Brexit

KK wrote:Who did they get to do their finances, Tesco?

Garth wrote:

Britain's missing billions: Revised figures reveal UK is £490bn poorer than previously thought

Britain is £490billion poorer than thought and no longer has any reserve of net foreign assets to help protect against any damage to the economy from Brexit.

The revision to the national accounts in the ONS’s so-called Blue Book means that the UK’s net international investment position has collapsed from a surplus of £469bn to a net deficit of £22bn - equivalent to a quarter of GDP.

The revised figures show the country owns far fewer international assets and owes far more to foreign investors than previously thought.

“Half a trillion pounds has gone missing,” said Mark Capleton, the UK rates strategist at Bank of America.

The effective write down in the value of “UK plc” could make it harder to defend sterling and the British debt markets against a run on the pound after Britain leaves the European Union.

Company profits were lower than forecast, and a large amount of supposed assets held by firms were in fact disguised forms of lending to UK households.

The revision is disturbing given that foreign direct investment into Britain has collapsed, plummeting from a net £120bn in the first half of last year to a net outflow of £25bn this year.

The apparent resilience of these flows shortly after the Brexit referendum was an illusion, since the funds had already been committed earlier.

The Bank of New York Mellon, the world’s biggest custodian of assets, said there had been a marked deterioration over recent weeks in purchases of sterling stocks and bonds by ‘real money’ players such as pension funds and sovereign wealth funds.

Simon Derrick, the bank’s currency strategist, said: “The outflows from the UK began in mid-August. The big buyers are disappearing.”

http://www.telegraph.co.uk/business/201 ... bn-poorer/

Denster wrote:Steady Tory hands on the tiller!


You're welcome!

KK wrote:Michael Gove is tipped to be the next Chanceller, so I wouldn't worry about it.

KK wrote:If you have the ability to save by lowering expenses in other areas such as food or entertainment I would certainly do so.

Whatever does actually happen, people aren't prepared for 2019, and that's not just the government.

Ill prepared Brexit and another worldwide recession, as some seem to think is a strong possibility in the not too distant future, would be a lethal concoction.

DML wrote:

KK wrote:Michael Gove is tipped to be the next Chanceller, so I wouldn't worry about it.

I wouldnt trust that man to look after my cats.

I hope this government actually gets the anger it deserves. This country has moved nothing but backwards, and thats WITHOUT the referendum! strawberry floating sick of people defending them when every shred of evidence says they are gooseberry fool, gooseberry fool, gooseberry fool.

Denster wrote:

DML wrote:

KK wrote:Michael Gove is tipped to be the next Chanceller, so I wouldn't worry about it.

I wouldnt trust that man to look after my cats.

I hope this government actually gets the anger it deserves. This country has moved nothing but backwards, and thats WITHOUT the referendum! strawberry floating sick of people defending them when every shred of evidence says they are gooseberry fool, gooseberry fool, gooseberry fool.

Get yourself a sandwich board with that on and walk up and down Whitehall.
Then when the Brexit doomsday comes you can keep saying I told you so.
That self righteous indignation will keep you warm.
If you can’t pay your heating bill.

Denster wrote:You always are. But that’s not your motivation for these type of posts. It’s just your typical anti Tory rant.
You pretty much never miss a chance to trot out puerile rhetoric like that one.

It’s both tiresome and hilarious watching you vent like a toddler.

You dick.

twitter.com/withorpe/status/919649068128890880

twitter.com/JimMFelton/status/919819229880254464