RE: Results11 Jul 2025 14:57
By 2030 the headcount will be reduced by around 50,000, the pension deficit all but wiped clean and the fibre network pretty much done. Those are the things we know.
What we don't know is what the world will look like in five years, from the perspective of armed conflict - otherwise known as war - and politics. Russia is a big problem in many ways and if the US is not willing to engage with Putin, along with Europe, and face him down, then I fear we are looking at a very dangerous future, leading to uncertainty in economies, which is exactly how Russia wants it. They have played their game of undermining the cohesion of the EU and the west with some success because the idiots in the EU just do not understand Russia or how Russia works. Russia is nobody's friend and does not want to be anybody's friend. Until Putin is removed Russia will continue to be an aggressor and an enemy. It didn't have to be this way.
The political stage is changing in Europe, there is a profound move towards the right, driven by the seemingly unstoppable flood of immigrants from areas of strife and millions of economic migrants who bring with them nothing of value. This is a huge problem that politicians do not want to deal with and an even bigger problem for the citizens of those countries that have seen untenable numbers of human beings from alien cultures being foisted upon them. The UK has given up trying to stop the daily armada of rubber boats - if there was ever any real desire to stop it, which I doubt. The French won't do anything to prevent them leaving their shores, why would they? Every migrant that leaves in a dinghy is one less problem for them. We are constantly told that these are desperate people fleeing strife and conflict. Some of them are. But many of them are simply desperate to get here for economic advantage and most notably the NHS. This is a huge magnet and because we have no national identity card the NHS has no way of checking who is entitled to medical treatment for free and who isn't. Every boat that arrives is a drain on public services and hence we are being taxed until our pips squeak. More tax seems to be the only answer that Rachel Reeves can come up with. As we all know, you cannot tax your way to growth but you can tax your way to economic stagnation and massive unemployment. The portents are not happy and all this will have an effect on economies and business.
Be that as it may, BT is in a good position to make progress and increased profits and it seems the major shareholders are happy with the strategy. What the SP will be in five years I cannot say. With BT there's always the possibility of something coming out of nowhere to capsize the ship. Remember Francois Barrault's worthless contracts? The Italian scandal? The almost fatal Concert fiasco? Who knows where the BT share price would be had these events not occurred. I will only say that if BT gets to £2.50 before Christmas, I'll be happy.
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