in 1558639 20170119 142008 charles wrote:
In article ,
Chris Hogg wrote:
On Thu, 19 Jan 2017 11:10:50 +0000 (GMT), "Dave Plowman (News)"
wrote:

The fall in the value of the pound has already cost us more in increased
import costs than any net saving in EU contributions after we leave.

Conveniently ignoring the benefit to exporters, of course. Devaluation
is generally good for a country; why else did Harold Wilson devalue
the pound by 14% in 1967, and why else is the FTSE at record highs
ATM, why else is unemployment at its lowest value for 11 years. But
you always do do your best to present a miserable view, don't you.

when a country has a negative balance of payments - devaluation is NOT a
good thing. Balance of payments tends to get worse. If we are douing so
well why is the pound only half its international value since Harold
Wilson's day. According to those who know the stoc=k markets the FTSE has
risen because many of the big companies receive most of their profits from
abroad.

When I was at school there were 4 dollars to the pound (5/- was called a dollar).
Through the 60s it was $2.80 and dropped to $2.40 in 1970.