In the news

Smoking ban? If anything, it made pubs more popular, I fondly remember 7th of July where the pub I worked at stank like hell when it introduced.

Right but you were a cost not revenue.

I guess most of my assumptions on smoking was while I was building a pub investment. The bit of market data I read at the time and the anecdotal evidence of the guys running the pub was that the ban reduced footfall - especially from traditional clientele.

Most of the data I can find from a quick search now shows no long term impact on revenue. However, that doesn't mean there isn't lower foot fall, and would support my claim that pubs have had to change their offering.

This indicates that the ban did dissuade smokers from going to the pub.

What I remember finding really interesting was the shift in gen z attitudes and approaches to drinking. Social media means people are probably weary about getting too messy. Online dating vs meeting at the bar makes women more cautious about getting drunk from a safety pov whereas men don't want to get drunk and come across negatively so if they do meet at a pub it's going to involve less buying if drinks - idk if this is similar in non-hetro dating. On top of all of that is their increased focus on health. I remember being surprised how strong the social aspect seemed to be at the gym I used to go to. Loads of young people there hanging out with mates, posting and checking each other out.

One of the pubs in Winchester bought in a smoking ban before it was required- all my non smoking friends immediately switched to going there over the other pubs we used to go to. Whether they drove away more than they got- IDK.

I don’t think people (other than leathery sex pests) would want to go back to those days now.

The smoking ban came in in 2007, the same year as the credit crunch. If I recall correctly, it was also one of the wettest summers on record.

I was working for a pub company at the time, it was a difficult year.

I started my first job in public health that week. Was the ideal major policy change to observe and learnflnfrim for me. I also stopped smoking, by coincidence, that week.

In other news, The UK Gov continues to learn that batshit economic policy might go down well with your partisans but the international money markets remain sensible (and astonished).

Wonder if we'll hit dollar parity this week?

Quite a strong flex to say you're tackling the energy bill crisis and then devalue the currency you have to use to buy petrol and gas in USD by 10%+

Let's not beat around the bush here... we're watching an economic catastrophe unfold. I'm bricking it a bit.

Yep and with the new price cap, it's the government who will be picking up the additional bill for the increased energy costs and either borrowing at higher rates to do it or going to find the magic money tree, strong and stable

Potentially forcing the BoE to do an emergency interest rate hike is really going to help people with the cost of living crisis as well

The recession has barely even begun yet too. We've potentially got years of this in front of us. Things are feeling distinctly Argentinary around here. Fifth largest economy in the world, anyone?

I hope I'm being a massive drama queen.

Looks like the rumours of a possible emergency rate hike this morning has calmed things down a little.

I wonder if we will hit parity by 10am today.

Nonsense, the Treasury comms team will have reiterated to The Markets, the only alternative is Chaos with Ed Milliband.

it's the government who will be picking up the additional bill

Going to sound like my dad here but...

The government doesn't have any money of its own.

International money markets not believing in Brexit enough

Traders are all woke lefties, obvs…

2 weeks in and the idiots have already broken the economy. Half-brained Tory ideologues .. we all get an extra £3 in our pay each month as the mortgage goes up by £100

I'd welcome somebody checking my sums but I think that if the BoE do hike rates by 1% in response to this, it'll mean an extra £500+ per month for a £200k mortgage balance (when they remortage...including last week's rate increase).

Edited down from £600pm

2006 in Scotland

Looking increasingly grim. I’m failing to see what they are trying to achieve, other than a financial apocalypse. All I can see is short, medium and long term disaster. Still no plausible exit plan for the subsidised energy either.

I was feeling unlucky last week that we were going to be paying £100 a month more on our mortgage, locked in for 10 years.

Now it doesn't seem so bad.

Queue housing repossessions and housing market collapse and more carnage?

Whose balance sheet will the 130bn to cover the new energy price cap be sat on?

Thank fuck I’ve only got 9 months of my mortgage left, and I’m on a fixed rate. Does mean we’re screwed if we want to move on though.

I’m failing to see what they are trying to achieve

Get more money in folks pockets so they can spend it and keep the wheels going round. That's the theory anyway. Proof will be in the eating and it doesn't taste so great right now.

If the Tory party wanted more BAU they could have got Sunak in I guess.