BT Broadband gets worse

My BT Broadband service is getting even worse. I'm now down to 0.1 meg, 87.4 kpbs to be precise. It would be a laugh but for the fact that its making online activity unbearable.

BT Broadband - speed still slow

Despite some pretty heavy complaints my BT Broadband still isn't much use. Today it went down twice before 10:00 am. At one point it was still down after 15 minutes, so I gave up.

This afternoon I ran another speed test. Despite my complaints it's still running at 0.2 meg, 173 kpbs to be precise.

When I complained to the BT Broadband "Customer options" team in Doncaster I was told it was tough as I was contracted to them until April 2008. According to Richard - he refused to give his surname - BT up to 8 meg doesn't they have to deliver 8 meg. And in his opinion 0.2 meg mean't they had delivered their side of the deal. I shall be taken up a complaint with trading standards.

BT Total Broadband

What is the purpose of BT - British Telecom? In April I signed up for BT's new 8 megabyte service. What a farce. The speed of the line is shown above - 0.2 meg.

Stealth tax traps 5 million drivers

A report in the Daily Telegraph reveals that 5 million drivers are increasingly hit be a new stealth tax. The tax is as a result of the UK Government's failure to index mileage allowances paid to people who legitimately use their cars on business purposes. The Inland Revenue allows employees and the self-employed to claim 40p for each mile driven on business. According to the AA (Automobile Association) the true cost of driving now averages 44p per mile, leaving most employees 4p out of pocket. Many employees work for employers - some of them voluntary bodies - where the rate paid is even lower than the Government maximum. Anybody being paid more than the 40p minimum would have the balance taxed as income!!!! The current 40p per mile limit was set in 2002. Since then petrol, insurance and road taxes have all risen faster than the general rate of inflation.

Top Investor Leaves the Dollar

Jim Rogers is a top investor who lives in Asia. He famous for predicting financial trends and is followed by thousands of American investors. Mr. Rogers has declared that the U.S. is now in recession and is dumping his Dollars for Asian currencies such as the Chinese Yuan.

Whether Mr. Rogers is able to forecast currency trends may be in dispute. Nevertheless, the market sentiment is certainly leading to recessionary thinking. Many headlines and the recent weakness in the Dow Jones Index are all pointing in a negative direction.

New Stealth Tax

According to a report in The Daily Telegraph the Chancellor of the Exchequer made a crucial omission in his recent pre-budget report. Sly Alistair Darling forgot to mention that he is raising the threshold limit for 11% national insurance contributions (NIC). From April 2008 the current limit of £34,840 will rise to £40,040. The increase means a rise in contributions of £10 per week.

To read the Telegraph article click on the post title.

Sterling too high

I read on Telegraph.co.uk that Sterling has reached $2.05. How amazing!!! Great value for the UK consumer. But the problem is, it's an unsustainable level. By no stretch of the imagination is Sterling worth anything like $2. The purchasing power parity suggests something more like $1.30 - taxes included.

My advice is to enjoy it while it lasts. The Dollar is weak. The pound isn't strong. And eventually the markets will correct the valuation.

Base rate rises to 5.25%

The Bank of England shocked the financial community by raising the base lending rate to 5.25%. This is the third quarter point rise in 5 months.

It appears that the Bank's Monetary Policy Committee have been spooked by the recent rise in inflation. In my opinion, it is this - the inflation rate - rather than the resultant base rate rise which is the real problem.

Sloppy government finances, public sector productivity and the long term problem of the public sector pensions debt are the real problems.