Britain is £490 billion worse off than everyone imagined, as the Office for National Statistics updated its evaluation of the country’s accounts and concluded Britain has exaggerated its international assets.
We now owe considerably more to foreign investors than earlier speculated and overall it amounts a quarter of the UK’s Gross Domestic Product.
It comes merely six weeks before Philip Hammond’s first Autumn budget and Treasury executives are reportedly braced for gloomy predictions.
The Office for National Statistics states the UK’s stock of wealth much of which is in international investments has fallen from a plethora of £469 billion to a net shortage of £22 billion and half a trillion pounds has gone missing.
The mind-boggling decrease of Britain’s capital leaves Britain with no stock of foreign assets to better protect against Brexit and it comes as the Chancellor is under growing demand to prove how the nation would dispense with the increasingly imminent chance of a no-deal Brexit.
It’s believed falling out of the EU without a settlement could create the Gross domestic product to retract by an additional 7.8% and it would be increasingly challenging for the government to protect against a drop on the pound.
This would be astonishingly hilarious if it wasn’t astonishingly scary and sad and which tax haven has it gone to?
It’s astonishing how only the Tories could lose £469 billion, and the mainstream media seem unaware of this, if Labour had lost a £100 it would have been front page news for weeks with them crying out for his head.
The country is a mess and so is the economy but people are wising up to these crooks and the Tories perpetually mess up everything and this is simply clear ineptitude.
It’s pretty poor fiscal administration, and we should question how they succeeded in losing half a trillion. The Conservatives have perpetually had a lousy record on money management but they continually condemn Labour, and some people actually believe them.
But there’s a distinction between losing it and making it disappear.
The pound has fallen, that money is never ever coming to the NHS, and austerity is expected to continue even longer, and presently we’re worth much less than we imagined and there’s no safety net after Brexit.
The United Kingdom is spinning into another slump or probable recession. If Brexit bombs, and it looks like it will, the destruction will not only be long-term but plausibly permanent and seemingly, it turns out the experts were correct all along about the destruction Brexit would do to the country, and our government simply can’t count.
Money doesn’t simply vanish or does it?. Has it just disappeared, or has it seemingly been secreted away in British Overseas Territories, far away from the grasp of the taxman?
And we should check the pockets of the selfish, cheating suits.
All this dependence on banking has got this nation into this mess, they are nothing but players, and they’ve demonstrated themselves to be incompetent players at that.
Margaret Thatcher destroyed most of it. When this country was a genuine substation of production. Nearly all teenagers got apprenticeships but now industrial monsters like Trafford Park are full of minimum wage warehouse jobs.
Margaret Thatcher was the worst thing to happen to this country and Theresa May is carrying it on. She apparently deems herself as another Margaret Thatcher in production and she is apparently shaping herself into a clone of her.