UK loses £490bn down the back of the sofa - Politics | PoFo

Wandering the information superhighway, he came upon the last refuge of civilization, PoFo, the only forum on the internet ...

Talk about what you've seen in the news today.

Moderator: PoFo Today's News Mods

Global banks and international bond strategists have been left stunned by revised ONS figures showing that Britain is £490bn poorer than had been ­assumed and no longer has any reserve of net foreign assets, depriving the country of its safety margin as Brexit talks reach a crucial juncture. 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.

“Half a trillion pounds has gone missing. This is equivalent to 25pc of GDP,” said Mark Capleton, UK rates strategist at Bank of America.

19tory2.jpg (31.92 KiB) Viewed 738 times

Making matters worse, foreign ­direct investment (FDI) by companies is plummeting. It fell from a £120bn surplus in the first half 2016 to a £25bn deficit over the same period of this year.


That's a level of fucked up numbers on par with the magic math trumps administration has been using for tax reform and it's healthcare bills.

Seriously, how do you lose 25% of the GDP of a country on your spreadsheets?
There's nothing to see here, just stupid sensationalism.

The UK's assets are at around 600% of GDP (>10 trillion pounds) and its liabilities approx. the same. A net liability of 22bn pounds is nothing.
Obviously the net depends on the exchange rate among other things, which is rather volatile.
Rugoz wrote:There's nothing to see here, just stupid sensationalism.

It is just another Europhile (Ingliz) whining about losing the Brexit vote.
Ter wrote:Europhile

Homo economicus.

If there is no Brexit deal, I am likely losing half my pension.

The rights to export benefits are some of the most contentious in Brexit talks. Nobody seems to know if the Social Security Reciprocal Agreement, in place before Malta joined the EU, will be reinstated when the UK leaves the Union.

As to the article.

The OBR always tries to please it's master (independent, it is not), and the numbers always gild the lily, but to be out by 25% of GDP...

The Austin Bomber

I bet the Deep State taught him how to make bombs […]

Medieval Europe abided by a firmly Christian ideo[…]

The car didn't react at all. A human driver would[…]

To the OP. Why did you not answer my questions? […]