Moodys threat to downgrade UK credit rating

[Snowy111]

Warnings now of the downgrading of our credit rating. This is serious and a downward spiral. Moodys have no confidence in either of the main parties “over-spending” pledges...

uk.reuters.com/article/uk-britain-ratings-moody-s/moodys-warns-uk-of-further-debt-downgrade-on-brexit-paralysis-idUKKBN1XI2KK?feedType=RSS&feedName=topNews

But essentially bastard Brexit has caused this

uk.reuters.com/article/uk-britain-ratings-moody-s/moodys-warns-uk-of-further-debt-downgrade-on-brexit-paralysis-idUKKBN1XI2KK?feedType=RSS&feedName=topNews

It won't just be Moody's.

Relegation to the second division is coming.

I have another thread about election spending giveaways so I don’t think it’s Russian interference at all, it’s the fact that we’re 2 trillion in debt and rounding to spend irresponsibly. Moodys are saying we’re not a safe bet any more

www.mumsnet.com/Talk/am_i_being_unreasonable/3734813-To-think-the-last-10-years-of-austerity-is-being-thrown-away

Neither Tories nor Labour will be able to fund their spending pledges - downgrading UK as a credit risk means that UK won’t be able to borrow the necessary funds.

Meanwhile, since 2016, the EU has negotiated free trade deals with Canada, Japan, Thailand, Vietnam and a group of South American countries - each of which took 5-7 years to agree and none of which will be available to the UK outside the EU, let alone available by 31/12/20.

I can’t understand why people just don’t get what’s happening. When will people wake up and realise that Brexit has to stop - it’s a mistake and we still have time to stop it!

Snowjive you are absolutely right!

We stood on the White Cliffs at Dover last Tuesday and, as we have done at the same time for years, looked down on the comings and goings of lorries and ferries. For the first time in all those years there was little movement. I was stunned. This was the true face of Brexit, our little island isolated by bigotry and lies. I am so depressed.

Happy did you go into the port and ask why there was no coming and going 😁I find it a leap to suggest any less movement is anything to do with brexit at all.

Meanwhile, since 2016, the EU has negotiated free trade deals with Canada, Japan, Thailand, Vietnam and a group of South American countries.

As far as I am aware, the EU-Mercosur (Argentina, Brazil, Paraguay, Uruguay, and Venezuela) Free Trade Deal was blocked by Austria in Sept;
www.gtreview.com/news/europe/austria-blocks-nice-on-paper-eu-mercosur-trade-deal/

Meanwhile, the UK launched a trade facilitation programme with Brazil in August;
www.gov.uk/government/news/uk-launches-programme-to-promote-trade-with-brazil

Thailand - Free Trade talks with the EU and post-Brexit UK are due to reopen after a four year hiatus;

"Sept 2019 At the same senior ministry meeting, Commerce Minister Jurin Laksanawisit also pledged to speed up FTA talks with the UK.With Brexit on the way, long-term impacts are inevitable, and bilateral trade talks with both the EU and the UK are needed."

www.grantthornton.co.th/insights/articles/thailand-reboots-fta-negotiations-with-trading-partners/

Canada?
In 2018 Canada sold goods worth $46.8 billion to the EU - $17.9 billion (38%) to the UK - a trade deal will be on its way.

Japan?
UK Advances Preparations for New UK-Japan Economic Partnership -British Chamber of Commerce in Japan 20 Sept
www.bccjapan.com/news/2019/09/uk-advances-preparations-new-uk-japan-economic-par/

Vietnam?
You can read this from the Express if you like;
www.express.co.uk/news/world/1147199/EU-news-trade-deal-vietnam-eu-summit-2019

our little island isolated by bigotry

Sept 2019 Boris Johnson discusses "big" free trade agreement (FTA) with Indian PM Narendra Modi, during their meeting on the sidelines of the G7 summit in Biarritz.

www.ndtv.com/india-news/big-india-uk-free-trade-agreement-among-talks-with-pm-narendra-modi-boris-johnson-2095191

It looks as though the government are still keen to establish free ports in the UK - trip to Jebel Ali Port in the Middle East 2 weeks ago;

www.gov.uk/government/news/boost-for-uk-uae-trade-relations

I think a downgrade has been a long time coming TBH.

our little island isolated by bigotry and lies
That is so sad. But true.

Funny how it was in the same day that the tories attacked labour with their £1.2 trillion lie about spending, when labour haven’t even announced spending commitments in their manifesto yet