Budget has caused economy to stagnate, Bank of England says
Andrew Bailey downgrades growth forecasts and says businesses are cutting costs and raising prices after Rachel Reeves’s raid on employers’ NI
The Bank of England has warned that the economy is stagnating after Rachel Reeves’s budget as businesses have responded by raising prices and cutting jobs.
Andrew Bailey, governor of the Bank, said that there would be a gradual approach to cutting interest rates because of concerns over the impact of tax rises and a higher minimum wage.
Officials at the Bank downgraded their forecasts and said that they now expect “zero growth” in the final three months of 2024.
It's only 30 thousand a year he gets, but it seems a pretty clear conflict of interest to me. He should relinquish the pension upon joining the British diplomatic service.
Budget has caused economy to stagnate, Bank of England says
Andrew Bailey downgrades growth forecasts and says businesses are cutting costs and raising prices after Rachel Reeves’s raid on employers’ NI
The Bank of England has warned that the economy is stagnating after Rachel Reeves’s budget as businesses have responded by raising prices and cutting jobs.
Andrew Bailey, governor of the Bank, said that there would be a gradual approach to cutting interest rates because of concerns over the impact of tax rises and a higher minimum wage.
Officials at the Bank downgraded their forecasts and said that they now expect “zero growth” in the final three months of 2024.
"Borrowing – the difference between public sector spending and income – was £11.2 billion in November 2024, £3.4 billion less than in November 2023 and the lowest November borrowing for three years.
Current budget deficit – borrowing to fund day-to-day public sector activities – was £6.8 billion in November 2024, £3.5 billion less than in November 2023 and the lowest November current budget deficit for three years."
It's only 30 thousand a year he gets, but it seems a pretty clear conflict of interest to me. He should relinquish the pension upon joining the British diplomatic service.
It's a bit of antisemitic trope or two to accuse a Jewish man of having split loyalties and is being influenced by money.
"Borrowing – the difference between public sector spending and income – was £11.2 billion in November 2024, £3.4 billion less than in November 2023 and the lowest November borrowing for three years.
Current budget deficit – borrowing to fund day-to-day public sector activities – was £6.8 billion in November 2024, £3.5 billion less than in November 2023 and the lowest November current budget deficit for three years."
Just as well given the trajectory of borrowing costs and let's hope the forecasts for next year do not come to pass.
It's only 30 thousand a year he gets, but it seems a pretty clear conflict of interest to me. He should relinquish the pension upon joining the British diplomatic service.
It's a bit of antisemitic trope or two to accuse a Jewish man of having split loyalties and is being influenced by money.
I'm the first person to call out antisemitic tropes on here.
But to suggest Peter Mandelson has made a career out of split loyalties and being influenced by money is a pure statement of fact, regardless of his being Jewish.
On topic... barring some absolutely staggering scandal that's overpoweringly lurid even by the standards of these febrile times, the monarchy is going nowhere so this polling is irrelevant.
Chaz is in no position to do any scandals, staggering or otherwise, because he's basically just a tumour with a crown on top at this point.
The ScotNats need to regroup and refresh having missed their shot with Johnson and the descent into complacent decadence of the leadership of the SNP. That's probably at least a decade or more away but I sincerely wish them well in their liberation struggle.
FFS listening to Amol Rajan interviewing some bod from Southern Water and it’s the most ridiculous sort of torches and pitchforks type kill the monster interview ever. Instead of a sensible deep discussion about the problems in Hampshire and general issues you would think the poor chap being interviewed had personally decided to fuck up the water system and to start crying and begging forgiveness under the moral battering from Amol.
When did all journalists become such massive dickheads? Why are they so totally focussed on feels and moralising instead of facts and answers? I know I should stop listening but I’ve been listening for decades and it feels like a case of Today leaving me rather than me leaving Today.
I’m waiting for Emma Barnett to ask people from Hampshire to hone in with their stories about why they couldn’t shower yesterday is a sign of the continued oppression of WASPI women.
Budget has caused economy to stagnate, Bank of England says
Andrew Bailey downgrades growth forecasts and says businesses are cutting costs and raising prices after Rachel Reeves’s raid on employers’ NI
The Bank of England has warned that the economy is stagnating after Rachel Reeves’s budget as businesses have responded by raising prices and cutting jobs.
Andrew Bailey, governor of the Bank, said that there would be a gradual approach to cutting interest rates because of concerns over the impact of tax rises and a higher minimum wage.
Officials at the Bank downgraded their forecasts and said that they now expect “zero growth” in the final three months of 2024.
FFS listening to Amol Rajan interviewing some bod from Southern Water and it’s the most ridiculous sort of torches and pitchforks type kill the monster interview ever. Instead of a sensible deep discussion about the problems in Hampshire and general issues you would think the poor chap being interviewed had personally decided to fuck up the water system and to start crying and begging forgiveness under the moral battering from Amol.
When did all journalists become such massive dickheads? Why are they so totally focussed on feels and moralising instead of facts and answers? I know I should stop listening but I’ve been listening for decades and it feels like a case of Today leaving me rather than me leaving Today.
I’m waiting for Emma Barnett to ask people from Hampshire to hone in with their stories about why they couldn’t shower yesterday is a sign of the continued oppression of WASPI women.
Stopped listening years ago when it started becoming all "gotchas" and was less about informing people.
You have to wonder why anyone from a body like Southern Water even appear on such a show when the only aim of the excercise is to try to humiliate them.
FFS listening to Amol Rajan interviewing some bod from Southern Water and it’s the most ridiculous sort of torches and pitchforks type kill the monster interview ever. Instead of a sensible deep discussion about the problems in Hampshire and general issues you would think the poor chap being interviewed had personally decided to fuck up the water system and to start crying and begging forgiveness under the moral battering from Amol.
When did all journalists become such massive dickheads? Why are they so totally focussed on feels and moralising instead of facts and answers? I know I should stop listening but I’ve been listening for decades and it feels like a case of Today leaving me rather than me leaving Today.
I’m waiting for Emma Barnett to ask people from Hampshire to hone in with their stories about why they couldn’t shower yesterday is a sign of the continued oppression of WASPI women.
Maybe it’s just me, but Republicans having two daddies seems kind of woke
Trump and Musk are two small men who see themselves as giants. It's pathetic, really. But not as pathetic as those who seem to worship the two of them...
"Borrowing – the difference between public sector spending and income – was £11.2 billion in November 2024, £3.4 billion less than in November 2023 and the lowest November borrowing for three years.
Current budget deficit – borrowing to fund day-to-day public sector activities – was £6.8 billion in November 2024, £3.5 billion less than in November 2023 and the lowest November current budget deficit for three years."
Just as well given the trajectory of borrowing costs and let's hope the forecasts for next year do not come to pass.
Any idea what their track record is like? I would honestly have expected bond yields to fall next year as global interest rates continue to fall and the world economy teeters on recession given Trump's proposed policies. Their forecast is based on an "algorithm" which may be no more than a projection of very recent trends forward.
Budget has caused economy to stagnate, Bank of England says
Andrew Bailey downgrades growth forecasts and says businesses are cutting costs and raising prices after Rachel Reeves’s raid on employers’ NI
The Bank of England has warned that the economy is stagnating after Rachel Reeves’s budget as businesses have responded by raising prices and cutting jobs.
Andrew Bailey, governor of the Bank, said that there would be a gradual approach to cutting interest rates because of concerns over the impact of tax rises and a higher minimum wage.
Officials at the Bank downgraded their forecasts and said that they now expect “zero growth” in the final three months of 2024.
The "official" Christmas number one will be announced this afternoon and is based on sales and streams in the week up to midnight last night.
Very professional. A cut above the typical Joe effort, with a few political points scoring bits beyond simply being about WFA. And opaque in origin - if you GoFundMe who really is behind this?
I said last night that Labour's first few months have been well, well beyond the normal rough and tumble of politics - perhaps a new normal, but clearly different to what has gone before. That this type of (serious) skit exists is perfectly normal rough and tumble, it is just some of the bits round the edges that seem fishy and I wonder how the promotion of this within the algorithms has been achieved.
Maybe it’s just me, but Republicans having two daddies seems kind of woke
Trump and Musk are two small men who see themselves as giants. It's pathetic, really. But not as pathetic as those who seem to worship the two of them...
What's more interesting is which one is in charge...
Pretty good figures for independence in that polling, even before ditching the parasites.
The 2026 Holyrood elections are going to be Starmers first big electoral test. Despite recent years, surely the SNP are going to win a majority.
The SNP has long thought - probably correctly - that having a Tory government at Westminster was better for their Indy campaign - but for their own electoral prospects they will probably find they are better off with a Labour one. Had Sunak somehow got re-elected, Labour could easily have cleaned up in Scotland.
Pretty good figures for independence in that polling, even before ditching the parasites.
The 2026 Holyrood elections are going to be Starmers first big electoral test. Despite recent years, surely the SNP are going to win a majority.
Almost certainly not. The system is heavily weighted against majorities with the list system basically giving the losers a second chance. But they may well retain their plurality. At the moment Scottish politics is a race to the bottom with Labour, the SNP and the Tories all vying for the lead. Hence the comparatively rapid growth of Reform.
