Bank of England: Economy to rebound strongly due to vaccine
bbc.co.uk/news/business-55934405Posted Feb 4, 2021, 2:12 PM UTC
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bbc.co.uk
I suspect we're going to have a better summer season than most.
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The Euros are supposed to be held in different countries all across Europe. There are very quiet rumours that UEFA is looking at holding it in one country instead to stop teams and staff travelling across the EU and potentially spreading it.
If that happens the UK would be in prime position to hold it given our vaccination rates, its possible we could even have limited mumbers of fans.
If that happens we could see huge spending this summer.
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Took me too long to realise you were talking about football.
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The UK is the only realistic venue imo to have it though I could see Russia getting it as well.
Russia as I mentioned just had the world cup so is likely out
Germany has 2024 so should be out
France had 2016 so shouldn't host twice in a row and has nowhere near the vaccine on hand
Spain and Italy would struggle to host at such short notice
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england would be the obvious answer to this question imo. london on its own has the infrastructure to host a euros if it wanted to, and with vaccination rates as high as they should be by june, i can’t think of anywhere better right now
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I think there won't be much scope for international travel, but it's going to be one hell of a party inside the borders, if the vaccine let's us significantly free up by the end of the spring.
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Yeah this is one of the reasons the economy will get a big boost. All that money that would have been spent abroad, will be spent within the UK.
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All that money that would have been spent abroad, will be spent within the UK.
This is somewhat offset of course by all those foreigner travellers who won't be coming to the UK (£43bn was spent abroad in 2019 v £27bn that was spent here by people travelling to the UK for holiday).
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£16bn net benefit then. That’s ok.
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As a nation that would be better so keep the spending internally. If we can get foreign tourists coming as well that'll be fantastic.
Was trying to see how we could use the vaccine as an incentive. We'd be seen to be a safer destination for sure. If we could somehow offer it to most vulnerable tourists as part of their holiday that could be a good draw too.
Maybe first dose at home arranged by the UK when you book your holiday then second here. Would depend on spare doses but we do have a hell of a lot on order.
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You get no protection from the vaccine until 2-3 weeks and potentially even more for older people. Unless we want a mass of tourists in our hospitals then no such thing should happen.
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Which is why I specified first dose at home.
Second dose could be done in vaccination centres set up in tourist hotspots around the U.K.
Could even charge for the doses given how much of a shortfall there is in the EU and still dress it up as a simple public health measure.
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If we can get foreign tourists coming as well that'll be fantastic.
I mean they want to avoid importing new variants, and so do other countries. Their tourists could pick up something here and take it back.
Biggest hope for foreign travel might be to vaccinate all of Ireland.
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They say this as they prepare plans for possible negative interest rates.... Hard doubt.
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Supply is now the issue cos there's a fat load of demand.. There's a risk we'll have to up interest rates if anything. I can imagine all the London money waiting to splurge in Cornwall, Cotswolds and the Lake District. I'm expecting £5 ice creams.
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Hinting that there will be negative interest rates is a good way to encourage people to spend/borrow lots of money
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New price records for property incoming...
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Which is why I don't get why Rishi keeps hinting at future tax rises. Even if they were coming, why is he scaring us into caution when we are in desperate need of spending?
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Hint at big rises.
Only do small rises.
Everyone sighs in relief, claims he's such a great chancellor because it wasn't as bad as they thought it would be, and people go out for a celebratory meal despite being worse off than they were before.
Rishi for PM campaign starts in the next mornings papers
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Interest rates have been crawling down for ages, there's nothing really magical about the 0% line, apart from banks needing to take logistical steps to charge customers. If it's a decrease of 0.5%, well, that's nothing that spectacular.
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A fresh drop of 500 basis points from what is already an historic low is no big deal to you???!!!
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Probably be a short bubble. People will go nuts at first but it is hard to see it lasting as it will start to show the strain of Brexit on many industries and people will remember why they leave Britain for holidays. We'll definitely see a rise in violent crime though and the police are going to be utterly swamped by people who didn't realise they lost their drinking legs while hospitals probably see people who lost their tolerance to drugs.
I have more faith in GME stock than I do in this rebound.
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I have more faith in GME stock than I do in this rebound.
I took a punt on that, so glad I treated it like gambling and only put what I could afford to lose on it. Some muppets staked their life savings on it!
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Worse than just life savings, some people:
- Remortgaged their house
- Sold their assets such as cars
- Took out bank loans
- Took out payday loans
I feel bad losing money I put in GME, I still have hope it could spike back up, but at least I'm not a poor sod who took out thousands of money I didnt have to invest in GME.
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How did you lose money? Did you buy nearer the peak or sell too late?
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The message is well worth it as long as the money won't be missed. Especially as certain countries let you write off stock losses in taxes, believe Trump has even done that before. Every ape holding firm is great but it absolutely is a self destruct choice.
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Yeah, it's a cliche but your stake has to be exactly proportional to the fun you can get out of it. My stake got absolutely hammered in the end (obviously) but it was worthwhile for the fun of being part of that, I imagine I'd be saying something totally different if I'd put in more than what I'd have blown on a night out without lockdown.
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Dunno about you but I've been practicing at home
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Unless you're downing shots in an overly warm house between doubles or bottles you sip out in a cool smoking seat, you'll find it hits quite different at home.
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But test your systems for negative interest rates, just in case...
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We're about to experience the mother of all "K" shaped recoveries, hold your butts for queues at the jobcentre and splurges on luxury cars boys and girls.
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This.
The rest of the world will still be on lockdown, so only internal-serving companies will do well.
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I hope this is the good news I need, but I will remain skeptical.
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This was obviously going to happen and is going to be happening in most places globally that were formally under restrictions.
Keep everyone penned up inside for a year, and everyone is going to go nuts when they get out.
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Didn't they predict a Brexit recession?
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Yes. Cumulative - 10% GDP spread over a decade. Year on year about -1 to -3%.
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Tinder is going to be mad.
Buy shares in Durex.
I'm personally going on a Lands End to John O'Groats pub crawl if restrictions are lifted this summer.
I've missed the sea so fucking much more than anything. I've been living in one of the UK's more landlocked counties after living in Ceredigion for ages and I need to breath lungfuls of Welsh sea air more than a smoker needs a fag after an 18 hour flight.
Most people I know just want to go somewhere different than home and the supermarket. They literally don't care as long as it's somewhere away from where they have spent the last year.
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Let's hope so.
Assuming no international travel there is going to be a huge boom in UK holidays.
I dunno about this, I can see more people fed up with the bad weather and want to gro abroad, I don't see most people doing UK holidays as most wanna just "get out" and are sick of being stuck in the UK for 1 year+
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A lot of people in the UK (myself included) have family outside of the UK which we visit.
Anywhere, mostly Europa i imagine, you could travel most places last summer so I’m sure the opportunities will be more this summer
If there's no international travel people will be happy to go anywhere that isn't home tbh
The weather is bad now because it’s the middle of winter.
The summer wasn't exactly great, there were a few heatwaves then it ended fairly early.
Doubt it, the nations a shithole. Who the fuck wants to go on a holiday to a caravan park like a Gypper.
Wow nice slur there.
Yeah I'm gonna holiday in late September once all the schools are back and things are calmer
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Bicycle touring is my hope for this summer, I don't drink and don't care about pubs but I just want to get outside for a good solid week.
The first Saturday night on a weekend for bars/pubs will be utter chaos
It'll be a slow release rather than a deluge imo.
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