Posted on 10/16/2017 12:35:53 PM PDT by Berlin_Freeper
Revised figures from Office for National Statistics’s (ONS) ‘Blue Book’ - which measures economic activity in the UK - show the Britain’s global investments have collapsed by £490billion.
The unexpected new numbers come as the UK enters a critical stage in divorce talks with the European Union, and effectively wipe out the country’s safety margin to deal with any economic damage caused by Brexit.
Mark Capleton, UK rates strategist at Bank of America, told The Telegraph: “Half a trillion pounds has gone missing.
“This is equivalent to 25 per cent of GDP.”
The stats also show a sharp decline in the amount of investment by overseas firms.
Money coming in to the UK from foreign businesses and individuals fell from a £120billion surplus in the first half of 2016 to a £25billion deficit during the same period this year, according to new stats.
(Excerpt) Read more at express.co.uk ...
All you other countries in the EU. This is the cost of your sovereignty.
I’m not following this. Where is the money disappearing from? London Stock Exchange? EU subsidies?
These figures reek of anti-Brexit BS.
Believe those numbers as if they came from Krugman.
You know, the dork who manages to be wrong about almost everything.
A massive write-down in the UK balance of payments data shows that Britain’s stock of wealth – the net international investment position – has collapsed from a surplus of £469bn to a net deficit of £22bn. This transforms the outlook for sterling and the gilts markets.
Interesting. UK investments lose $1T since Brexit vote, USA stocks gain $5T in comparable period.
American ingrates:
You’ll be nothing.
The French and Indians will scalp you while we laugh and sip our tea.
How dare you leave the greatest empire on earth.
Your offspring will regret your imprudence for centuries.
George III
“Where is the money disappearing from?”
Probably from fewer stock gains off American (and continental) stocks and fewer purchases of high-end UK property.
The stamp duty (tax) on an expensive UK property can be almost as much as the cost of the building materials.
“Money coming in to the UK from foreign businesses and individuals fell from a £120billion surplus in the first half of 2016 to a £25billion deficit during the same period this year, according to new stats.”
FWIW, EU seems just the latest incarnation of the perpetual intent of every major European country to dominate every other European country - this time, they just decided to do it all together at once. Isn’t working out either; only benefit this time is they’re not killing each other en masse.
I believe the UK produces about 65% of its own food needs.
“The unexpected new numbers...”
*DRINK*
Really? Who didn’t see this coming?
Are you SERIOUS?
The Icy Finger Of Death
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