FFS listening to Amol Rajan interviewing some bod from Southern Water and it’s the most ridiculous sort of torches and pitchforks type kill the monster interview ever. Instead of a sensible deep discussion about the problems in Hampshire and general issues you would think the poor chap being interviewed had personally decided to fuck up the water system and to start crying and begging forgiveness under the moral battering from Amol.
When did all journalists become such massive dickheads? Why are they so totally focussed on feels and moralising instead of facts and answers? I know I should stop listening but I’ve been listening for decades and it feels like a case of Today leaving me rather than me leaving Today.
I’m waiting for Emma Barnett to ask people from Hampshire to hone in with their stories about why they couldn’t shower yesterday is a sign of the continued oppression of WASPI women.
Yes, that Southern Water. But the guy who came on didn’t arrange the pricing or mess up the company, he was a technical chap on about the Hampshire mess and by trying to make him feel bad about all the world’s problems the actual details and facts were lost in some mad moralistic shaming.
It was just absolutely ridiculous. Listen to it and tell me it wasn’t just “feels” journalism rather than, let’s get someone on and get the facts and answers. The journalists don’t need to be outraged for people, people can do that themselves, they are there to get information not judgement.
Pretty good figures for independence in that polling, even before ditching the parasites.
The 2026 Holyrood elections are going to be Starmers first big electoral test. Despite recent years, surely the SNP are going to win a majority.
Almost certainly not. The system is heavily weighted against majorities with the list system basically giving the losers a second chance. But they may well retain their plurality. At the moment Scottish politics is a race to the bottom with Labour, the SNP and the Tories all vying for the lead. Hence the comparatively rapid growth of Reform.
I am sure that you know the detail better, but for years the SNP set itself up as the opposition to the English Tories at Westminster, and now can feast on anti-Starmer sentiment too.
Despite the absolute car crash of the SNP government in recent years they will lead the next government surely.
FFS listening to Amol Rajan interviewing some bod from Southern Water and it’s the most ridiculous sort of torches and pitchforks type kill the monster interview ever. Instead of a sensible deep discussion about the problems in Hampshire and general issues you would think the poor chap being interviewed had personally decided to fuck up the water system and to start crying and begging forgiveness under the moral battering from Amol.
When did all journalists become such massive dickheads? Why are they so totally focussed on feels and moralising instead of facts and answers? I know I should stop listening but I’ve been listening for decades and it feels like a case of Today leaving me rather than me leaving Today.
I’m waiting for Emma Barnett to ask people from Hampshire to hone in with their stories about why they couldn’t shower yesterday is a sign of the continued oppression of WASPI women.
Given the corporate bullshit spin the management of water companies subject us to, a mild roasting on R4 is entirely deserved. A more forensic grilling would of course be better, but I'm shedding few tears for the "poor chap".
A very good figure for Yes, but the same poll gives a big lead for Unionist parties over Nationalist ones, suggesting it’s just one of those odd results that comes up occasionally.
Pretty good figures for independence in that polling, even before ditching the parasites.
The 2026 Holyrood elections are going to be Starmers first big electoral test. Despite recent years, surely the SNP are going to win a majority.
Almost certainly not. The system is heavily weighted against majorities with the list system basically giving the losers a second chance. But they may well retain their plurality. At the moment Scottish politics is a race to the bottom with Labour, the SNP and the Tories all vying for the lead. Hence the comparatively rapid growth of Reform.
I am sure that you know the detail better, but for years the SNP set itself up as the opposition to the English Tories at Westminster, and now can feast on anti-Starmer sentiment too.
Despite the absolute car crash of the SNP government in recent years they will lead the next government surely.
The tone is very different now. Different people in charge. Much more bank manager vibe than social justice warrior.
Pretty good figures for independence in that polling, even before ditching the parasites.
The 2026 Holyrood elections are going to be Starmers first big electoral test. Despite recent years, surely the SNP are going to win a majority.
Almost certainly not. The system is heavily weighted against majorities with the list system basically giving the losers a second chance. But they may well retain their plurality. At the moment Scottish politics is a race to the bottom with Labour, the SNP and the Tories all vying for the lead. Hence the comparatively rapid growth of Reform.
I am sure that you know the detail better, but for years the SNP set itself up as the opposition to the English Tories at Westminster, and now can feast on anti-Starmer sentiment too.
Despite the absolute car crash of the SNP government in recent years they will lead the next government surely.
Oh they may well do but not with a majority. They will struggle to get a majority even with their little green helpers.
Scottish politics makes UK politics look good right now.
Reform will surge in Scotland just as they are in Wales and northern England. The populist wave is still growing, it is only now just crashing over Hadrian’s Wall
"Borrowing – the difference between public sector spending and income – was £11.2 billion in November 2024, £3.4 billion less than in November 2023 and the lowest November borrowing for three years.
Current budget deficit – borrowing to fund day-to-day public sector activities – was £6.8 billion in November 2024, £3.5 billion less than in November 2023 and the lowest November current budget deficit for three years."
Just as well given the trajectory of borrowing costs and let's hope the forecasts for next year do not come to pass.
Any idea what their track record is like? I would honestly have expected bond yields to fall next year as global interest rates continue to fall and the world economy teeters on recession given Trump's proposed policies. Their forecast is based on an "algorithm" which may be no more than a projection of very recent trends forward.
I think they are just an aggregator who pull data from other sites. Trading Economics is forecasting 4.35% in 12 months time.
Same here but will global interest rates continue to fall given the inflationary pressures.
The fed is alot more hawkish after the meeting this week.
Maybe it’s just me, but Republicans having two daddies seems kind of woke
Trump and Musk are two small men who see themselves as giants. It's pathetic, really. But not as pathetic as those who seem to worship the two of them...
What's more interesting is which one is in charge...
I believe AI images merit a ban. If that has been changed - great! Can the mods tell us?
NB: I don’t want you banned. I just want to know the rules
Budget has caused economy to stagnate, Bank of England says
Andrew Bailey downgrades growth forecasts and says businesses are cutting costs and raising prices after Rachel Reeves’s raid on employers’ NI
The Bank of England has warned that the economy is stagnating after Rachel Reeves’s budget as businesses have responded by raising prices and cutting jobs.
Andrew Bailey, governor of the Bank, said that there would be a gradual approach to cutting interest rates because of concerns over the impact of tax rises and a higher minimum wage.
Officials at the Bank downgraded their forecasts and said that they now expect “zero growth” in the final three months of 2024.
A very good figure for Yes, but the same poll gives a big lead for Unionist parties over Nationalist ones, suggesting it’s just one of those odd results that comes up occasionally.
Surely just shows that these parties are less unionists at the grassroots than their leadership is?
Maybe it’s just me, but Republicans having two daddies seems kind of woke
Trump and Musk are two small men who see themselves as giants. It's pathetic, really. But not as pathetic as those who seem to worship the two of them...
What's more interesting is which one is in charge...
I believe AI images merit a ban. If that has been changed - great! Can the mods tell us?
NB: I don’t want you banned. I just want to know the rules
Yes, you can tell it's fake, as Trump can't stand up as straight as that.
Pretty good figures for independence in that polling, even before ditching the parasites.
The 2026 Holyrood elections are going to be Starmers first big electoral test. Despite recent years, surely the SNP are going to win a majority.
Almost certainly not. The system is heavily weighted against majorities with the list system basically giving the losers a second chance. But they may well retain their plurality. At the moment Scottish politics is a race to the bottom with Labour, the SNP and the Tories all vying for the lead. Hence the comparatively rapid growth of Reform.
I am sure that you know the detail better, but for years the SNP set itself up as the opposition to the English Tories at Westminster, and now can feast on anti-Starmer sentiment too.
Despite the absolute car crash of the SNP government in recent years they will lead the next government surely.
Oh they may well do but not with a majority. They will struggle to get a majority even with their little green helpers.
Scottish politics makes UK politics look good right now.
There won't be any little Green helpers - their vote always collapses when the hard left vote falls off slightly
On topic, the Royals are just another thing to be added to the growing pile of stuff that makes the average Scot think what the fuck has this got to do with me.
Some others (not a definitive list):
Brexit The Tory party Small boats Farage The triumphs and tribulations of the English cricket team The triumphs and tribulations of the English football team The triumphs and tribulations of the English rugby team (See also the women’s versions of these and whatever stupid name the marketing guys have come up with for them) The nonce-tolerant Church of England The House of Lords Eastenders The sewage ridden waterways of England HS2 England’s energy poverty GAVIN AND FCKNG STACEY
All of these topics are of course extensively and endlessly amplified by the state broadcaster. Only this morning I’ve learned via several news bulletins that Wills & Kate did not attend the traditional pre Christmas lunch at the Palace.
Reform will surge in Scotland just as they are in Wales and northern England. The populist wave is still growing, it is only now just crashing over Hadrian’s Wall
"Borrowing – the difference between public sector spending and income – was £11.2 billion in November 2024, £3.4 billion less than in November 2023 and the lowest November borrowing for three years.
Current budget deficit – borrowing to fund day-to-day public sector activities – was £6.8 billion in November 2024, £3.5 billion less than in November 2023 and the lowest November current budget deficit for three years."
