You see, here is another porky pie. The first world economy has not been destroyed by BREXIT.
Make an appointment with you GP.
Brexit, for once some facts.
- Thread starter flecc
- Start date
Make an appointment with you GP.
you may find that you need to say that to yourself more and more as your circumstances deteriorate. probably in a rising tone until it becomes unintelligible. whatever happens, don't try to think.
look on the bright side. here's another nigel doll to play with
https://twitter.com/willblackwriter/status/468687490782859264
and hey, what the hell, it was only money
No one would be taken in by the spin you attempted there, there was a deliberate fear of immigrants racist element being addressed. as part of the Brexit appeal to the simpler minded, which is what the paper was hoping to excite and excuse, as if the actions of the Mp, and her assumed preference for immigrants over locals , and refusal to help this despicable moron had provoked.
Come off it tillson stop digging, the water is coming into your self dug hole on this.
Why are you taking that attitude?
The Daily Mail has a history of being little more than a pro Nazi rag since the 1930's,
What is baffling is what they imagine they are going to achieve through us leaving the EU.
You might do better to consider that question.
What is their Agenda?
"
Every household will lose £1,250 a year because of Brexit, says Institute for Fiscal Studies
The respected think tank also warns that working families will be hit hardest by a referendum-induced slump in earnings - with pensioners protected
They voted for that?
Really? and what leads you to think that they knew what Brexit would mean, when even the Government after months to consider what Brexit means still have no idea, or rather have expressed an "Expert" opinion that you have disimissed as wrong?
Sorry tillson.
You voted without knowing any more about the likely result of Brexit any more that I did,
The Difference is you chose to ignore the all too obvious risks, in the naive hope it would all work out somehow, and now even when the signs are even more obvious that the risk outweighs any possible gain, you simply have refused to accept the notion that you might have been wrong.
Let us assume that in fact I was wrong for a moment, what harm would have resulted?
The status Quo with it's known risks and safeguards would apply.
And what can you offer?
OK, let's hear exactly what you think will be advantageous to the public at large, rather than the odd Billionaire?
Last edited:
IFS Pro Remain.
IFS Partly funded by the EU.
IFS I don't believe them.
IFS Has no more legitimacy than any other commentator.
Three takeaways as OBR puts a cost on Brexit
[/paste:font]2 hours ago
Print this page
November 23, 2016
by: Mehreen Khan
Britain’s independent fiscal watchdog has tried to forecast the costs of the UK’s exit from the EU, predicting slower trade growth for the next decade, restricted migration, and additional borrowing worth nearly £60bn over five years.
By signing up you confirm that you have read and agree to the terms and conditions, cookie policy and privacy policy.
Releasing its latest forecasts in the wake of the UK’s Autumn Statement, the Office for Budget Responsibility has aimed to calculate Britain’s economic trajectory for the first time since the referendum.
It complained however that the government was not particularly forthcoming in providing it with details, leaving its economists “little the wiser as regards the choices and trade-offs that the government might make during the negotiations”.
Despite the limitations, the OBR has sought to forecast based on Britain leaving the EU in April 2019 – two years after the planned invocation of Article 50.
Here are three of the best takeaways:
1. A 2.4 percentage point hit to growth
Potential growth in the UK economy will suffer a 2.4 percentage point hit over the next five years as a result of the decision to leave the EU.
This reduction has been driven by businesses being less likely to invest as the UK’s position in the EU remains unclear, while migration is expected to come under stricter rules, and Britain overall will be a “less open economy”, say the OBR.
However, the watchdog adds a caveat:
There are, of course, huge uncertainties associated with any estimates of the effect of leaving the EU, since it is not something that has happened before. The sources of uncertainty include what will ultimately replace EU rules in terms of trade, investment and migration, as well as any knock-on effects to regulatory or other policies.
The latter are less relevant to our analysis, as we are required to forecast on the basis of current policy rather than to predict how governments might choose to exploit the opportunity to change policies in the future
2. A £60bn deterioration in the public finances
The chart above shows the Brexit vote is the biggest single driver behind the worsening outlook for the public finances. The referendum vote will add £58.7bn in additional borrowing over the next five years, with the OBR expecting overall borrowing to be hiked by £122bn over the forecast period.
Government debt is forecast to peak at 90.2 per cent of GDP in 2017-2018.
3. Rising EU budget contributions from weak sterling
The decline in the pound could prove doubly painful for the UK economy, raising inflation and also boosting Britain’s expected budget contributions to Brussels.
