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The economic impact of Brexit on the UK

darkhorse

Well-known member
Joined
Dec 12, 2005
Messages
17,954
There are lots of threads already on Brexit but none specifically to tract its economic impact within the UK itself.
In the run up to the vote, many, if not most, industrial sectors expressed their extreme alarm at the prospect of Brexit - especially financial services, the car industry, the pharma industry and many others.
Please post news and discussions here relating to the unfolding disaster that Britain has just brought upon itself.
While some may dismiss these as short terms losses or scare stories, others like myself believe that Britain has just committed economic suicide - the impact of which will affect every aspect of economic life in the UK for decades to come and the scale of which is only slowly emerging

I'll start with some news items emerging on day 3 after the referendum ...

Thousands of London banking job cuts to start next week
Ford considers UK job cuts after Brexit vote as carmakers eye future - FT.com
Multinationals warn of job cuts and lower profits after Brexit vote | Politics | The Guardian
 


FunkyBoogaloo

Well-known member
Joined
Jul 14, 2015
Messages
2,869
There are lots of threads already on Brexit but none specifically to tract its economic impact within the UK itself.
In the run up to the vote, many, if not most, industrial sectors expressed their extreme alarm at the prospect of Brexit - especially financial services, the car industry, the pharma industry and many others.
Please post news and discussions here relating to the unfolding disaster that Britain has just brought upon itself.
While some may dismiss these as short terms losses or scare stories, others like myself believe that Britain has just committed economic suicide - the impact of which will affect every aspect of economic life in the UK for decades to come and the scale of which is only slowly emerging

I'll start with some news items emerging on day 3 after the referendum ...

Thousands of London banking job cuts to start next week
Ford considers UK job cuts after Brexit vote as carmakers eye future - FT.com
Multinationals warn of job cuts and lower profits after Brexit vote | Politics | The Guardian
So, we have JP Morgan, Morgan Stanley and the infamous Goldman Sachs (among others mentioned).

Then we have a US car manufacturer.

Then multinationals.


"Hello Democracy. This is Wall St calling. Tut! Tut!"
 

Sister Mercedes

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Joined
Dec 19, 2011
Messages
20,461

Sister Mercedes

Well-known member
Joined
Dec 19, 2011
Messages
20,461
Sunderland voting Brexit was also odd, since the largest employer is Nissan, there to access the single market.
 

GDPR

1
Joined
Jul 5, 2008
Messages
217,847
If Norway and Iceland can survive quite happily outside of the EU than so can Britain.
 

Artful_Dodger

Active member
Joined
Feb 11, 2016
Messages
197
Ah, yes.....the multi-millionaires are in panic mode...

Come on socialists and bleeding heart lefties....do the work of your corporate masters and rejoice in the fascist union
 

drummed

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Joined
Oct 22, 2010
Messages
36,191
If Norway and Iceland can survive quite happily outside of the EU than so can Britain.
Yep, once the UK can steal all the Norwegian oil without them noticing. Otherwise, your random glib assertion based on nothing more than your own ill considered opinion free of any evidence or factual information is a sign your posts are becoming more idiotic and laughable by the minute.
 

drummed

Well-known member
Joined
Oct 22, 2010
Messages
36,191
Ah, yes.....the multi-millionaires are in panic mode...

Come on socialists and bleeding heart lefties....do the work of your corporate masters and rejoice in the fascist union
Well, Boris hopes for the fascist union are looking grim as the Scots are trying to escape it.
 
Joined
Mar 11, 2007
Messages
69
Oh no! There's short-term difficulty as a result of Brexit.

The people who voted to leave know this. They sacrificed short-term stability for long-term freedom from an EU superstate. I can only commend their bravery.

The Irish radio discussions this morning, what I could stand of them, were disgraceful. David McWilliams was on one, with some woman who suggested that the fallout was dawning on those who voted to leave, and that they voted as a protest.

This is the same kind of thing we heard after Nice here. "Ah, sure you didn't know what you were doing. You were just angry. You were irrational. Now, you can vote again until you give us the rational answer."

She wondered at people in the regions, who receive proportionally more EU funds, voting to leave. This is not strange. It makes sense. People who have dignity don't want to live on benefits, no matter where they come from. They know that that money has been taken from others by the force of taxation.

Most people are decent, as far as I can see. They want to make their own money. They're constantly being told by the chattering classes that they should be content to get this stolen money, these "state funds". Well, they've taken it for years, and clearly they don't like it.
 

gatsbygirl20

Well-known member
Joined
Dec 1, 2008
Messages
22,551
Oh no! There's short-term difficulty as a result of Brexit.

The people who voted to leave know this. They sacrificed short-term stability for long-term freedom from an EU superstate. I can only commend their bravery.

