Lloyds Banking Share Discussion Threads

[mikemichael2] 29/5/2019 08:27

You missed out Grimsby, 'how much for cash mate'

[alphorn] 29/5/2019 08:10

Report out this morning which may interest grahamite, the ostrich:

Eight out of the 10 jurisdictions whose systems received the highest scores for enabling tax avoidance are part of the UK network. These are the British Virgin Islands, Bermuda, the Cayman Islands, Turks and Caicos Islands, Anguilla, the Isle of Man, Jersey and Guernsey.


All about greed, exploitation and gangster capitalism.

[fatnacker] 29/5/2019 07:56

So you give the decision back to "the people" in another "advisory" referendum and then you still need (thanks Mrs Miller) to get that decision through parliament! errr

[xxxxxy] 29/5/2019 07:56

Nice buying times for LLOY.

Profits later.

[xxxxxy] 29/5/2019 07:55

LEAVE and WTO and MANY DEALS. Sounds good. And Freedom and Democracy. So GOOD.

[y1phr1] 29/5/2019 07:55

Looking good for 50p again, my entry point, once again.

[xxxxxy] 29/5/2019 07:54

A many deals but no Withdrawal Agreement Brexit can make us better off

By JOHNREDWOOD | Published: MAY 29, 2019

The government should announce a boost to the UK economy in the event of us leaving the EU soon without signing the Withdrawal Agreement . The public wants some sensible optimism about our economic prospects based on the opportunities Brexit presents. The aim of policy should be to ensure a growth rate a little higher in our first year as an independent country than the present estimated growth rate assuming we stay under EU rules and making EU payments for another year. The present government has been persistently gloomy about Brexit for no good reason, and got all its post Brexit vote forecasts wrong by being too downbeat. There are already deals on customs co-operation, transport and government procurement available for an early exit.




A number of leadership candidates have been kind enough to ask for my thoughts on the economic impact of Brexit and the current state of the UK economy. In the interests of fairness I thought it best to set them out on this public forum for those who are in practice interested.

The policy of a combined fiscal and monetary squeeze which the authorities have followed since the spring of 2017 has had the predictable effect of slowing the UK more than is desirable. Two interest rate rises, the ending of Quantitative Easing, the withdrawal of special facilities to encourage bank lending, advice against car loans and top end mortgages, the overshoot in deficit reduction last year through much higher tax revenues, the continued impact of the last Chancellor’s decision to slash buy to let investment through tax changes and increased Stamp Duty, and the decision to cut new car sales by a large hike in Vehicle Excise Duty have had a marked effect on the housing and car markets and more generally on demand and output.



The Treasury seem to think leaving soon would be an adverse shock to the UK economy. I think this is wrong. The Treasury has a habit of wildly inaccurate forecasts over the EU. They got the impact of the Exchange Rate Mechanism hopelessly wrong by failing to see the recession it would cause , and got the likely impact of voting to leave in the first place wrong by forecasting a recession with big job losses which did not happen. However, given that is the Treasury view, it means there is an even better case for taking some reflationary action in an exit budget. You should spend £20bn extra in 2019-20 on a mixture of higher public spending to improve public services, and tax cuts to promote business investment and growth. This would use up the £12bn saved on no more net contributions to the EU and offset some £8bn of unplanned additional fiscal tightening from increased tax revenues. The aim is not to borrow more but to reduce borrowing further as economic growth picks up and as tax revenues expand in response to lower tax rates which maximise revenue..



This would produce a 1% gain to UK output and incomes, all things being equal. It would offset any reduction in exports from moving to tariffs on product sold to the EU, which on a net basis should be considerably less than 1% of GDP. Any loss of exports to the EU from tariffs and other frictions would be also partially set off by the likelihood of substituting more home production, by cheaper imports from non EU replacing some of the large import bill we experience from the EU and by additional exports to non EU. If we assume we cut our external tariff to the rest of the world in ways which encourage more trade and reciprocation as we sign new trade deals the outcome will be better. A fiscal boost now of 1% of GDP should mean after all positive and negative effects of leaving our GDP will perform better in 2019-20 than if we stayed in. There would be a clear favourable confidence effect once we were out, with businesses able to make decisions knowing exactly what our trading and other arrangements are. We may well be able to agree trade talks with the EU to start on exit, which would allow them and us to avoid new tariffs and trade barriers under Article 24 of the GATT.



The government should reverse the damaging increases in vehicle Excise Duty and create a more favourable tax regime especially for clean and low emission vehicles. It should remove all VAT from green products to encourage everything from better heating controls to insulation. It should remove VAT from domestic heating fuel to tackle fuel poverty and cut inflation further. The UK has not been able to do this as members of the EU. It should take the rate of Stamp Duty down to the levels that applied prior to the 2016 budget, as the government has experienced disappointing receipts from the higher rates. They have hit turnover and therefore tax revenues by being too high. The government should review buy to let investment taxes to allow more investment in the sector. It should make a further reduction to business rates especially for shops given the problems on the High Street.



Spending priorities should include more money for schools, the police and social care. As I know from my experiences in the Wokingham and West Berkshire Council areas, the lowest financed parts of the country like ours are struggling with low budgets for these crucial services. We also need an accelerated programme of transport investment. The government has recently announced substantial extra sums for the NHS which is welcome but now needs careful direction to ensure the money is spent on the service improvements and the extra medical staff we need.



