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laurejon

Labour Isnt Working

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I thought it would be beneficial to post this article on what we oldies call the Trade Deficit. In the old days it was important to keep a keen eye on what you exported, and what you imported. If the trade gap widened then the ony tool to keep it under control was interest rate rises to keep a cap on the inflation that will surely follow. Obviously in a new miracle economy it is important to import much more than you export and borrow the money to pay for it. In addition if you can offshore your jobs that too is beneficial and a key part of ensuring you maintain a miracle economy to perfection. As a last resort Pixie Dust can be used, however in the history of the UK no chancellor has ever publicly used pixie dust as a means of harnessing a runaway trade deficit.

UK trade deficit widens again

The UK is importing more and more manufactured goods like cars

Britain's trade deficit with the rest of the world has risen again, according to the latest official figures.

The Office for National Statistics said the UK imported £4.4bn ($8bn) worth of goods more than it exported in November, up from £4.25bn in October.

In the past three months the UK has a record trade deficit of £13.2bn.

Reduced production of North Sea oil due to maintenance was one reason for the deficit, but the declining dollar is also hurting UK exports to the USA.

Dollar weakness

Exports to the United States fell by nearly 10% in November to £2.3bn, despite the rapid growth in the US economy, which grew by 8% in the third quarter of the year.

This accounted for two-thirds of the drop in exports for the month.

Another poor set of trade data

Geoffrey Dicks, chief economist, RBS financial markets

Since then, the dollar has fallen further against the pound to an eleven-year low of $1.83.

The higher pound makes UK goods more expensive in the US, and may dash hopes that a booming global economy will help spark UK economic growth.

"It normally takes longer for currency effects to feed through. So, it's entirely possible that if sterling remains at the current level over the course of the next few months, we are going to find that exports to the US could be well under more pressure," said Commerzbank economist Peter Dixon.

It was "another poor set of trade data," according to Geoffrey Dicks of RBS financial markets.

Liberal Democrat trade spokesman Malcolm Bruce warned of the "imbalance in the British economy."

"There is a continued decline in the manufacturing industry, combined with the inability of services and tourism to close the gap. The UK's economy is now heavily dependent on property inflation to maintain its momentum. This is an very unhealthy state of affairs."

For the Conservatives, shadow trade secretary James Arbuthnot said:

"The Government¿s interference in business decisions, its imposition of new red tape - 15 new regulations a day - and its ever increasing demands in taxation are tying the hands of British businesses behind their backs. It is not surprising that exporters are having a difficult time."

Services help

The UK traditionally counterbalances its shortfall in trade in goods with a surplus in the supply of services, such as transport, banking, and insurance, to the rest of the world.

In November trade in services showed a £1.1bn surplus, compared to £1.0bn in October, and this lowered the overall trade deficit to £3.3bn.

However, exports of North Sea oil were in surplus by just £200m in November, compared to £235m in October.

In previous months maintenance shutdowns of North Sea oil rigs have reduced the UK's trade surplus in oil.

Even taking into account services, the overall trade balance fell to a record £10.2bn deficit in the three months to November, compared to £9.2bn in the three months to August.

Nearly all of the UK's trade deficit is accounted by its deficit in finished manufactured goods like cars, which reached £9.8bn in the three months to November.

According to the Office for National Statistics, the trend suggests that the overall trade deficit is continuing to widen.

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Guest Bart of Darkness

Yes but who's shagging who on Emmerdale?

What's Jordan being doing lately.

Who won Celeb Big Brother?

These are surely the important issues of the day for the Great British public?

Recession? Never saw it coming mate! But did you see that X is cheating on Y in Corrie? Big rollover on the Euro Lotto this week, I see City lost again....

Heavy physical work, the care of home and children, petty quarrels with neighbours, films, football, beer, and above all, gambling, filled up the horizon of their minds. To keep them in control was not difficult. A few agents of the Thought Police moved always among them, spreading false rumours and marking down and eliminating the few individuals who were judged capable of becoming dangerous; but no attempt was made to indoctrinate them with the ideology of the Party. It was not desirable that the proles should have strong political feelings. All that was required of them was a primitive patriotism which could be appealed to whenever it was necessary to make them accept longer working-hours or shorter rations. And even when they became discontented, as they sometimes did, their discontent led nowhere, because being without general ideas, they could only focus it on petty specific grievances. The larger evils invariably escaped their notice.

