The Uk economy

David49

Much the same story with the Euro, after the Christmas/new year break, it’s the speculators testing the market, there doesn’t need to be any logic.
Their only aim is to make money short selling, we will see what happens Monday, Starmers feud with Musk does not help one bit.

It takes two to tango and so far I haven't noticed Starmer taking to the dance floor.

We have to face up to the disaster of brexit. Lots of brexiteers said they didn't mind the economy going downhill as long as we had sovereignty back. So, suck it up folks.

keepingquiet

We have to face up to the disaster of brexit. Lots of brexiteers said they didn't mind the economy going downhill as long as we had sovereignty back. So, suck it up folks.

Are you saying this latest trend is as a result of Brexit which was 5 years ago?

keepingquiet

We have to face up to the disaster of brexit. Lots of brexiteers said they didn't mind the economy going downhill as long as we had sovereignty back. So, suck it up folks.

It’s nothing to do with Brexit ….are you on the wrong thread?

MaizieD

What does your son think is 'not good', Sago?

The confidence in the UK economy for business and consumer is low.

Rachel from Accounts is off to China, presumably to really avoid tricky questions about the declining state of the economy.
This is the same tactic that Boris used when he was faced with demands for an explanation, re awkward situations of his own making. Going junketing off to far away places, on the premise off drumming up business and hoping that the domestic problem will be gone (or forgotten) by the time they get back........

keepingquiet

We have to face up to the disaster of brexit. Lots of brexiteers said they didn't mind the economy going downhill as long as we had sovereignty back. So, suck it up folks.

Still the elephant in the room

Probably the biggest disappointment is the interest rates not coming down, it looks that they will stay high at best, might even rise again. Increasing growth will produce extra revenue in the medium and long term but it must now be clear it’s going to be tough in the short term.

Allira

keepingquiet

We have to face up to the disaster of brexit. Lots of brexiteers said they didn't mind the economy going downhill as long as we had sovereignty back. So, suck it up folks.

Are you saying this latest trend is as a result of Brexit which was 5 years ago?

So why haven't things got better as promised?

The vote was actually almost 7 years ago, but we didn't officially leave until almost five years ago that's correct.

Are you saying brexit had no impact, either positively or negatively?

In which case, we should have stayed in?

^ Increasing growth will produce extra revenue in the medium and long term but it must now be clear it’s going to be tough in the short term.^

Aah, a believer in the magic growth tree.

How is there going to be any chance of growth in the economy when there is less and less money available for people to spend?

You’re right in one respect, though. The Bank of England is doing even more to destroy our economy than is Reeves by keeping interest rates high.

Oreo

keepingquiet

We have to face up to the disaster of brexit. Lots of brexiteers said they didn't mind the economy going downhill as long as we had sovereignty back. So, suck it up folks.

It’s nothing to do with Brexit ….are you on the wrong thread?

No, not the wrong thread. Of course this has something to do with brexit, what was the point of voting for it if it was to have zero impact?

We were told about the economic impact but everyone shu their eyes and hoped for the best.

The biggest economic disaster this country has ever witnessed and people are still in denial.

MayBee70

keepingquiet

We have to face up to the disaster of brexit. Lots of brexiteers said they didn't mind the economy going downhill as long as we had sovereignty back. So, suck it up folks.

Still the elephant in the room

Yep, we're all ignoring it as if it never happened. What a complete shambles.

'Economists and analysts at Cambridge Econometrics found that, by 2035, the UK is anticipated to have three million fewer jobs, 32% lower investment, 5% lower exports and 16% lower imports, than it would have had been. The report states that the UK will be £311bn worse off by 2035 due to leaving EU.'

This is why we are up the economic creek without a paddle. We're all in for a bumpy ride folks!

Couldn’t we rejoin the customs union? It was mentioned on TRIP’s but I don’t understand economics at all. I’m sure that vote leave said we’d be staying in the customs union?

Whitewavemark2

A slow down in the housing market might mean a freeze on price rises or even a drop.

That would be good news for my grandson!

And my granddaughter!

I think you’re wrong keepingquiet on blaming our economic woes entirely on Brexit .
The Covid pandemic took its toll on the economy, as did the disastrous short reign of Liz Truss and now Reeves’ Budget is making it nose dive.

So Cambridge econometrics don’t know what they’re talking about? And what happened to all the amazing trade deals we were going to have straight away? The farmers have been shafted by trade deals we’ve done with NZ and Australia I believe (?).

The biggest economic disaster this country has ever witnessed and people are still in denial.

I suspect people are in denial because they haven’t had a small business built on trading within the EU which failed because of increased costs. Or noticed successful businesses which have moved their HQs to the EU, with resultant job losses, in order to carry on trading. Or the costs of sending presents to friends /relatives in the EU because of increased customs charges. Or the fact that the fishing industry is struggling. And farmers because of the loss of EU subsidies they depended on to make a living. That’s just a fraction of it…

Of course, there was the expense of building new facilities to deal with increased checks and paperwork requirements at our ports. The diversion of civil servants from their proper roles in order to prepare scenarios and strategies for various shades of Brexit which meant we were completely unprepared for the covid pandemic. Trade deals which give more advantage to the other country than to the UK..

It’s all drip, drip drip, adversely affecting our economy but the (erroneous, I must admit) boiled frog analogy comes to mind.

Of course we should never have left the EU. It was one of the most ridiculous decision ever made.

I am hoping that Starmer is quietly working behind the scenes to begin the process of returning.

It is the only thing making any sense at the moment, particularly with the dual threat of Trump and Putin let alone Xi.

MayBee70

So Cambridge econometrics don’t know what they’re talking about? And what happened to all the amazing trade deals we were going to have straight away? The farmers have been shafted by trade deals we’ve done with NZ and Australia I believe (?).

Economic analysts can be wrong! Predicting ten or sixteen or whatever it was years in advance isn’t an exact science.Stuff happens!

Wyllow3

His feud? Like, what did Starmer do to create it?

I may be wrong but Trump and Musk have it in for Labour because of remarks made by Starmer, Lammy & Co. Rightly or wrongly with their comments, they really need to engage their brains before speaking at times. There is also the little matter of Labour supporters going to the US and trying to woo voters towards Harris which Trump will not forget.

You simply now have to start looking at things in the round, the latest being an awful budget to get the full picture.

Oreo

You simply now have to start looking at things in the round, the latest being an awful budget to get the full picture.

OK. If we’re ‘looking in the round’, what do you think of the current actions of the Bank of England ?

TerriBull

Reeves is off to China to presumably negotiate us taking even more of their rubbish goods in exchange for them taking a fraction of ours, which they can then copy before selling them back to us Meanwhile back here, its all going swimmingly, pounds falling in value against the dollar and the euro, businesses are cutting back on hiring and will have to hike their prices, once prices rise there will be demands for pay rises to keep pace, inflation will be up, there's still a dire shortage of housing, that most people can't afford, gas supplies are concerningly low. Other than that it's all good and we can sleep safely now the adults are in the room and determined to grow the economy.

I doubt Reeves wants to export goods to China, more likely financial services (a lot of bankers are with her) which are more profitable and hence generate more tax.

Sago

MaizieD

What does your son think is 'not good', Sago?

The confidence in the UK economy for business and consumer is low.

I said as soon as the budget came out that people will be reluctant to hire people.

I do think any Labour Party always seem to care more about the Public sector and less about the private one.

I assume it is the private sector that has cut back on hiring?