Just as well given the trajectory of borrowing costs and let's hope the forecasts for next year do not come to pass.
Any idea what their track record is like? I would honestly have expected bond yields to fall next year as global interest rates continue to fall and the world economy teeters on recession given Trump's proposed policies. Their forecast is based on an "algorithm" which may be no more than a projection of very recent trends forward.
I think they are just an aggregator who pull data from other sites. Trading Economics is forecasting 4.35% in 12 months time.
Same here but will global interest rates continue to fall given the inflationary pressures.
The fed is alot more hawkish after the meeting this week.
While clearly it will take some time for people to adapt, the return of positive real interest rates is a good thing. We have had 15 years of effective negative interest rates that penalise savers and those buying annuities with their pension pots.
Low interest rates are not a a good thing for everyone.
Reform will surge in Scotland just as they are in Wales and northern England. The populist wave is still growing, it is only now just crashing over Hadrian’s Wall
Its more a case that the SNP, Labour and the Tories are all utter arseholes the Lib Dems are just too boring for words and the Greens are batshit insane. If you are asked for a voting preference in Scotland these days you are scratching around a bit.
On topic, the Royals are just another thing to be added to the growing pile of stuff that makes the average Scot think what the fuck has this got to do with me.
Some others (not a definitive list):
Brexit The Tory party Small boats Farage The triumphs and tribulations of the English cricket team The triumphs and tribulations of the English football team The triumphs and tribulations of the English rugby team (See also the women’s versions of these and whatever stupid name the marketing guys have come up with for them) The nonce-tolerant Church of England The House of Lords Eastenders The sewage ridden waterways of England HS2 England’s energy poverty GAVIN AND FCKNG STACEY
All of these topics are of course extensively and endlessly amplified by the state broadcaster. Only this morning I’ve learned via several news bulletins that Wills & Kate did not attend the traditional pre Christmas lunch at the Palace.
To be fair, most of those are irrelevant south of the border. I mean, who watches Eastenders or has a Tory MP anymore?
On topic, the Royals are just another thing to be added to the growing pile of stuff that makes the average Scot think what the fuck has this got to do with me.
Some others (not a definitive list):
Brexit The Tory party Small boats Farage The triumphs and tribulations of the English cricket team The triumphs and tribulations of the English football team The triumphs and tribulations of the English rugby team (See also the women’s versions of these and whatever stupid name the marketing guys have come up with for them) The nonce-tolerant Church of England The House of Lords Eastenders The sewage ridden waterways of England HS2 England’s energy poverty GAVIN AND FCKNG STACEY
All of these topics are of course extensively and endlessly amplified by the state broadcaster. Only this morning I’ve learned via several news bulletins that Wills & Kate did not attend the traditional pre Christmas lunch at the Palace.
I haven’t regularly watched or listened to BBC news in YEARS. Why the fuck are you?
It’s mildly Woke pap aimed at low-watt morons
And despite our many stramashes I’ve never seen you as dumb; quite the opposite
Budget has caused economy to stagnate, Bank of England says
Andrew Bailey downgrades growth forecasts and says businesses are cutting costs and raising prices after Rachel Reeves’s raid on employers’ NI
The Bank of England has warned that the economy is stagnating after Rachel Reeves’s budget as businesses have responded by raising prices and cutting jobs.
Andrew Bailey, governor of the Bank, said that there would be a gradual approach to cutting interest rates because of concerns over the impact of tax rises and a higher minimum wage.
Officials at the Bank downgraded their forecasts and said that they now expect “zero growth” in the final three months of 2024.
UK car production fell to the lowest level since 1980 last month. The economy faces headwinds well beyond those generated by the dismal budget.
The headwinds are, by and large, not the government's fault. Their response to them is. Reeves said before the election that every policy would be tested against the criteria of whether it was good for growth. And then did the opposite. I think she is going to drive us into a mild technical recession which will make the terrible state of the public books (despite today's modest improvement on the month) even worse.
Pretty good figures for independence in that polling, even before ditching the parasites.
The 2026 Holyrood elections are going to be Starmers first big electoral test. Despite recent years, surely the SNP are going to win a majority.
Almost certainly not. The system is heavily weighted against majorities with the list system basically giving the losers a second chance. But they may well retain their plurality. At the moment Scottish politics is a race to the bottom with Labour, the SNP and the Tories all vying for the lead. Hence the comparatively rapid growth of Reform.
I am sure that you know the detail better, but for years the SNP set itself up as the opposition to the English Tories at Westminster, and now can feast on anti-Starmer sentiment too.
Despite the absolute car crash of the SNP government in recent years they will lead the next government surely.
At the moment, also, Anas Sarwar and Jackie Baillie almost seem to be positioning Slab as anti-SKS Labour.
But remember that - unlike the Tories and LDs - there *is no separate Scottish Labour Party*: it's only a loophole in electoral law, deliberately inserted by a Labour administration, that allows them to claim they are on the ballot paper. And in any case pensions are a strictly reserved matter, so none of their business as MSPs - even if it is as Party members. How much of this is also deliberate obfuscation and an attempt to mislead the voters remains to be seen.
Reform will surge in Scotland just as they are in Wales and northern England. The populist wave is still growing, it is only now just crashing over Hadrian’s Wall
"Borrowing – the difference between public sector spending and income – was £11.2 billion in November 2024, £3.4 billion less than in November 2023 and the lowest November borrowing for three years.
Current budget deficit – borrowing to fund day-to-day public sector activities – was £6.8 billion in November 2024, £3.5 billion less than in November 2023 and the lowest November current budget deficit for three years."
Just as well given the trajectory of borrowing costs and let's hope the forecasts for next year do not come to pass.
Any idea what their track record is like? I would honestly have expected bond yields to fall next year as global interest rates continue to fall and the world economy teeters on recession given Trump's proposed policies. Their forecast is based on an "algorithm" which may be no more than a projection of very recent trends forward.
I think they are just an aggregator who pull data from other sites. Trading Economics is forecasting 4.35% in 12 months time.
Same here but will global interest rates continue to fall given the inflationary pressures.
The fed is alot more hawkish after the meeting this week.
While clearly it will take some time for people to adapt, the return of positive real interest rates is a good thing. We have had 15 years of effective negative interest rates that penalise savers and those buying annuities with their pension pots.
Low interest rates are not a a good thing for everyone.
Because savers and those with pension pots are the priority of course
The US House of Representatives has voted against a Donald Trump-backed funding measure, bringing a government shutdown this weekend a step closer.
A revised spending plan failed to reach the two-thirds majority needed in the lower chamber of Congress, with 38 Republicans voting against the bill on Thursday night, defying the president-elect.
Budget has caused economy to stagnate, Bank of England says
Andrew Bailey downgrades growth forecasts and says businesses are cutting costs and raising prices after Rachel Reeves’s raid on employers’ NI
The Bank of England has warned that the economy is stagnating after Rachel Reeves’s budget as businesses have responded by raising prices and cutting jobs.
Andrew Bailey, governor of the Bank, said that there would be a gradual approach to cutting interest rates because of concerns over the impact of tax rises and a higher minimum wage.
Officials at the Bank downgraded their forecasts and said that they now expect “zero growth” in the final three months of 2024.
UK car production fell to the lowest level since 1980 last month. The economy faces headwinds well beyond those generated by the dismal budget.
The UK only has 3.5 volume manufacturers who are all facing headwinds. JLR LOL. Nissan, right in the shit with a mediocre product line, only redemeed by a very effective dealer network. Mini, moved the brand up a segment where competition is stiffer and don't make the BEV models in the UK. Stellantis might get off their deathbed in the UK if their BEV vans are cheap enough - product quality being utterly irrelevant in that segment.
Traded the M1000RR for a Bimota KB988. Bought a rusty E30 318is for its minty interior that's going in my S54 engined Bauer E30. All the lambda sensors on the Tributo are dead. That's my fleet update.
On topic, the Royals are just another thing to be added to the growing pile of stuff that makes the average Scot think what the fuck has this got to do with me.
Some others (not a definitive list):
Brexit The Tory party Small boats Farage The triumphs and tribulations of the English cricket team The triumphs and tribulations of the English football team The triumphs and tribulations of the English rugby team (See also the women’s versions of these and whatever stupid name the marketing guys have come up with for them) The nonce-tolerant Church of England The House of Lords Eastenders The sewage ridden waterways of England HS2 England’s energy poverty GAVIN AND FCKNG STACEY
All of these topics are of course extensively and endlessly amplified by the state broadcaster. Only this morning I’ve learned via several news bulletins that Wills & Kate did not attend the traditional pre Christmas lunch at the Palace.
To be fair, most of those are irrelevant south of the border. I mean, who watches Eastenders or has a Tory MP anymore?
But have a look at PB passim. With the possible exception of Eastenders, and the addition of London Underground's naming schemes, electric jamjars, and some industrial archaeology other than HS2, it's actually quite an accurate synopsis of perennial obsessions.
Pretty good figures for independence in that polling, even before ditching the parasites.
The 2026 Holyrood elections are going to be Starmers first big electoral test. Despite recent years, surely the SNP are going to win a majority.
