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The Polish base rate has gone up to 5.5% - Forbes.

The rising rates, while the US is cutting and ECB is holding, are driving the zloty to record highs. Now PLN 4.63 to the pound. It was 6.7 in 2003.

As many mortgage borrowers have mortgages in foreign currencies (and most businesses borrow in Euro) they are probably cheering the increases in the PLN rate! Ironically, the Central Bank's 'tightening' is leading to appreciation of their currency and hence reducing the actual burden of servicing their debts. In some ways, a rise in local interest rates will actually fuel inflation as it increases(!) disposable income for a large segment of the population.

Of course, it means that the Central Bank doesn't really have much influence on the real economy. Cuts in rates, which are in theory meant to stimulate the economy, will have the effect of reducing the value of the zloty, increasing the cost of servicing foreign debt, and will lead to a decrease in disposable income and hence consumption for a large part of the population.

It's a very interesting situation.

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And if the Polish workers in Britain are getting less for their British £ earnings when they send them home, it might prompt a few of them to think why am I still here?

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And if the Polish workers in Britain are getting less for their British £ earnings when they send them home, it might prompt a few of them to think why am I still here?

It can't be good for Polish workers in the UK, unless they have been converting all their pounds into zlotys as they go along. I wonder if many of them would have ended up better off staying in Poland, buying a cheap house with a cheap mortgage and getting a head start by starting a business or career in a growing economy rather than a slowing one?

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And then they all headed home

After after causing untold misery to a large porportion of the local populance, headed home with the spoils of the victors.They marched over here in a blitzreig, plundered and took all they could till there was nothing left to take.And when there was nothing left, when the locals were reduced to the same level as where they came from, they packed there bags and got out fast leaving the locals to pick up the pieces.

poland didint like invasion, neiver should we.

You can all squeal on here about how hard they work, you can all celebrate how you hired 10 of them because the locals were just to lazy.But you all know your personal gain from this cheap labour invasion has been detrimental to the nation as a whole.The longer and harder the invasion of cheap labour continues the worse and worse you personally will start to find it.

Because the benifits only counted when you alone had the cheaper labour than your competitor, So your competitor had to match you in a downward fight of labour costs and cheaper conditions.But once you have all been paying these rates and have set the level then no-one at all has gained anything, just the locals that have suffered.

Now you can understand why labour had to enforce a minimum wage which we all celebrated, it was not to improve your living standards like we all assumed, it was to stop total destruction of the economy from the cheaper and cheaper flood of labour they wanted under there master plan.

An integrated free flowing populance of europe to diminish national boundaries was the whole idea behind it, and they didint even give us the promised vote incase we wanted to object.The whole last 10 years has soley been about creating the elites european agenda.They subdued the populance with tax credits and benifits lest they saw the true picture of wage destruction.The gave the corporations there pay offs in a unlimited supply of obiedient cheap educated labour.

dont you feel had ?

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And then they all headed home

After after causing untold misery to a large porportion of the local populance, headed home with the spoils of the victors.They marched over here in a blitzreig, plundered and took all they could till there was nothing left to take.And when there was nothing left, when the locals were reduced to the same level as where they came from, they packed there bags and got out fast leaving the locals to pick up the pieces.

poland didint like invasion, neiver should we.

You can all squeal on here about how hard they work, you can all celebrate how you hired 10 of them because the locals were just to lazy.But you all know your personal gain from this cheap labour invasion has been detrimental to the nation as a whole.The longer and harder the invasion of cheap labour continues the worse and worse you personally will start to find it.

Because the benifits only counted when you alone had the cheaper labour than your competitor, So your competitor had to match you in a downward fight of labour costs and cheaper conditions.But once you have all been paying these rates and have set the level then no-one at all has gained anything, just the locals that have suffered.

Now you can understand why labour had to enforce a minimum wage which we all celebrated, it was not to improve your living standards like we all assumed, it was to stop total destruction of the economy from the cheaper and cheaper flood of labour they wanted under there master plan.

An integrated free flowing populance of europe to diminish national boundaries was the whole idea behind it, and they didint even give us the promised vote incase we wanted to object.The whole last 10 years has soley been about creating the elites european agenda.They subdued the populance with tax credits and benifits lest they saw the true picture of wage destruction.The gave the corporations there pay offs in a unlimited supply of obiedient cheap educated labour.

dont you feel had ?

