Lloyds Banking Share Discussion Threads

[utrickytrees] 07/10/2020 10:15

Sunaks out of his depth. Just cos you've been at Nasa doesnt mean you can run Transport for London. He has no relevant experience.

[freddie ferret] 07/10/2020 10:09

From the JTC thread.

mroalan
7 Oct '20 - 09:54 - 88943 of 88943
0 0 0


The government is expecting one in three companies in the UK to fail
Posted on October 7 2020

"The National Audit Office has issued a stark report this morning. It refers to risks within the loan schemes made available to businesses with government backing to help them survive the coronavirus crisis."

Well thats baked into the cake,they know that and the longer this goes on the worse it will get,but i doubt they care,but there will be consequences here for the public who will to told we need to take stark measures to recuperate this money and it can,t be through taxation,could a bail in be on the cards?mro.

[utrickytrees] 07/10/2020 10:08

Sunaks throwing our money around like confetti...kin idiot.

[grahamite2] 07/10/2020 10:00

No surprise there, Max. It was estimated that 80% or 90% of the small firm loan guarantee scheme back in the 80s was used for fraudulent purposes.

Government and business don't mix - they are worlds almost wholly alien to one another.

[geckotheglorious] 07/10/2020 09:28

Freeports a mighty fine idea imo.
Especially if they result in the regeneration of some of the less prosperous places in the UK eg Hull.

[maxk] 07/10/2020 09:12

Taxpayers face £26bn bill from Bounce Back loan fraudsters

Up to 60pc of borrowers may default on their Bounce Back scheme loans after ‘hasty’ launch


By
Lucy Burton
7 October 2020 • 6:00am



Rishi Sunak's flagship coronavirus rescue loan scheme could cost taxpayers £26bn after being exploited by fraudsters and companies on the brink of going bust, the National Audit Office (NAO) has warned. ...

[xxxxxy] 07/10/2020 08:58

Vote for Free Speech.Vote for Honesty. Vote for Trump.

[xxxxxy] 07/10/2020 08:11

The chancellor has officially announced plans to set up post-Brexit "freeports" in Britain - special low-tax business zones aimed at attracting international trade to the UK.Rishi Sunak on Tuesday said the bidding process to become a freeport will be launched before the end of the year. Airports, rail hubs, and sea ports will all be eligible to apply for the status and the government is hoping to establish at least one freeport in each nation of the UK."Our new Freeports will create national hubs for trade, innovation and commerce, regenerating communities across the UK and supporting jobs," Sunak said in a statement.Freeports are special trade zones that do not function under the same tax rules as the rest of a nation. British freeports will enjoy simplified customs procedures and tax breaks on goods passing through.... Yahoo Finance

[k38] 06/10/2020 22:54

"He demanded from Merkel billions to contribute for American defence bills".F#hell careful.. you are worse (fake news) than CNN... Lol....

[diku] 06/10/2020 22:50

Stamp duty holiday upto 500k but high asking property prices...they will be saddled with debt...and as for those new build flats they are match box size...






Boris Johnson has promised to create 2 million more owner-occupiers by introducing 5 per cent mortgage deposits for first-time buyers to transform “generation rent” into “generation buy”.



The pledge was one of a series of ambitious promises in the prime minister’s speech to the annual Conservative conference, also including a massive increase in wind power, one-to-one tuition in schools and reform of social care.

In a speech delivered virtually and with no audience, Mr Johnson dismissed suggestions that he was suffering from the after-effects of Covid as “seditious propaganda”, but admitted he had been badly hit by the illness because he was “too fat”.

Mr Johnson said that it was “disgraceful” that levels of homeownership among under-40s had plummeted over recent years, forcing millions of people to “pay through the nose to rent a home which they can’t truly love or make their own”.

He said that he wanted to “fix our broken housing market” not only by building more homes but by making mortgages more affordable, with long-term fixed-rate deals available on a 5 per cent deposit for first-time buyers.

He said this would “give the chance of homeownership and all the joy and the pride that goes with it to millions who currently feel excluded”.


Mr Johnson said that the policy could create 2 million more owner-occupiers in “the biggest expansion of homeownership since the 1980s”.

“We will help turn generation rent into generation buy,” he said.

“We will fix the long-term problems of this country not by endlessly expanding the state but by giving power back to people – the fundamental life-affirming power of homeownership.”;

A move to 5 per cent deposits is likely to require change to regulations introduced in the wake of the 2008 crash to take risk out of the financial system.