Many Leave voters see Brexit as a great opportunity. With the right budget the UK economy could perform better. Now is the time to stop the monetary and fiscal squeeze, to back private sector growth with the right tax cuts, and to back public sector service improvements and investment growth where it is needed. The sooner we have a stimulus budget based on the Brexit bonus the better. World economies are slowing. Now is a good time to give things a boost.

[xxxxxy] 29/5/2019 07:51

Above. Well said.

[stewart64] 29/5/2019 07:44

I think a lot of us ended up on here by figuring out how to be thrifty and accumulating excess from decades of hard work.

Able to food budget on what is starvation ration for your average obese socialist on benefits ( tick).
Left school at 15 without recourse to a £100,000 rite of passage lifestyle degree( ie. a degree in what most would consider common knowledge) (tick)
Never drew a penny off the State (tick)
Rejected the need to accumulate stuff and clutter (tick)
Probably cause less of a carbon footprint in 5 years than your average eco warrior on his travel around the world thing or the Caroline Lucas' of this world flying business class to climate conferences do in a year ( tick)

[cheshire pete] 29/5/2019 00:08

Minerve: #682:

Gold-laced pension ✔️
Nice savings in ISAs through privatisation of undervalued national assets ✔️
Full equity in privately owned property whose asset value has increased dramatically ✔️
No student debt ever ✔️
One job that paid more than enough ✔️
No previous experience of professional level business and international negotiation ✔️
Member of the golf club and/or local jive dancing class ✔️
Inferiority complex with respect to foreigners and successful people ✔️
Little or no higher qualifications and professional certification ✔️
Denies climate change because you can't read a graph properly ✔️
Flat Earther ✔️
Generally read tabloids but pretend to be intelligent by holding a broadsheet under your arm ✔️
Turkey who voted for Christmas ✔️

Congratulations, you are a Brexiter.

Wrong....Proud to be a Brexiteer but don't belong to a golf club lol.

[minerve 2] 28/5/2019 23:54

For those who are intelligent and are 'romantic' about science, environment, literature etc you might be interested in this:



Flat-Earthers and Knuckle-draggers don't bother. It is just a professor talking about the blue blob we live on and the other blobs in the sky. Don't worry about it. OK?

[minerve 2] 28/5/2019 23:15

Corbyn looks strong against the pack.

What a mess. Thanks Brexiters.

[minerve 2] 28/5/2019 23:14

Second Ref or GE is the only way. Tick tock.

The fact that there are so many popping out the woodwork to lead reflects the weakness of contenders IMO. If there was a strong obvious choice others wouldn't consider the risk of embarrassing themselves for no reason other than to lose.

[diku] 28/5/2019 23:06

3 months to PPI deadline Aug 2019...

[maxk] 28/5/2019 22:51

A long read, but not bad for an article that misses the point (but it is the Graun)

[alphorn] 28/5/2019 22:45

mm2 #675. I am the poster who should write that stuff!

[rogerrail] 28/5/2019 22:44

What a pathetic line up the Tory leadership candidates are, there is no hope that any of them can deliver brexit or bring their party together never mind the country.Hunt is right, steering the country to a no deal brexit would be political suicide. There is only one way out for any leader, and that is to wash your hands of the decision and the only way to do that is to give the decision back to the people. Problem is being honest about this won't curry favour with tory members and wont get you elected to pm. I have been saying this for months, by the time the tories wise up it will be too late. The tory party will be broken.

[alphorn] 28/5/2019 22:41

It is not obvious how Brexit will cure the ills outlined in your #683.

A totally independent UK is more likely to accelerate the greed, exploitation and gangster capitalism that you describe. The Continent is much more skewed to socialist and employee protection tendencies which IMO are unlikely to change, even at the expense of growth.

Apart from winding up Minerve what was the point of your post?

[ladeside] 28/5/2019 22:36

The streets are much cleaner and there's less pollution than the Victorian era, so relatively speaking the homeless who are sleeping rough on our streets are much better off nowadays and don't know how lucky they are...........

[xxxxxy] 28/5/2019 21:45

Lifelogic
Posted May 28, 2019 at 5:41 am | Permalink

It is T May, Hammond, Cameron, Osborne, Major, Heath and all the rest of the pro EU Libdim or Socialists pretending to be Conservatives who are destroying the party. They are totally out of touch with their members and at war with the voters. They have also delivered ever higher taxes, ever more damaging red tape, delivering very poor and declining public services too.

The only way now for the Conservative to go is for a clean Brexit on or before Oct 31st. Also to become a party of a real Brexit, far lower simpler taxes, small government, a bonfire of red tape, go for cheap reliable energy, freedom and choice.

[xxxxxy] 28/5/2019 21:21

The EUSSR is Old and Dark and Anti-democratic and DEPRESSING.

LEAVE and WTO

[xxxxxy] 28/5/2019 21:19

Nigel Farage
@Nigel_Farage
A
The Brexit Party's stunning victory is just the beginning. Prepare for a revolution in British politics.

[minerve 2] 28/5/2019 20:54

No Jacko, you know that your time has passed and Minerve's generation is here, and here to stay. You are desperately trying to cling on to history but it has left you behind. The last hurrah will end-up more like a death rattle. :)