Budget 2024

Aye, cause Boris/Truss/Sunak were paragons of truth....
Whataboutery at its finest ....doesn't make it right just because the conservatives were also liars.
There all the same,No need to defend whats wrong just because its "your" party.
 


The farmer featured on the bbc news today they said farms 500 acres in Somerset. Out of curiosity I looked up prices for the region and, depending on whether it's arable or pasture and prime to poor, I did a fag packet calculation that suggested the land was worth between £3.5 - £5.5m. His sole argument for remaining exempt seemed to be that he was a custodian of the countryside. It didn't strike me as an argument that would win many people over.
 
The markets are taking the budget badly.
The Pound has fallen 0.66% today and nearly 3.25% since the start of October.
Borrowing Cost have risen accordingly.

It fell 3p a few weeks ago after the Governor of the BoE said they should be looking at reducing interest rates.

Notable that the Euro also fell against the dollar.
 
Charities say the budget will cost them £1.4bn, which for NFP organisations with limited scope for rising prices is a big deal.
 
It fell 3p a few weeks ago after the Governor of the BoE said they should be looking at reducing interest rates.

Notable that the Euro also fell against the dollar.

Currencies always decline on perceived or actual reductions in interest rates - it’s the nature of the markets - you pay them less they’ll want to hold assets of someone who is paying them more (and who isn’t a basket case) thus they sell your currency and buy theirs.

What would be concerning is increasing yields and a decreasing currency. That signals some loss of confidence in the economic direction of a country.
 

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