[k38] 06/10/2020 22:44

Till now UK was a colony to Brussels like the rest of them. No more. Feel happy brexiteers.We took back all the power they stolen with fake promises from UK.NO DEAL!Brussels, is a corrupt organisation.Europe, is a fake union.Euro, is a fake currency.

[jl5006] 06/10/2020 22:32

Careful
Thought the commitment to Nato was 2% - none but the UK has paid its dues

[k38] 06/10/2020 22:32

Europe is like a boy who in his early life discover he like to dress and wants an operation to become a woman.Lol......The history of Balkans and and the two wars 1 and 2 give birth to European union and the reason was to avoid killing themselves and prosper economically... The truth is, Brussels wants power to control the rest of the world with bullets if they have to. The truth is, Brussels do not care about it's people!

[covid 19 deal] 06/10/2020 22:23

Dart the KUNT at LSe gone off...marshall wace ..goldmans..rats having a runover

[careful] 06/10/2020 22:10

usa, china, eu.

Each have a GDP of about $20 trillion.
The EU. is more or less undefended unless they rely on Nato.
The other groups spend about 2% of GDP on defence.
Even the tiny UK, GDP a mere $2.5 trillion, spends 2%.

Trump is right, the EU. should arrange its own defence.
He is no fan of NATO.
He demanded from Merkel billions to contribute for American defence bills.

France is a nuclear power, the EU. must get its act together.
Some in the UK are anti EU. can't rely on us.
A Dangerous World.

[jl5006] 06/10/2020 21:57

Careful
Ur cred is in Q.
Really it is now at nil

[careful] 06/10/2020 21:31

k38

They want a European Army because they do not think that they can depend upon Nato, America or the UK anymore.

The old defence of Europe consensus has broken down.
The ex communist eastern EU.states feel particularly vulnerable, fear Russia.

If you study European history you will have to agree that they have a terrible time over the centuries.

What are they afraid of?
Are you a nuclear disarmer for the UK?

Struggle to understand why you cannot work out these matters.

[scruff1] 06/10/2020 21:24

chavi
top bloke - what at BoE? I bet not many on here would call em top blokes. Even that top woman was banging her gums about negative interest rates - and about there being too many blokes at the top. Shes not a top bloke either IMO :-)

[scruff1] 06/10/2020 21:16

Sources is all we got mate - named or unamed I dont trust any of em including any from The Independent, Guardian, Daily Telegraph, Daily Mail Daily Express etc. None of em report much news anymore they make it up to suit their target markets - a source said

