Originally Posted by
Marly Lite
The pound may have tanked after Brexit. All market based trading incurs emotional responses. But the fundamentals are the same, spend more than you earn = currency debasement.
if you like a little research, look at a chart of the euro v the usd. You’ll soon learn Brexit is irrelevant.
After 7-years and the change of 4-prime-ministers it would seem the markets disagree with you, hence 29% reduction in the value of sterling vs USD. I note the Cons were in the driving seat the whole time, so it surely was not a change of party that did the deed. Brexit seems increasingly culpable for the trainwreck that is the UK over that period.
Anybody managing the defence budget in that time, or the one to come, will be under no illusions as to the consequences.
Anybody denying these facts is obviously feeling rather uncomfortable that the penny is dropping out there in voterland.
(For completeness GBP/EUR was 1.40 in May 2015, now 1.13 as of 23-Sep-2022. That is 0.27/1.40 = 19% reduction in GBP vs the EUR in the same time the GBP declined 29% against USD. The direction of travel is pretty clear.)