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Economy watch

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Copper Dragon
Bwfc1958
Bread2.0
bwfc71
karlypants
Norpig
Reebok Trotter
Chairmanda
xmiles
Sluffy
Bollotom2014
boltonbonce
whatsgoingon
Natasha Whittam
okocha
scottjames30
NickFazer
gloswhite
wanderlust
23 posters

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151Economy watch - Page 9 Empty Re: Economy watch Wed Aug 17 2016, 18:00

xmiles

xmiles
Jay Jay Okocha
Jay Jay Okocha

152Economy watch - Page 9 Empty Re: Economy watch Wed Aug 17 2016, 18:50

wanderlust

wanderlust
Nat Lofthouse
Nat Lofthouse

F***! I'm going to Portugal in September so I pray the pound recovers a bit before then. Mind you, airport bureaux can be a rip off at the best of times.

153Economy watch - Page 9 Empty Re: Economy watch Wed Aug 17 2016, 18:52

Norpig

Norpig
Nat Lofthouse
Nat Lofthouse

i didn't get much better from the post office, 1.12 or 1.13  Evil or Very Mad

154Economy watch - Page 9 Empty Re: Economy watch Wed Aug 17 2016, 19:12

Guest


Guest

My mum is going to spain in a few weeks and got hers a few weeks ago.  She got 1.3

155Economy watch - Page 9 Empty Re: Economy watch Thu Aug 18 2016, 09:20

wanderlust

wanderlust
Nat Lofthouse
Nat Lofthouse

y2johnny wrote:My mum is going to spain in a few weeks and got hers a few weeks ago.  She got 1.3
That's cheered me up no end y2j...

156Economy watch - Page 9 Empty Re: Economy watch Thu Aug 18 2016, 11:47

Guest


Guest

wanderlust wrote:
y2johnny wrote:My mum is going to spain in a few weeks and got hers a few weeks ago.  She got 1.3
That's cheered me up no end y2j...
Sorry lusty.  When i brexit happened i told her to wait a week and then do it because i knew it would go down again.  

For once she listened Smile

157Economy watch - Page 9 Empty Re: Economy watch Thu Aug 18 2016, 12:34

wanderlust

wanderlust
Nat Lofthouse
Nat Lofthouse

Natasha Whittam wrote:
Petrol down 2p again today in Preston. 
Petrol discounters like supermarkets seem to be holding at about £1.07 a litre whilst the rest appear to be at the £1.11 to £1.13 range but apparently prices have started to rise which is driving up inflation according to the BBC. The reduction in the BoE base interest rate was supposed to prevent inflation from rising but the BBC are saying it's up to 1.9% from 1.6%.
FTSE is holding up though.
Can't say I've noticed petrol prices rising more than a couple of pence in Norfolk or in Lancashire and I wouldn't be expecting price hikes for ages yet so has it started to go up anywhere else yet or have the BBC got it wrong?

158Economy watch - Page 9 Empty Re: Economy watch Thu Aug 18 2016, 21:31

gloswhite

gloswhite
Guðni Bergsson
Guðni Bergsson

I never go to those Bureax de Change.

Until recently, I used a Caxton FX Euro card, but my daughter put me on to Revolut, who give an excellent exchange rate, (relatively).
As I speak, Caxton are exchanging the Euro at 1.1334/£, and Revolut at 1.1592/£

Unfortunately, I was about to exchange £2000, to pay for my holiday, etc, and it went down to 1.15, ( I delayed it when I could have exchanged at 1.19 Crying or Very sad )

159Economy watch - Page 9 Empty Re: Economy watch Fri Aug 19 2016, 00:04

wanderlust

wanderlust
Nat Lofthouse
Nat Lofthouse

Can't decide whether to dive in @115 or hang on for a while. Has to bottom out soon...

160Economy watch - Page 9 Empty Re: Economy watch Fri Aug 19 2016, 08:51

gloswhite

gloswhite
Guðni Bergsson
Guðni Bergsson

Those were my exact thoughts Wander, and I lost out.

I have a feeling it will stay on, or near, the current levels, as the background info seems to be saying that though were not sinking any lower, at the moment, neither are we blazing trails.

161Economy watch - Page 9 Empty Re: Economy watch Fri Aug 19 2016, 13:39

wanderlust

wanderlust
Nat Lofthouse
Nat Lofthouse

gloswhite wrote:Those were my exact thoughts Wander, and I lost out.

I have a feeling it will stay on, or near, the current levels, as the background info seems to be saying that though were not sinking any lower, at the moment, neither are we blazing trails.

It's a worry if it stays at this level and even more worrying if we stay 13% down on the pre-Brexit rate against the dollar as the price of oil has just risen to above the pre-Brexit price hitting $51 a barrel which means that sooner or later it's going to get expensive.

It's times like this that I wish Britain still owned the oil and gas underneath our waters.

