Budget 2024

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Brewster's millions said:
Why are you talking about equities when the pertinent issue is how gilt yields have reacted to the higher issuance outlook, and how the higher borrowing costs feed back into the OBR’s projections?

You advertise your ignorance and lack of knowledge with every post.
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Pot
meet
kettle
 
west didsblue said:
Let’s see what gilt yields are in a month or two when things settle down. Also the dollar exchange rate has gone from $1.30 to $1.29. Hardly earth shattering.
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Pure guesswork but won't the majority of the markets in the world right now be shakey as fuck wondering what happens next week in the US?
 
bluenova said:
The Telegraph has become almost indistinguishable from the Daily Mash.

I saw this shared on X, and the first comment suggested they cut down on take out coffee and avocado on toast :)
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It’s a shame to see a newspaper of record descend to the level of the Mail or Express.
Although it has always leaned right and been Tory supporting, it was in most part factual with considered opinions. It’s now gone full culture war anti-woke wibbling nonsense. It reflects the way the country has been divided utilising mainstream and social media to further the agenda of a few billionaires.
 
Brewster's millions said:
No one is suggesting that the Budget has had a devastating impact on the fiscal position. Rather that the borrowing projections have increased by more than expected, with the market reacting in turn. The fact the OBR only expected the Budget to boost gilt yields by 25bp is an issue given that we’ve already seen an increase of that scale.

Unfortunately acknowledging that market reaction, which is undeniable and has led Starmer to write an article in the FT today reiterating his intention to push through reforms across public services, is simply a step too far for many on here.

The payrolls figures were 100k below expectations by the way, so they were a surprise and they did move the dollar.
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The problem, as I see it, is the markets have seen an increase of over £140bn in borrowing this Parliament and huge tax rises but with lower growth forecasted compared to before the budget. Now Labour will argue that the growth predictions are wrong but that’s a worry. There are two key concerns here, firstly how much Reeves has front loaded public spending for the first 2 years with austerity in all but name for the remaining 2 years before the next GE - that’s not going to promote growth. More money doesn’t mean more output, we’ve all seen that the NHS has a 17% increase in funding, increases in staffing yet only a 1% increase in output. This is why talk of reform become practical actions is central to this. Secondly how much of this becomes structural leading to more tax rises / increased borrowing without returns on growth - the main problem in her in-tray is she needs to agree multi year department settlements next spring before any of the reform improvements have manifested themselves - it’s a shot in the dark at that point and markets are concerned there isn’t a plan, albeit they can see the making of one. Labour have pinned their flag to the growth mast, so far it doesn’t look encouraging but time will tell.

If this goes tits up then the tories are going to take a flame thrower to this public spending spree. They’ll get blamed for austerity and the whole circus goes again. Anyway fingers crossed is does work - god knows we need it.
 
bluethrunthru said:
www.bbc.co.uk

Torquay chip shop owner faces £70,000 Budget bill

Lorraine Arnold says changes announced in the Budget may force her to change her business model.
www.bbc.co.uk www.bbc.co.uk

hmmm - BBC not telling the true story again

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Unsurprisingly you’ve got it wrong!!

The chippy is owned by Seashell limited

The chippy

PIER POINT TORQUAY LTD overview - Find and update company information - GOV.UK

PIER POINT TORQUAY LTD - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity
find-and-update.company-information.service.gov.uk find-and-update.company-information.service.gov.uk

The parent company

SEA SHELL HOLDINGS LIMITED overview - Find and update company information - GOV.UK

SEA SHELL HOLDINGS LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity
find-and-update.company-information.service.gov.uk find-and-update.company-information.service.gov.uk


Amazing what 30 seconds of using google gets you. You’d have thought you’d have learnt by now that Twitter is full of shit. Or at least the clowns you follow are.
 
metalblue said:
Unsurprisingly you’ve got it wrong!!

The chippy is owned by Seashell limited

The chippy

PIER POINT TORQUAY LTD overview - Find and update company information - GOV.UK

PIER POINT TORQUAY LTD - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity
find-and-update.company-information.service.gov.uk find-and-update.company-information.service.gov.uk

The parent company

SEA SHELL HOLDINGS LIMITED overview - Find and update company information - GOV.UK

SEA SHELL HOLDINGS LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity
find-and-update.company-information.service.gov.uk find-and-update.company-information.service.gov.uk


Amazing what 30 seconds of using google gets you. You’d have thought you’d have learnt by now that Twitter is full of shit. Or at least the clowns you follow are.
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It’s not quite as straightforward as that. Whilst it’s true that Cornshire no longer owns Seashell, its stake appears to have been transferred directly to its owner Mr. Henry Moreton who appears to own half of it. Mr Moreton owns multiple businesses and looks like he’s not short of a few quid. Looking at the Companies House records suggests something a bit fishy (pun intended) with two of Mr Moreton’s companies owning each other. In summary, I don’t think they’re struggling but it’s hard to tell with their complicated structure.
 
west didsblue said:
It’s not quite as straightforward as that. Whilst it’s true that Cornshire no longer owns Seashell, its stake appears to have been transferred directly to its owner Mr. Henry Moreton who appears to own half of it. Mr Moreton owns multiple businesses and looks like he’s not short of a few quid. Looking at the Companies House records suggests something a bit fishy (pun intended) with two of Mr Moreton’s companies owning each other. In summary, I don’t think they’re struggling but it’s hard to tell with their complicated structure.
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It looks to me that the parent owns the premises and the chippy runs the day to day. But I CBA looking any deeper in to it on a Sunday. What the company setup was 2 years ago isn’t really important in this context.

I wouldn’t mind being a pound behind Mr Moreton.
 
metalblue said:
It looks to me that the parent owns the premises and the chippy runs the day to day. But I CBA looking any deeper in to it on a Sunday. What the company setup was 2 years ago isn’t really important in this context.

I wouldn’t mind being a pound behind Mr Moreton.
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No it’s not but the point is that it’s the same owner just not through one of his companies. Also CBA looking further.
 
BobKowalski said:
Liz crashes the economy, Rachel upsets a chippy and rich landowners who bought farms as a tax dodge.

You need a heart of stone not to laugh.
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Yeah, the farmers are threatening to shut London down for a day, but there’s no mention of ambulances not getting through either.
 
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