Already seeing 'disastrous' consequences of Brexit, Richard Branson says

[Tennis]

The British people have shot themselves in the foot by voting for Brexit, billionaire Richard Branson told CNBC on Tuesday.

"We're already seeing disastrous consequences with the way the pound has dropped. This is a number of years before Brexit actually takes place," the founder of Virgin Group told "Power Lunch" on Tuesday.

"There's been very, very little to be gained from it and there's been an awful lot to lose from it."

While Britain's top 100 countries have seen short-term benefits on their dollar and overseas earnings because of that currency drop, the rest of the business community isn't as lucky, Branson pointed out.

"The bulk of British companies, small companies, medium size companies are suffering, and they will suffer," he said. "You're going to find soon the British people are going to see the cost of boots going up. They're going to see job losses and they will start to realize the consequences of what they voted for."

Branson has long been a critic of Brexit, warning before the vote that it would be a financial disaster.

The decision to leave the European Union came in June, and a case is now before London's High Court on whether British lawmakers, and not the government alone, must trigger the formal process of leaving the EU.

Branson said that case is an important one to watch because it may give the House of Commons a free vote on the matter.

"I think the Conservative Party, in order to try to hold that party together, will try to push it through despite the damage it will do to the country," he said. However, about two-thirds of the members of Parliament were against Brexit, he noted.

"That would be quite interesting, especially if it's a hard Brexit. I think once people see the terms and the consequences of what's happening, things could change."

http://www.cnbc.com/2016/10/18/alrea...nson-says.html

You won't find any sympathy here. They made their choice and it's time they face up to the consequences of it.

[Medusa Cascade]

http://www.cnbc.com/2016/10/18/alrea...nson-says.html

You won't find any sympathy here. They made their choice and it's time they face up to the consequences of it.

Don't lump us together, we didn't all vote leave

[the game]

Don't lump us together, we didn't all vote leave

tennisace has spoken.

[GennGreymane]

tennisace has spoken.

Long live the Tenn

[Deleted]

A country that makes a referendum legally binding, whilst it's not even remotely possible based on their constitutional laws, deserves to get burnt. I have no sympathy for this, and I also know well enough from reading the IMF reports that the GBP isn't at the bottom yet, and the fact that they are going to lose around 150 billion pounds annually when they leave the EU, this doesn't even include the trade agreements they have to remake, which won't be cheap either.

The reports also say that the UK will be in recession for a few years and that recovering to pre brexit vote is going to take a decade.

[Theodarzna]

The man who lives on a private island with armed guards?

[Medusa Cascade]

A country that makes a referendum legally binding, whilst it's not even remotely possible based on their constitutional laws, deserves to get burnt. I have no sympathy for this, and I also know well enough from reading the IMF reports that the GBP isn't at the bottom yet, and the fact that they are going to lose around 150 billion pounds annually when they leave the EU, this doesn't even include the trade agreements they have to remake, which won't be cheap either.

The reports also say that the UK will be in recession for a few years and that recovering to pre brexit vote is going to take a decade.

You got a spare room? I want out

[sarahtasher]

Quick, usual suspects, quick, come bashing the opinion of a billionaire loudmouth with zero experience of public office and a knack for publicity stunts....what, you are leaving ?

[Netherspark]

A country that makes a referendum legally binding, whilst it's not even remotely possible based on their constitutional laws, deserves to get burnt.

It was not legally binding, it was nothing of the sort. The referendum was purely advisory.

[Deleted]

My understanding is that the UK government is under no legal obligation to follow the will of the electorate in this referendum.

It was voted on by parliament to give the British People the vote. Just because Labour/liberal democrats wish to continue in their downward spiral of self destruction doesn't mean the Tories will do the same.


Also lol at any party who wishes to stay in government not implementing the will of the majority. But i forget for some being in Europe is all they know so they are used to their government ignoring their people for the best of The E.U institutions and big companies.

This is always what Eurocrats do, if they don't get the vote they want they make a new vote until they get the result they want, that or find legal loopholes.

[Medusa Cascade]

It was voted on by parliament to give the British People the vote. Just because Labour/liberal democrats wish to continue in their downward spiral of self destruction doesn't mean the Tories will do the same.


Also lol at any party who wishes to stay in government not implementing the will of the majority. But i forget for some being in Europe is all they know so they are used to their government ignoring their people for the best of The E.U institutions and big companies.

This is always what Eurocrats do, if they don't get the vote they want they make a new vote until they get the result they want, that or find legal loopholes.

Farage said he'd call for another vote if they lost so

[Netherspark]

It was voted on by parliament to give the British People the vote. Just because Labour/liberal democrats wish to continue in their downward spiral of self destruction doesn't mean the Tories will do the same.

Also lol at any party who wishes to stay in government not implementing the will of the majority. But i forget for some being in Europe is all they know so they are used to their government ignoring their people for the best of The E.U institutions and big companies.

This is always what Eurocrats do, if they don't get the vote they want they make a new vote until they get the result they want, that or find legal loopholes.

Almost exactly half the population voted against it. A great deal of people voted based on lies peddled by the leave campaign.

[Shadowmelded]

It was voted on by parliament to give the British People the vote. Just because Labour/liberal democrats wish to continue in their downward spiral of self destruction doesn't mean the Tories will do the same.


Also lol at any party who wishes to stay in government not implementing the will of the majority. But i forget for some being in Europe is all they know so they are used to their government ignoring their people for the best of The E.U institutions and big companies.

This is always what Eurocrats do, if they don't get the vote they want they make a new vote until they get the result they want, that or find legal loopholes.

It's strange that the side that made "Parliamentary Sovereignty" such a big issue in the campaign now want to limit Parliament's powers.

[Tennis]

51.9% is hardly a "majority".

Almost exactly half the population voted against it. A great deal of people voted based on lies peddled by the leave campaign.

Semantics. This is how a democracy works. Britain voted to leave and the rest of the world will not go easy.

[Deleted]

Farage said he'd call for another vote if they lost so

Farage has no power besides being an MEP. He could call for it all he wanted, and most likely David Cameron would have told him where to go.

51.9% is hardly a "majority".

Almost exactly half the population voted against it. A great deal of people voted based on lies peddled by the leave campaign.

That's enough for Governments to be given a mandate to rule.

[Deleted]

Semantics. This is how a democracy works. Britain voted to leave and the rest of the world will not go easy.

Someone should tell New Zealand that. Currently we are in Trade negotiations with them.

This E.U partnership is starting to sound like a bad relationship: 'if you leave i'l take this away from you or punish you!'

[Tennis]

Someone should tell New Zealand that. Currently we are in Trade negotiations with them.

This E.U partnership is starting to sound like a bad relationship: 'if you leave i'l take this away from you or punish you!'

One country of 4 million people. You do realize that impresses no one.

[Deleted]

OK crazy tax evader.

[Deleted]

Must be some sort of karma from empire. A country choosing to diminish its influence in the world. Brilliant stuff.

[Deleted]

My understanding is that the UK government is under no legal obligation to follow the will of the electorate in this referendum.

Correct. That's why brexit isn't certain to happen, currently there are a lot of huge lawsuits against the British government, and they'd have to wait until all of those conclude, before they can push brexit in a legal manner, since all it takes is one judge to halt it. That's why May's date is being pushed back all the time.