Almost certainly not. The system is heavily weighted against majorities with the list system basically giving the losers a second chance. But they may well retain their plurality. At the moment Scottish politics is a race to the bottom with Labour, the SNP and the Tories all vying for the lead. Hence the comparatively rapid growth of Reform.
I am sure that you know the detail better, but for years the SNP set itself up as the opposition to the English Tories at Westminster, and now can feast on anti-Starmer sentiment too.
Despite the absolute car crash of the SNP government in recent years they will lead the next government surely.
Oh they may well do but not with a majority. They will struggle to get a majority even with their little green helpers.
Scottish politics makes UK politics look good right now.
There won't be any little Green helpers - their vote always collapses when the hard left vote falls off slightly
On topic, the Royals are just another thing to be added to the growing pile of stuff that makes the average Scot think what the fuck has this got to do with me.
Some others (not a definitive list):
Brexit The Tory party Small boats Farage The triumphs and tribulations of the English cricket team The triumphs and tribulations of the English football team The triumphs and tribulations of the English rugby team (See also the women’s versions of these and whatever stupid name the marketing guys have come up with for them) The nonce-tolerant Church of England The House of Lords Eastenders The sewage ridden waterways of England HS2 England’s energy poverty GAVIN AND FCKNG STACEY
All of these topics are of course extensively and endlessly amplified by the state broadcaster. Only this morning I’ve learned via several news bulletins that Wills & Kate did not attend the traditional pre Christmas lunch at the Palace.
I haven’t regularly watched or listened to BBC news in YEARS. Why the fuck are you?
It’s mildly Woke pap aimed at low-watt morons
And despite our many stramashes I’ve never seen you as dumb; quite the opposite
It was more damaging for the EU than the UK. The loss of UK pragmatism and liberalism has led directly to the EU’s self defeating regulatory bonanza, destroying innovation and crushing flexibility
"Borrowing – the difference between public sector spending and income – was £11.2 billion in November 2024, £3.4 billion less than in November 2023 and the lowest November borrowing for three years.
Current budget deficit – borrowing to fund day-to-day public sector activities – was £6.8 billion in November 2024, £3.5 billion less than in November 2023 and the lowest November current budget deficit for three years."
Just as well given the trajectory of borrowing costs and let's hope the forecasts for next year do not come to pass.
Any idea what their track record is like? I would honestly have expected bond yields to fall next year as global interest rates continue to fall and the world economy teeters on recession given Trump's proposed policies. Their forecast is based on an "algorithm" which may be no more than a projection of very recent trends forward.
I think they are just an aggregator who pull data from other sites. Trading Economics is forecasting 4.35% in 12 months time.
Same here but will global interest rates continue to fall given the inflationary pressures.
The fed is alot more hawkish after the meeting this week.
While clearly it will take some time for people to adapt, the return of positive real interest rates is a good thing. We have had 15 years of effective negative interest rates that penalise savers and those buying annuities with their pension pots.
Low interest rates are not a a good thing for everyone.
Savers have the option of investing in something other than cash if they want higher returns.
On topic, the Royals are just another thing to be added to the growing pile of stuff that makes the average Scot think what the fuck has this got to do with me.
Some others (not a definitive list):
Brexit The Tory party Small boats Farage The triumphs and tribulations of the English cricket team The triumphs and tribulations of the English football team The triumphs and tribulations of the English rugby team (See also the women’s versions of these and whatever stupid name the marketing guys have come up with for them) The nonce-tolerant Church of England The House of Lords Eastenders The sewage ridden waterways of England HS2 England’s energy poverty GAVIN AND FCKNG STACEY
All of these topics are of course extensively and endlessly amplified by the state broadcaster. Only this morning I’ve learned via several news bulletins that Wills & Kate did not attend the traditional pre Christmas lunch at the Palace.
I haven’t regularly watched or listened to BBC news in YEARS. Why the fuck are you?
It’s mildly Woke pap aimed at low-watt morons
And despite our many stramashes I’ve never seen you as dumb; quite the opposite
On topic, the Royals are just another thing to be added to the growing pile of stuff that makes the average Scot think what the fuck has this got to do with me.
Some others (not a definitive list):
Brexit The Tory party Small boats Farage The triumphs and tribulations of the English cricket team The triumphs and tribulations of the English football team The triumphs and tribulations of the English rugby team (See also the women’s versions of these and whatever stupid name the marketing guys have come up with for them) The nonce-tolerant Church of England The House of Lords Eastenders The sewage ridden waterways of England HS2 England’s energy poverty GAVIN AND FCKNG STACEY
All of these topics are of course extensively and endlessly amplified by the state broadcaster. Only this morning I’ve learned via several news bulletins that Wills & Kate did not attend the traditional pre Christmas lunch at the Palace.
I haven’t regularly watched or listened to BBC news in YEARS. Why the fuck are you?
It’s mildly Woke pap aimed at low-watt morons
And despite our many stramashes I’ve never seen you as dumb; quite the opposite
"Borrowing – the difference between public sector spending and income – was £11.2 billion in November 2024, £3.4 billion less than in November 2023 and the lowest November borrowing for three years.
Current budget deficit – borrowing to fund day-to-day public sector activities – was £6.8 billion in November 2024, £3.5 billion less than in November 2023 and the lowest November current budget deficit for three years."
Just as well given the trajectory of borrowing costs and let's hope the forecasts for next year do not come to pass.
Any idea what their track record is like? I would honestly have expected bond yields to fall next year as global interest rates continue to fall and the world economy teeters on recession given Trump's proposed policies. Their forecast is based on an "algorithm" which may be no more than a projection of very recent trends forward.
I think they are just an aggregator who pull data from other sites. Trading Economics is forecasting 4.35% in 12 months time.
Same here but will global interest rates continue to fall given the inflationary pressures.
The fed is alot more hawkish after the meeting this week.
While clearly it will take some time for people to adapt, the return of positive real interest rates is a good thing. We have had 15 years of effective negative interest rates that penalise savers and those buying annuities with their pension pots.
Low interest rates are not a a good thing for everyone.
Because savers and those with pension pots are the priority of course
Negative interest rates inflate asset prices, keep zombie companies alive, and encourage consumption at the expense of saving. Foxy is correct.
"Borrowing – the difference between public sector spending and income – was £11.2 billion in November 2024, £3.4 billion less than in November 2023 and the lowest November borrowing for three years.
Current budget deficit – borrowing to fund day-to-day public sector activities – was £6.8 billion in November 2024, £3.5 billion less than in November 2023 and the lowest November current budget deficit for three years."
Just as well given the trajectory of borrowing costs and let's hope the forecasts for next year do not come to pass.
Any idea what their track record is like? I would honestly have expected bond yields to fall next year as global interest rates continue to fall and the world economy teeters on recession given Trump's proposed policies. Their forecast is based on an "algorithm" which may be no more than a projection of very recent trends forward.
I think they are just an aggregator who pull data from other sites. Trading Economics is forecasting 4.35% in 12 months time.
Same here but will global interest rates continue to fall given the inflationary pressures.
The fed is alot more hawkish after the meeting this week.
While clearly it will take some time for people to adapt, the return of positive real interest rates is a good thing. We have had 15 years of effective negative interest rates that penalise savers and those buying annuities with their pension pots.
Low interest rates are not a a good thing for everyone.
Savers have the option of investing in something other than cash if they want higher returns.
On topic, the Royals are just another thing to be added to the growing pile of stuff that makes the average Scot think what the fuck has this got to do with me.
Some others (not a definitive list):
Brexit The Tory party Small boats Farage The triumphs and tribulations of the English cricket team The triumphs and tribulations of the English football team The triumphs and tribulations of the English rugby team (See also the women’s versions of these and whatever stupid name the marketing guys have come up with for them) The nonce-tolerant Church of England The House of Lords Eastenders The sewage ridden waterways of England HS2 England’s energy poverty GAVIN AND FCKNG STACEY
All of these topics are of course extensively and endlessly amplified by the state broadcaster. Only this morning I’ve learned via several news bulletins that Wills & Kate did not attend the traditional pre Christmas lunch at the Palace.
To be fair, most of those are irrelevant south of the border. I mean, who watches Eastenders or has a Tory MP anymore?
But have a look at PB passim. With the possible exception of Eastenders, and the addition of London Underground's naming schemes, electric jamjars, and some industrial archaeology other than HS2, it's actually quite an accurate synopsis of perennial obsessions.
Not sure it is these days. We all live in our personalised bubbles.
The algorithm filters it out, unless of course it amplifies the rage. Perhaps you see more of this stuff north of the border precisely because it pisses you off.
"Borrowing – the difference between public sector spending and income – was £11.2 billion in November 2024, £3.4 billion less than in November 2023 and the lowest November borrowing for three years.
Current budget deficit – borrowing to fund day-to-day public sector activities – was £6.8 billion in November 2024, £3.5 billion less than in November 2023 and the lowest November current budget deficit for three years."
Just as well given the trajectory of borrowing costs and let's hope the forecasts for next year do not come to pass.
Any idea what their track record is like? I would honestly have expected bond yields to fall next year as global interest rates continue to fall and the world economy teeters on recession given Trump's proposed policies. Their forecast is based on an "algorithm" which may be no more than a projection of very recent trends forward.