[xxxxxy] 06/10/2020 20:54

UK beware: How small Brussels defence schemes suddenly became 'EU Strategic Autonomy'October 05, 2020By David BanksAT THE END OF SEPTEMBER eurocrats published a new paper on 'EU Strategic Autonomy' which tantalises MEPs with descriptions of all the new powers the EU has given itself in the realm of defence. While the powers have been around a couple of years, what is definitely new is the EU's willingness to state publicly that together these powers add up to a new concept in EU military sovereignty.The glossy paper, 'On the Path to Strategic Autonomy', is written by senior advisers to the EU Parliament who unashamedly trumpet the EU's defence architecture as entirely positive.While touching lightly on the detail, they casually swat away concerns that the EU is duplicating NATO, creating an alliance within an alliance. Instead, they insist that EU Strategic Autonomy does not weaken NATO, it simply 'shares the burden' with the US. In any case, they claim, EU defence structures and policies now face 'less resistance' from Washington.It is a curious claim and strikingly disingenuous given that the US Government sent an angry letter to the EU Commission in 2019 decrying new EU Defence structures, particularly those in capability development, as being built to exclude the US with 'restrictive language' and 'poison pills'.The authors also neglect to mention in their claim of 'low resistance' that there is also a low level of public awareness in Washington, Westminster or most European cities about the EU's complex new defence agreements, which were ram-raided through the EU's political machinery with little fanfare between 2016 and 2018.Even a cursory analysis of those recent defence agreements would have shown observers in the US and UK that 'EU Strategic Autonomy' has been a recurrent theme. Agreements since 2016 that specifically mention 'EU strategic autonomy' include: a.     EU Council 14 November 2016 agreement, 'Conclusions Implementing the EU Global Strategy in the Area of Security and Defence', which makes six references to the autonomy of EU decision-making, eg:These should assist the EU and its Member States in addressing further Europe's current and future security and defence needs, enhance its strategic autonomy and strengthen its ability to cooperate with partners. b.     The European Defence Action Plan of 30 November 2016, subsequently confirmed in full by EU Council agreement in December, makes four references to EU strategic autonomy, eg: As called for by the Council, this European Defence Action Plan contributes to ensuring that the European defence industrial base is able to meet Europe's current and future security needs and, in that respect, enhances the Union's strategic autonomy, strengthening its ability to act with partners.c.      Later EU Council agreements, such as the EU Council's 6 March 2017 agreement, 'Conclusions on Progress in Implementing the EU Global Strategy in the area of Security and Defence', refers to decision-making autonomy from NATO, adding:In this regard, it calls for further work, in full respect of the principles of inclusiveness, reciprocity and the autonomy of the EU's decision-making processes, and to report back on progress in June 2017.   The EU Council has therefore endorsed strategic autonomy several times and at all of the EU Council agreements made in response to the 2016 EU Global Strategy and European Defence Action Plan.The EU gained powers of strategic autonomy not simply by talking about the concept but because the agreements – including the ones mentioned above – created political-military structures which themselves act as new levers of authority.These include the MPCC (a headquarters), EU Pesco (structured defence integration programme with its own strict set of rules), the European Defence Fund (central budget to incentivise participation in joint defence capabilities). These and others are held together under a single set of rules the Common Security and Defence Policy (CSDP).That way, the whole chain from designing a gun, through to building, paying for it and eventually deploying it on a vehicle and using it in anger are all under the same single process. It is mutually reinforcing process because participation in one, incentivised by the piecemeal repayment of member state contributions, requires a political commitment to the rest.These structures are best understood by reading another surprisingly honest EU publication, the EU Concept for Military Command and Control (EUCMCC), which was published by the EU Council on 23 April 2019 following an official 'silence procedure'. The EUCMCC is a compendium listing the recent preceding EU Council agreements and describing how they form a single organisational framework. (The document is far from being merely an idea, which the 'concept' name might suggest.)Finally, here was a document from the EU admitting its new arrangements would combine to create extraordinary powers, including a central command function for any event the EU Council chooses to designate as a military emergency. The EU could never again claim that these were structures proposed on a hunch by individual member states. The EU Common Security and Defence Policy was now a fully-linked and minutely engineered political ecosystem which had already accrued political consent by increments and is designed to power-up and grow now that it is gaining member state participation and central funds.The publication of the EUCMCC made it possible to prove to naysayers that the EU had established a command chain, when previously this could only be explained if audiences had the patience to learn how the various jigsaw pieces of preceding agreements fitted together.It was highly relevant in mid-2019 because the UK-EU Political Declaration contained a UK commitment to stay wholeheartedly under parts of these agreements. Perhaps UK ministers did not know, or could not admit to themselves, that participation in a few aspects would mean inherently a legal commitment to all, as those were the terms of participation when they were agreed soon after the UK referendum.The first line of the EUCMCC gloats:'The EU has established an autonomous capacity to take decisions to launch and conduct EU-led military operations and missions.'Subsequent pages describe the 'EU Military Chain of Command' which permits 'autonomous EU-led Military Operations and Missions'.For a little more detail on EU Strategic Autonomy, MEPs may turn to a report by the EU Commission's internal defence thinktank, the EU Institute for Security Studies (ISS), published shortly after the last of the main EU defence agreements had been sealed at the EU Council in November 2018.This report, 'Strategic autonomy: towards 'European sovereignty' in defence?', names the European Defence Fund and Pesco, which were recently furnished with billions of EU funding, as two of the tools of EU strategic autonomy.Most interestingly, the ISS document seamlessly expands the concept of strategic autonomy from the military realm to other areas of EU influence. In this way, EU strategic defence autonomy is positioned as leverage for 'Widening the scope of the EU's possibilities' in economics, diplomacy and energy.This is the new context of EU strategic autonomy: the EU views its new defence powers as engrained within its developing role as a global hard-power player.Any future discussion about UK participation in EU defence programmes will sound innocuous on the surface, but it must be viewed in the context of burgeoning 'EU Strategic Autonomy'. For the EU, UK involvement as a rule-taker would be all or nothing.

[maxk] 06/10/2020 20:27

h/t to mrs tubbs..

[aceuk] 06/10/2020 20:02

Trump stopped stimulus talks until after election - nothing is real right now!