UK will fall into recession this year, warns Bank

[Cheshire Cat]

But you are forever trying to justify yourself saying it is the fault of the Tory party? Fault for what Covid? War in Ukraine?

I’m justifying nothing I’ve had a successful career in senior management at large corporations. However the Tories both this lot and the witch have destroyed this country’s manufacturing base and now the economy.

 

[Brianbrewed]

we are leading in the sporting arena

You guys did great in the Koala tossing and kangaroo kicking this year.
Best of luck in the didgeridoo finals

 

[Chippy_Tea]

who wants to live in a place like this

I don't like spiders but given the choice between Bondi and Blackpool i know which i would choose.

 

[Clint]

I don't like spiders but given the choice between Bondi and Blackpool i know which i would choose.


View attachment 72749

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Either one you'll need your posing pouch.

 

[Chippy_Tea]

Either one you'll need your posing pouch.

No need mate my beer belly hides my chipolata

 

[Crappyfish]

Have ye ever thought about a military dictatorship.
Oliver Cromwell springs to mind

At least the royals would be gone

 

[Crappyfish]

And no one has mentioned the effect of the leaving the single market, yet...

Brexit didn't help

 

[Rodcx500z]

Well street lights are still on swimming pools are still warm unlike Germany who relie on Russian gas, Italy Greece portugal nearly bankcrupt, yep it's all good in the EU, our government and leaders caught with their pants round their ankles now they have to run a country instead of some unknown unelected person in Brussels

 

[Rodcx500z]

And prisoner cell block h jeez

 

[Brianbrewed]

yep it's all good in the EU,

Pretty decent in Ireland.

Currently in the hell that is known as France, on holidays.

Having to force myself to eat the bread and pastries.
Standard of life here is awful

 

[Dutto]

…. If I remember rightly, the last time we had a Labour government tax payers had to fork out £500 billion to bail the banks out!

So, should the Labour government have let the banks go into liquidation; and allow the people who banked with them lose their savings or were employed by them lose their jobs?

It was not the Labour Government that caused the financial crash; it was the Banks!

 

[Dutto]

….. The only consolation is that she will do for the tories what corbyn did for labour, ie make the tories unelectable.

Er … I think you will find that it was what the Right Wing Media did to the Labour Party rather than what Mr Corbyn did!

 

[Dutto]

Why do the ozzies have such a chip on their shoulders? …..

Please leave the people from Australia alone!

Personally, I’ve found them to be a well balanced bunch of people …

… with chips on both shoulders!

 

[Dutto]

I don't like spiders but given the choice between Bondi and Blackpool i know which i would choose.

Never been to Bondi but spent a huge amount of money to send SWMBO and her sister out there.

They were visiting their brother in Melbourne but went to Sidney for a long week-end. I asked them what their trip to Sidney was like and got “There was a Beach, an Opera House and a Bridge and that was about it really! We really enjoyed Singapore though!”

My vote has to be Blackpool I’m afraid!

 

[Cheyne_brewer]

Summary​

1. The Bank of England has raised interest rates again from 1.25% to 1.75% as it battles to curb rising prices
2. The increase is the biggest in 27 years and will increase pressure on households already struggling with the cost of living
3. It makes mortgages and loans more expensive but increases the return on savings
4. Inflation, the rate at which prices grow, is expected to rise even further this year, peaking at 13% in October
5. The UK is expected to fall into recession - which means the economy is shrinking - in the final three months of this year

The Bank of England expects the economy to shrink in the final three months of this year and keep shrinking until the end of 2023, after it raised interest rates from 1.25% to 1.75%.
This would make it the longest downturn since the 2008 financial crisis.
The Bank blamed the slump largely on rising gas prices following Russia's invasion of Ukraine, warning a typical energy bill will hit £3,500 in October.

And no explanation of how increasing interest rates will solve inflation when this is down to global food and energy prices. It just makes life harder still. Of course the economic impact of sky-high road fuels, gas and electricity will impact industries as well as consumers and contribute to a downturn, then high interest rates will deter rescue borrowing and add to the slump. Perfect storm I’d say.

 

[TonyT]

Brexit didn't help

Ooooh, careful. Don’t insult the sacred cow!

 

[jof]

Ooooh, careful. Don’t insult the sacred cow!

@Crappyfish What have you done you troll!
You've turned this into another bloody Brexit thread.
It's getting as bad as the BBC .

 

[TonyT]

@Crappyfish What have you done you troll!
You've turned this into another bloody Brexit thread.
It's getting as bad as the BBC .

But to not talk about brexit when you’re having a discussion on the economy is avoiding the elephant in the room.

 

[winslade]

Criticism is where it is due. Nothing to do with inferiority complex, why would an Aussie have an inferiority complex when a nation with 1/3 rd less population than England we are leading in the sporting arena and commerce

Why do the ozzies have such a chip on their shoulders? Aren’t they the Poms I thought it stood for Prisoners of Her Majesty

Jealousy will get you nowhere. What is a bluey? With China looking likely to come back on board after a couple of years boycotting anything Australian the coal export looks likely to recommence, bad news for the Greens, hopefully followed by the wine, students, rock lobster, cherries, wool, beef lamb pork and dried milk. Things are looking hunky-dory

Chinese province within 20 years.

 

[Crappyfish]

@Crappyfish What have you done you troll!
You've turned this into another bloody Brexit thread.
It's getting as bad as the BBC .

Sorry just thought it may have had a impact on the economy with losing free trades between EU countries and a lack of red tape to stop massive lorry queues at Dover with spoilt food in the cargo trying to cross the channel and the UK border being in France may have helped the situation. I didn't want to start a full blown pro or anti Brexit debate so I've kept it short i apologise if I opened any old disagreements.

Ps the NHS hasn't got the money promised yet.