14-03-2017, 06:22 PM
1
The Sinking £
HiA double edged sword.
Makes our exports more competitive in the short term, but raises input costs.
Food is starting to cost more, as is electricity.
The other thing is that it makes our Industries much cheaper to buy by Foreign Companies.
Brexit was always going to be bumpy in the short term.
I think that it is about time we started to protect our Industries from Foreign Buyers and sod EU Rules, we are leaving anyway, so what can they do?
14-03-2017, 06:55 PM
2
Re: The Sinking £
It's not going to be "bumpy" in the short term, but the medium term particularly with the Union under threat. Bumpy meaning hardship, poverty and a reduction in living standards we take for granted currently. A gradual erosion of our wealth. Sterling will pick up once there is some certainty but putting imports/exports aside, it's the value of the country that is what's being reduced. It's confidence in our economy that's going downhill because people don't see sterling as a good currency to stock up on. The government needs to provide more certainty to head this off, but we haven't even fired a Brexit starting gun.I understand your concerns re foreign buyers, but we will need international investment in order to thrive alone. Few large organisations are solely British owned, because the successful ones are floated & globally owned by mysterious shareholders and are probably paying some of the pensions here.
14-03-2017, 07:17 PM
3
Re: The Sinking £
Originally Posted by AnnieS
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It's not going to be "bumpy" in the short term, but the medium term particularly with the Union under threat. Bumpy meaning hardship, poverty and a reduction in living standards we take for granted currently. A gradual erosion of our wealth. Sterling will pick up once there is some certainty but putting imports/exports aside, it's the value of the country that is what's being reduced. It's confidence in our economy that's going downhill because people don't see sterling as a good currency to stock up on. The government needs to provide more certainty to head this off, but we haven't even fired a Brexit starting gun.I understand your concerns re foreign buyers, but we will need international investment in order to thrive alone. Few large organisations are solely British owned, because the successful ones are floated & globally owned by mysterious shareholders and are probably paying some of the pensions here.
I am no financial expert, however both my kids are
One has moved abroad already, the other one is working on the tax implications of moving some major clients abroad.
As for a bumpy ride, the £ is up and down like a yoyo, but constantly heading down at the moment.
Last year, I got 6 Zloty to the £, now it is less than 5.
The high earning Polish are leaving, moving to Holland and Germany.
Peter is the latest, a great cheesemaker, moving to Holland.
A local firm is in a mess, two hydraulic engineers both leaving for Germany because of the fall in the £.
I have to disagree with you, but then I am not always right.
My two kids are financially savvy, they are no idiots.
My financial ability is simple, the cost of my Fags, and they have gone up significantly due to the exchange rate.
14-03-2017, 09:12 PM
7
Re: The Sinking £
Originally Posted by longfellow
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Whilst petrol went down 2p a ltr today at my local Tescos service station. Thats how I judge if things are good or bad.
That is due to falling oil demand.
We pay for oil in $ Dollars, it would have been much cheaper without the fall in the £.
Our Electricity costs have also gone up due to the fall in the £.
14-03-2017, 10:45 PM
9
Re: The Sinking £
Originally Posted by AnnieS
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I thought it was all part of a price war Opec were playing with the US because of Shale oil production.
I can see any future referendums being defeated by even more of a majority. Just do the maths.
14-03-2017, 11:04 PM
10
Re: The Sinking £
Originally Posted by OldGreyFox
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And isn't this having an impact on North Sea Oil production. Something that Nicola Sturgeon was relying on to finance the Scottish economy during the first referendum.I can see any future referendums being defeated by even more of a majority. Just do the maths.
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