Member Info for Lokiloo

Don't give up the day job pal.

https://www.dailymail.co.uk/news/article-11320897/Britain-like-German-like-ITALY-GREECE-says-ex-Bank-boss.html

The UK economy is now alongside Italy and Greece in terms of risky bets for lenders and politicians are not being honest about the problems facing the nation, a former Bank of England chief warned today.

Sir Charles told Sky's Sophy Ridge on Sunday: 'Frankly I think it is disingenuous to say it's all a global phenomenon – it's not.

'There is a global element and if you look at the general level of interest rates, they have risen by about three percentage points since the beginning of the year.

Three-quarters of that, two-thirds maybe, is the world and what's happening in the Ukraine but the rest of that is a UK specific phenomenon and it's particularly developed since the mini-budget so it is clearly driven by that in my view and basically, we've moved from looking not too dissimilar from the US or Germany as a proposition to lend to, to looking more like Italy and Greece.'

YAY LIZZ! YAY CONSERVATIVES!!

'I have taken soundings of many Tory MPs, and of those whose business is to know the minds of Tory MPs. All think Liz Truss will have to resign, that she has failed so comprehensively in these opening weeks that there is no route to redemption. ' Peston

'She has my vote, she's the best thing since Bozza' GateBoy 'the Y-front around knees wearer'

Thatcher has a lot to answer for as it was she who waived the rules and let that **** Murdoch gain so much power.

I think you'll find there was plenty of support for Brexit in the media too.

'It's the Sun what won it'

I'm an Arsenal fan.

Gazzleberry i have wanted the first past the post system changed for decades now. When we had the chance i remember there was a concerted effort by our press to convince the electorate not to go for it. As is usual in this country, the mugs vote for whatever the press tell them to.

No, politics are not like football. Only an ignorant bigot chooses a political party without thought. I'm not a die hard Labour voter (and i'm certainly not a Tory). Unfortunately with our 'first past the post' system we have little choice. Our 'democracy' is farcical.

'Shadow chancellor John McDonnell has called for Andrew Bailey’s appointment as governor of the Bank of England to be delayed until questions have been answered about ‘failures’ during his time as chief executive of the Financial Conduct Authority (FCA).

Bailey (pictured) was announced as the new head of the Bank of England at the end of 2019. He has faced criticism over his approach to Neil Woodford’s funds and the collapse of mini-bond provider London Capital & Finance (LCF) during his time leading the regulator.

Speaking at Treasury questions yesterday, McDonnell pointed to the large dividend payments handed to directors of Woodford Investment Management last year.

‘From the filings lodged today at Companies House, it is reported that £13.8m of dividends were received by Woodford and his chief executive in the 12 months leading up to the crisis that engulfed Woodford Investment Management, and affected so many investors deleteriously,’ he said.

‘This adds to the concerns already expressed by others, that Bailey was ASLEEP AT THE WHEEL during his period of office at the FCA. Could I suggest to the chancellor that it would be appropriate to postpone Bailey’s installation in office until an independent inquiry into these failures in financial regulation has taken place?’'

GateBoy, may i suggest whenever you decide to appear herein in future you save yourself and indeed my good self (more importantly) a LOT of trouble and just write 'here i am, bent over, can we get it over with quickly please', in future.

Night night (you're just too dim).

F******CK MEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE! This is like conversing with a ******.

PAIN! PAAAAAAAAAAAAAAIN!

Nice try GateBoy.

The point of the matter is that the UK is in a far FAR worse position comparatively because of the precarious position the likes of you placed us in, with your ignorant pro Brexit vote.

Nobody stated that others in the world are not feeling the effects, dullard.

(cough!)

'Whose fault is it that interest rates and inflation is going up..' GateBoy 'the unseeing'.

'Historians will look back and see a point of origin to the current madness, one that explains how a new prime minister could see her administration fall apart in a matter of weeks, even if we struggle to name that cause out loud right now. When the textbooks of the future come to the chapter we are living through, in the autumn of 2022, they will start with the summer of 2016: Brexit and the specific delusion that drove it.

They will point to the obvious impact of Britain’s decision to leave the European Union, and the role that played in upending a country once renowned for its stability. They might begin with the basics. Exit, they will write, shrank the UK economy thanks to a 5.2% fall in GDP, a 13.7% fall in investment and a similar drop in the trade in goods. That self-inflicted contraction helps explain why Britain felt international shocks – surging inflation, for example – harder than most. If your economy is smaller, you either have to tax people more to pay for the services they expect, or you cut those services, or you borrow. There are no other ways out.'

