Here come the excuses

[Mrs Ten Names]

Grease is an interesting example - what they were doing monetary wise just wasn't on.

You mean like greasing palms?

 

[Mrs Ten Names]

And you don't think the digital world will trump democracy as soon as it gets everything in position..

That is why the dog is wagging the tail, rather than vice-versa.

 

[Notch7]

Tackling people smugglers was one, IIRR

I can’t see Labour achieving much on that, although I believe they are going to tackle it with the best intentions

TIt needs international cooperation….and no country want to talk about the refugee crisis, because every govt has right wing populists in the background weaponising it for political self interest. People like the lying Farage

 

[Mrs Ten Names]

I can’t see Labour achieving much on that, although I believe they are going to tackle it with the best intentions

TIt needs international cooperation….and no country want to talk about the refugee crisis, because every govt has right wing populists in the background weaponising it for political self interest. People like the lying Farage

I agree, but when will someone in power discuss the possibility of safe and legal routes.
It's the obvious solution.
They won't consider it because they know it will work, and then they'll be ridiculed for not considering it sooner.

 

[ajohn]

It will be a while before the IMF produce another forecast. This is the last one prior to the election

The UK economy is approaching a soft landing, following a mildtechnical recession in 2023. A modest recovery is projected, with 0.7 percent growth in2024, strengthening to 1.5 percent in 2025. Inflation has fallen rapidly from double digitlevels last year in the context of easing energy prices and tight policies. Assuming wage and services inflation continue to moderate from their current elevated levels, inflation should return durably to target in the first half of 2025. The medium-term outlook is affected by significant public spending pressures, notably in healthcare, and the downshift in labor productivity growth post-GFC, exacerbated by recent adverse shocks(Brexit, COVID, energy price surge). Risks to the outlook are balanced. A general election is scheduled on July 4.

United Kingdom: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for United Kingdom

The UK economy is approaching a soft landing, following a mild technical recession in 2023. A modest recovery is projected, with 0.7 percent growth in 2024, strengthening to 1.5 percent in 2025. Inflation has fallen rapidly from double digit levels last year in the context of easing energy...

www.imf.org

All I put down to the Tory on this is austerity following the Global Financial Crisis. High taxation levels propping up the system to levels that are still too low. Other than the GFC shocks settle and things tend to stabilise. Inflation can boost GDP as can wage growth. That in this case is a general country wide aspect not specific sectors / jobs.. To match the min wage has been increased by near 10%.

A lot of the service sector have been running at lower profit margins to keep customers. Hence the levels of inflation in that sector. We may see shrinkflation in our burgers etc.

The GFC is interesting as the Tory put the lot down to Labour. Truth is that they were unfortunate, in power when it happened. Labour doing the same thing - not sure but bound to make a meal of it. However take the IFS. They pushed borrowing to improve some aspects as they thought that this could be done to some extent without upsetting the markets. Now they don't think that is on.

Covid has cropped up again. Studies reckon that long covid has reduced growth by about 0.5% due to shorter working hours. Not a specific UK aspect. Many countries much the same. The BofE touched on this a good while ago - illness appearing to be a problem but not sure why.

 

[Vinty]

The Euro is structurally flawed, it forces very different economies to fit a single set of fiscal rules which as you say is fine for Germany but bad for Southern Europe

Didn't the Germans invent the Euro to make their exports outside the Eurozone more competitive.
The strength of the D. Mark was affecting their competiveness abroad, the relative weakness of the Euro turned their deficit into a surplus, the fact that it had an adverse affect on the economies of Southern Europe didn't seem to bother them.

 

[Notch7]

Didn't the Germans invent the Euro to make their exports outside the Eurozone more competitive.
The strength of the D. Mark was affecting their competiveness abroad, the relative weakness of the Euro turned their deficit into a surplus, the fact that it had an adverse affect on the economies of Southern Europe didn't seem to bother them.

It seems the opposite is true

The French wanted the Euro believing it would protect them against the power of a reunified Germany


“In French eyes, Germany divided was reassuringly weak; Germany united would be frighteningly strong. Faced with this, the French President, François Mitterrand, came to believe that a single European currency was the only way for other European countries to regain the sovereignty they had already lost to Germany – and in particular to the German central bank, which maintained a super-strong Deutschemark”

The euro was designed to assuage fears of German power

In the second of a three-part series, The Independent’s founding editor finds that Germany’s economic relationship with its neighbours came to define the European Union

www.independent.co.uk

 

[Mrs Ten Names]

Didn't the Germans invent the Euro to make their exports outside the Eurozone more competitive.
The strength of the D. Mark was affecting their competiveness abroad, the relative weakness of the Euro turned their deficit into a surplus, the fact that it had an adverse affect on the economies of Southern Europe didn't seem to bother them.

You could consult the official record instead of implying a rumour is true with an apparently "innocently" phrased question.

