Ten Percent Worse Off

A presenter on LBC Radio, Nick Abbot just said that because the value of the pound has dropped by 10% we are all 10% worse off? Now I ain't no economist but I ain't thick either

I think Mr Abbot will find that the pound is worth exactly the same here in the UK as it was before the Referendum. It has only dropped in value against foreign currencies. That means exports are cheaper and imports are dearer. We can start manufacturing our own goods and export it to other countries creating jobs and become less reliant on importing other Countries crap.


  • The only things really that can affect the value of the pound here in the UK are inflation and interest rates. Yes the foreign exchange rates can affect those two parameters but even hardened remainer P Hammond would admit that inflation and interest rates are doing just fine.

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