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Britain fires with both barrels - emergency rate cut and budget boost

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3 minutes ago, Logosone said:

Toyota and BMW also made clear they are leaving the UK if the trade deal is not good.

Threats, UK biggest market for BMW products outside of Germany. Toyota made their money and want to run same as Ford & GM did in the UK and will lose customers.

 

Financial institutions always threaten and cut and run, they have no interest in people.

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6 minutes ago, sandrabbit said:

Threats, UK biggest market for BMW products outside of Germany. Toyota made their money and want to run same as Ford & GM did in the UK and will lose customers.

 

Financial institutions always threaten and cut and run, they have no interest in people.

Nah, the biggest markets for BMW outside of Germany are the USA and China.

 

https://www.statista.com/statistics/267252/key-automobile-markets-of-bmw-group/

 

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9 minutes ago, Logosone said:

Who called for a referendum and took the UK out of the largest single market it was ever in?

I think the largest single market the UK was in the was the world going back just over a 100 years ago.

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1 hour ago, evadgib said:

This Corona lark will be gone by June & 🇬🇧 thankfully will continue as planned.

If it is a lark, then the chancellor is wasting a bunch of cash then...

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Posted (edited)
2 hours ago, Logosone said:

At the latest, I wouldn't be surprised if it's gone by April or May. 

 

But haven't we seen the UK already going on as before? The chancellor today unveiled a budget which increases UK borrowing by 125 billion £. The Brexiters are getting the children of the UK to pay for their policies. Generations of British will pay for this budget. 

 

The Greeks did the same, live on credit, and let the generations after us deal with it.

 

And btw, oil prices will still be low after June. For years. The UK has the second largest oil sector in the EU. But unlike Norway no sovereign wealth fund to cushion the impact for 270,000 employees employed in the oil sector. And what about the 20% of corporation tax the oil sector pays? Ah, I forgot continue as planned, ie let other generations pay for it...

 

Financial logic says borrow when lending rates are low so I don’t see an issue there. And having been through heavy borrowing for re direction of my own country years ago with that debt now gone I don’t see an issue there. The more interesting observation in the case of Britain is whether one thinks, and I do, it is a better financial decision to borrow as she is doing to plot her new direction at her own expense versus the huge yearly financial drain she would be paying for ever in support of the EU hind tit sucklings. I know I would rather invest in the interest of my own for future return on that investment foremost.

Edited by Roadman
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8 hours ago, Kwasaki said:

Yeah agree bloody foreigners. 😁

Rishi Sunak, sounds like a good old British name from the fields of Summerset

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9 hours ago, samran said:

If it is a lark, then the chancellor is wasting a bunch of cash then...

There's another budget in October...

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34 minutes ago, Logosone said:

 

Yes, that was certainly the logic Greece applied. We saw how well that ended. Financial logic says don't borrow too much. We saw with Greece that creditors don't tolerate endless borrowing. Eventually they stop financing countries that live above their means. 

 

Ramping up borrowing for a country like the UK that is already among the most indebted countries in the world is the road to disaster. 

 

Rating agencies have consistently downgraded the UK over the last few years.

 

The EU was not a huge financial drain for the UK, who will have to pay exactly the same figure it paid in EU membership fees  only disguised as tariffs in return for exporting  to the EU, as it still wants to and needs to do. After all the EU "hind tit sucklings" bought 66% of all the fish British fisheries caught and supplied 100% of some food stuffs. After all it was the open border and free passporting rights that allowed the City' to become so attractive for international banks. The UK for all its hatred of the EU massively benefitted from the EU, and its membership was the best investment it ever made.

 

Yes, the UK should have invested in its own future. It should have set up a sovereign wealth fund from its north sea oil windfall, like Norway. It never did. The privatisation windfall of othe 80s? The mobile phone licences windfall? All blown in the wind, for lower taxes to allow successive incompetent UK governments to stay in power. This budget, once again, is not an investment in the UK, it's a freebie handout to UK taxpayers to ensure this government can get re-elected. Like all the previous tax handouts British governments were so fond of giving the British public will merely invest this one in its absurdly overpriced housing market. It's what happened with all the other freebies.

 

 

 

At least we don,t have to live with the rules they make anymore,It may take a long time and maybe its going to hurt for a long time,But I'm sure you wouldn't want other countries making laws and rules for you?

A lot of men and women and children died to be free in both world wars.....EU maybe good for the smaller countries,But I'm glad we are out! 

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