The BBC in full-on pro-EU mode with this..heard it on the radio and knew what was coming...here it is in black and white, an ‘analysis by the BBC’s Andrew Verity….
The UK’s current account deficit widened to a record high in the final quarter of last year.
The deficit in the three months to December was £32.7bn, the equivalent of 7% of GDP, said the Office for National Statistics (ONS).
Here’s the problem. If more money is flowing out than flowing in, companies and governments have to borrow from abroad to make up the difference. That’s fine, so long as there’s confidence in the UK’s economic future. Companies can borrow by issuing bonds, paying modest rates of interest (as can governments) and foreign investors will gobble them up.
If confidence takes a knock – if, for example, there’s a sterling crisis or other economic shock – then those foreign investors may be a little more reluctant to buy those bonds. In which case, those foreign investors may demand higher interest rates, which may well get passed on. Now can anyone think of any scenarios like that?
That bit speculation was followed by this in the main body of the report..
Stability fears
Earlier this week, the Bank of England’s Financial Policy Committee warned that uncertainty over the UK’s membership of the EU posed risks to financial stability, with implications for the current account deficit.
Howard Archer, chief UK and European economist at IHS Global Insight, described the fourth-quarter current account figures as “truly horrible” and “a particularly uncomfortable development for the UK economy”.
The BBC panhandling for Brussels spinning the scare stories?
Note this is from the BBC that has consistently supported borrowing and spending, sorry, investing, vast sums to stimulate the economy when interest rates are so low…now apparently that was all ludicrous bull.
And that left-wing, BBC Trust, Climate Censorship loony, Richard Ayre, has written a grossly hypocritical article for the Guardian: He’s worried about the Tories replacing impartial Labour supporters with biased Tory supporters, also he seems to blame Lord Hall for the loony BBC censorship policy for climate science, scientists and scientific debate. Ayre is very worried about the Tory Culture Secretary and Mensa member, John Whittingdale, who studied Astronomy at university, making most of the appointments for the new set up at the BBC.
Richard Ayre asks, what will the British public think of a BBC with a board packed with political appointees? (Whittingdales: ex-Tories, Tory supporting, Daily Mail reading practical science enthusiasts, rather than the current leftovers from the Blair years, the ex-Labour, Labour supporting, Guardian reading green environmentalist types). He asks, what will the UK’s enemies (EU supporters) in every dictatorship (The Tories where democratically elected) around the world “tell their people” (Internet research tells me that RT is more truthful than the BBC, due to ex-Blairite control of the BBC) about a BBC apparently run by ministerial placemen (Whittingdale is a democratically elected Libertarian), just as their own broadcasters are? (So as it has always been with the BBC, since its foundation as state imposed monopoly broadcaster by the “not free, like the free press” lefties in the 1920‘s). And true Tories (Once they get rid of the barking pro-EU Camerloons) would give independence to the BBC by setting it free from its state imposed Charter obligations and state enforced funding.
http://www.theguardian.com/media/2016/mar/27/bbc-governors-independent-politicians-clementi
Great post RP.
Typical devious left scum pleading foul play when the system they are desperate to abuse goes against them
The squeaky clean and forever neutral BBC are also currently targeting football fans with their hysterical pro E.U. scaremongering…Who would have thunk it?
http://www.bbc.co.uk/sport/football/35919247
You know, it’s a bloody mystery how this country managed to build such a massive annual deficit under Brown.
Putting it another way, the BBC have never explained it to me. Except… was it those nasty evil bankers (who Brown had nothing at all to do with, apparently) who created it? Or Fatcher maybe?
Everything has faded into mist, as the saying goes (and we Orwell fans know what comes next, don’t we….?)
If money is flowing out rather than in ”
Which happens when half the workforce sends its earnings home to Poland or wherever ,plus benefits to children in other lands .
Remember the extra 1.7 billion the EU calculated that we must pay in ? Some of that was based on prostitution , did they check if the slappers were English or aren’t they bothered if the pimps were also foreign ?
( remember Dave said he wasn’t going to pay it , but he did later ) .
Was that another of Dave’s cast iron commitments?
Rob in Cheshire
How about this ?………………………
https://www.gov.uk/government/news/prime-minister-pledges-to-control-and-reduce-immigration
Tax the money exchanges. 100%. You want to send £500 to Poland that will be £1000. Mind you the government would probably spend the extra income on asylum seekers.
Come on boys, look at the date – 1.4.2015!!!
Cancel that – The beeb don’t have a sense of humour ( or any sense of anything else come to that).
April Fuel – I’ve just ordered a 6 Litre Mustang 😀