Friday, 14 May 2010

Sterling: Time And Tide ...

Well, that didn't last long ... the Emergency Budget had better be good.

And sooner rather than later please, George.

ND

6 comments:

CityUnslicker said...

Ewven better, despite the weak pound manufacturing output is not really increasing beyond the depths of the great crash.

Bill Quango MP said...

As said yesterday CU ..import prices are really rising. Have added 10% AGAIN already this year. And business is slow. Didn't think it would actually get worse than in 2009 but it has.

Budgie said...

CU said: "... despite the weak pound manufacturing output is not really increasing beyond the depths of the great crash."

That is not surprising and engineers have been warning of this result for decades. We no longer have a comprehensive industrial infrastructure left.

Consequently British industrial manufacturers have to import even basic items like steel bars. Hence their flexibility and delivery times are compromised. Instead, the end users import finished goods directly, thereby continuing the vicious downward spiral.

It will take a lot more than a couple of years of a low pound to rectify. We probably need 20 years to rebuild to the level of German manufacturing (pro rata). The ability and skills are there, but the political will, even the political understanding is not.

Sebastian Weetabix said...

@Budgie - Amen to all that. But manufacturers' biggest problem is going to be in a few years time, when the lights go out. I stand (as a German colleague once said) "negatively astonished" at the appointment of that prime arsehole, that harbinger of windmills, Mr. Christopher Paul-Huhne MP.

mutleythedog said...

Stuff em I say. Lets abolish tax and tell the debt collectors to f off. I for one don't owe them anything and I fail to see why I should pay for bankers errors. Tax bank profits at 99 % till they have paid back their gambling debts I say. I don't have a mortgage and when I ask for one they give me a leaflet about borrowing into retirement... I couldnt care less where the interest rates is. Go with the libs and separate the ladbrokes wing of banking from the rest of it, and let them pay their own bar bills. After they have paid back all their bonuses etc for the last ten years. Its a deal under the Proceeds of Crime Act...

Electro-Kevin said...

Coalition formed and a new party created..

the Con-Dems

(H/T Peter Hitchens)