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Brexit has created chaos in Britain – nobody voted for this


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Did you see Christopher Wylie on Andrew Marr's program! Very interesting. Even the fantastically well informed Marr struggled a bit! This is going to run and run. The pink haired one must have an exceedingly high IQ even though he is pro Brexit. An extreme outlier!

 

https://www.theguardian.com/uk-news/2018/apr/07/christopher-wylie-why-i-broke-the-facebook-data-story-and-what-should-happen-now

Edited by Grouse
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Just now, Grouse said:

Did you see Christopher Wylie on Andrew Marr's program! Very interesting. Even the fantastically well informed Marr struggled a bit! This is going to run and run. The pink haired one must have an exceedingly high IQ even though he is pro Brexit. An extreme outlier!

I didn't no. My hotel carries Sky but not the BBC.I go home tomorrow so will catch up on I Player. Thanks for the heads up.

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2 hours ago, nontabury said:

I agree these particular cuts have gone to far. Thankfully the government is now seriously considering extra funds for the NHS. Let’s hope they also increase money for the police, who seem to have a major problem in London with the continuose influx of unwanted immigrants.

 However you seem to think all the cuts over the last few years are the result of Brexit, and that if we were to remain in the E.U. these cuts would not/ will not take place. 

 

 

 

 

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NO, I am not suggesting that these cuts are a result of Brexit. I'm merely pointing out the dire state of UK finances at a time when Brexit adds yet another layer of financial constraint which will almost compound the problem. And you say that goverenement is considering adding money into the NHS and you hope they will do the same thing for the police. The point is we don't have that money and it must be borrowed at a time when our levels of borrowing are already sky high, why else do you think we had the austerity program.

Edited by simoh1490
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49 minutes ago, simoh1490 said:

NO, I am not suggesting that these cuts are a result of Brexit. I'm merely pointing out the dire state of UK finances at a time when Brexit adds yet another layer of financial constraint which will almost compound the problem. And you say that goverenement is considering adding money into the NHS and you hope they will do the same thing for the police. The point is we don't have that money and it must be borrowed at a time when our levels of borrowing are already sky high, why else do you think we had the austerity program.

Why does Brexit add yet another layer of financial constraint? 

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4 hours ago, nauseus said:

Why does Brexit add yet another layer of financial constraint? 

Because EVERY economic model and forecast produced by organisations of note that I have ever seen have concluded there will be a negative financial impact from Brexit - where they differ is in the size of that impact and its duration. Whether you agree with the usefulness or accuracy of financial modelling or not is irrelevant, it is the tool that everyone uses and there is no alternate and  all the models broadly say the same thing. Here's what one model says from Rand Corp:

 

  • The economic analysis shows that the UK will be economically worse-off outside of the EU under most plausible scenarios. The key question for the UK is how much worse-off it will be post-Brexit.
  • None of the ‘soft Brexit’ scenarios would be as beneficial to the UK as the trilateral UK-EU-US agreement. All three scenarios are likely to lead to modest financial losses to the UK economy compared to the current arrangement of EU membership.

https://www.rand.org/randeurope/research/projects/brexit-economic-implications.html

 

Here are two further papers on the same subject from Ruhr and Rabobank: 

http://www.rwi-essen.de/media/content/pages/publikationen/ruhr-economic-papers/rep_17_700.pdf

https://economics.rabobank.com/publications/2017/october/assessing-economic-impact-brexit-background-report/

 

I find it difficult to imagine that Team Brexit will accept even for one moment that Brexit will result in any financial loss to the UK economy but that appears to be the reality, that being the case the discussion on this point ends here. For others however, the question is how those losses will be covered, do we borrow, raise taxes, endure further austerity or do we find something else to sell. Estimates for Brexit related losses from a variety of sources range vary significantly based on the approach that is adopted but a minimum figure would appear to be around 10% of GDP growth between today and 2030. 

 

The UK budget deficit is currently around £50 billion per year, that is money that gets added to the national debt which is currently around £1.78 trillion. But if all liabilities such as pensions are included, that number is actually closer to £4.8 trillion.

http://www.nationaldebtclock.co.uk/

http://www.bbc.com/news/business-42788489

https://www.ukpublicspending.co.uk/uk_national_debt_chart.html

 

Whatever the negative economic impact from Brexit is, those losses will be added to existing debt and we will need to service that debt (pay interest on it), which at a time of rising interest rates and falling credit ratings will be very costly.

 

Further Austerity: Below is a summary table of cuts made thus far to government departments and services, you've read the news regarding rising crime levels, the armed services manning levels, NHS performance and disability care levels , do you really think we can cut much further without further negative social impact!

 

image.png.9bc9d90a0cd6edcaf59d81491e00f875.png

 

http://www.bbc.com/news/business-39897498

Edited by simoh1490
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2 minutes ago, Khun Han said:

 

As has been pointed out many times, these forecasts by pet economists of anti-brexit forces never vary much from the economic model of the UK continuing along it's present course under worsening trading relations with the EU. Same old same old from discredited economists working to orders from corporate globalists. And it's getting very boring. How many times to these goons have to get their forecasts so completely wrong before people wise up?

 

Ooooo, "anti-Brexit forces, pet economists, discredited economists, goons, corporate globalists" - all the usual blah blah escape clauses then, what else to do when reality hits you in the face except to blame it on everything and everybody not related to Brexit.

 

You have of course missed the point yet again insomuch as this is about adding to existing debt levels. If of course you believe that Brexit will not result in any additional debt for any period of time, you are unique amongst men, the economic equivalent of a  side show freak. 

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17 minutes ago, simoh1490 said:

 

Ooooo, "anti-Brexit forces, pet economists, discredited economists, goons, corporate globalists" - all the usual blah blah escape clauses then, what else to do when reality hits you in the face except to blame it on everything and everybody not related to Brexit.

 

You have of course missed the point yet again insomuch as this is about adding to existing debt levels. If of course you believe that Brexit will not result in any additional debt for any period of time, you are unique amongst men, the economic equivalent of a  side show freak. 

 

But the problem is: your 'reality' keeps on failing to hit us in the face, over and over and over again. Your 'reality' is permanently postponed.

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1 minute ago, Khun Han said:

 

But the problem is: your 'reality' keeps on failing to hit us in the face, over and over and over again. Your 'reality' is permanently postponed.

You are familiar with the boiling frog syndrome of course! If you were expecting one big almighty slap you would be disappointed, the reality is a series of lesser slaps over time, the gift that keeps on giving, you only need to look at government cuts and read the newspapers to understand that.

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3 minutes ago, simoh1490 said:

You are familiar with the boiling frog syndrome of course! If you were expecting one big almighty slap you would be disappointed, the reality is a series of lesser slaps over time, the gift that keeps on giving, you only need to look at government cuts and read the newspapers to understand that.

Other than the currency devaluation (which is a double-edged sword), what is the series of lesser slaps? 

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7 minutes ago, Khun Han said:

Other than the currency devaluation (which is a double-edged sword), what is the series of lesser slaps? 

Ah yes - a double edged sword......a lower currency helps exports......except they're  trying to leave the UK's biggest export market as we speak.

Edited by Airbagwill
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