on the other. Do we scrimp and save, or do we splurge now and regret it later? It could be a big, big hangover in the new year.

Patrolling the murkier waters of the mainstream media

Ukip's Nigel Farage and Paul Nuttall. Photo: Getty
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Is the general election 2017 the end of Ukip?

Ukip led the way to Brexit, but now the party is on less than 10 per cent in the polls. 

Ukip could be finished. Ukip has only ever had two MPs, but it held an outside influence on politics: without it, we’d probably never have had the EU referendum. But Brexit has turned Ukip into a single-issue party without an issue. Ukip’s sole remaining MP, Douglas Carswell, left the party in March 2017, and told Sky News’ Adam Boulton that there was “no point” to the party anymore. 

Not everyone in Ukip has given up, though: Nigel Farage told Peston on Sunday that Ukip “will survive”, and current leader Paul Nuttall will be contesting a seat this year. But Ukip is standing in fewer constituencies than last time thanks to a shortage of both money and people. Who benefits if Ukip is finished? It’s likely to be the Tories. 

Is Ukip finished? 

What are Ukip's poll ratings?

Ukip’s poll ratings peaked in June 2016 at 16 per cent. Since the leave campaign’s success, that has steadily declined so that Ukip is going into the 2017 general election on 4 per cent, according to the latest polls. If the polls can be trusted, that’s a serious collapse.

Can Ukip get anymore MPs?

In the 2015 general election Ukip contested nearly every seat and got 13 per cent of the vote, making it the third biggest party (although is only returned one MP). Now Ukip is reportedly struggling to find candidates and could stand in as few as 100 seats. Ukip leader Paul Nuttall will stand in Boston and Skegness, but both ex-leader Nigel Farage and donor Arron Banks have ruled themselves out of running this time.

How many members does Ukip have?

Ukip’s membership declined from 45,994 at the 2015 general election to 39,000 in 2016. That’s a worrying sign for any political party, which relies on grassroots memberships to put in the campaigning legwork.

What does Ukip's decline mean for Labour and the Conservatives? 

The rise of Ukip took votes from both the Conservatives and Labour, with a nationalist message that appealed to disaffected voters from both right and left. But the decline of Ukip only seems to be helping the Conservatives. Stephen Bush has written about how in Wales voting Ukip seems to have been a gateway drug for traditional Labour voters who are now backing the mainstream right; so the voters Ukip took from the Conservatives are reverting to the Conservatives, and the ones they took from Labour are transferring to the Conservatives too.

Ukip might be finished as an electoral force, but its influence on the rest of British politics will be felt for many years yet. 

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