| The Brexit effect, is it really a 4% hit to our economy ? Reeves thinks so. 12:11 - Oct 20 with 3257 views | WeWereZombies |
https://www.bbc.co.uk/news/articles/cy0ypx859x8o
'in her remarks at a key international economic committee at the International Monetary Fund...the chancellor told the world's leading finance ministers and central bankers: "The UK's productivity challenge has been compounded by the way in which the UK left the European Union."
She quoted the Office for Budget Responsibility's calculation of a 4% long-term hit relative to remaining in the EU, and said the UK "acknowledges this" in seeking stronger trade ties. The issue is sensitive right now with government deciding on negotiating positions for the Brexit "reset" including scrapping most post-Brexit checks on food and farm trade, and helping UK manufacturers join consortia to bid for Europe's surging defence budgets.' [Post edited 20 Oct 12:12]
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| The Brexit effect, is it really a 4% hit to our economy ? Reeves thinks so. on 10:39 - Oct 21 with 330 views | Herbivore |
| The Brexit effect, is it really a 4% hit to our economy ? Reeves thinks so. on 10:27 - Oct 21 by Leaky |
To be fair I havn't noticed any difference. In my social circle I cant rember when anyone mentions Brexit, only on here. |
You need to pay more attention, mate. |  |
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| The Brexit effect, is it really a 4% hit to our economy ? Reeves thinks so. on 11:03 - Oct 21 with 291 views | MrPotatoHead |
| The Brexit effect, is it really a 4% hit to our economy ? Reeves thinks so. on 10:17 - Oct 21 by OldFart71 |
Well thank you for that. My honest opinion is if another referendum took place I don't know which way I would vote. I merely said quoting another poster's gripe "We have found them lads" that maybe he /she had. The word maybe can be used as possible, but not definitely. To me "We have found them lads" seems a bit menacing to me. Not that I am a wallflower or a snowflake. But it has connotations of someone seeking retribution for a much graver offence than voting to leave the EU.
As I say, no one really knows the true effects. Those that lead the charge to leave the EU would say it was right and would echo my sentiments that it was right but not carried out as it should have been and we know now that many of the so called advantages we would have were a falsehood. |
The thing that always surprises me on Brexit is how it invariably becomes a discussion on the economy. That probably is hard to quantify, and whether its -0.5% or -4% is by the by really, there's no evidence its been beneficial and was never likely to be.
Irrespective of all of that its nowhere near the biggest regret we should have. We're a pariah state in Europe that isn't as powerful as some like to think we are. We've weakened our position on a global stage, lost our seat at the table as members of European Parliament and socially its been horrible for so many people. We're increasingly looked at like an island of backward, insular, bigoted pricks by much of Europe and on recent evidence they're probably right. All of that was entirely predictable and avoidable. That's more regrettable than a few basis points of GDP. |  | | |
| The Brexit effect, is it really a 4% hit to our economy ? Reeves thinks so. on 11:06 - Oct 21 with 281 views | RadioOrwell |
Before the vote - all those years ago - it was anticipated that leaving would mean a loss of around £90 billion a year to British Industry.
That's roughly what it appears to be.
I don't know why people are shocked. |  | | |
| The Brexit effect, is it really a 4% hit to our economy ? Reeves thinks so. on 11:07 - Oct 21 with 278 views | Leaky |
| The Brexit effect, is it really a 4% hit to our economy ? Reeves thinks so. on 10:39 - Oct 21 by Herbivore |
You need to pay more attention, mate. |
Sorry, what are you infering by you comment, if you mean do I go looking for comments on Brexit, no I don't. I think the only reason mentioned on here to stir up an argument. |  | | |
| The Brexit effect, is it really a 4% hit to our economy ? Reeves thinks so. on 11:19 - Oct 21 with 264 views | Leaky |
| The Brexit effect, is it really a 4% hit to our economy ? Reeves thinks so. on 20:53 - Oct 20 by Ryorry |
Watching Panorama right now on Labour's current house-building pledge & the considerable obstacles in the way of achieving it, one of those being how the price of everything associated with new builds (& renovations of older ones) has massively shot up in the past 5 years - from bricks & timber to electrical components. Also a massive shortage of skilled workers
Of course Brexsh1t isn't the only thing causing that, but it's certainly a big factor. Wonder how many of those badly affected by unaffordable housing costs voted 'Leave'.
