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Topic History of: Strange Economics
Max. showing the last 5 posts - (Last post first)

Author	Message
Barney	But our self-imposed deadline to finalise Brexit has now become our most tantalising and bizarre strategy. Seeking to change trade terms with one of our biggest set of customers could be better timed - when we're funding coronavirus. Consumer spending is paramount, for the economy to kick-start - but people will tend to watch their cash, in fear of redundancy and more unforeseen problems. Economic policy should be reassessed after our largest catastrophe in years - which will shrink out economy by 15%. New circumstances need new plans.
Barney	The borrowing figure for April has just been announced; it's just over £61 billion. Biggest one month increase ever - and (worryingly) twice what anyone was predicting. Furloughing cost £14 billion - and the increase is over £50 billion more than that of April 2019.
Barney	For the first time in history, the UK has borrowed money - this week - at a negative interest rate. Of -0.0051%. Meaning that the repayment amount will be less than that borrowed. And there's more free money readily available. Because of our current good credit rating - and because investors are seeking safe havens for their money, rather than a return. Just as well as the Chancellor thinks we may soon need to borrow close to £300 billion - to pay for coronavirus costs. Consequently, covering interest on our increased National Debt - as a result of this borrowing - will be problematical. Even now, we're paying over a billion pounds a WEEK, in interest - on our existing Debt - which is around £2 trillion.