George Orwell, 1984.

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where did this come from:

Since then, the dollar has fallen further against the pound to an eleven-year low of $1.83.

it was around 1.9 in the spring

Friday's close:

£1 is worth...

1.7672 U.S $

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Recently it was stated that 30,000 jobs per year had been out-sourced since the year 2000. Combine that with cheap Eastern European workforce and hey presto there's nothing left for your average Brit to do except watch Big Brother with the rest of the Chavs. I guess you can spend your days talking to the illiterate ****wipes in Bangalore. Bet your **** Labour isn't working. We had a superb economy up until the end of the last century and then wallop.

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Yes but who's shagging who on Emmerdale?

What's Jordan being doing lately.

Who won Celeb Big Brother?

These are surely the important issues of the day for the Great British public?

Recession? Never saw it coming mate! But did you see that X is cheating on Y in Corrie? Big rollover on the Euro Lotto this week, I see City lost again....

gotta agree with this

this is how most people see things i'm affaird.

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I thought it would be beneficial to post this article on what we oldies call the Trade Deficit. In the old days it was important to keep a keen eye on what you exported, and what you imported. If the trade gap widened then the ony tool to keep it under control was interest rate rises to keep a cap on the inflation that will surely follow. Obviously in a new miracle economy it is important to import much more than you export and borrow the money to pay for it. In addition if you can offshore your jobs that too is beneficial and a key part of ensuring you maintain a miracle economy to perfection. As a last resort Pixie Dust can be used, however in the history of the UK no chancellor has ever publicly used pixie dust as a means of harnessing a runaway trade deficit.

UK trade deficit widens again

The UK is importing more and more manufactured goods like cars

Britain's trade deficit with the rest of the world has risen again, according to the latest official figures.

The Office for National Statistics said the UK imported £4.4bn ($8bn) worth of goods more than it exported in November, up from £4.25bn in October.

In the past three months the UK has a record trade deficit of £13.2bn.

Reduced production of North Sea oil due to maintenance was one reason for the deficit, but the declining dollar is also hurting UK exports to the USA.

Dollar weakness

Exports to the United States fell by nearly 10% in November to £2.3bn, despite the rapid growth in the US economy, which grew by 8% in the third quarter of the year.

This accounted for two-thirds of the drop in exports for the month.

Another poor set of trade data

Geoffrey Dicks, chief economist, RBS financial markets

Since then, the dollar has fallen further against the pound to an eleven-year low of $1.83.

The higher pound makes UK goods more expensive in the US, and may dash hopes that a booming global economy will help spark UK economic growth.

"It normally takes longer for currency effects to feed through. So, it's entirely possible that if sterling remains at the current level over the course of the next few months, we are going to find that exports to the US could be well under more pressure," said Commerzbank economist Peter Dixon.

It was "another poor set of trade data," according to Geoffrey Dicks of RBS financial markets.

Liberal Democrat trade spokesman Malcolm Bruce warned of the "imbalance in the British economy."

"There is a continued decline in the manufacturing industry, combined with the inability of services and tourism to close the gap. The UK's economy is now heavily dependent on property inflation to maintain its momentum. This is an very unhealthy state of affairs."

For the Conservatives, shadow trade secretary James Arbuthnot said:

"The Government¿s interference in business decisions, its imposition of new red tape - 15 new regulations a day - and its ever increasing demands in taxation are tying the hands of British businesses behind their backs. It is not surprising that exporters are having a difficult time."

Services help

The UK traditionally counterbalances its shortfall in trade in goods with a surplus in the supply of services, such as transport, banking, and insurance, to the rest of the world.

In November trade in services showed a £1.1bn surplus, compared to £1.0bn in October, and this lowered the overall trade deficit to £3.3bn.

However, exports of North Sea oil were in surplus by just £200m in November, compared to £235m in October.

In previous months maintenance shutdowns of North Sea oil rigs have reduced the UK's trade surplus in oil.

Even taking into account services, the overall trade balance fell to a record £10.2bn deficit in the three months to November, compared to £9.2bn in the three months to August.

Nearly all of the UK's trade deficit is accounted by its deficit in finished manufactured goods like cars, which reached £9.8bn in the three months to November.

According to the Office for National Statistics, the trend suggests that the overall trade deficit is continuing to widen.

Well said laurejon.

tinkerbrown5la.gif

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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