So many UK voters are completely politically lazy, apathetic, uninformed, ill-informed, gullible - take your pick and mix. Anyone who could be bothered & had more than a handful of braincells to rub together could have seen after 10 minutes' investigation & thought that Tories were in it to keep their party together, in power & £££££££ in their private pockets via de-regulation once the EU weren't there to keep them in check.
The right to vote should also bring responsibility in voting. Education, education, education - including critical reading & thinking being mandatory on all school curriculae. |
Regarding the shortage of labour & the increase materials cost, a lot has to do with building HS2, this sucks in tons of building materials on a daily basis. HS2 cannot be built by AI it requires a lot of construction labour, which we have not encouraged school leaver's to train for. | | | |
| The Brexit effect, is it really a 4% hit to our economy ? Reeves thinks so. on 11:23 - Oct 21 with 249 views | Leaky |
| The Brexit effect, is it really a 4% hit to our economy ? Reeves thinks so. on 13:19 - Oct 20 by WeWereZombies |
We could have the Euro as a shadow currency alongside Sterling but going back in with the condition of replacing Sterling would also mean giving up our national reserves and that would be mad. One of the few good things that Thatcher did was to get a decent set of opt outs negotiated...and then Farage gets them pissed away...the chump. |
Didn't John Major try something similar matching Stirling to D.Mark, led to 15% interest on mortages back in the day. Imagine that would go down well in 2025 | | | |
| The Brexit effect, is it really a 4% hit to our economy ? Reeves thinks so. on 14:39 - Oct 21 with 179 views | Herbivore |
| The Brexit effect, is it really a 4% hit to our economy ? Reeves thinks so. on 11:07 - Oct 21 by Leaky |
Sorry, what are you infering by you comment, if you mean do I go looking for comments on Brexit, no I don't. I think the only reason mentioned on here to stir up an argument. |
You said you've not noticed anything different since Brexit, hence my comment that you need to pay more attention if you've really not noticed anything different. | |
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| The Brexit effect, is it really a 4% hit to our economy ? Reeves thinks so. on 15:05 - Oct 21 with 152 views | Pinewoodblue |
| The Brexit effect, is it really a 4% hit to our economy ? Reeves thinks so. on 10:17 - Oct 21 by OldFart71 |
Well thank you for that. My honest opinion is if another referendum took place I don't know which way I would vote. I merely said quoting another poster's gripe "We have found them lads" that maybe he /she had. The word maybe can be used as possible, but not definitely. To me "We have found them lads" seems a bit menacing to me. Not that I am a wallflower or a snowflake. But it has connotations of someone seeking retribution for a much graver offence than voting to leave the EU.
As I say, no one really knows the true effects. Those that lead the charge to leave the EU would say it was right and would echo my sentiments that it was right but not carried out as it should have been and we know now that many of the so called advantages we would have were a falsehood. |
When Reeves brought Brexit back into the debate about the economy it really was just a red herring and totally irrelevant.
Irrelevant to the current situation. Labour’s election manifesto was based on growing the economy, growing from the weakened position caused by Brexit.
Starmer and Reeves have failed miserably to achieve the degree of growth needed to fulfil their election promises.
Reeves is right Brexit weakened the economy but this has been known for years now and it isn’t the reason for the failure to achieve growth. It is a lack of competence at the head of government and it isn’t limited to the economy.
What makes it worse is the thought of Reform ‘winning’ the next election and if that happens the blame lies with Starmer. Elections are lost as much as they are won and Stsrmervis loser in chief. |  |
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| The Brexit effect, is it really a 4% hit to our economy ? Reeves thinks so. on 18:10 - Oct 21 with 109 views | OldFart71 |
| The Brexit effect, is it really a 4% hit to our economy ? Reeves thinks so. on 10:31 - Oct 21 by Herbivore |
How should it have been carried out and how would that have led to benefits for the country? You keep saying the problem isn't Brexit but how it was implemented but you've not said how it could have been implemented in a way that would have had a positive effect on the state of the country rather than a negative one. And we do know the effect of Brexit and it's not been positive on pretty much any metric. |
We were not sold Brexit just on the basis of having a financial advantage as per the headlines on Boris's bus regarding how much better the NHS would be off.
