The figures on the front page of the FT make for shocking reading, in January UK exports to France fell 20%, to Germany 30% and to Italy 70%. All of these need to be taken with a huge pinch of salt, it is impossible to know how much of that was down to covid, stockpiling ahead of Brexit, initial teething problems and even perhaps a post Christmas slowdown.
4% reduction in GDP ordinarily would not be too bad in the short term. But in the immortal words of Derek Trotter we have to "sell, sell, sell!"
Yes small to medium sized businesses need to find new markets but the best businesses will bounce back. I think of a cheese truckle business from Cheshire. Their cheese is so good I'm convinced they will recover.
We were too comfortable and the EUs games will certainly make our companies revisit their business models to assess trade profitability. And if the EU are too successful in taking our business away from us they will lose out from our reduced buying power, fewer high ticket sales such as cars.
Equally the aggression shown by the French President just gets our hackles up.
With borrowing at 85% of GDP and GDP falling that is starting to put the UK into financial difficulties. I doubt there his a person in the country who doesn't think NHS staff don't deserve a greater than 1% pay rise BUT with GDP taking at least a 4% hit you cannot payout what you are not getting in in taxes or borrowing.
Thanks Jonty, as usual your journal is apposite and incisive. On statistics, I would be happier if you could specify the basis of comparison of the January export figures. Thx, Jack
4% reduction in GDP ordinarily would not be too bad in the short term. But in the immortal words of Derek Trotter we have to "sell, sell, sell!"
Yes small to medium sized businesses need to find new markets but the best businesses will bounce back. I think of a cheese truckle business from Cheshire. Their cheese is so good I'm convinced they will recover.
We were too comfortable and the EUs games will certainly make our companies revisit their business models to assess trade profitability. And if the EU are too successful in taking our business away from us they will lose out from our reduced buying power, fewer high ticket sales such as cars.
Equally the aggression shown by the French President just gets our hackles up.
With borrowing at 85% of GDP and GDP falling that is starting to put the UK into financial difficulties. I doubt there his a person in the country who doesn't think NHS staff don't deserve a greater than 1% pay rise BUT with GDP taking at least a 4% hit you cannot payout what you are not getting in in taxes or borrowing.
Thanks Jonty, as usual your journal is apposite and incisive. On statistics, I would be happier if you could specify the basis of comparison of the January export figures. Thx, Jack