The government would like you to go shopping. They would prefer it if you flashed the plastic, as they want you to go borrowing as well.
I have a more modest suggestion. If you think at some point in the next year or two you cannot resist the temptation of an import of two, go and buy it today. If you cannot cure yourself of the craving for continental wine, have one last fling. If the curves of European furniture are keeping you awake at nights, go and treat yourself this weekend. If you still do not have enough amazing electrical and electronic gismos and TVs from Japan, this might be your last chance to afford one.
I did some research for this blog during my constituency day yesterday. In the wineshop they told me to expect some double digit price increases in February for German and French wines, once their current stocks have run out. A furniture buyer said he was expecting 15% price hikes as a minimum for the imports from Euroland. The yen has risen fastest against the groggy pound. They couldn’t tell me what might happen to prices in the TV shop, but I would expect they will have to pass some of the grief on quite soon.
Allowing for stocks bought before the collapse in sterling in the last few months, and allowing for some importers taking out forward cover on the currency, you should nonetheless expect to see imports getting a lot dearer in the months ahead. If you help the shops today to move the cheaper product they have left, maybe they will then think about buying some replacements that are made in the UK. There are some good UK white wines and some attractive furniture to continue the theme of this piece. It’s time for the electrical and electronic manufacturers to think about making more here, now we are so much more competitive thanks to the fall in the pound. You can forget the new German car of course – if you ever did want one. They are dear already, especially when your second hand one has such a low value now.
SHOPPING CAN DAMAGE YOUR WEALTH. YOU SHOULD NEVER BUY SOMETHING WITHOUT TAKING PROPER ADVICE FROM SOMEONE WHO UNDERSTANDS YOUR NEEDS AND YOUR FINANCIAL POSITION. BUYING THINGS ON BORROWED MONEY CAN CAUSE YOU DIFFICULTIES IN MEETING FUTURE REPAYMENTS. DEALING WITH NATIONALISED BANKS CAN BE A VEXATIOUS EXPERIENCE. REMEMBER TAXES MAY GO UP AS WELL AS UP AND YOU WILL HAVE TO PAY THEM.
DRINKING WINE MAY BE BAD FOR YOUR HEALTH. DRINKING TOO MUCH WINE COULD LEAD YOU TO BREAK THE LAW.
FURNITURE IS USUALLY HARD. WALKING INTO IT COULD INJURE YOU.
SHOPPING WILL INCREASE YOUR CARBON FOOTPRINT.