Recession 2019 anybody?

And another thing, airports. Couldn't buy duty free cigs when going to the EU. Yet in the EU, you can buy loads to bring back to the UK?
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No you can't buy duty free cigs when returning from the EU. You can Duty paid, but they must be for your own use and not for resale/swap or services in kind.

You believe you can, which is why I catch so many smugglers each week when I shouldn't really be looking for them.
 

Goatman

ADC
Book Reviewer
Hmmm,

When I saw this my first thought was ' some clown will blame this on Brexit...'

( Too late, Beardy Prof has beaten some clown to it...)

What price bullion - or shall we all stick to the tried and trusted mattress full of paper currency?



Extract:

IMF flags trade war threat and warns of global economic slowdown


The global economy is weakening faster than expected as trade wars and financial market volatility further undermine the investment climate, the IMF said on Monday at the start of this year’s World Economic Forum in Davos. World leaders and business titans have converged on the Swiss ski resort, chastened by the recent economic weakness from Asia to Europe, saying that populism and the policies of international conflict are taking their toll on global economic prospects. Corporate bosses have been left reeling by the rapid change in sentiment that has followed a ratcheting up of trade tensions over the past year and Monday’s news that China’s official growth rate had slowed to its weakest level since 1990.

The FT article continues:

Alongside the downgrades in the IMF’s growth forecasts, a survey of chief executives by PwC noted a sharp jump in pessimism compared with their almost universal buoyancy a year ago. The PwC survey showed that almost a third of chief executives believing the global outlook would darken compared with only 5 per cent a year ago.

“With the rise of trade tension and protectionism it stands to reason that confidence is waning,” said Bob Moritz, the professional services group’s global chairman. The downward revisions are modest. However, we believe the risks to more significant downward corrections are rising Gita Gopinath, IMF chief economist

The IMF blamed its more pessimistic forecasts mostly on weaknesses in Europe and Japan that slowed momentum in the global economy. It said the biggest downgrades had come in advanced economies where growth was set to drop from 2.3 per cent in 2018, to 2 per cent in 2019 and 1.7 per cent in 2020. Some of the effects of trade wars had already been felt, the IMF said, which had led to the weakening of global trade growth. More concerning, the outlook could be even worse.
 
No you can't buy duty free cigs when returning from the EU. You can Duty paid, but they must be for your own use and not for resale/swap or services in kind.

You believe you can, which is why I catch so many smugglers each week when I shouldn't really be looking for them.
But you can buy them at duty free in the airports. In Greece they will sell you duty free cigs at the airport, to bring back to the UK. Gran Canaria is another place (if I remember correctly, but might be wrong).

The fact they will blatantly sell them (rightly or wrongly) to bring back to the UK, but the UK just stick to the rules shows we're mugs (IMHO of course).
 
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The consensus across the large banks and asset managers that I speak with is that recession will hit in 2020. Banks are already looking to position over the course of this year with a senior, regional, leader at one of Europe's biggest banks telling me that they will look to 'assess costs' by the end of the first half of 2019 if the outlook doesn't change. Hiring is already looking muted, although not shut off, in many areas.
 
But you can buy them at duty free in the airports. In Greece they will sell you duty free cigs at the airport, to bring back to the UK. Gran Canaria is another place (if I remember correctly, but might be wrong).

The fact they will blatantly sell them (rightly or wrongly) to bring back to the UK, but the UK just stick to the rules shows we're mugs (IMHO of course).
Long time back I know but only just seen it.
No, you can't buy "duty free" goods at airports to come back to UK from an EU country. They are called duty free but aren't.
They will have two prices on the shelf, one for EU travel and one for outside EU travel. You will be charged the price depending on your boarding pass.
I've been to Athens airport and you pay the duty paid price if you are coming back to the UK. Same with every EU airport I've been to in Spain, Italy and Holland. Same as UK, show an international boarding card and they charge you the duty free price, show a EU one and you pay the normal UK prices.

Gran Canaria is not in the EU financial zone so you can buy duty free (up to the limit allowed).
 
Long time back I know but only just seen it.
No, you can't buy "duty free" goods at airports to come back to UK from an EU country. They are called duty free but aren't.
They will have two prices on the shelf, one for EU travel and one for outside EU travel. You will be charged the price depending on your boarding pass.
I've been to Athens airport and you pay the duty paid price if you are coming back to the UK. Same with every EU airport I've been to in Spain, Italy and Holland. Same as UK, show an international boarding card and they charge you the duty free price, show a EU one and you pay the normal UK prices.

Gran Canaria is not in the EU financial zone so you can buy duty free (up to the limit allowed).
Actually, everyone gets charged the same price in the UK - you just have to remember to go to the tax reclaim back zone in UK airports. Something which I forgot so many times.
 

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