I think they are just an aggregator who pull data from other sites. Trading Economics is forecasting 4.35% in 12 months time.
Same here but will global interest rates continue to fall given the inflationary pressures.
The fed is alot more hawkish after the meeting this week.
While clearly it will take some time for people to adapt, the return of positive real interest rates is a good thing. We have had 15 years of effective negative interest rates that penalise savers and those buying annuities with their pension pots.
Low interest rates are not a a good thing for everyone.
Because savers and those with pension pots are the priority of course
It's just a return to historic norm. It's the last 15 years that have been the aberration.
Savers should get a real return, and the return of decent annuity rates are a good thing for pension schemes.
More saving and less consumption is good for the country and the planet.
It was more damaging for the EU than the UK. The loss of UK pragmatism and liberalism has led directly to the EU’s self defeating regulatory bonanza, destroying innovation and crushing flexibility
I think the real foreign winner from Brexit was ultimately Ukraine.
Brexit (eventually) brought Boris to power, and he was Ukraine's biggest major supporter at the critical time of the war.
It's a counterfactual of course I can't see Cameron or Osborne or whoever rallying the free world as well as Boris did in the first year of the war, especially given how they acquiesced in Europe's spinelessness after the first invasion in 2014.
Anyway, as Starmer has shown in the last six months, we don't need the EU - we're more than capable of destroying innovation and crushing flexibility on our own.
"Borrowing – the difference between public sector spending and income – was £11.2 billion in November 2024, £3.4 billion less than in November 2023 and the lowest November borrowing for three years.
Current budget deficit – borrowing to fund day-to-day public sector activities – was £6.8 billion in November 2024, £3.5 billion less than in November 2023 and the lowest November current budget deficit for three years."
Just as well given the trajectory of borrowing costs and let's hope the forecasts for next year do not come to pass.
Any idea what their track record is like? I would honestly have expected bond yields to fall next year as global interest rates continue to fall and the world economy teeters on recession given Trump's proposed policies. Their forecast is based on an "algorithm" which may be no more than a projection of very recent trends forward.
I think they are just an aggregator who pull data from other sites. Trading Economics is forecasting 4.35% in 12 months time.
Same here but will global interest rates continue to fall given the inflationary pressures.
The fed is alot more hawkish after the meeting this week.
While clearly it will take some time for people to adapt, the return of positive real interest rates is a good thing. We have had 15 years of effective negative interest rates that penalise savers and those buying annuities with their pension pots.
Low interest rates are not a a good thing for everyone.
Savers have the option of investing in something other than cash if they want higher returns.
Which leads to asset bubbles, especially in housing.
On topic, the Royals are just another thing to be added to the growing pile of stuff that makes the average Scot think what the fuck has this got to do with me.
Some others (not a definitive list):
Brexit The Tory party Small boats Farage The triumphs and tribulations of the English cricket team The triumphs and tribulations of the English football team The triumphs and tribulations of the English rugby team (See also the women’s versions of these and whatever stupid name the marketing guys have come up with for them) The nonce-tolerant Church of England The House of Lords Eastenders The sewage ridden waterways of England HS2 England’s energy poverty GAVIN AND FCKNG STACEY
All of these topics are of course extensively and endlessly amplified by the state broadcaster. Only this morning I’ve learned via several news bulletins that Wills & Kate did not attend the traditional pre Christmas lunch at the Palace.
To be fair, most of those are irrelevant south of the border. I mean, who watches Eastenders or has a Tory MP anymore?
But have a look at PB passim. With the possible exception of Eastenders, and the addition of London Underground's naming schemes, electric jamjars, and some industrial archaeology other than HS2, it's actually quite an accurate synopsis of perennial obsessions.
Not sure it is these days. We all live in our personalised bubbles.
The algorithm filters it out, unless of course it amplifies the rage. Perhaps you see more of this stuff north of the border precisely because it pisses you off.
Not if one doesn't use social media with filter algorithms. I certainly don't.
On topic, the Royals are just another thing to be added to the growing pile of stuff that makes the average Scot think what the fuck has this got to do with me.
Some others (not a definitive list):
Brexit The Tory party Small boats Farage The triumphs and tribulations of the English cricket team The triumphs and tribulations of the English football team The triumphs and tribulations of the English rugby team (See also the women’s versions of these and whatever stupid name the marketing guys have come up with for them) The nonce-tolerant Church of England The House of Lords Eastenders The sewage ridden waterways of England HS2 England’s energy poverty GAVIN AND FCKNG STACEY
All of these topics are of course extensively and endlessly amplified by the state broadcaster. Only this morning I’ve learned via several news bulletins that Wills & Kate did not attend the traditional pre Christmas lunch at the Palace.
To be fair, most of those are irrelevant south of the border. I mean, who watches Eastenders or has a Tory MP anymore?
But have a look at PB passim. With the possible exception of Eastenders, and the addition of London Underground's naming schemes, electric jamjars, and some industrial archaeology other than HS2, it's actually quite an accurate synopsis of perennial obsessions.
Not sure it is these days. We all live in our personalised bubbles.
The algorithm filters it out, unless of course it amplifies the rage. Perhaps you see more of this stuff north of the border precisely because it pisses you off.
Not if one doesn't use social media with filter algorithms. I certainly don't.
Alas you can’t escape, where do you think journalists, politicians and folks on PB and in the pub get their material. We are all slaves to the algorithm
"Borrowing – the difference between public sector spending and income – was £11.2 billion in November 2024, £3.4 billion less than in November 2023 and the lowest November borrowing for three years.
Current budget deficit – borrowing to fund day-to-day public sector activities – was £6.8 billion in November 2024, £3.5 billion less than in November 2023 and the lowest November current budget deficit for three years."
Just as well given the trajectory of borrowing costs and let's hope the forecasts for next year do not come to pass.
Any idea what their track record is like? I would honestly have expected bond yields to fall next year as global interest rates continue to fall and the world economy teeters on recession given Trump's proposed policies. Their forecast is based on an "algorithm" which may be no more than a projection of very recent trends forward.
I think they are just an aggregator who pull data from other sites. Trading Economics is forecasting 4.35% in 12 months time.
Same here but will global interest rates continue to fall given the inflationary pressures.
The fed is alot more hawkish after the meeting this week.
While clearly it will take some time for people to adapt, the return of positive real interest rates is a good thing. We have had 15 years of effective negative interest rates that penalise savers and those buying annuities with their pension pots.
Low interest rates are not a a good thing for everyone.
Because savers and those with pension pots are the priority of course
It's just a return to historic norm. It's the last 15 years that have been the aberration.
Savers should get a real return, and the return of decent annuity rates are a good thing for pension schemes.
More saving and less consumption is good for the country and the planet.
On topic, the Royals are just another thing to be added to the growing pile of stuff that makes the average Scot think what the fuck has this got to do with me.
Some others (not a definitive list):
Brexit The Tory party Small boats Farage The triumphs and tribulations of the English cricket team The triumphs and tribulations of the English football team The triumphs and tribulations of the English rugby team (See also the women’s versions of these and whatever stupid name the marketing guys have come up with for them) The nonce-tolerant Church of England The House of Lords Eastenders The sewage ridden waterways of England HS2 England’s energy poverty GAVIN AND FCKNG STACEY
All of these topics are of course extensively and endlessly amplified by the state broadcaster. Only this morning I’ve learned via several news bulletins that Wills & Kate did not attend the traditional pre Christmas lunch at the Palace.
To be fair, most of those are irrelevant south of the border. I mean, who watches Eastenders or has a Tory MP anymore?
But have a look at PB passim. With the possible exception of Eastenders, and the addition of London Underground's naming schemes, electric jamjars, and some industrial archaeology other than HS2, it's actually quite an accurate synopsis of perennial obsessions.
Not sure it is these days. We all live in our personalised bubbles.
The algorithm filters it out, unless of course it amplifies the rage. Perhaps you see more of this stuff north of the border precisely because it pisses you off.
Not if one doesn't use social media with filter algorithms. I certainly don't.
Alas you can’t escape, where do you think journalists, politicians and folks on PB and in the pub their material. We are all slaves to the algorithm
"Borrowing – the difference between public sector spending and income – was £11.2 billion in November 2024, £3.4 billion less than in November 2023 and the lowest November borrowing for three years.
Current budget deficit – borrowing to fund day-to-day public sector activities – was £6.8 billion in November 2024, £3.5 billion less than in November 2023 and the lowest November current budget deficit for three years."
Just as well given the trajectory of borrowing costs and let's hope the forecasts for next year do not come to pass.
Any idea what their track record is like? I would honestly have expected bond yields to fall next year as global interest rates continue to fall and the world economy teeters on recession given Trump's proposed policies. Their forecast is based on an "algorithm" which may be no more than a projection of very recent trends forward.
I think they are just an aggregator who pull data from other sites. Trading Economics is forecasting 4.35% in 12 months time.
Same here but will global interest rates continue to fall given the inflationary pressures.
The fed is alot more hawkish after the meeting this week.
While clearly it will take some time for people to adapt, the return of positive real interest rates is a good thing. We have had 15 years of effective negative interest rates that penalise savers and those buying annuities with their pension pots.