On 1 January 1999, eleven European countries took a historical step forwards by entering Stage Three of Economic and Monetary Union. Thereby, the national currencies of these eleven countries became denominations of a single currency.

• first, we should not forget that the idea of introducing a single currency was originally motivated by the overall political arguments that an increased integration of the European countries would reduce the risk of war and crises on the continent.
• second, on a macroeconomic level, a single monetary policy in the euro area which is firmly geared towards price stability will enhance political and economic stability, not only in the euro area, but also in a global context;
• third, on a microeconomic level, the use of the same currency in the euro area will increase cross-border competition and market integration, thereby improving the efficiency of the markets for goods, services and capital in the participating countries. This should lead to reduced transactions costs, improved price transparency and lower price pressures.

The euro: the birth of a new currency

The euro: the birth of a new currency

www.ecb.europa.eu

 

[ajohn]

I can’t see Labour achieving much on that, although I believe they are going to tackle it with the best intentions

I'm pretty sure I heard that the framework they want to use is now in place. This end and recently.

We don't here much about how they get here other than the boats. One of the TV channels interviewed one. The trip included smuggler provided transport even a stay for a while in a small airfield. The boats here are just an extension of previous methods that often used hidden people in HGV's. Even just full of them. They are organised internationally which does suggest there could be ways of disrupting them.

There are reports of changes in the EU. Much stronger controls on road routes into the area. I believe it has been delayed but may happen this time.

Thanks to the slashing German politics are making a lot of noises. The official lot are more realistic about solutions. More TBD. It's interesting that there is a concentration on the subject of Syrians and Afghans. Syria even has ISIS refugee camp(s). Both can qualify for asylum due to where they come from. It's more moslems from specific areas than purely a religious aspect. Afghans have been seen as our "friends" but obviously all can't come here.

 

[ajohn]

You could consult the official record instead of implying a rumour

They also neglect that the value of the euro was tinkered with after it was introduced. Market forces also came into play. Result a relatively stable currency - so far anyway.

Try and relate it to the olden days when countries bought their own currency if the value fell to try and maintain it is something of a joke. That area is exactly why we didn't join the euro at day one as far as we are concerned. It's what we and others needed to do. Being a semi reserve currency wouldn't help. This is very likely the reason for Brown saying no also the value of the GBP at the time.

 

[ReganAndCarter]

Perhaps SK read your repeated postings - about how the country is potless, and can't even look after "it's own" - and is just spreading your message to a wider audience?

Not sure about potless, maybe witless politicians. They've taken the heating allowance from pensioners, but somehow can afford to give £11.6 billion to African despots and dictators in overseas climate aid. Is it so they can convert their Mercedes limousines and private planes to battery power?

The only affect all this will have on lessening carbon emmissions is by pensioners alone in their bedsits unable to afford to put the heating on, so using less of those nasty fossil fuels.

Or is it just Lammy sending home a bit of money?

POLITICO Pro: Labour pledges billions in climate aid

Shadow Foreign Secretary David Lammy said a Labour government will honor a promise to deliver £11.6 billion by 2026 to countries hit by climate change.

subscriber.politicopro.com

 

[carmanmemoranda]

Not sure about potless, maybe witless politicians. They've taken the heating allowance from pensioners, but somehow can afford to give £11.6 billion to African despots and dictators in overseas climate aid. Is it so they can converts their Mercedes limousines and private planes to battery power.

The only affect all this will have on lessening carbon emmissions is by pensioners alone in their bedsits to able to afford to put the heating on, so using less of those nasty fossil fuels.

POLITICO Pro: Labour pledges billions in climate aid

Shadow Foreign Secretary David Lammy said a Labour government will honor a promise to deliver £11.6 billion by 2026 to countries hit by climate change.

subscriber.politicopro.com

You are aware its not being taken from all pensioners?

And of the amount?

Those in need, still qualify. Those just over the need, may (may not) struggle, but do you want to pay more tax to help out ?

 

[ReganAndCarter]

You are aware its not being taken from all pensioners?

And of the amount?

Those in need, still qualify. Those just over the need, may (may not) struggle, but do you want to pay more tax to help out ?

Those just above the pensions credit threshold will definitely suffer. They are by no means even comfortably off, let alone wealthy. Don't forget the only way is up for energy bills, especially with Labour's insatiable net zero obsession. Energy bills are already loaded with bogus tree-hugger taxes and levies, Labour will be adding more pain.

And no, I don't want to pay more tax. Did you miss the fact that we somehow have the necessary to fund pet projects and throw colossal amounts of taxpayers money into the foreign aid/third world bottomless pit?

Charity begins at home!

 

[denso13]

They've taken the heating allowance from pensioners

Mick and Elton will be ok.

 

[ReganAndCarter]

And as for global warming, this summer's been sh*t so far!