UK Economy Bounces Back

Urmstongran

Thanks Cunco for a reasoned post. Which won’t of course be welcomed by some on here. Doomsters and glum buckets who will jump in to denigrate the UK. The same punters who cried that Sterling was going to tank after the referendum result. WRONG‼️ The pound is exchanging at €1.19 today. Long may it continue.

That's a good rate of exchange, a lot better than the past few years. Good news as all our families are booked to get over to France this summer.

Thanks Cunco for some positive news about the economy.
Don't understand Vegansrock comment about enrgy company dividends. Haven't a lot of UK energy suppliers gone bust with recent price hikes, and those remaining taking a massive hit. The only big profits for overseas suppliers ramping prices up taking advantage of supply shortages.

Just look at Shell and BP profits - up billions.

HolySox

Thanks Cunco for some positive news about the economy.
Don't understand Vegansrock comment about enrgy company dividends. Haven't a lot of UK energy suppliers gone bust with recent price hikes, and those remaining taking a massive hit. The only big profits for overseas suppliers ramping prices up taking advantage of supply shortages.

But there isn't any positive news about the economy! It's not even positive enough to be called "bread and circuses".

Josieann

Urmstongran

Thanks Cunco for a reasoned post. Which won’t of course be welcomed by some on here. Doomsters and glum buckets who will jump in to denigrate the UK. The same punters who cried that Sterling was going to tank after the referendum result. WRONG‼️ The pound is exchanging at €1.19 today. Long may it continue.

That's a good rate of exchange, a lot better than the past few years. Good news as all our families are booked to get over to France this summer.

How about thinking about the bigger picture rather than yourself?

Ooo dear!

growstuff if we do not think of and/or take care of ourselves who do you suppose is going to do so?

Gwyneth

I second that Allsorts. I always wonder why those who can never see any positives to living in the UK want to stay here as it’s so awful.

I was born here and I'm a British citizen. How dare you suggest I be chased out! Where would I go anyway?

PS. I'd like to live in a country where people are told the truth, not believe in fairies and unicorns.

GrannyGravy13

growstuff if we do not think of and/or take care of ourselves who do you suppose is going to do so?

How selfish!

This thread won’t last long. There’s not enough bad news to feast on. The UK doing well? ?

But it's what I expected.

www.opendemocracy.net/en/opendemocracyuk/uk-big-six-energy-firms-one-billion-pounds-profit-cost-of-living-increase/

yes some in the U.K. are doing well the big six energy companies made over £1bn profits.
It wasn’t that long ago we got almost €1.50 to the £.

This is why a windfall tax has been called for- but oh no, got to protect the shareholders.

growstuff I will not rise to your insults…

Urmstongran

This thread won’t last long. There’s not enough bad news to feast on. The UK doing well? ?

There does seem to be a general annoyance directed towards any positive news regarding the U.K.

I do wonder if some folks on GN and elsewhere are enjoying the pessimism and are just waiting for the next…

Urmstongran, true, there's not enough to moan about for some. I'm just very grateful that things don't look too bad - especially considering what we've been through.

vegansrock

This is why a windfall tax has been called for- but oh no, got to protect the shareholders.

Not just shareholders, millions if not billions of pension funds both private and company are invested in utilities.

Not sure if making pensioners suffer twice is a good thing?

It wasn’t that long ago we got almost €1.50 to the £

Evidence please.
Last time it was anything at all that high was the commercial exchange rate (higher than the tourist rate) when we bought our apartment in Malaga in 2004.

Never reached such dizzying heights since.
I watch them avidly as we pop over frequently. First big dip was the global recession in 2008 and more recently the pandemic. Brexit never made much difference. Strange that.

Gwyneth We all separate out politics from the rest of our lives, surely? There are many things I love about the UK, and about Wales in particular.
The current UK government isn’t one of the things I love, in fact quite the opposite. It’s good that the economy is recovering to some degree, but only good in part, as of course it’s a relative rather than absolute recovery, and not everybody will benefit. Nothing is simple.

Well said Hetty58 and GG13 ?

Well said.

Turn your face to the sun and the shadows will fall behind you.

I didn’t suggest that at all growstuff just curious as to why if you or anyone else always have such a negative view of the UK you are happy to live here. Yes there are negatives but lots of positives too. But then I suppose there wouldn’t be anything to continually moan about.

Here’s the evidence. It was 2015 Urmstongran. I just copied this off the web as I can remember going to Spain and being happy with the rate.
‘This is the British Pound (GBP) to Euro (EUR) exchange rate history data page for the year of 2015, covering 365 days of GBP EUR historical data. Best exchange rate: 1.4409 EUR on 18 Jul 2015. Average exchange rate in 2015: 1.3777 EUR. Worst exchange rate: 1.2747 EUR on 06 Jan 2015.’

Well, well. Apologies Casdon my memory obviously isn’t as good as I thought!
Weird that best and worst exchange rates were both in 2015.
Perhaps I went over to Malaga and missed the ‘good’ months that year!

Doesn't the exchange rate fluctuate throughout the year? I always saw it rise during the summer months, which was good for all British tourists (not just me!) If we are €1.19 today in February, then that bodes well for several months' time.