• Existing user of old message board?

    Your username will have transferred over to this new message board, but your password will need to be reset. Visit our convert your account page, to transfer your old password over.

Budget 2024

It was a bad budget, not just for the headline mistakes but for many more issues it is causing behind the scenes.
Even the BBC has weighed in - wonders will never cease!
Reeves made the classic mistake of working on the best figures and not the worst.
Plan for the worst and hope for the best - she planned for the best and didn't even consider any downsides.
We will tank this year and it is really worrying.
The Economy was on the up when they took over - albeit from a low base - and Reeves has not read the room and put the brakes on growth while at the same time investing in the Public Sector - telling us all that this would promote growth - really - please explain how - especially when the investment came without any output criteria.
Grrr!
 
Jacey said:
So nothing at all to do with Rachel's total incompetence ??
Click to expand...

She is the problem and she is a banker.

Banks extract from the economy, they exploit they do not contribute to growth, all the money kept in their high interest accounts is not invested in the economy, in fact they drive low growth and recession.

They act in their self-interest only.

If they were not independent, and they were not in Thatcher's time, the government which is actually the owner of the BOE through the democratic vote, could act promptly to adjust interest rates without waiting for their belated and usually incorrect decisions. particularly on inflation.

No more MCP comittees whose members naturally benefit from high interest rates.

While this is going on, of course, the BOE will be claiming we are incompetitive and wages are to high.

Bsnking de-regulation was a ghastly mistake, and they are thinking of letting them loose again.

Death to bankers.

😎
 
steeleye20 said:
She is the problem and she is a banker.

Banks extract from the economy, they exploit they do not contribute to growth, all the money kept in their high interest accounts is not invested in the economy, in fact they drive low growth and recession.

They act in their self-interest only.

If they were not independent, and they were not in Thatcher's time, the government which is actually the owner of the BOE through the democratic vote, could act promptly to adjust interest rates without waiting for their belated and usually incorrect decisions. particularly on inflation.

No more MCP comittees whose members naturally benefit from high interest rates.

While this is going on, of course, the BOE will be claiming we are incompetitive and wages are to high.

Bsnking de-regulation was a ghastly mistake, and they are thinking of letting them loose again.

Death to bankers.

😎
Click to expand...
Rachel from Accounts 😀

I read her real job description she was a junior / middle manager at HBOS which in it's self was a minor bank. I would say that she and I were pretty much on the same level. Simply put we carried out orders and did not make policy.

She has been over promoted into a job she has no real experience of and it is showing. Odd that Liz Truss was bombed out of her job by the markets and Reeves has now done a similar thing and yet she is still there.

As for the banks we could abolish them but then who would you borrow money from.
 
There isn't a happy outlook anyway for brexit damaged UK with it's near zero investment and uncompetitive high interest rates.

The auto industry in particular has practically disappeared, less than 100,000 units they made more during the winter of discontent.

Criticism of the visit to China is wrong however, the UK needs to build good relationships with China and BRICS countries, particularly with Trump's unpredictability in mind.

😎
 
'The Bank of England is deliberately driving the economy into recession'.


Let Professor Richard Murphy explain in this enlightening clip.

While the BOE governor is doing this, as it has been for years, Reeves is taking him with her to China.

Old chinese proverb say, ' BOE governor like man with tin leg in thunderstorm'.

😎
 
Badger11 said:
Rachel from Accounts 😀

I read her real job description she was a junior / middle manager at HBOS which in it's self was a minor bank. I would say that she and I were pretty much on the same level. Simply put we carried out orders and did not make policy.

She has been over promoted into a job she has no real experience of and it is showing. Odd that Liz Truss was bombed out of her job by the markets and Reeves has now done a similar thing and yet she is still there.

As for the banks we could abolish them but then who would you borrow money from.
Click to expand...
Banking is not my area of expertise but listening to a former Treasury official and member of the BOE monetary policy committee this morning (did not catch the name) made sense.

He was not political in approach. He though said that the situation now and the Truss “debacle” (his term) is totally different. Truss created the problem herself. The current problem is being created by the fact that our bond rates tend to be closely tied to those in the USA. The US rates have increased because of the uncertainty of the upcoming Trump presidency. Ours have followed.

Our situation is impacted more because of our need to borrow more to fund the commitments made. This will mean a reduction in those commitments or higher taxes.

My guess is that when the government formulated their plans they anticipated a Harris victory but got Trump.
 
Wisbech Eagle said:
Banking is not my area of expertise but listening to a former Treasury official and member of the BOE monetary policy committee this morning (did not catch the name) made sense.

He was not political in approach. He though said that the situation now and the Truss “debacle” (his term) is totally different. Truss created the problem herself. The current problem is being created by the fact that our bond rates tend to be closely tied to those in the USA. The US rates have increased because of the uncertainty of the upcoming Trump presidency. Ours have followed.

Our situation is impacted more because of our need to borrow more to fund the commitments made. This will mean a reduction in those commitments or higher taxes.

My guess is that when the government formulated their plans they anticipated a Harris victory but got Trump.
Click to expand...

'listening to a former Treasury official and member of the BOE monetary policy committee this morning (did not catch the name) made sense'.

To you maybe, but not to anybody else............

😢
 
steeleye20 said:
'listening to a former Treasury official and member of the BOE monetary policy committee this morning (did not catch the name) made sense'.

To you maybe, but not to anybody else............

😢
Click to expand...
Do you think everyone else believes the BOE are trashing the economy?

I suspect they might know more about economic policy than most.
 
Wisbech Eagle said:
Banking is not my area of expertise but listening to a former Treasury official and member of the BOE monetary policy committee this morning (did not catch the name) made sense.

He was not political in approach. He though said that the situation now and the Truss “debacle” (his term) is totally different. Truss created the problem herself. The current problem is being created by the fact that our bond rates tend to be closely tied to those in the USA. The US rates have increased because of the uncertainty of the upcoming Trump presidency. Ours have followed.

My guess is that when the government formulated their plans they anticipated a Harris victory but got Trump.
Click to expand...

I don’t know many who predicted a Harris victory over Trump but if they did then they must be as out of tune as you!
 
Jacey said:
Government borrowing faced with highest rates since 1998.
Well done Rachel.
So much for growth as we are faced with rising prices,inflation and inevitable increasing mortgage costs.
Not a happy outlook.


Latest bond rates, interest rates, Libor and interbank rates - FT.com

The latest international government benchmark and treasury bond rates, yield curves, spreads, interbank and official interest rates.
markets.ft.com markets.ft.com
Click to expand...
the bond price is impacted by global concerns in addition to domestic and it appears the incoming Trump presidency has caused a lot of uncertainty.

So whilst it's not great, Reeves is hardly the main reason for the increase.

Incidentally for comparison when John Major was appointed chancellor back in the late 80s he had only a few 0 levels and no A levels, yet few commented on his ability to do the role.

www.bbc.co.uk

Why are bond yields rising and how does it affect me?

Government borrowing costs have hit their highest level for several years - what does it mean for you?
www.bbc.co.uk
 
Which political hero can save the economy ?

Liz 'car crash' Truss ?
Gordon 'Gold4cash' Brown ?

It seems the UK is blighted by political fck-wits across the board.
 
Reeves has gone to China to secure better trade links.

Lets hope she brings back shed-loads of cheap coal, cheap steel and all the other stuff the UK used to produce for itself.
 
You must log in or register to reply here.

Share this page

Holmesdale Online Shop

Back
Top