According to the OBR’s forecasts, the fall in sterling means Britain will be paying an additional £800m in EU transfers in 2018-19 and 2019-20, and an additional £900m in 2020-2021. Despite voting to leave, it is likely that the UK will still have to meet its commitments to the EU budget long after it has left the bloc.
A falling exchange rate is also set to push up inflation which will peak in the middle of 2018, according to the forecast.
Copyright The Financial Times Limited 2016.
that's the office of budget responsibilities assessment of the impact of brexit (with the usual caveat that it may not be as valid as what one of nige's racist buddies worked out on the back of a fag packet)Three takeaways as OBR puts a cost on Brexit
[/paste:font]2 hours ago
Print this page
November 23, 2016
by: Mehreen Khan
Britain’s independent fiscal watchdog has tried to forecast the costs of the UK’s exit from the EU, predicting slower trade growth for the next decade, restricted migration, and additional borrowing worth nearly £60bn over five years.
By signing up you confirm that you have read and agree to the terms and conditions, cookie policy and privacy policy.
Releasing its latest forecasts in the wake of the UK’s Autumn Statement, the Office for Budget Responsibility has aimed to calculate Britain’s economic trajectory for the first time since the referendum.
It complained however that the government was not particularly forthcoming in providing it with details, leaving its economists “little the wiser as regards the choices and trade-offs that the government might make during the negotiations”.
Despite the limitations, the OBR has sought to forecast based on Britain leaving the EU in April 2019 – two years after the planned invocation of Article 50.
Here are three of the best takeaways:
1. A 2.4 percentage point hit to growth
Potential growth in the UK economy will suffer a 2.4 percentage point hit over the next five years as a result of the decision to leave the EU.
This reduction has been driven by businesses being less likely to invest as the UK’s position in the EU remains unclear, while migration is expected to come under stricter rules, and Britain overall will be a “less open economy”, say the OBR.
However, the watchdog adds a caveat:
There are, of course, huge uncertainties associated with any estimates of the effect of leaving the EU, since it is not something that has happened before. The sources of uncertainty include what will ultimately replace EU rules in terms of trade, investment and migration, as well as any knock-on effects to regulatory or other policies.
The latter are less relevant to our analysis, as we are required to forecast on the basis of current policy rather than to predict how governments might choose to exploit the opportunity to change policies in the future
2. A £60bn deterioration in the public finances
The chart above shows the Brexit vote is the biggest single driver behind the worsening outlook for the public finances. The referendum vote will add £58.7bn in additional borrowing over the next five years, with the OBR expecting overall borrowing to be hiked by £122bn over the forecast period.
Government debt is forecast to peak at 90.2 per cent of GDP in 2017-2018.
3. Rising EU budget contributions from weak sterling
The decline in the pound could prove doubly painful for the UK economy, raising inflation and also boosting Britain’s expected budget contributions to Brussels.
According to the OBR’s forecasts, the fall in sterling means Britain will be paying an additional £800m in EU transfers in 2018-19 and 2019-20, and an additional £900m in 2020-2021. Despite voting to leave, it is likely that the UK will still have to meet its commitments to the EU budget long after it has left the bloc.
A falling exchange rate is also set to push up inflation which will peak in the middle of 2018, according to the forecast.
Copyright The Financial Times Limited 2016.
You got that absolutely right 'derf'. The Brexidiots have reduced the value of the British currency enormously and even after a tory chancellor has spelled out to them exactly what the future holds, they still cannot grasp the enormity of their stupidity.
That is clear to anyone reading the kind of supercilious drivel posted on here by the pompous 'tillson'.
As all economic arguments for 'brexit' have been destroyed; all claims about faceless people in Brussels interfering in British laws rendered false; all suggestions about loss of sovereignty easily dismissed as blatant, xenophobic lies, what else can there be to recommend exiting the EU? Oh yes, I almost forgot - it's all these foreign people coming here, stealing from our welfare system, taking jobs away from British workers......and pretending to be refugees when they are really economic migrants. I wonder where people got that idea!
An announcement from the government that there will be no 'Brexit' and it will be business as usual from next week or next month would see the pound rebound to pre-referendum exchange rates probably quicker than it plummeted after that ballot result.
In terms of lies and liars, one only has to look back at the big red bus and the NHS lie - and that's just for starters!