Low interest rates are not a a good thing for everyone.
Savers have the option of investing in something other than cash if they want higher returns.
Which leads to asset bubbles, especially in housing.
Housing prices are not coming down despite higher interest rates. I wonder why?
On topic, the Royals are just another thing to be added to the growing pile of stuff that makes the average Scot think what the fuck has this got to do with me.
Some others (not a definitive list):
Brexit The Tory party Small boats Farage The triumphs and tribulations of the English cricket team The triumphs and tribulations of the English football team The triumphs and tribulations of the English rugby team (See also the women’s versions of these and whatever stupid name the marketing guys have come up with for them) The nonce-tolerant Church of England The House of Lords Eastenders The sewage ridden waterways of England HS2 England’s energy poverty GAVIN AND FCKNG STACEY
All of these topics are of course extensively and endlessly amplified by the state broadcaster. Only this morning I’ve learned via several news bulletins that Wills & Kate did not attend the traditional pre Christmas lunch at the Palace.
To be fair, most of those are irrelevant south of the border. I mean, who watches Eastenders or has a Tory MP anymore?
But have a look at PB passim. With the possible exception of Eastenders, and the addition of London Underground's naming schemes, electric jamjars, and some industrial archaeology other than HS2, it's actually quite an accurate synopsis of perennial obsessions.
Not sure it is these days. We all live in our personalised bubbles.
The algorithm filters it out, unless of course it amplifies the rage. Perhaps you see more of this stuff north of the border precisely because it pisses you off.
Not if one doesn't use social media with filter algorithms. I certainly don't.
Alas you can’t escape, where do you think journalists, politicians and folks on PB and in the pub their material. We are all slaves to the algorithm
But that's the overall background - not something personalised to me, say. Which, speaking more generally, is exactly TUD's point.
"Borrowing – the difference between public sector spending and income – was £11.2 billion in November 2024, £3.4 billion less than in November 2023 and the lowest November borrowing for three years.
Current budget deficit – borrowing to fund day-to-day public sector activities – was £6.8 billion in November 2024, £3.5 billion less than in November 2023 and the lowest November current budget deficit for three years."
Just as well given the trajectory of borrowing costs and let's hope the forecasts for next year do not come to pass.
Any idea what their track record is like? I would honestly have expected bond yields to fall next year as global interest rates continue to fall and the world economy teeters on recession given Trump's proposed policies. Their forecast is based on an "algorithm" which may be no more than a projection of very recent trends forward.
I think they are just an aggregator who pull data from other sites. Trading Economics is forecasting 4.35% in 12 months time.
Same here but will global interest rates continue to fall given the inflationary pressures.
The fed is alot more hawkish after the meeting this week.
While clearly it will take some time for people to adapt, the return of positive real interest rates is a good thing. We have had 15 years of effective negative interest rates that penalise savers and those buying annuities with their pension pots.
Low interest rates are not a a good thing for everyone.
Savers have the option of investing in something other than cash if they want higher returns.
Which leads to asset bubbles, especially in housing.
Housing prices are not coming down despite higher interest rates. I wonder why?
Aren't they going down in real terms? There's been quite a bit of inflation in recent years. So 20% or whatever of your mortgage has evaporated just like that. (Just trying to cheer you up, but it's also a valid point.)
On topic, the Royals are just another thing to be added to the growing pile of stuff that makes the average Scot think what the fuck has this got to do with me.
Some others (not a definitive list):
Brexit The Tory party Small boats Farage The triumphs and tribulations of the English cricket team The triumphs and tribulations of the English football team The triumphs and tribulations of the English rugby team (See also the women’s versions of these and whatever stupid name the marketing guys have come up with for them) The nonce-tolerant Church of England The House of Lords Eastenders The sewage ridden waterways of England HS2 England’s energy poverty GAVIN AND FCKNG STACEY
All of these topics are of course extensively and endlessly amplified by the state broadcaster. Only this morning I’ve learned via several news bulletins that Wills & Kate did not attend the traditional pre Christmas lunch at the Palace.
To be fair, most of those are irrelevant south of the border. I mean, who watches Eastenders or has a Tory MP anymore?
But have a look at PB passim. With the possible exception of Eastenders, and the addition of London Underground's naming schemes, electric jamjars, and some industrial archaeology other than HS2, it's actually quite an accurate synopsis of perennial obsessions.
Not sure it is these days. We all live in our personalised bubbles.
The algorithm filters it out, unless of course it amplifies the rage. Perhaps you see more of this stuff north of the border precisely because it pisses you off.
Not if one doesn't use social media with filter algorithms. I certainly don't.
Alas you can’t escape, where do you think journalists, politicians and folks on PB and in the pub their material. We are all slaves to the algorithm
But that's the overall background - not something personalised to me, say. Which, speaking more generally, is exactly TUD's point.
But it is? Not sure anyone can really know any more.
Budget has caused economy to stagnate, Bank of England says
Andrew Bailey downgrades growth forecasts and says businesses are cutting costs and raising prices after Rachel Reeves’s raid on employers’ NI
The Bank of England has warned that the economy is stagnating after Rachel Reeves’s budget as businesses have responded by raising prices and cutting jobs.
Andrew Bailey, governor of the Bank, said that there would be a gradual approach to cutting interest rates because of concerns over the impact of tax rises and a higher minimum wage.
Officials at the Bank downgraded their forecasts and said that they now expect “zero growth” in the final three months of 2024.
UK car production fell to the lowest level since 1980 last month. The economy faces headwinds well beyond those generated by the dismal budget.
The UK only has 3.5 volume manufacturers who are all facing headwinds. JLR LOL. Nissan, right in the shit with a mediocre product line, only redemeed by a very effective dealer network. Mini, moved the brand up a segment where competition is stiffer and don't make the BEV models in the UK. Stellantis might get off their deathbed in the UK if their BEV vans are cheap enough - product quality being utterly irrelevant in that segment.
Traded the M1000RR for a Bimota KB988. Bought a rusty E30 318is for its minty interior that's going in my S54 engined Bauer E30. All the lambda sensors on the Tributo are dead. That's my fleet update.
Western car companies failed to read the writing on the wall about a decade back.
They're now scrambling around in search of a strategy.
On topic, the Royals are just another thing to be added to the growing pile of stuff that makes the average Scot think what the fuck has this got to do with me.
Some others (not a definitive list):
Brexit The Tory party Small boats Farage The triumphs and tribulations of the English cricket team The triumphs and tribulations of the English football team The triumphs and tribulations of the English rugby team (See also the women’s versions of these and whatever stupid name the marketing guys have come up with for them) The nonce-tolerant Church of England The House of Lords Eastenders The sewage ridden waterways of England HS2 England’s energy poverty GAVIN AND FCKNG STACEY
All of these topics are of course extensively and endlessly amplified by the state broadcaster. Only this morning I’ve learned via several news bulletins that Wills & Kate did not attend the traditional pre Christmas lunch at the Palace.
I haven’t regularly watched or listened to BBC news in YEARS. Why the fuck are you?
It’s mildly Woke pap aimed at low-watt morons
And despite our many stramashes I’ve never seen you as dumb; quite the opposite
I listen to a lot of BBC R4/World Service, out of lifelong habit more than anything. I doubt you've ever listened to BBC Radio Scotland but if you had it might give you some insight into why I stick with the lesser of two evils.
Budget has caused economy to stagnate, Bank of England says
Andrew Bailey downgrades growth forecasts and says businesses are cutting costs and raising prices after Rachel Reeves’s raid on employers’ NI
The Bank of England has warned that the economy is stagnating after Rachel Reeves’s budget as businesses have responded by raising prices and cutting jobs.
Andrew Bailey, governor of the Bank, said that there would be a gradual approach to cutting interest rates because of concerns over the impact of tax rises and a higher minimum wage.
Officials at the Bank downgraded their forecasts and said that they now expect “zero growth” in the final three months of 2024.
UK car production fell to the lowest level since 1980 last month. The economy faces headwinds well beyond those generated by the dismal budget.
The UK only has 3.5 volume manufacturers who are all facing headwinds. JLR LOL. Nissan, right in the shit with a mediocre product line, only redemeed by a very effective dealer network. Mini, moved the brand up a segment where competition is stiffer and don't make the BEV models in the UK. Stellantis might get off their deathbed in the UK if their BEV vans are cheap enough - product quality being utterly irrelevant in that segment.
Traded the M1000RR for a Bimota KB988. Bought a rusty E30 318is for its minty interior that's going in my S54 engined Bauer E30. All the lambda sensors on the Tributo are dead. That's my fleet update.
A Bimoto is an absurdly fast and expensive widowmaker, but a Bauer converted E30 even with an S54 motor is a bit Centrist Dad with pipe, slippers and a spaniel. Do you still have the crazy, ape bonkers, Porsches?
Budget has caused economy to stagnate, Bank of England says
Andrew Bailey downgrades growth forecasts and says businesses are cutting costs and raising prices after Rachel Reeves’s raid on employers’ NI
The Bank of England has warned that the economy is stagnating after Rachel Reeves’s budget as businesses have responded by raising prices and cutting jobs.
Andrew Bailey, governor of the Bank, said that there would be a gradual approach to cutting interest rates because of concerns over the impact of tax rises and a higher minimum wage.