The Irish radio discussions this morning, what I could stand of them, were disgraceful. David McWilliams was on one, with some woman who suggested that the fallout was dawning on those who voted to leave, and that they voted as a protest.

This is the same kind of thing we heard after Nice here. "Ah, sure you didn't know what you were doing. You were just angry. You were irrational. Now, you can vote again until you give us the rational answer."

She wondered at people in the regions, who receive proportionally more EU funds, voting to leave. This is not strange. It makes sense. People who have dignity don't want to live on benefits, no matter where they come from. They know that that money has been taken from others by the force of taxation.

Most people are decent, as far as I can see. They want to make their own money. They're constantly being told by the chattering classes that they should be content to get this stolen money, these "state funds". Well, they've taken it for years, and clearly they don't like it.
I can see that the UK could prosper outside the EU.

But that would only come after a harsh period of adjustment. Are people ready for that? Are any of us ever ready for retrenchment, austerity, unemployment--even if we hope that things will improve eventually?

I'm wondering about this idea that "people don't want benefits. they want to make their own money"

But what will they live on in the meantime?

Already Cornwall and Yorkshire who depend heavily on EU funding, are demanding as a matter of urgency that the UK taxpayer replace the EU funding that they now fear may be withdrawn

It is perfectly reasonable to ask if people considered the full reality of what might happen before they voted.
 

hollandia

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Joined
Sep 11, 2012
Messages
30,151
Am I alone in thinking that upwards of 98% of these thread contents are utter, utter rubbish. This was nothing more than England committing social, political and economic suicide.

The Scots will be gone in short order after attempting to foil brexit via holyrood. The North of England, post industrial wales and the economic basket case that is Ni, will deteriorate further. yep, Europe is in need of reform. However, it should be pointed out that the UK played a full part in bringing it to where it is now, over the last 43 years. And this could have been so easily avoided if at any point over the last thirty years, the various Tory leaderships had said, "we are pro Europe, this is our policy, if you don't like it the door is that way", in the way labour had to face down the militant tendency in the eighties.
 

DT123

Well-known member
Joined
Aug 31, 2011
Messages
14,145
Am I alone in thinking that upwards of 98% of these thread contents are utter, utter rubbish. This was nothing more than England committing social, political and economic suicide.

The Scots will be gone in short order after attempting to foil brexit via holyrood. The North of England, post industrial wales and the economic basket case that is Ni, will deteriorate further. yep, Europe is in need of reform. However, it should be pointed out that the UK played a full part in bringing it to where it is now, over the last 43 years. And this could have been so easily avoided if at any point over the last thirty years, the various Tory leaderships had said, "we are pro Europe, this is our policy, if you don't like it the door is that way", in the way labour had to face down the militant tendency in the eighties.
Quite the little fascist aren't you?

Your way or the highway. A perfect little Brussells stooge.

Fortunately the people of Britain have more back bone when it comes to facing down nasty little fascists.
 
O

Oscurito

Faisal Islam has just confirmed on Sky News, as per one major pro-leave MP.

The leave side has no post-Brexit plan.

Number 10 has no post-Brexit plan.

There is no post-Brexit plan.


The only person in the UK with a plan is Nicola Sturgeon and her plan is get her country out of the ever-growing mess.
 

Adam Battersby

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Joined
Apr 27, 2016
Messages
997
Why Brexit is worse for Europe’s economy than it is for ours

Just take a look at the figures. The predictions were that the London market would go into meltdown if we voted to leave the EU. It would be Lehman Brothers all over again, except probably far worse. The index could lose 20 per cent or 30 per cent of its value we were told. In fact, by lunchtime the FTSE had lost 260 points, or 4.2%. That’s a nasty hit. But it’s only fallen back to its level of, er, last Friday. In effect , a week of gains have been lost. It is still up on the beginning of February. You need a very fevered imagination to describe that as a catastrophe.

The really heavy losses are on the other side of the English Channel. Madrid’s IBEX 35 is down by 12.5 per cent. Milan’s MIB is down by 11 per cent. In Paris the CAC-40 is off by 8.4 per cent and even Germany’s mighty DAX is off by 7 per cent. In short, the losses across Europe are far worse than ours. That is, to say the least, a bit odd. After all, Brexit is meant to be an economic catastrophe for us, not for our neighbours, who have all been wise enough to stay in the EU, and will carry on enjoying all its wonderful economic benefits.

So what’s up? The explanation is simple. In reality, the EU doesn’t make much difference to the UK economy one way or another. We export less and less to it every year, and the Single Market, while valuable in some ways, was never much use for the kind of high-end services we sell abroad. By Christmas, we will have sorted out our political problems, and be growing again.


Why Brexit is worse for Europe
 


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