Rachel Reeves Faces Mounting Pressure Pound falls and Rising Borrowing Costs

[JoeyMac]

3 hours ago, JonnyF said:

Hope all the lefty expats are enjoying what Rachel from accounts is doing to the THB/pound rate since the election on July 4th.

 

 

The economy was ticking over nicely until the election. Following her budget for recession it's all been downhill. 

 

Enjoy. It will get much worse. 

 

 

Bring back Rishi !!!! 

[JoeyMac]

So the issue is she put taxes up on business to pay more national insurance. She didn't put up taxes for the population, she didn't put VAT so we pay more, she didn't put up fuel tax, etc 

 

Am i rite ?

 

And she has put up spending (very moderately) on education and health. 

 

This has caused a crash ?

[DonniePeverley]

What on earth is going on with the Pound ?!?!!?!

 

Getting rates of around 41 today !!!!!

 

That's lowest since around Brexit vote.  Is it that bad ?!

[The Cyclist]

15 minutes ago, DonniePeverley said:

That's lowest since around Brexit vote.  Is it that bad ?!

 

That bad ? Its not even started yet.

 

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Business leaders plan to cut costs and rein in hiring in response to government tax increases set out in the autumn budget, with employment expectations taking the sharpest tumble since the start of the coronavirus pandemic.

 

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A similar sentiment emerged in the advisory firm BDO’s employment index, which hit a 12-year low in December, amid declining vacancies and payrolled employee numbers.

 

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The figures are the latest to indicate a negative response to the increase to employers’ national insurance contributions – the main revenue raiser in Rachel Reeves’s October budget.

 

https://www.theguardian.com/business/2025/jan/13/tax-rises-will-push-business-leaders-to-cut-costs-and-hiring-surveys-show

[The Cyclist]

Good start to the week for Rachel from Customer Complaints 

 

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UK bond yields rise again, stock markets open lower

UK bond markets have just opened, and yields are up again – by about 5 basis points across all maturities.

 

She will be flogging her patch by the end of the week 😀😀