BREXIT is fuelling Britain's cost of living crisis, according to the former Deputy Governor at the Bank of England

[Social Media]

Campaigners promised leaving the EU would make the country richer and freer.

 

Brexit is fuelling Britain's cost of living crisis, according to the former Deputy Governor at the Bank of England Sir Charlie Bean.

 

Interviewed by BBC Radio 4 on Thursday, the economist said inflation appeared to be "worse" in Britain compared to other European countries. 

When asked why, he explained the labour market was "much tighter" than on the continent, reflecting the exodus of half a million workers during the COVID pandemic. 

 

"Brexit has made it harder for firms to suck in the extra labour they need at short notice from abroad," he said. 

Labour shortages create inflationary pressure as businesses have to compete more by offering higher salaries, which feed into the economy. 

 

Unemployment was at a historically low level of 3.8% in April, according to the Office for National Statistics, with the number of vacancies at record highs last year. 

Brexit has made it harder for EU nationals to come and work in Britain, though COVID also triggered many foreign workers to return home. 

[Henryford]

So nothing to do with the extra 1 TRILLION monopoly money the BoE printed and zero interest rates for 10 years. These clowns at the BoE are a joke. Buffoon Bailey's degree in history proves how much they know about economics.

[robblok]

1 hour ago, Henryford said:

So nothing to do with the extra 1 TRILLION monopoly money the BoE printed and zero interest rates for 10 years. These clowns at the BoE are a joke. Buffoon Bailey's degree in history proves how much they know about economics.

Yea ignore people who studied for it and know it better and keep thinking Brexit was a good idea. Its just like how many non Brits on this forum told the Bexiteers before. This is going to work well for you. Guess what we were right. More and more Brits are seeing that they were lied too.

 

Mind you not all is good in the EU either but its the better of the two options. 

[Kwasaki]

3 hours ago, robblok said:

Yea ignore people who studied for it and know it better and keep thinking Brexit was a good idea. Its just like how many non Brits on this forum told the Bexiteers before. This is going to work well for you. Guess what we were right. More and more Brits are seeing that they were lied too.

 

Mind you not all is good in the EU either but its the better of the two options. 

Disagree many people voted for Brexit for different reasons we know that too.

 

Brexit has never been given a chance to settle all the problems it was certainly going to cause and at the present time the ones moaning are a lot winging contrary poms living in UK.

 

Why people only go on about brexit and then not mention Covid followed by Russia and Ukraine is beyond me.

[JayClay]

18 minutes ago, Kwasaki said:

Why people only go on about brexit and then not mention Covid followed by Russia and Ukraine is beyond me.

Because out of the three factors listed, which are all contributing to the mess the UK is in, Brexit is the only one thats self imposed.

[Kwasaki]

7 minutes ago, JayClay said:

Because out of the three factors listed, which are all contributing to the mess the UK is in, Brexit is the only one thats self imposed.

Yes for sure anyone thinking it would be easy leaving the mafia club would be disappointed.

[robblok]

1 hour ago, Kwasaki said:

Disagree many people voted for Brexit for different reasons we know that too.

 

Brexit has never been given a chance to settle all the problems it was certainly going to cause and at the present time the ones moaning are a lot winging contrary poms living in UK.

 

Why people only go on about brexit and then not mention Covid followed by Russia and Ukraine is beyond me.

It might be beyond you but they compared the UK with countries in Europe who also had Covid and Russia.. and guess what the UK did worse. So Brexit is making your life worse then it should have been.

 

Actually i have seen so many vids about Brexit Poms moaning now (once you click one youtube seems to think you want to see them all). Seems there are quite a lot of people unhappy about it and would NEVER have voted Brexit if they knew about all the problems. 

[Kwasaki]

1 hour ago, robblok said:

It might be beyond you but they compared the UK with countries in Europe who also had Covid and Russia.. and guess what the UK did worse. So Brexit is making your life worse then it should have been.

 

Actually i have seen so many vids about Brexit Poms moaning now (once you click one youtube seems to think you want to see them all). Seems there are quite a lot of people unhappy about it and would NEVER have voted Brexit if they knew about all the problems. 

Yes the brits of today are not the same.

My family cope well so fortunate but sad many are finding it really tough these days.

I'm glad I didn't stay there.

[ozimoron]

Time to rename The Thames to De Nile.

Edited June 23, 2023 by ozimoron

[jak2002003]

Could it also be due to the foreign owned energy, water and utility companies constantly hiking their prices to crazy expensive levels, while making record amounts of profit at the same time?  

 

Also, all the profit they make goes out of the country and is not invested in repairs or improvements, hence why we now have raw sewerage being pumped into our rivers and seas, and water pipes leaking vast amounts of water daily, and NO new reservoirs being built, and the government lets them get away with it without fines or penalties?  

