Member Info for TheFarEnd

ASI.

I think you'll find that political events weigh a lot more on markets than you imagine.

And this.

“They’ve got a long way to go before they can outperform the mess left by the Conservatives.”

The 14 years being mentioned at every opportunity which after all is just a soundbite repeated to brainwash the masses.

What they don't mention is the state they left the UK in.

A reminder. The last labour government limped from office in 2010 and we're thankful voted out.

The mess they left was unprecedented. It wasn't called the great recession for nothing. Labour left a large budget deficit, rising national debt, and high unemployment.

See where I'm going with this?

To be fair, in early 2010 there was modest growth of 0.2% but that was from a baseline contraction of over 6%. The deepest recession since records began.

Then the unemployment situation, this is where labour really excels. They have never left office with unemployment lower than when they entered office.

It was 8.0%, approximately 2.5 million people.

Don't mention public finances. The deficit quadrupled, public sector net debt doubled to around 75% of GDP, in percentage terms that's less than they keep banging on about now.

Who inherited this mess?

It wasn't the Tories it was a Tory Lib Dem coalition, subject to the terms of that agreed coalition.

Then we had CPI at 3.4% and a base rate of 0.5% and falling, imagine that.

The so-called challenges labour keep on about now are absolutely miniscule compared to back then.

The black hole this lot keeps on about was £157 billion back then, and that was 15 years ago. That's equivalent to £268 billion today.

This labour shambles don't know they're born.

In the words of Harold McMillan you never had it so good.

Enjoy your evening on your phones etc.

FTSE down over 130 atm.

Nasdaq 100 down 1.5%.

RG27

“Shen now needs to find substantial amounts of tax elsewhere. Banks will certainly be an attractive target.”

Don't disagree, however reports are circulating that the latest OBR figures are not as bad as predicted, we'll see. Its all hypothesis ATM. 🙂

This is the reason they are reportedly now sticking to their manifesto, well the three main taxes at least.

Of course, when has the OBR been right on its predictions?

Either way it's a $hit show.

“The upcoming UK Budget on November 26 is expected to bring significant tax changes that could impact various sectors differently, with analysts assessing potential implications ahead of the JPMorgan UK Leaders Conference on November 18-19.

Banking analysts anticipate a 3% increase in the banking surcharge as the most likely outcome, which would reduce earnings per share by approximately 4% for Lloyds Banking Group PLC (LON:LLOY) and NatWest Group PLC (LON:NWG), 2% for Barclays PLC (LON:BARC), and 1% for HSBC Holdings PLC (LON:HSBA), with minimal impact on Standard Chartered PLC (LON:STAN). Recent reports suggest UK banks might be spared from additional taxes altogether.”

Dorfan, hypothesis but I'm just the messenger.

It's not done untill it's done, by then it's too late. 🥴

STP

"If you're not in, you can't win!"

Surely this morning, you mean if you're not in you can't loose.

Spks, it's being reported this morning that the government has dropped the reported income tax rise.

Just saying.

“The Pound to Euro (GBP/EUR) exchange rate slipped to its weakest level in 30 months on Thursday after disappointing UK GDP figures reinforced expectations for a Bank of England rate cut and heightened pressure on the government ahead of the autumn budget.”

ExchangeRates.org.uk -

“The Pound (GBP) came under renewed pressure on Thursday as fresh data revealed the UK economy had almost stalled in the third quarter.Figures from the Office for National Statistics (ONS) showed GDP growth slowed from 0.3% to 0.1%, with output in September unexpectedly contracting by 0.1%.

This marks the slowest quarterly expansion since late 2023, when the economy last flirted with a technical recession.”

“Analysts cited weak consumer spending, high borrowing costs, and production disruptions, including a cyber-attack at Jaguar Land Rover, as key drags on activity.

The weak figures strengthened bets for a Bank of England (BoE) rate cut in December, sending Sterling lower across the board.

Markets now price in a near 75% probability of a cut before year-end, amid fears that tighter fiscal policy in the upcoming autumn budget could further weigh on growth.

The data also piles pressure on Chancellor Rachel Reeves, whose government faces criticism for its handling of public finances.

A shrinking growth outlook complicates her efforts to close the UK’s fiscal gap without further spooking investors or worsening the slowdown.”

Another U turn won't help (income tax), what a mess!

FTSE off 70+ 😕

Nasdaq down 2.5%

Nasdaq 100 minus 2.25%

Dow down 1.38%

S&P minus 2.1%

P. s. I'm really offended 😋 you know who you are.

"The Govt release these snippets."

“Of course they do when it seen to advantage them but most is just pure speculation from a so-called ' SOURCE '.”

troublesome.

