Rishi Sunak’s failure to take out insurance against interest rate rises a year ago on almost £900bn of reserves created by the quantitative easing process has cost the government £11 billion.
There is a story doing the news rounds this morning that Sunak has cost the government £11 billion by failing to manage government interest rates properly. But the real story is much worse than that. This is about banks winning at cost to us all, yet again...a thread to explain.
We’ve seen a picture shared so many time in the past couple of hours of a lad at Wembley with shoes on.
Please give the lad a break. Not big. Not clever. .
If anyone know the lads, tell him to get in touch and we will sort him out a pair of brand new trainers of his choice.
Give or take the odd pound or two the Bank of England admitted yesterday that Brexit is costing the UK about £1,650 million a week. That’s about £1,280 a year for everyone, babies included, in the UK. Some Brexit ‘bonus’, isn’t it? What could you do with that?