HOUSEHOLDS MORE PESSIMISTIC

A survey by Markit shows that people are becoming more gloomy about our future prospects (HERE). The survey found that the proportion of people expecting the economy to fare better over the next ten years as a result of Brexit has fallen to 29% from 39% last July.

Meanwhile, the proportion who think the UK's economic prospects have got worse has risen from 42% to 53%, resulting in a net balance of -24% — down sharply from the -3.5% last July.

Prosper like never before!

LLOYDS CHOOSE BRUSSELS

Just a day after Article 50 was invoked, Lloyd's of London says it will establish a new European subsidiary in Brussels to avoid losing business when the UK leaves the EU (HERE).

The 329-year-old insurance market confirmed the plan as it released its latest annual results.

"A subsidiary office will be opened in Brussels with the intention that it will be operational for the January 1 renewal season in 2019," it said.  Apparently just 100 jobs will go, but this is 100 highly paid jobs that won't be paying tax here.

TELEGRAPH HAS PROBLEMS DECIDING WHAT'S HAPPENING

The Telegraph has some mixed messages today. Alastair Heath says Brexit hasn't even started yet and Britain is thriving (HERE) while at the same time the "failing" Eurozone has overtaken us (HERE) and in yet another piece it says the FTSE hit new heights while the pound fell on a resurgent dollar and "Brexit fears".

Meanwhile in the Brexit Podcast they say the British people took a leap in the dark and landed safely (HERE). It almost seems a shame to tell them we haven't actually left the cliff yet!

What can you say about that except, Oh dear, Oh dear, Oh dear.

UK DOWN - EU UP!

The Telegraph of all papers, has a report about the growth of the eurozone (HERE) which has apparently hit a six year high.  In the same week Reuters says UK consumer morale is dipping as inflation begins to take off (HERE).

It would be a huge irony if after years of crowing that we are growing faster than any other G7 economy, after Brexit we slow down and the eurozone takes off!

The Resolution think tank says the chancellor is on course for a £29 billion windfall in April with the PSBR set to fall to £56 Bn instead of the £68 Bn forecast last November which will, apparently, cause the cumulative borrowing figure over the parliament to fall by £29 Bn (HERE). We are at a high point with unemployment at historic lows and the public finances, although still weak with a £60 Bn deficit, at least showing some resilience. Brexit can only go one way - down!

ELECTRIC MINIS TO BE MADE IN GERMANY POST BREXIT?

BMW are said to be considering where to make an electric version of the mini (HERE) and normally I would expect it to be in this country but it appears that Brexit may have added quite a bit of uncertainty and it may now be made in Germany or even in Holland where some minis are made at the moment.  Or it may be that BMW are playing the same game as Nissan and making threats to obtain more support in one way or another.