This so-called source you talk about was real enough for your PM to issue a statement, he seems to take it seriously. 😳

“Downing Street said prime minister Keir Starmer will fight any leadership challenge.”

“It comes as the BBC reported there are a number of high-profile names and Starmer allies that are being circulated as potential replacements for the prime minister if a coup is mounted, including health secretary Wes Streeting and home secretary Shabana Mahmood.”

Remember the BBC and the guardian are your news origins of choice, (you quote them often enough).

As we all now know…It must be true it was on the BBC. 🥴😂😂🤣 no fake news here. In fact most national papers also reported this.

This story had enough kudos that it was being blamed for the weak opening of the FTSE this morning by Yahoo finance

Check the link on stp post 13:30 hrs today.

Never mind Isaac Newton and 2060, you need to be on top of today's news.

Who gave you a tick up? My guess would be paddy, you're usually on here together.

"Certain media have been making predictions about the budget for months with the common intention of promulgating a mood of doom and gloom to suit their own political agenda"

You're obsessed with political ongoings. The government release these snippets to get feed back.

Something is missing from your post,, you never mentioned Lloyds after it. 🤔😂

Ollerdeekid, announcements by economic bodies are taken very seriously by institutions and are a major concern for investors of any standing.

The unemployment rate announcement this morning is one that is particularly important. Unemployment is a major barometer of how the country and in this instance the government of the day is performing, especially when growth is their number one priority.

Regarding your wondering if I actually own any Lloyds shares.

Compared to some on here my holding is quite small now, as I've been taking profit on the way up. Just looked, and the most I've held at one time is just over 300k that's shares not money. My holding now is somewhat reduced.

For clarity how many do you hold

I know anything posted on here cannot be verified but I'll believe you.

I wonder if I'll get an answer, any answer will suffice.

“The unemployment rate jumped to 5% in the three months to September, according to the latest ONS figures. That’s the highest level since December 2020-February 2021.”

Liz McKeown, the ONS director of economic statistics, said: “These figures point to a weakening labour market.” Meanwhile, the number of workers on company payrolls fell by 32,000 in October compared with September. Shadow Business Secretary Andrew Griffith said: “Labour ministers should hang their heads in shame. With young people most impacted, ‘Generation jobless’ is now happening on their watch.”

And this is before the (un)Employment Rights Bill and Reeves’ next tax raid land.

Its clear growth is non-existent and jobs are disappearing at an alarming rate. This is getting troublesome! No pun intended, hehe.

I wonder what state of misery these additional unemployed people are in?

High unemployment = higher defaults.

An economy and a population that is struggling is never good news for LBG.

"Overpopulation is a real problem - some might say its the only problem but everyone needs somewhere to live."

Is that your final answer trouble? Usually you have so much to say.

“Have family on the I.o.W, and many people who move there, say that is a prime reason why they upsticks from areas they had lived in all their lives.”

Aha yes I almost forgot wightlady, oops I meant Chid. 🙂

Never been to the I.o.W.

Sounds like in a future world you're advocating that it could become a giant gated community safe from the chaos on the mainland.

Lloyds Living does not have any properties on the Isle of Wight.

https://www.lloydsliving.co.uk/developments/

Regarding rent caps.

The government's stance

officially states that nationwide rent controls are not its policy. But of course you can never believe anything they say or publish.

But the so-called renters rights bill is going through which amongst other things limits rent rises to once a year and abolishes section 21.

Not sure how this affects Lloyds Living projected ROI but the (NRLA) National Residential Landlords Association supports landlord reforms but has argued that Labour's proposed rent policies could have negative consequences for both landlords and tenants.

I've no idea what Lloyds Living business strategy is but I assume sometime in the future they will start selling older properties and replacing them with new.

Chid, that veteran clip arrived on my WhatsApp yesterday. I replied sad but true.

blimey, i see paddyk has managed to post a comment without the words abusive, misogynistic and r ******.

not only was it getting a bit repetitive, it was completely unfounded.

there's hope for all.

Recent news reports indicate that Lloyds Banking Group's rental property portfolio has reached a little over 7,300 properties, very close to the 7,500 figure mentioned. This follows a quiet but significant expansion by the bank into the UK private rental sector through its subsidiary, Lloyds Living.

In late 2024 and throughout 2025, Lloyds

The bank is aiming to become a major player in the UK rental market, with an initial target of 10,000 homes by the end of 2025 and a long-term goal of 50,000 properties by 2030.

The properties are typically new-build, energy-efficient homes acquired through partnerships with major housebuilders like Barratt Redrow, Taylor Wimpey, and Gleeson Homes. The bank views this move as a way to diversify income and address the demand for quality rental properties in the UK.

Déjà vu

I thought we were back to 2008 for a minute. I wonder who was in charge back then 🤔 hehe.