It was also said that our right to control our own laws would be of greater use.
But as we are finding out due to laws brought in by Tony Blair and also the European human rights laws and other laws allowing government access to all sorts of things these are being used to deny government the right to govern. Although with the current government more likely that they hide behind these laws and allow barristers and lawyers to prevent criminals from prosecutions and illegal immigrants from being deported even if they commit heinous crimes .
The current Labour government has sort to do deals with various other nations with very limited success as the deals seem to benefit the other countries more than us.
This is something the Tories should have made a better effort on. But then because you had many of both the major parties against brexit, Blair ,Cameron and May amongst them the for Brexit people were swimming against the tide and it ended up a half baked system that largely failed. |  | | |
| The Brexit effect, is it really a 4% hit to our economy ? Reeves thinks so. on 18:15 - Oct 21 with 105 views | Herbivore |
| The Brexit effect, is it really a 4% hit to our economy ? Reeves thinks so. on 18:10 - Oct 21 by OldFart71 |
We were not sold Brexit just on the basis of having a financial advantage as per the headlines on Boris's bus regarding how much better the NHS would be off.
It was also said that our right to control our own laws would be of greater use.
But as we are finding out due to laws brought in by Tony Blair and also the European human rights laws and other laws allowing government access to all sorts of things these are being used to deny government the right to govern. Although with the current government more likely that they hide behind these laws and allow barristers and lawyers to prevent criminals from prosecutions and illegal immigrants from being deported even if they commit heinous crimes .
The current Labour government has sort to do deals with various other nations with very limited success as the deals seem to benefit the other countries more than us.
This is something the Tories should have made a better effort on. But then because you had many of both the major parties against brexit, Blair ,Cameron and May amongst them the for Brexit people were swimming against the tide and it ended up a half baked system that largely failed. |
So much of this is just nonsense. We are rightly signatories to things like the EHRC, look at those who aren't signatories to it and tell me if you'd rather we be like them. Blaming Blair as well, FFS. The Tories were in power for 14 miserable years, they could have repealed any of these laws that apparently stopped them governing. Which laws are you referring to here by the way? Some specifics would be good. And the idea that the governments have somehow deliberately negotiated poor deals because they weren't in favour of Brexit is conspiracy type guff. | |
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| The Brexit effect, is it really a 4% hit to our economy ? Reeves thinks so. on 18:24 - Oct 21 with 96 views | WeWereZombies |
| The Brexit effect, is it really a 4% hit to our economy ? Reeves thinks so. on 11:23 - Oct 21 by Leaky |
Didn't John Major try something similar matching Stirling to D.Mark, led to 15% interest on mortages back in the day. Imagine that would go down well in 2025 |
The ERM was a somewhat lamontable episode in our economic history:
https://en.wikipedia.org/wiki/Black_Wednesday
I think a less formal arrangement is possible where the two currencies are generally accepted in most establishments in the united Kingdom as long as the exchange rate between them is stable - which it has been for a few years now.
[edit; now that I have read the relevant parts of the Wikipedia page I can state what I was about to, that the 15% interest rate was present before we joined the ERM 'On 8 October 1990, Thatcher entered the pound into the ERM at DM 2.95 to £1. Hence, if the exchange rate ever neared the bottom of its permitted range, DM 2.773 (€1.4178 at the DM/Euro conversion rate), the government would be obliged to intervene. In 1989, the UK had inflation three times the rate of Germany, higher interest rates at 15%, and much lower labour productivity than France and Germany, which indicated the UK's different economic state in comparison to other ERM countries.' but the Cabinet wets blinked on Black Wednesday and the interest rate temporarily jumped to 15% again 'It was later revealed that the decision to withdraw had been agreed at an emergency meeting during the day between Lamont, Major, foreign secretary Douglas Hurd, president of the Board of Trade Michael Heseltine, and home secretary Kenneth Clarke (the latter three all being staunch pro-Europeans as well as senior Cabinet ministers),[16] and that the interest rate hike to 15% had only been a temporary measure to prevent a rout in the pound that afternoon.'] [Post edited 21 Oct 18:35]
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