Officials at the Bank downgraded their forecasts and said that they now expect “zero growth” in the final three months of 2024.
"Borrowing – the difference between public sector spending and income – was £11.2 billion in November 2024, £3.4 billion less than in November 2023 and the lowest November borrowing for three years.
Current budget deficit – borrowing to fund day-to-day public sector activities – was £6.8 billion in November 2024, £3.5 billion less than in November 2023 and the lowest November current budget deficit for three years."
Just as well given the trajectory of borrowing costs and let's hope the forecasts for next year do not come to pass.
Any idea what their track record is like? I would honestly have expected bond yields to fall next year as global interest rates continue to fall and the world economy teeters on recession given Trump's proposed policies. Their forecast is based on an "algorithm" which may be no more than a projection of very recent trends forward.
I think they are just an aggregator who pull data from other sites. Trading Economics is forecasting 4.35% in 12 months time.
Same here but will global interest rates continue to fall given the inflationary pressures.
The fed is alot more hawkish after the meeting this week.
While clearly it will take some time for people to adapt, the return of positive real interest rates is a good thing. We have had 15 years of effective negative interest rates that penalise savers and those buying annuities with their pension pots.
Low interest rates are not a a good thing for everyone.
Savers have the option of investing in something other than cash if they want higher returns.
Which leads to asset bubbles, especially in housing.
Not if investing in something productive. If people with savings in the UK had a bit more creativity than only investing in cash, bonds or houses then our economy would be in a much better place.
UK public and venture capital equity markets have certainly not been a bubble vs global peers.
"Borrowing – the difference between public sector spending and income – was £11.2 billion in November 2024, £3.4 billion less than in November 2023 and the lowest November borrowing for three years.
Current budget deficit – borrowing to fund day-to-day public sector activities – was £6.8 billion in November 2024, £3.5 billion less than in November 2023 and the lowest November current budget deficit for three years."
Just as well given the trajectory of borrowing costs and let's hope the forecasts for next year do not come to pass.
Any idea what their track record is like? I would honestly have expected bond yields to fall next year as global interest rates continue to fall and the world economy teeters on recession given Trump's proposed policies. Their forecast is based on an "algorithm" which may be no more than a projection of very recent trends forward.
I think they are just an aggregator who pull data from other sites. Trading Economics is forecasting 4.35% in 12 months time.
Same here but will global interest rates continue to fall given the inflationary pressures.
The fed is alot more hawkish after the meeting this week.
While clearly it will take some time for people to adapt, the return of positive real interest rates is a good thing. We have had 15 years of effective negative interest rates that penalise savers and those buying annuities with their pension pots.
Low interest rates are not a a good thing for everyone.
Because savers and those with pension pots are the priority of course
It's just a return to historic norm. It's the last 15 years that have been the aberration.
Savers should get a real return, and the return of decent annuity rates are a good thing for pension schemes.
Absolutely right. We have just reverted to the norm. The last 10-15 years have been the aberration.
"Borrowing – the difference between public sector spending and income – was £11.2 billion in November 2024, £3.4 billion less than in November 2023 and the lowest November borrowing for three years.
Current budget deficit – borrowing to fund day-to-day public sector activities – was £6.8 billion in November 2024, £3.5 billion less than in November 2023 and the lowest November current budget deficit for three years."
Just as well given the trajectory of borrowing costs and let's hope the forecasts for next year do not come to pass.
Any idea what their track record is like? I would honestly have expected bond yields to fall next year as global interest rates continue to fall and the world economy teeters on recession given Trump's proposed policies. Their forecast is based on an "algorithm" which may be no more than a projection of very recent trends forward.
I think they are just an aggregator who pull data from other sites. Trading Economics is forecasting 4.35% in 12 months time.
Same here but will global interest rates continue to fall given the inflationary pressures.
The fed is alot more hawkish after the meeting this week.
While clearly it will take some time for people to adapt, the return of positive real interest rates is a good thing. We have had 15 years of effective negative interest rates that penalise savers and those buying annuities with their pension pots.
Low interest rates are not a a good thing for everyone.
Savers have the option of investing in something other than cash if they want higher returns.
Which leads to asset bubbles, especially in housing.
Housing prices are not coming down despite higher interest rates. I wonder why?
House prices are like a ratchet. They go up easily, but are sticky coming down. We see it in the time taking to sell rather than nominal asking prices falling. In practice it's more likely that house prices will remain static, getting slowly eroded by inflation. Rising incomes will help too.
You really don't want a return of the negative equity and high interest rates that my generation suffered in the early nineties. It makes the nominal house prices look cheap, but the actual affordability was awful. Indeed the percentage of income housing cost me at Fox Jr's age (he actually lives in an identical house in Leicester to my first) was about 40% of net income. Not cheap at all.
It was more damaging for the EU than the UK. The loss of UK pragmatism and liberalism has led directly to the EU’s self defeating regulatory bonanza, destroying innovation and crushing flexibility
Wolfgang is a great guy. He is probably the most astute reader of European politics out there but he does have some biases, including excessive optimism on the ability of the UK to capitalise on Brexit, as well as an excessive degree of Anglophilia more broadly. I would agree that Brexit has harmed the EU materially, though. More than it has harmed the UK? No. As much as it has harmed the UK? Possibly.
Budget has caused economy to stagnate, Bank of England says
Andrew Bailey downgrades growth forecasts and says businesses are cutting costs and raising prices after Rachel Reeves’s raid on employers’ NI
The Bank of England has warned that the economy is stagnating after Rachel Reeves’s budget as businesses have responded by raising prices and cutting jobs.
Andrew Bailey, governor of the Bank, said that there would be a gradual approach to cutting interest rates because of concerns over the impact of tax rises and a higher minimum wage.
Officials at the Bank downgraded their forecasts and said that they now expect “zero growth” in the final three months of 2024.
UK car production fell to the lowest level since 1980 last month. The economy faces headwinds well beyond those generated by the dismal budget.
The UK only has 3.5 volume manufacturers who are all facing headwinds. JLR LOL. Nissan, right in the shit with a mediocre product line, only redemeed by a very effective dealer network. Mini, moved the brand up a segment where competition is stiffer and don't make the BEV models in the UK. Stellantis might get off their deathbed in the UK if their BEV vans are cheap enough - product quality being utterly irrelevant in that segment.
Traded the M1000RR for a Bimota KB988. Bought a rusty E30 318is for its minty interior that's going in my S54 engined Bauer E30. All the lambda sensors on the Tributo are dead. That's my fleet update.
Western car companies failed to read the writing on the wall about a decade back.
They're now scrambling around in search of a strategy.
BMW largely got it right. Moved massive amounts to production to China and went all in on BEVs without losing too much brand equity. Also succeeded excellently with Rolls-Royce, particularly the Cullinan.
VAG's premium brands (Porsche, Lambo, Bentley) also made shrewd moves and the mass market brands have the occasional stand out product (ID Buzz).
However, you're mainly correct, there are plenty of European brands in a death spiral.
On topic, the Royals are just another thing to be added to the growing pile of stuff that makes the average Scot think what the fuck has this got to do with me.
Some others (not a definitive list):
Brexit The Tory party Small boats Farage The triumphs and tribulations of the English cricket team The triumphs and tribulations of the English football team The triumphs and tribulations of the English rugby team (See also the women’s versions of these and whatever stupid name the marketing guys have come up with for them) The nonce-tolerant Church of England The House of Lords Eastenders The sewage ridden waterways of England HS2 England’s energy poverty GAVIN AND FCKNG STACEY
All of these topics are of course extensively and endlessly amplified by the state broadcaster. Only this morning I’ve learned via several news bulletins that Wills & Kate did not attend the traditional pre Christmas lunch at the Palace.
To be fair, most of those are irrelevant south of the border. I mean, who watches Eastenders or has a Tory MP anymore?
But have a look at PB passim. With the possible exception of Eastenders, and the addition of London Underground's naming schemes, electric jamjars, and some industrial archaeology other than HS2, it's actually quite an accurate synopsis of perennial obsessions.
Not sure it is these days. We all live in our personalised bubbles.
The algorithm filters it out, unless of course it amplifies the rage. Perhaps you see more of this stuff north of the border precisely because it pisses you off.
Not if one doesn't use social media with filter algorithms. I certainly don't.
Alas you can’t escape, where do you think journalists, politicians and folks on PB and in the pub their material. We are all slaves to the algorithm
Channelling your inner Grace Jones, I like that.
A friend's son pulled her in a Jamaican night club.
Comments
The Reeves effect.
1st August business confidence is at a 3 year high.
Now it is at a 4 year low.
This from the same people who claim ‘Truss crashed the economy”
https://x.com/aaronbastani/status/1869710310409687213?s=61
Andrew Bailey downgrades growth forecasts and says businesses are cutting costs and raising prices after Rachel Reeves’s raid on employers’ NI
The Bank of England has warned that the economy is stagnating after Rachel Reeves’s budget as businesses have responded by raising prices and cutting jobs.
Andrew Bailey, governor of the Bank, said that there would be a gradual approach to cutting interest rates because of concerns over the impact of tax rises and a higher minimum wage.