Christ knows what MVarma is 'getting at' but i can tell you precisely what BMW are getting up to. They had their plans for electric car production within the EU in place before today (OUCH!).

'Internationalisation.
The BMW Group aims to achieve a global balance in its production between Asia, the Americas and Europe. Its production system is characterised by unparalleled flexibility, a high level of efficiency and robust processes, enabling the company to respond quickly to market changes and regional sales fluctuations. The BMW Group production network comprises a total of 31 locations in 15 countries. Across its production network, the BMW Group implements innovative technologies from digitalisation and Industry 4.0, standardised processes and intelligent composite construction. The production system ensures consistent premium quality and offers a high level of customisation. MINI customers, for instance, have the option of configuring selected components to individual specifications and preferences. To ensure long-term capacity utilisation across the production network, with the ability to respond quickly and flexibly to customer wishes, the BMW Group’s strategy is to integrate production of fully and partially electrified vehicles into the existing production system. In Europe, each BMW Group automotive plant will also produce electrified vehicles in the future. The opening ceremony for the BMW Group’s newest plant was held in June 2019 in San Luis Potosí, Mexico.'

'BMW is to axe all UK production of the award-winning electric Mini and relocate it to China, dealing a major blow to hopes that Britain could be a global hub for zero-emission vehicle manufacture.'
BMW makes 40,000 electric Minis per year at its Cowley factory on the outskirts of Oxford.

In an article published by the Times on Saturday, it was confirmed that BMW Oxford’s production of electric vehicles will end next year as part of plans to reshape the carmaker’s lineup from 2024.

The move is a further blow to the UK’s ambition to become a leader in global electric car manufacturing, following Honda’s decision to quit Britain in 2016.
BMW’s decision comes after reports that Britain’s only planned large-scale battery factory, being built by Britishvolt in the north-east of England, will go bust if it does not receive a £200m rescue package.

Only a year ago, Boris Johnson, then prime minister, promised at the Cop26 climate summit in Glasgow, to fund a “£1bn electric car revolution” in the UK “creating hundreds of thousands of jobs”. His predecessor, Theresa May, intended that Britain would become “a world leader” in electric vehicle manufacturing and made it one of the “pillars” of her short-lived industrial strategy.
Kwasi Kwarteng, who was sacked as chancellor on Friday and replaced by Jeremy Hunt, said last year when he was business secretary that the electrified automotive industry would be “front and centre of Britain building back better”.

Somebody around here is..

From the link you so kindly supplied..

'The Government’s estimates indicate that the economic benefits of the agreement are likely to be very small. The Government’s scoping assessment, carried out before the negotiations started, showed a negligible (0.00%) impact on UK GDP. This assessment suggested that an agreement with New Zealand could have a negative impact on the agriculture and semi-processed food sectors and on Northern Ireland.'

I imagine undercutting our farmers wouldn't be the aim of the game.

The New Zealand based news programme Newshub recently had a segment on the deal struck with the UK which will see kiwi meat imported into Britain without tariffs.

New Zealand television is completely mystified by the amazing #Brexit trade deal Liz Truss keeps boasting about. They can’t understand why she would want to make British farmers poorer and theirs richer. Even the winning side can’t fathom it. ???????pic.twitter.com/sNiOoNl2gu

— Brendan May (@bmay) July 22, 2022
So much for the “vast opportunities” Truss was promising Brexit would bring.

Indeed, those opportunities are so great that even the winning side in this deal seemed to be struggling to grapple with why anybody would put it into place.

The deal will see a quota of tariff-free lamb exported to the UK increase sharply over the next 15 years and then it becomes a “free for all,” as the reporter explained.

Truss struck deals with both New Zealand and Australia when she was appointed trade secretary by Boris Johnson in July 2019 and oversaw them until she was made Foreign Secretary in September 2021.

The reporter continued: “While the deal is expected to boost New Zealand’s GDP by $970 million or around 0.3%, the impact on Britain’s economy is expected to be negligible.”

And all this, a trade deal organised by a candidate who wrote in their Telegraph column on Tuesday that “I am the only candidate with a clear and credible plan for economic growth”. (AAAAHAHAHAHAHAHA!)

You wonder why someone whose running for a position where you’re meant to do your best for the country would brag about a deal set to make those living in it POORER whilst farmers millions of miles away profit.'

LTI, it seems it is you who are 'clueless'.