 

There is also some 'jump on the band wagon' going on to I suspect.  When some companies put up the prices of their products for real reasons to do with transport costs or rise in cost of raw materials, other companies see people will pay more for their goods too, and so put their prices up (even if extra costa re not affecting production of their own goods).  

 

 

 

 

[stratocaster]

The European Court of Justice on Thursday confirmed definitively that UK citizens lost their EU rights as a result of the 2016 Brexit referendum.

The Court was ruling on three legal challenges on appeal after they were first rejected by the General Court of Justice. 

The three cases had been brought forward by UK nationals residing in the UK and EU member states who demanded that the court annul or partly annul the January 2020 decision by the Council of the EU to approve the Withdrawal Agreement.

They claimed that the treaty and the Council's backing of it had deprived them of the rights they had exercised and acquired as EU citizens.

But, like the General Court before it, the Court of Justice ruled that the loss of EU rights is an "automatic consequence of the sole sovereign decision taken by the United Kingdom to withdraw from the European Union, and not of the withdrawal agreement or the Council's decision."

[BritManToo]

On 6/23/2023 at 12:04 PM, Kwasaki said:

Why people only go on about brexit and then not mention Covid followed by Russia and Ukraine is beyond me.

It's called 'having an agenda'.

[JonnyF]

On 6/23/2023 at 8:13 AM, robblok said:

Yea ignore people who studied for it and know it better and keep thinking Brexit was a good idea. Its just like how many non Brits on this forum told the Bexiteers before. This is going to work well for you. Guess what we were right. More and more Brits are seeing that they were lied too.

 

Mind you not all is good in the EU either but its the better of the two options. 

Maybe you could look at recent economic facts as opposed to reciting 6 year old cliches?

 

Germany in recession.

 

https://www.reuters.com/markets/europe/german-business-sentiment-falls-further-june-2023-06-26/

 

EuroZone in recession.

 

https://www.cnbc.com/2023/06/08/euro-zone-enters-recession-after-germany-ireland-growth-revision.html

 

UK doing fine, avoiding recession.

 

https://www.nytimes.com/2023/05/12/business/britain-economy-1q-gdp.html

 

It would appear the "cliff edge" of leaving the EU was a myth. Nothing more than Project Fear. 

 

Charlie Bean should stop trying to blame the failings of the BOE on other factors.

 

 

[RayC]

5 hours ago, JonnyF said:

Maybe you could look at recent economic facts as opposed to reciting 6 year old cliches?

 

Germany in recession.

 

https://www.reuters.com/markets/europe/german-business-sentiment-falls-further-june-2023-06-26/

 

EuroZone in recession.

 

https://www.cnbc.com/2023/06/08/euro-zone-enters-recession-after-germany-ireland-growth-revision.html

 

UK doing fine, avoiding recession.

 

https://www.nytimes.com/2023/05/12/business/britain-economy-1q-gdp.html

 

It would appear the "cliff edge" of leaving the EU was a myth. Nothing more than Project Fear. 

 

Charlie Bean should stop trying to blame the failings of the BOE on other factors.

 

 

And this represents the UK doing fine?

 

https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpmonthlyestimateuk/january2023#:~:text=Monthly GDP-,Monthly real gross domestic product (GDP) is estimated to have,coronavirus levels (February 2020).

 

As for falling off the cliff edge: Maybe not, but nonetheless a steady and continuous decline with little, if any, sign of the promised benefits of Brexit.

 

https://ukandeu.ac.uk/brexit-and-the-economy-what-do-we-know/

[JonnyF]

11 minutes ago, RayC said:

And this represents the UK doing fine?

 

https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpmonthlyestimateuk/january2023#:~:text=Monthly GDP-,Monthly real gross domestic product (GDP) is estimated to have,coronavirus levels (February 2020).

 

As for falling off the cliff edge: Maybe not, but nonetheless a steady and continuous decline with little, if any, sign of the promised benefits of Brexit.

 

https://ukandeu.ac.uk/brexit-and-the-economy-what-do-we-know/

Why are you quoting estimates that are 3 months old? It's already been established that the UK did better than forecasts predicted (surprise, surprise!!)

 

Facts are, as of today the Eurozone is in recession and the UK isn't. So it would appear that leaving the EU was not the catastrophe it was portrayed to be (surprise, surprise!!) 

 

Must be tough being proved wrong.

[RayC]

4 hours ago, JonnyF said:

Why are you quoting estimates that are 3 months old? It's already been established that the UK did better than forecasts predicted (surprise, surprise!!)

