What's all this "a rebalancing was overdue?" An excuse for the Tories by a Tory. Bet you wouldn't have been saying that when Labour Harold devalued the pound. By precisely the same percentage as with this devaluation, by the way. At a time when there is severe pay restraint and has been for years, the devaluation has resulted in inflation with which pay can't keep up. You keep forgetting that your mighty leader Maggie made sure that we would be net importers of goods for ever more.

As for Keith's clutching at straws re UK growth, here are the facts. [Source, Independent yesterday.]

The eurozone's economy once again grew faster than the UK's in the third quarter of 2017, according to the latest data, confirming the divergence in economic fortunes between Britain and the continent as Brexit approaches in 2019.

Eurostat estimated on Tuesday that the collective GDP of the 19 states of the single currency area grew by 0.6 per cent in the three months to September, faster than the 0.4 per cent growth registered by the UK over the same period.

This follows eurozone GDP growth of 0.7 per cent in the second quarter, when the UK grew by just 0.3 per cent, also the weakest rate in the G7.

On an annual basis the GDP growth divergence was even more stark, with the eurozone expanding by 2.5 per cent in the third quarter while UK growth was just 1.5 per cent.

The eurozone is experiencing a cyclical recovery, after years of rolling financial crisis, while the UK has been hit this year by a rise in inflation stemming from the slump in sterling in the wake of last year?s Brexit vote.

Business investment has also been weak in the UK due to firms' concerns about trade arrangements after March 2019.

Aren't facts inconvenient, Keith?