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Politics Today

angelic upstart

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No, he wasn't. Just a person that realised you can't get things done unless the vast majority of your working team are on board.

We've been seeing the effects of disparate goals since Friday. Were I PM, I'd consider bring interest rate decisions back in house sooner rather than later. The only argument against doing so would be to save face, but then the markets may soon be forcing hands on that front too.
Wouldn't make sense for the govt to up interest rates at a time they're borrowing a lot more than the usual borrowings. Which would also beg the question of why would they lower taxes in the hope that business will somehow pick up. Unless of course the money is all from abroad and will simply anger the electorate.
 

angelic upstart

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Have you ever tried to work with a team of people that try their absolute utmost to undermine practically everything you are doing? I have and I didn't last long in the position.

Dominic Cummings knew the solution wrt The Blob, but then he had a falling out with Carrie and the rest is history.
Why would the team be so against them?
 

Mr Jinx

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Do you actually mean rebounding, or do you mean the usual cat bounce once something has plummeted in the markets for the spivs to make a few quid. The decline in our pound is clear to see. However you put it, it isn't good news

20 years ago it was over 1.50 to the pound
15 years ago it was over 2 to the pound
10 years ago it was over 1.50 to the pound
5 years ago it was over 1.30 to the pound

But the dollar is strong I hear you cry, so what about the less strong Euro ?

20 years ago it was over 1.50 to the pound
15 years ago it was over 1.40 to the pound
10 years ago it was over 1.20 to the pound
5 years ago it was over 1.15 to the pound
Today it's just below that figure.
FYI - GBP to USD was nearly 1.4 under a year ago. But I did argue at that time that it was perhaps too high. By the way, it's now at 1.09 - so even up on the opening, so reports of the death of the pound are somewhat exaggerated.

Time will tell to see if the last 2 hours are a dead cat bounce. I think we'll see wild fluctuations for a few days at least.

I've even been hearing that some experts are saying that last Friday's mini-budget didn't go anywhere near far enough. What do we want? Tax cuts. When do we want them? Like yesterday!
 
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angelic upstart

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FYI - GBP to USD was nearly 1.4 under a year ago. But I did argue at that time that it was perhaps too high. By the way, it's now at 1.09 - so even up on the opening, so reports of the death of the pound are somewhat exaggerated.

Time will tell to see if the last 2 hours are a dead cat bounce. I think we'll see wild fluctuations for a few days at least.

I've even been hearing that some experts are saying that last Friday's mini-budget didn't go anywhere near far enough. What do we want? Tax cuts. When do we want them? Like yesterday!
Why would 1.40 be too high? The all time average is 1.57/58 depending on the metric.

It'll be a few weeks of cat bounce, the currency boys love dragging it out.

The difficulty with tax cuts now is the only taxes we have left to cut, which don't blatantly show disregard for any public services whatsoever are the stealth ones. Would be nice if the govt started refusing to dish out money for crap and more so crap services. Local govt could do this too.
 

Mr Jinx

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Why would 1.40 be too high? The all time average is 1.57/58 depending on the metric.
Comparing to fx rates of yesteryear is a fool's errand.

When making business decisions, companies don't go "I'm not buying those from x in the UK any more as they're twice as expensive as they were 20 years ago", whereas you're much more likely to hear "I'm not buying those from x in the UK any more as they're up 15% since the summer". Or what is more likely to be heard this week - "wow, those widgets that company makes in the UK just got 20% cheaper, fill your boots".

One business that will suffer are the Theme Parks in Florida. What was eye wateringly expensive in the summer (so friends were telling me) has just become something for those with more money than sense. If there's anyone here going there for the half term break in October, you'd better start doing the math.
 
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Spanks

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Comparing to fx rates of yesteryear is a fool's errand.

When making business decisions, companies don't go "I'm not buying those from x in the UK any more as they're twice as expensive as they were 20 years ago", whereas you're much more likely to hear "I'm not buying those from x in the UK any more as they're up 15% since the summer". Or what is more likely to be heard this week - "wow, those widgets that company makes in the UK just got 20% cheaper, fill your boots".

One business that will suffer are the Theme Parks in Florida. What was eye wateringly expensive in the summer (so friends were telling me) has just become something for those with more money than sense. If there's anyone here going there for the half term break in October, you'd better start doing the math.
It may have escaped your notice Jinxy, but if you're relying on exporting cheaper goods, you really ought not to have been raising trade barriers to your biggest and closest trading partners.
 

angelic upstart

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Comparing to fx rates of yesteryear is a fool's errand.

When making business decisions, companies don't go "I'm not buying those from x in the UK any more as they're twice as expensive as they were 20 years ago", whereas you're much more likely to hear "I'm not buying those from x in the UK any more as they're up 15% since the summer". Or what is more likely to be heard this week - "wow, those widgets that company makes in the UK just got 20% cheaper, fill your boots".

One business that will suffer are the Theme Parks in Florida. What was eye wateringly expensive in the summer (so friends were telling me) has just become something for those with more money than sense. If there's anyone here going there for the half term break in October, you'd better start doing the math.
I totally get that, but we import more than we export. So the people of the UK pay more and Johnny Foreigner gets our stuff cheap. We need to start manufacturing on a grand scale if we want to turn that around.
 

Mr Jinx

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Gary Neville at the Labour conference today has brandished the coming tax cuts immoral.

This comes not too long after he complained that Boris Johnson's government had hiked "taxes to post WWII highs".

Do we thing Mr Neville is somewhat conflicted or just like using excuses to bash the Tories?
 

Alistair20000

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Gary Neville at the Labour conference today has brandished the coming tax cuts immoral.

This comes not too long after he complained that Boris Johnson's government had hiked "taxes to post WWII highs".

Do we thing Mr Neville is somewhat conflicted or just like using excuses to bash the Tories?
Mr Neville might also like to come clean about his own “tax planning” arrangements in the past.
 

Grecian2K

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Oh dear. Not looking good for Dizzi & Kwazi the Klown already.
Liz Truss: Tory MPs sending no-confidence letters over fears she will ‘crash the economy’, says ex-minister (msn.com)
Phone the Guinness Book of Records anyone for the shortest tenure of a British PM?
If Labour continue to extend their poll lead I suspect her only hope of avoiding swift defenestration from all but the 50 toadies who supported her in the first round will be to issue the threat of a snap GE to whip the increasingly tremulous Red & Blue wall back benchers into shape. Fear that they themselves might lose their cushy little numbers might be the only way to focus the Tory mind.

In the meantime - more popcorn please!
 
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