Tom
The word Jams was invented by your current right wing champion ,namely Theresa May,it's her current catchword now that Brexit means Brexit and Party for Everyone have become a bit stale.
I am hardly preaching to the poor and anyway Jams are not necessarily poor they are just trapped in a tax system that hurts the middle ground.
What is a surprise is that the cost of Brexit ,both economic and political,is appearing worse by the day,I just wonder how bad has it to get before the majority see it as a bad idea.
I thought QT was good this week,not the usual over talking and shouting that wastes time and nobody learns anything. There was the Brexidiot at the back who shouted out 'we won you lost get on with it',bit out of touch now.
There was a young guy who voted remain but pointed out that if Remain had won by 52-48 would we be pushing to be closer EU integration and telling the Leavers to shut up because they lost,the 48% are still allowed to have a voice.
The Remain camp is starting to get a stronger voice,it appears that May has now to win in the Scottish court after she has finished losing in the Supreme Court.
To call me a leftie is amusing.
KudosDave
Three takeaways as OBR puts a cost on Brexit
[/paste:font]2 hours ago
Print this page
November 23, 2016
by: Mehreen Khan
Britain’s independent fiscal watchdog has tried to forecast the costs of the UK’s exit from the EU, predicting slower trade growth for the next decade, restricted migration, and additional borrowing worth nearly £60bn over five years.
By signing up you confirm that you have read and agree to the terms and conditions, cookie policy and privacy policy.
Releasing its latest forecasts in the wake of the UK’s Autumn Statement, the Office for Budget Responsibility has aimed to calculate Britain’s economic trajectory for the first time since the referendum.
It complained however that the government was not particularly forthcoming in providing it with details, leaving its economists “little the wiser as regards the choices and trade-offs that the government might make during the negotiations”.
Despite the limitations, the OBR has sought to forecast based on Britain leaving the EU in April 2019 – two years after the planned invocation of Article 50.
Here are three of the best takeaways:
1. A 2.4 percentage point hit to growth
Potential growth in the UK economy will suffer a 2.4 percentage point hit over the next five years as a result of the decision to leave the EU.
This reduction has been driven by businesses being less likely to invest as the UK’s position in the EU remains unclear, while migration is expected to come under stricter rules, and Britain overall will be a “less open economy”, say the OBR.
However, the watchdog adds a caveat:
There are, of course, huge uncertainties associated with any estimates of the effect of leaving the EU, since it is not something that has happened before. The sources of uncertainty include what will ultimately replace EU rules in terms of trade, investment and migration, as well as any knock-on effects to regulatory or other policies.
The latter are less relevant to our analysis, as we are required to forecast on the basis of current policy rather than to predict how governments might choose to exploit the opportunity to change policies in the future
2. A £60bn deterioration in the public finances
The chart above shows the Brexit vote is the biggest single driver behind the worsening outlook for the public finances. The referendum vote will add £58.7bn in additional borrowing over the next five years, with the OBR expecting overall borrowing to be hiked by £122bn over the forecast period.
Government debt is forecast to peak at 90.2 per cent of GDP in 2017-2018.
3. Rising EU budget contributions from weak sterling
The decline in the pound could prove doubly painful for the UK economy, raising inflation and also boosting Britain’s expected budget contributions to Brussels.
According to the OBR’s forecasts, the fall in sterling means Britain will be paying an additional £800m in EU transfers in 2018-19 and 2019-20, and an additional £900m in 2020-2021. Despite voting to leave, it is likely that the UK will still have to meet its commitments to the EU budget long after it has left the bloc.
A falling exchange rate is also set to push up inflation which will peak in the middle of 2018, according to the forecast.
Copyright The Financial Times Limited 2016.
All forecasts, virtually every forecast since 2009 has been wrong.
All that you say is forecast and prediction. These bodies have proven themselves to be comprehensively wrong every time.
Let's focus on today, and contrary to what these people forecast pre BREXIT today doesn't look too bad.
screaming "no" and putting your hands over your ears does not constitute an argument.
forecasts are always wrong (it's why it's called forecasts). what have you got (other than the side of a bus and prejudice)?
There just hasn't been the evidence to forecast with confidence since the 2008 recession, and the Brexit uncertainty now makes the position even more impossible.
It follows that none of them are forecasts, they are beliefs, in some cases based in part on very limited comparable experience.
.
