Full article as that quote cherrypicked about the only positive.
http://www.bbc.co.uk/news/uk-politic...endum-36661918
The owner of Wrightbus (a bus builder in Northern Ireland -think they make the London buses) said he voted leave due to immigration and then said that the low pound was good as he exported more outside Europe. I guess it's a case of screw his staff though who have to pay increased costs for everything (and NI is already dear due to loads of stuff being shipped from UK mainland). Maybe he'll give them a pay increase to make up for the higher living costs. ;-)
i think the tax increases you (and i) are foreseeing will not even hit the majority of those who voted leave
That was the market reaction to nothing actually changing yet as far as Britain's role in the EU is concerned.
Things could just as easily spike the same amount in either direction whenever major news comes out about the state of negotiations.
That's what worries some people. The uncertainty about what Britain's role in Europe and the world is going to be at the end of it all. That uncertainty is not good for attracting major investors and for people looking to undertake big projects. Big projects and long term investment that will be affected by the result of negotiations are likely to be in limbo for the next two and a half years.
It's not the end of the world, and that uncertainty will fade, but the next two and a half years could be a rough ride.
Last edited by klogaroth; 2016-06-29 at 08:47 PM.
It really isnt.
The FTSE 100 are mostly made up of dollar earners, they gain from a low pound, whereas FTSE 250 are made up of domestic companies, consequently, they are not going so well.
down 13% since 23rd (sharp decline), up 5.8%~ for ftse 250. ftse 100 is basically where it was on 23rd.
The economy stabilizing is a function of you not triggering art 50.nothing has changed. we've still got a veto vote in EU affairs until article 50's triggered. economy will stabalise and we'll form a plan of exit,
No you wont - This is simply a non starter for numerous reasons - It wont happen.we'll get everything we want from talks because our economy will be thriving with or without EU membership.
you have wasted and lost more money than 50 years worth of EU membership fees - The pound and the markets have been made to stabilize by an enormous effort (read money wasting) by the bank of England - This is also overlooking the fact that now all the markets priced in was the coming probable end, of an uncertain nature - Once the leavers decide what kind of post relationship the UK wants, there will further reactions, once the button is pushed it will be further reactions, and whats worse? - Until then, there wont be any new investment, because of the uncertain future.what a glorious decision we've made honestly
What the people on benefits and pensions? Ones are paid through government money - either they get slashed or the working class has to pay more - the others are through the stock market which you can't keep propping up with money forever.
If anything, the remainers - upper-middle class and upper class - won't have to deal it because they will move their money overseas, if they haven't already. You can't tax the rich that's how the real world works.
Bingo! That's why I keep saying that the whole Brexit thing will result in a whole load of nothing. Before someone starts yapping about the "democratic will of the people" let me make something clear - now it isn't the people vs the government, now it's the world vs the UK government which is a massive difference.
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Nah - those are the people that will have to boot it. Basically, you will be in a situation where your working class and lower-middle/middle-middle class will have their earnings taxed to shit.
Even if the UK gets a good deal out of this, money has been lost, markets are more insecure this translates to it effecting people all around. People their employers don't get credit as easy, loans are no longer as easily granted. Customers no longer look to expand as easily invest as easily.
The start of the damage has already been done, this is also just the beginning again even if things end up positive, it will always start out as a negative.
Alas telling this, explaining this to those who generally follow the populist vote is a hard task that will always be met by disbelieve.
Oh, I am not disproving that the damage has been done. UK taxpayer money, EU taxpayer money, US taxpayer money, Japanese taxpayer money and Chinese taxpayer money has been flushed down the drain for some political bickering while the UK's international prestige and reputation for stability have taken a massive hit that would take years to recover.
However, I am looking at it long-term, meaning that things will be better in the end once their governments gets the shit together and realises that they have to tell the public that this isn't going to fly.
Your last sentence speaks truth and I am sad to admit it.
As far as the impact of tax changes on very low income families who are below the basic allowance threshold or very close to it things are a bit complicated.
The long term issue is the rate of change of the basic allowance threshold. If that doesn't keep track of inflation, because the government aren't raising it that fast, then people who previously weren't paying tax start paying tax.
The absolute worst case scenario for this is if wages rise faster than the basic allowance but slower than inflation. Then not only are people paying tax who weren't paying it before, they are starting to pay greater and greater amounts of money in tax in terms of value.
This is something that the chancellor would generally avoid at all costs. But that money may still end up being taken from the same people in a roundabout way via a reduction of services.
Last edited by klogaroth; 2016-06-29 at 08:39 PM.
It's partially the EU fault that they became so disconnected and let lies and falsehoods take on their own life. In general and in an ideal world every teenager in the EU should be aware of what the EU is, does and more importantly isn't and doesn't do. Considering the expansion that took place early this century.
On the other hand if this took place the same fools shouting nonsense now would be shouting that the "eu" is indoctrinating teens. Also important to note it was the older generations being in favor of a thing like a brexit more so than younger generations. Regardless more funds should be invested in PR, how much of a loss it in resources it is to get it done in the end.
Agreed. I searched "Brexit" on Youtube and found this: https://www.youtube.com/watch?v=Ys_EyMCYbHo . In the roughly 5 min in which Mr Watson was talking I only heard buzzwords - "immigrant"; "leftist"; "populist"; "authoritarian"; "patriotism"; etc. Now, if you are educated on how the real world works you wouldn't fall for this kind of blabber but not a lot of people are.
"Remain" failed to address what would happen to the working class should Brexit come through and that's why the lost.