Well a question no one in the world can answer satisfactorily is, what is coming from Bank of England? If you have a mortgage and lots of other debts it is good news for you. The Bank of England Policy committee has voted in favour of keeping the rates on hold. On the other hand if have a savings account forget about an increase in your earnings.
The Bank has held off popular investor belief that rate rise would certainly come in the New Year. The economic storm has forced the Bank to put on hold the rate rise till 2018. That is really a great shift from the earlier 2016 rate rise. The inflation indicators also expect the earliest to be early 2018. Well does anybody in the Bank know about what next? A big No as the dipping oil prices and the volatile labour market makes predictions really difficult. This will trickle down to bank earnings and ultimately the people who save. So this is the right time to avail loans and invest your money rather than keeping it in the bank. That is what the economy indicates. The consumer inflation targets of the bank which is 2 % will now only be reached by the end of 2017. So happy days for people with Loans and people who want a loan. What it augurs for the future? The prediction is difficult.
As the date for the Scottish independence referendum draws closer, there has been continued debate over whether Scotland will retain the pound. It feels like there is an increasingly heavy voice coming out of Westminster warning Scots that a vote for independence will be a vote to lose the pound.
But will this hold any sway with the Scottish voters? The mood of the Yes campaign seems heavily based around the heart strings, with little talk of practicalities – after all people are led to believe that Scotland can survive on its vast energy reserves, and without the burden of Westminster drawing its share, will have much more freedom to spend it wisely. This is a huge risk on the part of Scotland, if the gas prices fall (or worse, they have seriously over-estimated the size of the reserves) they have very little to fall back on, and an independent economy could leave them struggling.
Meanwhile those No sayers down in London are also trying to use emotional rhetoric – a Yes vote will mean the loss of many symbols held dear including the sterling. Again there is no clear debate on the impact on England of retaining the pound without the union and seems mainly fuelled by certain English antagonism towards Independence – with the attitude of a jilted lover, if you leave you take nothing.
Well more money into the UK from China in 18 months, than in the past 30 years. China invested over 8 Billion pounds in 2012-13, and this week after a meeting with David Carmeron, The Chinese premier Mr Li, along with a very large business delegation, are likely to invest another 18 billion pounds in the UK, within energy and finance.
Visa changes and a visit with the Queen at windsor castle probably helped ..alot
UK Business is Global
The Global economy is built on relationships between governments, and countries. This is the most important and simplest way to build a countries economy and it beggars belief, some of the restrictions that stop this happening, and seem to be farcical in their most basic form. Like visas for instance, you may or may not know, that The UK is not part of the “shengen visa system” This is an open visa sysyem that allows business people, from around the world to visit 26 countries, in and around europe, with a single Visa…. but hey! not the UK.
Well it seems a quick visit from The Chinese premier to the UK this week. maybe it was meeting the Queen….and changes that should have been made years ago happen overnight, and a single “shengen” visa has been approved for chinese visitors and it will be easier for chinese visitors and business people to enter the UK using a shengen visa, but still this is not extended to the other shengen visa countries WHY?