Great decision and good work to get the Chinese on side. Our bank has been talking about this for a while and if China is ever going to become a respected part of the international community then moves like this have to be made. This will lead to the eventual easing of the RMBUSD peg and free float of the RMB which is good for all of us.
Also look for this as the first of a number of moves to increase our trade with China. I expect our exports will increase from around £7bn last year to around £10bn this year and up to £20bn the year after. Not only that, but with London becoming the first real offshore trading centre for RMB the inwards investment from Chinese companies will be pretty huge and deals like the one we brokered last month will be much easier. This is great news for the UK and even though it seems like a small deal, it will eventually turn the UK into the first choice destination for Chinese business in Europe and second only the US in the world.
Deals like this will rebalance the economy in the long term and bring in fresh investment in UK PLC and as many people might have guessed I'm extremely pleased with it. It does, however, mean that I will be reassessing my move to China since China is now coming to London...
(...)
Some say that at £920bn, around 64pc of GDP, UK national debt is rather low. Using the same Maastricht definition applied to the likes of Greece and Ireland, British government debt is actually 75pc of GDP. Consider, also that Britain has public sector pension obligations of another £1,150bn which need to be met only over time, of course, but the bulk of which will come directly from future tax receipts, rather than investment funds, hindering our ability to pay interest on other future debts. Then there are other multi-billion pound hidden government liabilities, not least those related to the disgraceful private finance initiative.
Even excluding these extra fiscal burdens, and sticking to the more flattering non-Maastricht methodology, UK debts soar between now and 2015. By the time we reach zero deficit a moment when the Coalition, if it still exists, will go into uber-spin mode, probably issuing a commemorative postage stamp official estimates put government debt at more than £1,500bn no less than five times more than at the turn of the century and three times more than in 2008. And that assumes the UK economy grows as planned and austerity is implemented in full.
(...)
Could you not still do China for a year or so?
http://www.telegraph.co.uk/finance/...be-a-warning-about-hidden-UK-liabilities.html
Is it really as bad as it sounds or is this more scaremongering? These kind of articles make me feel so depressed...
http://www.bbc.co.uk/news/uk-england-london-16616790
Ugh, the Met continues to be a fucking parasite.
I'm a bit surprised at all the speaking clock stuff (doesn't anyone synchronise watches any more?).
Not in the least surprised at vast numbers of calls to directory enquiries, since under PACE 1984 s24(5)(a) for an arrest to be valid one of the key grounds is believing the arrest to be necessary in order to ascertain name and address of the suspect. Directory Enquiries seems a pretty good way of checking on the validity of details given by a suspect, and because it is independent of the police there's a good chance it will stand up in court.
Sure, it could doubtless be done more efficiently in-house, but the evidence could be challenged, you'd need to put more police officers/civilian employees into the witness box. I suspect on the whole the directory enquiries service ends up cheaper. Though what they ought to do is get a bulk discount of course.
CHEEZMO;34533778 said:Someone should just make a BritGAF thread.
CHEEZMO;34533981 said:I want somewere I can talk about Irn Bru candy bars and make references to Emmerdale characters.
You watch Emmerdale?
Without a proper BritGAF thread I can't really think of a better place to put this, but I have provisionally accepted the job in Shanghai and I start at the end of January. I will be a senior analyst of global markets, it's a pretty broad job title, but it just means I can work on any account I want.
Gosh, starting that quickly?
Good luck mate. Sounds promising.
This country will never reach anywhere as long as the morons in charge think the city is the best thing after the North sea oil.
Where the fuck has manufacturing gone? This country economic output is seriously flawed and unbalanced. No wonder the germans are laughing at the brits.
Do yourself a favour and stop reading The Sun.
Is he wrong? I doubt the Germans are laughing at us, but the economy is far too dependent on the whims of the City.
Can't tax too much, can't shutdown the tax loopholes, etc, as it will drive them away.
It's all a bit hysterical, there's areas where we need to improve and drive forward but show me an economy that doesn't
Public sector net debt excluding financial interventions, such as bank bail-outs, rose to £1.004 trillion in December, as the Government borrowed nearly £14bn last month despite its continued austerity drive.
Do yourself a favour and stop reading The Sun.
That wasn't his point, his point was that we're far too dependent on a section that will be all too happy to abandon us as soon we decide to get a little tough with them.
Focusing on increasing manufacturing would be a good idea going forward, it's working wonders for the German and many other economies and would help to drive down unemployment at the same time and it would serve as a nice buffer for when the city decide to screw us over...
CHEEZMO;34533778 said:Someone should just make a BritGAF thread.
id make a britgaf thread but you're all scum who i do not want to be associated with.
surely it's not too big of a problem to start a UK GAF thread?
there's shitloads of city ones, NYC/Chicago/Toronto etc. so I don't see why we aren't allowed.
Someone should make an Eng-GAF thread and let the Scot-GAF thread do it's own thing.
If we can refrain from making the new thread look like a 12 year old's bedroom wall, I'm sure it'd be ok.
ftfy.Osborne is a twat.
We had a BritGAF thread and it was killed because we're a bunch of unfriendly bastards.
What we really need is a SmokyDave Appreciation thread where we all post our favourite things about me. Pictures, videos and interpretive dance would be welcome, as would cash gifts.
and because meadows threatened to murder the op with an axe.
CHEEZMO;34555500 said:But the OP was YE so I can't blame him.
I will admit that my introduction of Lucy Pinder to the BritGAF thread made it simultaneously the worst and best thread on NeoGAF.
Brit-Gaf thread became poor mans FHM issue, we tried to arrange a meet up but got all British about it so it never happened.
In summary Brits are great at socialising with other nationality's but crap with each other.