Brexit promises

[Protheroe]

 it is because Brexit has weakened us on the global trade front and we are not seen as the good bet for future value.

The latter is correct, the former is just juvenile posturing which fails to take into account any of the other macro and micro factors at work. Brexit "weakening us on the global trade front" is a factor, but by no means a large one.

[baggy1]

Self harming by by adding tariffs and making it more difficult to trade with 50% of our market isn’t large in your view then.

[Protheroe]

It's a factor, and not a particularly significant one in the weakness of the pound - which I believe was the point you were trying to make. The Euro has fallen below parity with the $ this week because of similar issues in dollar denominated commodities, massive and growing debt, sclerotic growth, poor productivity and less similar issues like the probable election of Nazis to form a government in the EU's third biggest economy.

I took in Jon Ashworth on Politics Live today which was comedy of the highest order arguing pretty much for the economic policies of Erdogan. That, and the likely announcements from Kwarteng tomorrow terrify me tbh. Right ideas, wholly the wrong time.

[Derek Hardballs]

It's a factor, and not a particularly significant one in the weakness of the pound - which I believe was the point you were trying to make. The Euro has fallen below parity with the $ this week because of similar issues in dollar denominated commodities, massive and growing debt, sclerotic growth, poor productivity and less similar issues like the probable election of Nazis to form a government in the EU's third biggest economy.

I took in Jon Ashworth on Politics Live today which was comedy of the highest order arguing pretty much for the economic policies of Erdogan. That, and the likely announcements from Kwarteng tomorrow terrify me tbh. Right ideas, wholly the wrong time.

Arf Trickle Down economics are the ‘right idea’ ffs

[Protheroe]

You can now add the BoE's too little too late approach to monetary tightening to your list of reasons why Sterling will remain weak.

A more useless bunch of counter-productive Tossers than the Monetary Policy Committee you could not wish to meet.

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Arf Trickle Down economics are the ‘right idea’ ffs

Most of what Kwarteng will announce will (probably) just make the impending borrowing crisis worse.

Scrapping Stamp Duty (please God), not increasing NI,  scrapping the cap on Bankers' bonuses and not increasing Corporation Tax are all great policies for pre-Covid post Referendum Britain. Unfortunately Covid happened, then the energy crisis. If you're going to chuck unfunded bungs indiscriminately to individuals and businesses for both then you cannot at the same time expect to lower taxation without dire consequences for borrowing.

Me, the IFS & IEA (hardly the most likely bedfellows) all agree on that final point.

If your analysis of economics extends only to 1980s slogans rather than the awful reality we actually face then I suspect this thread isn't for you.

[JOK]

Cute

May 2015 USD to GBP 1.53
Sept 2022 USD to GBP 1.14

For the hard of reading amongst you that means in a time when everything has become more expensive to buy, we have self inflicted extra cost on top of that.

Something Covid, Something Ukraine

You believe the collapse in the value of the £ is down to Brexit? Hmm.

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May 2014. USD to Euro 1.363
Aug 2022. USD to Euro. 0.996
 
Something Brexit. Something Tories. Etc.

[Protheroe]

 Something Brexit. Something Tories. Etc.

Quite.

[baggy1]

You pair do realise that Brexit impacted both the UK and the EU don't you.

I swear to God it really is frustrating when you get people that are still trying to justify their original position when it clearly was an almighty fuck up and we got what next to no-one voted for or expected. Brexit was not just shooting ourselves in the foot, it was jumping onto a landmine and took out everyone around us, the biggest act of self damage we have undertaken in my lifetime. And you pair have come up with, "It might have fucked us up, but we took down the EU with us" Fucks sake mon.

[Protheroe]

You pair do realise that Brexit impacted both the UK and the EU don't you.

Yes, but the effect of Brexit on both the Euro & Sterling are dwarfed by much bigger factors. It's rather frustrating for me that you don't seem to able to accept this, but I'm sure I'll get over it. That's what adults do, they get over things. Like referendum losses and multiple election losses for instance.

[baggy1]

You pair do realise that Brexit impacted both the UK and the EU don't you.

Yes, but the effect of Brexit on both the Euro & Sterling are dwarfed by much bigger factors. It's rather frustrating for me that you don't seem to able to accept this, but I'm sure I'll get over it. That's what adults do, they get over things. Like referendum losses and multiple election losses for instance.

Glad we're moving in the right direction and your successes have resulted in the UK being in the right place.