They said this would happen due to Brexit uncertainty

[original PM]

I know I'm repeating myself everytime I reply to your comments, but you really don't get basic economy!!!!

Well rather than being obtuse about it - why not explain why a wage rise is a bad thing?

[Old Greg]

Well rather than being obtuse about it - why not explain why a wage rise is a bad thing?

Keep up! The discussion has moved onto currency depreciation.

[BrilloPad]

Keep up! The discussion has moved onto currency depreciation.

Which makes exports better. But I suppose that is bad and its all the fault of Brexit.

In other news its raining. And I blame Brexit for that as well. We used to have proper continental hot weather. This summer has been miserable. Once the UK leaves the EU properly I expect a winter to rival 1963.

[meridian]

They said this would happen due to Brexit uncertainty

Which makes exports better. But I suppose that is bad and its all the fault of Brexit.

Are you saying that the currency devaluation is not directly connected to a No Deal Brexit?

As for exports being better, like anything there will be winners and losers and keeping-evens. For manufacturer exporters that are at the start of the supply chain and have their own U.K. raw materials, they may very well be winners. For those in the middle of the supply chain that need to source raw or semifinished from outside the U.K. they may keep even, balancing the increased cost of imports against the increased income from exports.

For consumers at the end of the supply chain, in an economy where we consume more imported finished goods, they will be losers.

Which grouping do you fall under?

[Old Greg]

Which makes exports better. But I suppose that is bad and its all the fault of Brexit.

In other news its raining. And I blame Brexit for that as well. We used to have proper continental hot weather. This summer has been miserable. Once the UK leaves the EU properly I expect a winter to rival 1963.

And makes imports more expensive. What are you going to do, start eating financial services?

[CryingSheep]

Well rather than being obtuse about it - why not explain why a wage rise is a bad thing?

No one is saying a wage rise is a bad thing, just a consequence of free falling currency value and record inflation values... Let's see if those rises are enough to keep the same buying power! I doubt it...

[CryingSheep]

Which makes exports better. But I suppose that is bad and its all the fault of Brexit.

In other news its raining. And I blame Brexit for that as well. We used to have proper continental hot weather. This summer has been miserable. Once the UK leaves the EU properly I expect a winter to rival 1963.

I feel like we are going in circles here! Of course is (in theory at least) good for exports, but very bad for imports.

UK having a negative net exports I think it's easy to understand it has the potential to cause more harm than good!

For big companies that profit heavily from exports this are great news, for the average person not so much...

[NotAllThere]

Well rather than being obtuse about it - why not explain why a wage rise is a bad thing?

The headline is not that wages are rising, rather that the rate at which they're rising is rising. Acceleration, rather than speed.

[BrilloPad]

Are you saying that the currency devaluation is not directly connected to a No Deal Brexit?

It is definitely connected IMO. I think uncertainty is bad for the UK.

And makes imports more expensive. What are you going to do, start eating financial services?

I would like to change that. I reckon UK is too heavily dependent on financial services - which is great for me but not for the UK. Making things on the other side of the planet then shipping them round the globe is not exactly great for the environment either. You may say I'm a dreamer....

I feel like we are going in circles here! Of course is (in theory at least) good for exports, but very bad for imports.

UK having a negative net exports I think it's easy to understand it has the potential to cause more harm than good!

For big companies that profit heavily from exports this are great news, for the average person not so much...

See response above.

[Old Greg]

It is definitely connected IMO. I think uncertainty is bad for the UK.



I would like to change that. I reckon UK is too heavily dependent on financial services - which is great for me but not for the UK. Making things on the other side of the planet then shipping them round the globe is not exactly great for the environment either. You may say I'm a dreamer....




See response above.

So the UK could retool its financial services industry into jam, tea and biscuit production.