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UK exports have declined compared to several years ago.
Machinery and chemicals exports are strong, small business exports to the EU are screwed.
Some business sectors will be helped by a lower £ but am pessimistic about good jobs / rent and mortgages / food prices. Because 40% is imported and there still is no good food strategy to address that.
I doubt the extra exports can offset all those downsides by generating some more jobs.
JWestland
Airhead
Seems more likely they are adopting a 'won't be bullied by the international money markets' approach. That's certainly the message sent by the BoE statement regarding rate rises.
Basically 'hold the line' ride out the storm and start from ground zero. What's the worst that could happen kind of thing.
Worth remembering that despite this being a really awful strategy that we will all have to pay for. We were not a complete basket case economy before Brexit, there is some underlying value and industry in the UK. This kind of thing hamstrings the businesses that generate income but it takes a while to completely destroy them.
So, 'weak pound is good for exports' used to be a handy covering statement at times like this.
It will also stop people buying a lot of imported goods which had to happen.