Member Info for Gate13Boy

Sunak is going to squeeze the last pips out of households in higher taxation and put us in a deep recession.

Sunny uplands and the land of milk and honey ? I think not…….

“EUROZONE inflation hit a record high in October, piling pressure on the bloc to keep raising interest rates amid warnings that double-digit price rises had not yet peaked.

Inflation jumped to 10.7pc in the year to October, according to Eurostat. This is higher than the 10.3pc increase expected by economists and up from 9.9pc the previous month.

The increase was driven by soaring energy prices after Russia slashed gas supplies to the Continent.

Separate Eurostat figures also suggested the eurozone was headed towards recession. The 19-nation bloc expanded 0.2pc in three months to September. This is down from 0.8pc in the second quarter and is likely to contract in the coming months.

The figures will reignite calls for the European Central Bank (ECB) to act aggressively to bring down inflation. The central bank has already hiked rates by two percentage points in its last three meetings, but has promised further action as soon as December.

Claus Vistesen, chief eurozone economist at Pantheon Macroeconomics, said it was difficult to say if price rises had peaked. “There’s nothing really positive in these numbers. What it does say is that the ECB and other forecasters have consistently underestimated inflation.” Mr Vistesen added that “core” inflation in the eurozone, which strips out volatile increases in food and energy, was likely to remain “uncomfortably high”. The rate rose to 5pc in October, from 4.8pc in September.

Andrew Kenningham, chief Europe economist at Capital Economics, said the eurozone’s growth outlook remained bleak. “Business surveys all point to a sharp deterioration in conditions ... and we have pencilled in a substantial fall in [output] in Q4 and Q1 next year,” he said.

Mr Kenningham said it was likely the policymakers would keep hiking interest rates, regardless of the growth outlook. “The increase in eurozone gross domestic product (GDP) in Q3 does not alter our view that the eurozone is on the cusp of a recession. But with inflation having jumped to well over 10pc, the ECB will prioritise price stability and press on with rate hikes regardless.”

Looks like the mods didn't agree with your alter ego Mach and took the thread down quite rightly.

What couldn't you make up livestock ?

A lot of people are likely to default on their mortgages as interest rates rise. Likewise some companies are likely to fold in an economic downturn. The good thing about bad debt provisions is that they reverse the following year as a credit if they are unused. Seems sensible and prudent to me making provisions for mortgage defaults and companies which default on loans.

The mods will hopefully deal with him in the morning LTI. Even by his low standards, it was beneath contempt.

There's nothing Tory about the SNP. They're a left of centre social democrat type party and a deluded one at that. You only need to look at the Chuckle brothers on here to realise what sort of people support the SNP.

Grayling,

If you're one of the divs who thought ultra low mortgage rates would last forever then more the fool you. People who live beyond their means have only themselves to blame. The average interest over time in this country is 5% and borrowers would have been wise to stress test their finances with mortgages at that rate. I guess the desire to keep up with the Joneses is going to catch a lot of households out......

https://www.reuters.com/world/uk/new-uk-pm-sunak-will-reinstate-fracking-ban-ft-2022-10-26/

That'll be good for everyone's energy bills.....not

Would be nice. Still think it will be 0.75% but we can live in hope......

Because they're stupid 88. They do the same thing over and over again expecting a different result. I guess many of them will do anything for a story.

We won’t get more money for buybacks at a quarterly results stage. The major concern has to be impairment provisions and the spectre of a windfall tax now the Tories have moved to the left with Sunak’s tax and spend policies.

“Hungary and Poland are facing a fiscal crisis as they are at odds with EU, finds James Crisp in Budapest
Addressing a rally of supporters in the face of a gathering economic storm, Viktor Orbán was in no mood to pull his punches over the European Union.

“Let us not worry about those who are shooting at Hungary hidden in the shadows, somewhere from the watchtowers of Brussels,” he said.

Hungary was under threat, the prime minister said on the 66th anniversary of his country’s failed uprising against the Soviet Union, from the twin challenges of the war in Ukraine and the hit that it had triggered to the economy.

“Financial crisis and economic downturn in the EU. Migration invasion in the south. War in the east and economic crisis in the West,” Orbán said in front of a massed rank of flags.

Orbán, an arch-Conservative fresh from winning a crushing fourth consecutive election this April, is also at war with the EU.

His allies in Budapest accuse Brussels of blackmailing Hungary and Poland over billions of euros in a politically motivated bid to enforce its “woke” ideology. Critics call him a pro-Putin puppet building an authoritarian anti-democratic regime.

All of this turmoil is weighing on the Hungarian economy. Inflation has soared to more than 20pc and the government’s 10-year borrowing costs have shot up from below 5pc at the start of the year to more than 10pc this month.”

Mach,

“ HA HA HA it's nice to know I live in your head rent free you demented, fascist, Tory-voting scum.”

The usual abusive and hate-filled bile from you, very similar to Lulu’s style of posting……..angry and insulting. Nothing’s convinced me that you’re not the same poster and neither of you posted for 48 hours at the weekend strangely. Away doing something and unable to post perhaps ?

As for living in my head, please don’t flatter yourself. You provide the entertainment on here with your moronic posts. How’s that unchecked and unlimited immigration to the UK idea of yours panning out ?

Ah it’s Antony who thinks Sunak the Brexiteer is going to rejoin the EU. They’re all out tonight…..

Lulu, it’s your bedtime. Have you forgotten Mach’s login details ? He seems to be a bit quiet of late.

Lulu. I keep telling you to do your own research. Please don't keep asking me to help you with your homework. You won't learn anything if I do it for you. How was school today ?

Sunak would not have been my choice. But I'd rather have a Brexiteer in charge than Starmer. The Labour leader who wanted to re-negotiate Brexit, then vote against what he'd negotiated. You can't get any stupider than that.

Point to you Brixton lol

Epro,

Remoaners tried to thwart Brexit for years after the vote as even did the Speaker in the Commons and the EU. The real dividends from Brexit are to come.

Indeed skier,

We've got the anti-Uk coalition on here as a good example of talking the country down.