162Economy watch - Page 9 Empty Re: Economy watch Fri Aug 19 2016, 13:43

gloswhite

gloswhite
Guðni Bergsson
Guðni Bergsson

I don't think we own any of our assets any more, whether its oil, or industry, or brains for that matter.  We're still making money, but for whom ? Crying or Very sad

163Economy watch - Page 9 Empty Re: Economy watch Fri Aug 19 2016, 14:13

wanderlust

wanderlust
Nat Lofthouse
Nat Lofthouse

Disappointing figures re July's budget surplus published today. If you are unfamiliar with what it means, in essence it's to do with austerity. 
As I understand it, the Chancellor sets a budget for public spending (investment in infrastructure, schools, hospitals, services etc) and collects income from e.g. corporate taxation. If the public sector doesn't spend all the money they borrow in a particular month or if the income exceeds the expenditure, the money "saved" is used to pay off the public sector debt which after years of Tory rule now stands at an unprecedented £1604 billion (£1.6 trillion)
In July, the budget surplus was £200 million less than anticipated for the month - not a lot in the scheme of things but it all helps.

Osborne had been borrowing like crazy to give the impression that the Tories are doing a good job - a lesson he took out of Thatcher's book - but realised that he couldn't do that forever, so he introduced a plan to cut back on the borrowing and start paying a bit back to minimise interest payments. That plan was reflected in his budget targets, however it is thought that when Hammond announces his Autumn budget, Osborne's repayment plans will be cut back or even stopped altogether.

The downside of saving money to pay off our debts is that the money doesn't get spent on public services (which is very unpopular) so it looks like Hammond will keep public expenditure going at the expense of rising debt in order to cement the popularity of the new Government.

So if Britain is going to recover we need to be successful in trade and attract foreign investors without investing too heavily in industry subsidies so it's going to be a long and tricky road ahead.
Hammond appears to be going for "austerity lite" and hoping our performance is good enough to try to keep everybody sweet.

Final bit of news today is that more people are setting up their own businesses which has helped the unemployment figures but interestingly the "real earnings" of SME owners has dropped by 26% in the last ten years so more jobs with lower wages.

164Economy watch - Page 9 Empty Re: Economy watch Fri Aug 19 2016, 15:42

gloswhite

gloswhite
Guðni Bergsson
Guðni Bergsson

Perfect Wander. The only thing missing are the PowerPoint slides Very Happy

165Economy watch - Page 9 Empty Re: Economy watch Fri Aug 19 2016, 16:56

wanderlust

wanderlust
Nat Lofthouse
Nat Lofthouse

gloswhite wrote:Perfect Wander. The only thing missing are the PowerPoint slides Very Happy
I have them here if you'd like to PM me Glos Smile
If the projector's not working don't worry - I'm highly experienced at presenting with just the aid of sock puppets.

Seriously, it's complicated and there are some enormous numbers involved so I've done my best to explain what appears to be happening.

166Economy watch - Page 9 Empty Re: Economy watch Mon Aug 22 2016, 12:38

wanderlust

wanderlust
Nat Lofthouse
Nat Lofthouse

Duncan Donuts urges May to get on with the EU negotiations asap and not to accept a "EU lite" agreement.

May says it won't happen this year and that she can't say what we'll have to accept anyhoo.

Article here.

167Economy watch - Page 9 Empty Re: Economy watch Fri Aug 26 2016, 12:35

wanderlust

wanderlust
Nat Lofthouse
Nat Lofthouse

There will probably be a public outcry if these plans for NHS cutbacks come to fruition...

Politically I think that May would rather sacrifice some other part of the national budget if possible but with all other departments effectively losing whatever % it is that our economy has shrunk by recently, I don't know where she'd find the savings. 

We need some serious austerity to live within our means but there's no way the Tories would admit to it so I imagine that Hammond will go for the Thatcher option i.e. borrow even more money from the World Bank to plaster over the cracks and make out everything is fine. And let the next government/next generation worry about making the repayments.

168Economy watch - Page 9 Empty Re: Economy watch Fri Aug 26 2016, 13:23

xmiles

xmiles
Jay Jay Okocha
Jay Jay Okocha

Personally I think there is increasing evidence that the Tories intend to break the NHS so that it can be "fixed" by privatising large chunks of it to their off-shore friends and backers. It's no surprise that news of these cuts only arrives just before the August Bank holiday.

Of course Brexit just aggravates the situation but good luck trying to get a Brexit fan to admit that.

169Economy watch - Page 9 Empty Re: Economy watch Fri Aug 26 2016, 13:33

Bread2.0

Bread2.0
Andy Walker
Andy Walker

Agreed.

Hence my rant in that other thread about their pointless "customer survey" texts, sent post-A&E treatment.

Did anybody else hear the phone in on 5 Live this morning about the difficulties faced by homeless people when trying to access primary heath care?

There were people actually texting in saying that homeless people shouldn't be allowed to receive any treatment on the NHS because of their "life-style choices" and the fact that they didn't pay NI stamp.

I am genuinely fearful of what we are turning into as a society.

170Economy watch - Page 9 Empty Re: Economy watch Fri Aug 26 2016, 13:50

Norpig

Norpig
Nat Lofthouse
Nat Lofthouse

xmiles wrote:Personally I think there is increasing evidence that the Tories intend to break the NHS so that it can be "fixed" by privatising large chunks of it to their off-shore friends and backers. It's no surprise that news of these cuts only arrives just before the August Bank holiday.

Of course Brexit just aggravates the situation but good luck trying to get a Brexit fan to admit that.

i agree and as an NHS worker myself it leaves me feeling uneasy.

They may get away with privatising some parts of the NHS but we as a nation i would hope we would never allow any Government to make us pay for basic treatment, it would be political suicide surely?

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