Interest rates

[The Blue Merle]

And every new home purchase means lots of new ‘stuff’ needs to be bought. Appliances, carpets, curtains, furniture, etc, etc. I guess that stimulates the economy.

All those houses would of been bought anyway, the stamp duty give away always ends up benefiting the seller as it just pushes the sale price up

 

[soulstyledevon]

Surely, the best way to stimulate the economy, is to give real people money to spend.
Drop income tax at the lower end from 20% to 15% and drop VAT to 12.5% for 9 months.

Scrapping higher rate income tax won’t make any difference.
Anyone else, genuinely worried about the value of Sterling at the moment…

 

[Calimili]

It's unpopular politics with the Tory voting middle classes, but if you wanted to spend £50 billion and put it straight into the economy you should do exactly that.

Surely, the best way to stimulate the economy, is to give real people money to spend.
Drop income tax at the lower end from 20% to 15% and drop VAT to 12.5% for 9 months.

Scrapping higher rate income tax won’t make any difference.
Anyone else, genuinely worried about the value of Sterling at the moment…

If you drop vat people on the dole would also benefit, that can‘t be right. Just cap diesel and energy costs, lower income tax, ban the greens that got us in this mess.

 

[GrannyJen]

GBP-USD down 3% today

View attachment 99714

Hardly surprising when the financial statement is totally contrary to the Bank of England steerage.

 

[sidepod]

I was driving through Switzerland last week thinking, bollox, I’m heading back to a broken 3rd world country!

 

[RodCouncil]

I was driving through Switzerland last week thinking, bollox, I’m heading back to a broken 3rd world country!

I think that every single day I look at the news or login here, thank Woo Hoo I don’t live in the UK is my daily Lord’s Prayer.

 

[Corradobrit]

I think that every single day I look at the news or login here, thank Woo Hoo I don’t live in the UK is my daily Lord’s Prayer.

As a Brit in Germany I concur

 

[westfalia]

The UK is great, every country has its pros and cons,
although you do need to have a bit of cash.
Here's a con-
Here's a pro -

 

[Californication69]

Damn, I so wanted the VAT drop

 

[GrannyJen]

I think that every single day I look at the news or login here, thank Woo Hoo I don’t live in the UK is my daily Lord’s Prayer.

As I live in the UK I do not have that luxury.

As an old, past it, biddy who always looks back to the "good old days" I'm overjoyed those days are coming back again.

Oh the good old days, Rationing for my first seven years, then the swinging sixties when we lived wild parties swallowing Purple Hearts and black bombers as unemployment hit 2m, then the sultry seventies when we smoked pot, had the three day week, power cuts and inflation hitting 22%, then the totally riotous 80's when you either did not work, was called an evil scrounger and told to get on your bike, or you did work and went on strike instead.

Then we had cool Britannia, obscene bankers bonuses and bless her, fizzy Lizzy has just stated we could go back to those halcyon years again, bless them, the W.. er ...Bankers, who went bust but got bailed out which led to boy George introducing austerity which meant everyone who could not afford it paid for the bail out but everyone who could followed Branson to a tax haven ....

Oh yes, the good old days ...

Glad they're bringing them back....

 

[Vagophile]

Oh yes, the good old days ...

Stop it. STOP IT! You're making me nostalgic.

 

[willwander]

Well I think we’re heading back to the 1970’s, which as far as I remember were shite

 

[Corradobrit]

Well I think we’re heading back to the 1970’s, which as far as I remember were shite

At least there are no Austin Allegro's on the road, so not all bad.

 

[vmaxkiddy]

Ahhh, back to the seventies, great rock music and LSD, made it all bearable.

 

[GrahamB]

I was driving through Switzerland last week thinking, bollox, I’m heading back to a broken 3rd world country!

I felt the same coming back from France!

 

[soulstyledevon]

Time for a bit of satire…

 

[NoviceCaliOwner]

We have a call next Friday with Barclays to see what they have available. Early indications look like a 5y fix is cheaper than a 2y
Trouble is, I want to extent the Mortgage to finish the current renovation which we were due to start next spring. However, with the economy looking gloomy, I’ve decided to hold fire and wait 24 months, to see how things pan out…

And now with the ££ dropping against the $$ so much the Bank of England are most probably gonna to have to raise interest rates rapidly and more aggressively to combat this…. I’m fooked on my 1.75% above Bank of England rate tracker

 

[Lambeth Cali]

Surely, the best way to stimulate the economy, is to give real people money to spend.
Drop income tax at the lower end from 20% to 15% and drop VAT to 12.5% for 9 months.

Scrapping higher rate income tax won’t make any difference.
Anyone else, genuinely worried about the value of Sterling at the moment…

They want to grow the economy not stimulate it. That would increase inflation.
The BS theory is the wealthy will invest the money and grow businesses. Complete clap trap.

Pound’s a disaster. My wife’s business main client is American so it’s a win for them.

 

[Lambeth Cali]

And now with the ££ dropping against the $$ so much the Bank of England are most probably gonna to have to raise interest rates rapidly and more aggressively to combat this…. I’m fooked on my 1.75% above Bank of England rate tracker

Me too. 2.49% above base.
But I’ve booked an appointment to go 2 yr fixed next Wednesday!

 

[The Tall Luthier]

They want to grow the economy not stimulate it. That would increase inflation.
The BS theory is the wealthy will invest the money and grow businesses. Complete clap trap.

Pound’s a disaster. My wife’s business main client is American so it’s a win for them.

I once took my kids to DiggerLand, they had a great time randomly pulling levers to see what it did to the digger’s bucket.

Truss and Kwarteng should have started their Premiership there, not in Downing Street, as they really don’t have a clue!

“I know what let’s sack the civil servant who can guide us through how the levers work and just give en all a good yank!”

 

[soulstyledevon]

Truss and Kwarteng should have started their Premiership there, not in Downing Street, as they really don’t have a clue!

To be fair, we voted them in.
Actually, hold on a minute……

 

[sidepod]

Biggest problem with this country is nobody gives a toss about anything but themselves. We're just a push over. We barely even use our vote FFS! No wonder the governments do whatever they please.

What we need is a bit more of the French style protesting and generally giving a F***!

 

[willwander]

Two things going on
- $ is rising Globally.
- $ is rising against £
They both get rolled into one, which is convenient or not depending on your agenda.

 

[The Tall Luthier]

Two things going on
- $ is rising Globally.
- $ is rising against £
They both get rolled into one, which is convenient or not depending on your agenda.

GBPEUR rate is 1.10€
Two weeks ago it was 1.17€
That’s a 6% drop.

That means our food imports are 6% more expensive as of now.

Gilt prices have also shifted meaning that whereas government debt had a 1.7% interest rate it now suffers a 4.35% interest rate.

 

[Amarillo]

GBPEUR rate is 1.10€
Two weeks ago it was 1.17€
That’s a 6% drop.

That means our food imports are 6% more expensive as of now.

Much more of this Kwasiomics (quasi-economics) we will be looking at (yet) another vote of no confidence in our prime minister in the very near future. Tory MPs never wanted Truss in the first place. Sunak consistently had the Tory MPs vote and only lost to Truss when unelected members of the Tory party were given the final say.