Certainly not if you view it from the perspective of the remainder of the EU, however from the UK point of view it appears to be as attractive as the prospect of
Being Rogered with a Rag-man's Rusty Trumpet,
Or worse a wet kiss from Nigel Farage
Poor Diane! no woman should endure such embarassment in a cause as putrid as UKIP.
Are we then to assume anyone making promises or assumptions on behalf of Brexit have actually even bothered to find out any facts to make assumptions on?
Admit it, it has been more of a case of opening a porthole on a ship in a storm without knowing if you have a cabin under the level of the biggest wave.
Lets try to analyse tillson's claim
"
The JAMs (I hate that over used term) know what they voted for, so who are you to tell them that they are so stupid that their voting choice shouldn't be fulfilled?
And the result of this Extensive and deep insight?
The decline in the pound could prove doubly painful for the UK economy, raising inflation and also boosting Britain’s expected budget contributions to Brussels.
According to the OBR’s forecasts, the fall in sterling means Britain will be paying an additional £800m in EU transfers in 2018-19 and 2019-20, and an additional £900m in 2020-2021. Despite voting to leave, it is likely that the UK will still have to meet its commitments to the EU budget long after it has left the bloc.
Hands up if you believe that the people who voted for Brexit anticipated that rather than have huge sums to spend on the NHS, they would instead be paying those Huge Sums( keeping it simple so it isn't hard to understand) to the EU instead.
Alternatively, how many of you believe that they had not even the faintest idea of the consequences of their action?
This is nothing short of Slapstick Comedy
"
The JAMs (I hate that over used term) know what they voted for, so who are you to tell them that they are so stupid that their voting choice shouldn't be fulfilled?
And the result of this Extensive and deep insight?
The decline in the pound could prove doubly painful for the UK economy, raising inflation and also boosting Britain’s expected budget contributions to Brussels.
According to the OBR’s forecasts, the fall in sterling means Britain will be paying an additional £800m in EU transfers in 2018-19 and 2019-20, and an additional £900m in 2020-2021. Despite voting to leave, it is likely that the UK will still have to meet its commitments to the EU budget long after it has left the bloc.
Hands up if you believe that the people who voted for Brexit anticipated that rather than have huge sums to spend on the NHS, they would instead be paying those Huge Sums( keeping it simple so it isn't hard to understand) to the EU instead.
Alternatively, how many of you believe that they had not even the faintest idea of the consequences of their action?
This is nothing short of Slapstick Comedy
Tillson....I absolutely agree that the scaremongering put out by Osborne and Cameron before the vote was pathetic. They and all the other forecasters failed to appreciate that the fall in the pound would reveal a short term gain......that 20% pound/dollar fall made the UK very busy with the EU,the EU customers knew it wouldn't last so decided to 'fill their boots' whilst the buying spree strong Euro to weak £ lasted.
This really shows how important EU trade is to the UK.
The spree will last until £/dollar hedging lasts and/or current stocks need replenishing.
The last couple of weeks has started some big price rises,sometimes from suppliers that I thought were UK manufactured but actually were Asian supplied,surprising what comes out at times of stress.
The bulk of the price rises will come out early 2017, they are more than I expected ,15-20% will be the norm. Which is why I am surprised that,at this moment,Hammond produced a doom and gloom budget and made no attempt to reverse the upcoming benefit cuts and tax credit cuts,it is a double whammy on people who cannot take it....note this is not forecasting this is current events,nothing to do with the OBR or IFS.
So why has Hammond done it? My only conclusion is that he is still a devoted Remainer but wants the people to force a U-turn rather than him and May making that decision. It is political suicide if he intends to proceed with Brexit,there will be a lot of people very hard up next year.
KudosDave
Just noticed that Nigel Farage has cancelled his upcoming London march,he blames that it was likely to be hijacked by far right groups.
But aren't the BNP and EDL part of UKIP?
More likely he saw that the recent budget day pro Brexit march attracted only 100 out of an expected 15000, Farage stated that he anticipated 100,000 to turn up,embarrassing if only a few dozen arrived.
Anyway,he is intending to have an American coast to coast speeching tour,should earn him lots of bucks,whilst he is a mate of Trump.
KudosDave
But aren't the BNP and EDL part of UKIP?
More likely he saw that the recent budget day pro Brexit march attracted only 100 out of an expected 15000, Farage stated that he anticipated 100,000 to turn up,embarrassing if only a few dozen arrived.
Anyway,he is intending to have an American coast to coast speeching tour,should earn him lots of bucks,whilst he is a mate of Trump.
KudosDave