Officials at the Bank downgraded their forecasts and said that they now expect “zero growth” in the final three months of 2024.
https://www.thetimes.com/uk/politics/article/budget-has-caused-economy-to-stagnate-bank-of-england-says-vbmr7gf6d
https://news.sky.com/story/kings-cancer-treatment-will-continue-into-next-year-sky-news-understands-13276684
https://www.telegraph.co.uk/news/politics/labour/4996440/Lord-Mandelson-must-remain-loyal-to-EU-to-guarantee-pension.html
It's only 30 thousand a year he gets, but it seems a pretty clear conflict of interest to me. He should relinquish the pension upon joining the British diplomatic service.
Slow clap for Ms Reeves.
As the lead should surely finish?
https://www.ons.gov.uk/economy/governmentpublicsectorandtaxes/publicsectorfinance/bulletins/publicsectorfinances/november2024
"Borrowing – the difference between public sector spending and income – was £11.2 billion in November 2024, £3.4 billion less than in November 2023 and the lowest November borrowing for three years.
Current budget deficit – borrowing to fund day-to-day public sector activities – was £6.8 billion in November 2024, £3.5 billion less than in November 2023 and the lowest November current budget deficit for three years."
It will amuse some of you there was a quiz and one of the sections was on Christmas music, films, and TV shows and of the questions was
'Which 1980s film starring Bruce Willis and Alan Rickman is set at Christmas Eve'?
I am putting in a grievance in to HR this morning.
https://www.worldgovernmentbonds.com/bond-forecast/united-kingdom/10-years/
https://www.worldgovernmentbonds.com/bond-forecast/united-kingdom/2-years/
But to suggest Peter Mandelson has made a career out of split loyalties and being influenced by money is a pure statement of fact, regardless of his being Jewish.
https://www.youtube.com/watch?v=Xtt78SW-mgg
(I've no idea if the Latin is correct...)
Freezing This Christmas, by Sir Starmer and the Granny Harmers, lampoons cutting of winter fuel payments for pensioners
https://www.telegraph.co.uk/politics/2024/12/19/bbc-refuses-to-play-anti-starmer-christmas-song/ (£££)
The song (based on Mud's Lonely this Christmas) can be heard here:-
https://www.youtube.com/watch?v=mQrvmY5s2mo
The "official" Christmas number one will be announced this afternoon and is based on sales and streams in the week up to midnight last night.
Hence Trump (& Musk).
https://x.com/_johnnymaga/status/1869807874777432495?s=61&t=LYVEHh2mqFy1oUJAdCfe-Q
The 2026 Holyrood elections are going to be Starmers first big electoral test. Despite recent years, surely the SNP are going to win a majority.
Chaz is in no position to do any scandals, staggering or otherwise, because he's basically just a tumour with a crown on top at this point.
The ScotNats need to regroup and refresh having missed their shot with Johnson and the descent into complacent decadence of the leadership of the SNP. That's probably at least a decade or more away but I sincerely wish them well in their liberation struggle.
When did all journalists become such massive dickheads? Why are they so totally focussed on feels and moralising instead of facts and answers? I know I should stop listening but I’ve been listening for decades and it feels like a case of Today leaving me rather than me leaving Today.
I’m waiting for Emma Barnett to ask people from Hampshire to hone in with their stories about why they couldn’t shower yesterday is a sign of the continued oppression of WASPI women.
Maybe it’s just me, but Republicans having two daddies seems kind of woke
You have to wonder why anyone from a body like Southern Water even appear on such a show when the only aim of the excercise is to try to humiliate them.
Someone sent me this. I have forgotten most of my Latin as the last time I studied it was in 1968...
Tears for Fears .. in Latin....
https://youtu.be/Xtt78SW-mgg?si=S9PTF5wN92uMxHVN
Macquarie’s embattled UK water asset gets go-ahead to jack up bills
https://www.afr.com/companies/infrastructure/macquarie-s-embattled-uk-water-asset-gets-go-ahead-to-jack-up-bills-20241215-p5kyjx (£££)
https://bsky.app/profile/did:plc:5lplaxalie3qu73vfqb3i37o/post/3ld
(Yes, I know they are claims...)
I said last night that Labour's first few months have been well, well beyond the normal rough and tumble of politics - perhaps a new normal, but clearly different to what has gone before. That this type of (serious) skit exists is perfectly normal rough and tumble, it is just some of the bits round the edges that seem fishy and I wonder how the promotion of this within the algorithms has been achieved.
It was just absolutely ridiculous. Listen to it and tell me it wasn’t just “feels” journalism rather than, let’s get someone on and get the facts and answers. The journalists don’t need to be outraged for people, people can do that themselves, they are there to get information not judgement.
Despite the absolute car crash of the SNP government in recent years they will lead the next government surely.
A more forensic grilling would of course be better, but I'm shedding few tears for the "poor chap".
Scottish politics makes UK politics look good right now.
Same here but will global interest rates continue to fall given the inflationary pressures.
The fed is alot more hawkish after the meeting this week.
Could we see a rise in interest rates now ?
https://threadreaderapp.com/thread/1869829152347664875.html
NB: I don’t want you banned. I just want to know the rules
Some others (not a definitive list):
Brexit
The Tory party
Small boats
Farage
The triumphs and tribulations of the English cricket team
The triumphs and tribulations of the English football team
The triumphs and tribulations of the English rugby team
(See also the women’s versions of these and whatever stupid name the marketing guys have come up with for them)
The nonce-tolerant Church of England
The House of Lords
Eastenders
The sewage ridden waterways of England
HS2
England’s energy poverty
GAVIN AND FCKNG STACEY
All of these topics are of course extensively and endlessly amplified by the state broadcaster. Only this morning I’ve learned via several news bulletins that Wills & Kate did not attend the traditional pre Christmas lunch at the Palace.
Low interest rates are not a a good thing for everyone.
And what was the number for the undecideds who were excluded ?
It’s mildly Woke pap aimed at low-watt morons
And despite our many stramashes I’ve never seen you as dumb; quite the opposite
I cannot remember ever seeing blossom before the new year even starts.
I wonder if the snow inn November followed by warmer weather now has triggered it.
https://www.thenational.scot/news/24808326.labours-jackie-baillie-blasts-uk-government-waspi-decision/
But remember that - unlike the Tories and LDs - there *is no separate Scottish Labour Party*: it's only a loophole in electoral law, deliberately inserted by a Labour administration, that allows them to claim they are on the ballot paper. And in any case pensions are a strictly reserved matter, so none of their business as MSPs - even if it is as Party members. How much of this is also deliberate obfuscation and an attempt to mislead the voters remains to be seen.
https://www.bing.com/videos/search?q=freezing+this+Christmas&view=detail&mid=0C4482B73528C08AFD380C4482B73528C08AFD38&FORM=VIRE&PC=SMSM
Paying cash for generic gleevec ~$80-$90
Use Aetna ? - $1044 - $2559
https://x.com/anish_koka/status/1869936625465135233
A revised spending plan failed to reach the two-thirds majority needed in the lower chamber of Congress, with 38 Republicans voting against the bill on Thursday night, defying the president-elect.
https://www.bbc.co.uk/news/articles/cz6l9e3jq7xo
If Trump cannot even get his spending plan passed I don't see much chance of David Herdson's fear of Trump being appointed God-Emperor happening.
Traded the M1000RR for a Bimota KB988. Bought a rusty E30 318is for its minty interior that's going in my S54 engined Bauer E30. All the lambda sensors on the Tributo are dead. That's my fleet update.
I assume it just brings the thresholds down in line with PA ?
It was more damaging for the EU than the UK. The loss of UK pragmatism and liberalism has led directly to the EU’s self defeating regulatory bonanza, destroying innovation and crushing flexibility
https://www.eurointelligence.com/column/what-brexit-did-to-the-eu
The algorithm filters it out, unless of course it amplifies the rage. Perhaps you see more of this stuff north of the border precisely because it pisses you off.
Savers should get a real return, and the return of decent annuity rates are a good thing for pension schemes.
More saving and less consumption is good for the country and the planet.
Brexit (eventually) brought Boris to power, and he was Ukraine's biggest major supporter at the critical time of the war.
It's a counterfactual of course I can't see Cameron or Osborne or whoever rallying the free world as well as Boris did in the first year of the war, especially given how they acquiesced in Europe's spinelessness after the first invasion in 2014.
Anyway, as Starmer has shown in the last six months, we don't need the EU - we're more than capable of destroying innovation and crushing flexibility on our own.
They're now scrambling around in search of a strategy.
UK public and venture capital equity markets have certainly not been a bubble vs global peers.
You really don't want a return of the negative equity and high interest rates that my generation suffered in the early nineties. It makes the nominal house prices look cheap, but the actual affordability was awful. Indeed the percentage of income housing cost me at Fox Jr's age (he actually lives in an identical house in Leicester to my first) was about 40% of net income. Not cheap at all.
VAG's premium brands (Porsche, Lambo, Bentley) also made shrewd moves and the mass market brands have the occasional stand out product (ID Buzz).
However, you're mainly correct, there are plenty of European brands in a death spiral.
He had no idea who she was.
Or that she was in her mid-seventies.