It wasn't about cost, it was about work ethic and quality of the work. The British builders in London would not show up, leave jobs half done (a couple I know had to use a bucket as a loo due to builder leaving a bathroom job unfinished for a week!). They have one trade each, so have to get another guy in to do the plastering, one for tiling, one to paint, one to clean up (at the end of the job, not the end of the day)..........The E European ones on the other hand tend to be tidy, turn up on time and have pride in their work. I'd happily pay them the same rates or more than their British counterparts as I know the job will be done in 1/2 the time, and to a better standard.

So no I don't feel had.

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It can't be good for Polish workers in the UK, unless they have been converting all their pounds into zlotys as they go along. I wonder if many of them would have ended up better off staying in Poland, buying a cheap house with a cheap mortgage and getting a head start by starting a business or career in a growing economy rather than a slowing one?

good points, with respect we've discussed this ad nauseum before, however, this is bang on the money IMHO. For the most part immigrants get crap jobs, (mostly illegal) on crap money and have to exist in our inflationary environment were housing (irony) is so expensive. I just can't get the image that they've been rushing down to the Checkpoint in Marble Arch, exchanging their 2K sterling (obtained for a morning's plumbing job in Mayfair) for zlotys and then nipping into Western Union to send to granny, so she can buy up all the new BTL units before the waves of dumb English fly to letters bag 'em. They'll go back with little to little except a high inflationary environment <_<

Edited by Converted Lurker

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good points, with respect we've discussed this ad nauseum before, however, this is bang on the money IMHO. For the most part immigrants get crap jobs, (mostly illegal) on crap money and have to exist in our inflationary environment were housing (irony) is so expensive. I just can't get the image that they've been rushing down to the Checkpoint in Marble Arch, exchanging their 2K sterling (obtained for a morning's plumbing job in Mayfair) for zlotys and then nipping into Western Union to send to granny, so she can buy up all the new BTL units before the waves of dumb English fly to letters bag 'em. They'll go back with little to little except a high inflationary environment <_<

The ones who will do well if they go back are the ones who already own or have bought some real estate back home a few years ago. Or the ones who have a job in a field that they want to continue working in so they can return with relevant experience and language skills.

The worst casualties will be those who went to university in Poland and then spend X years in the UK working in meanial jobs. They will not be employable in the field in which they were educated, nor will they make enough money to do anything with it in the UK or back in Poland. They will end up bitter.

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It can't be good for Polish workers in the UK, unless they have been converting all their pounds into zlotys as they go along. I wonder if many of them would have ended up better off staying in Poland, buying a cheap house with a cheap mortgage and getting a head start by starting a business or career in a growing economy rather than a slowing one?

out of interest, have you ever visited Poland? I mean, seen the country, not gone to Krakow on a stag w/e?

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It wasn't about cost, it was about work ethic and quality of the work. The British builders in London would not show up, leave jobs half done (a couple I know had to use a bucket as a loo due to builder leaving a bathroom job unfinished for a week!). They have one trade each, so have to get another guy in to do the plastering, one for tiling, one to paint, one to clean up (at the end of the job, not the end of the day)..........The E European ones on the other hand tend to be tidy, turn up on time and have pride in their work. I'd happily pay them the same rates or more than their British counterparts as I know the job will be done in 1/2 the time, and to a better standard.

So no I don't feel had.

I have some friends who a few months ago decided to get some Polish builders in to do some extensive internal work on their house. They did some work involving a new toilet which promtly flooded when the first heavy rain came, due to them (illegally) joining the roof drain and toilet. There were other things which during the course of the work were spotted and told the builders to correct. The couple concerned went away for 3 weeks holiday in Oz, leaving the builders to correct the mistakes and complete the rest of the job. They returned to find that the builders had done nothing and had fecked off back to Poland WITH THE MONEY THAT THEY HAD ALREADY BEEN PAID (roughly 2/3 of the final agreed cost.

The reason they got Polish builders was to save some money on the job!

Hmmmmm.

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And then they all headed home

After after causing untold misery to a large porportion of the local populance, headed home with the spoils of the victors.They marched over here in a blitzreig, plundered and took all they could till there was nothing left to take.And when there was nothing left, when the locals were reduced to the same level as where they came from, they packed there bags and got out fast leaving the locals to pick up the pieces.

....

Now you can understand why labour had to enforce a minimum wage which we all celebrated, it was not to improve your living standards like we all assumed, it was to stop total destruction of the economy from the cheaper and cheaper flood of labour they wanted under there master plan.

The poles can come here and save enough money in 3 years to buy a nice place outright back in Poland, that a very positive goal and worth suffering long hours of work for a couple of years.

Wheras we have to buy overpriced garbage property and then spend 25 years paying it off. Those guys have the right idea. They must look at us and think... what a bunch of muppets!!

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  • 293 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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