 

Facts are, as of today the Eurozone is in recession and the UK isn't. So it would appear that leaving the EU was not the catastrophe it was portrayed to be (surprise, surprise!!) 

 

Must be tough being proved wrong.

My bad.

 

Here's the latest figures which show how "well" the UK economy is doing. Imo little reason to put up the bunting just yet 

 

https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpmonthlyestimateuk/april2023

 

The Eurozone economy has had two consecutive quarters of negative growth, whereas the UK has shown marginal growth over the same period, therefore Brexit is justified!? What about the previous 7 years since the referendum? No comment on the points raised in 'UK in a changing Europe' report? (link repeated for ease of reference)

 

https://ukandeu.ac.uk/brexit-and-the-economy-what-do-we-know/

 

As you say, must be tough being proved wrong.

[kwilco]

Countries all over the world are facing very basic problems at present, /CoL, Energy, inflation but only the UK has to deal with the problems caused by Brexit on top of all that.

[ozimoron]

On 6/27/2023 at 9:21 AM, BritManToo said:

It's called 'having an agenda'.

No, it's real simple. The single difference between the EU countries and the UK is Brexit.

[Kwasaki]

10 hours ago, ozimoron said:

No, it's real simple. The single difference between the EU countries and the UK is Brexit.

Yeah Germany is doing great.

[kwilco]

On 6/27/2023 at 3:21 AM, BritManToo said:

It's called 'having an agenda'.

What does that even mean?

Basically it is a cliche used by those with no argument.

A sort of hint that the person believes in conspiracy theories?

Does in anyway invalidate an argument?

Of course not!

 

[kwilco]

On 6/23/2023 at 6:04 AM, Kwasaki said:

Why people only go on about brexit and then not mention Covid followed by Russia and Ukraine i

They don't...the argument against Brexit is that ON TOP OF all those problems, UK has a 4 % to 10 % deficit brought about by Brexit. It has left UK less able to deal with international issues, political, social and economic, we are now the sick man of Europe again ....just like before we joined Europe.

[Kwasaki]

9 minutes ago, kwilco said:

They don't...the argument against Brexit is that ON TOP OF all those problems, UK has a 4 % to 10 % deficit brought about by Brexit. It has left UK less able to deal with international issues, political, social and economic, we are now the sick man of Europe again ....just like before we joined Europe.

Not we I dumped and escaped the UK tax prison and heath & safety brigade in 2005.

 

Many disagree with you about Brexit as would my family in UK they knew there would be problems with leaving the mafia.

[BritManToo]

On 6/23/2023 at 6:48 AM, Social Media said:

Brexit has made it harder for EU nationals to come and work in Britain, though COVID also triggered many foreign workers to return home. 

I thought that was the whole idea of Brexit?

[kwilco]

35 minutes ago, Kwasaki said:

Not we I dumped and escaped the UK tax prison and heath & safety brigade in 2005.

 

Many disagree with you about Brexit as would my family in UK they knew there would be problems with leaving the mafia.

Almost unintelligable response.. on par for Brexitism. But also completely tangential to the point I was making. QED.

[Kwasaki]

24 minutes ago, kwilco said:

Almost unintelligable response.. on par for Brexitism. But also completely tangential to the point I was making. QED.

A majority of people wouldn't expect anything else from someone who thinks like you.

[vinny41]

Recent Poll taken last week
A large majority of those polled – 72% – said they would vote again the way they did in 2016 even knowing what they know seven years later; while 72% also said they wanted to stop discussing Brexit.

https://www.theguardian.com/politics/2023/jun/22/leave-voters-brexit-success-poll

[ozimoron]

1 hour ago, BritManToo said:

I thought that was the whole idea of Brexit?

You're correct but the absence of those foreign workers  is one of several reasons why Brexit was a bad thing for the economy. Great for xenophobes though.

 

The economic warnings were out there in abundance bit ideology trumps economics for the far right.

Edited July 2, 2023 by ozimoron

[kwilco]

2 hours ago, BritManToo said:

I thought that was the whole idea of Brexit?

Not all Brexiteers are racists, but all racists are Brexiteers.

[kwilco]

1 hour ago, ozimoron said:

You're correct but the absence of those foreign workers  is one of several reasons why Brexit was a bad thing for the economy. Great for xenophobes though.

 

The economic warnings were out there in abundance bit ideology trumps economics for the far right.

We've lost tens of thousands of doctors and nurses from the NHS alone. - and of course truck drivers, carers lots of labourers, the tourist and catering industries.... to name but a few.UK is in th unusual situation of having job vacancies with no=one to fill them and a shrinking economy.

[kwilco]

2 hours ago, Kwasaki said:

someone who thinks

Thanks!

Edited July 2, 2023 by kwilco