The Brexit disaster

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Re: The Brexit disaster

Post by Per »

Not really about Brexit, but it is briefly mentioned and I did not know where else to put this. Enjoy!

https://youtu.be/QS7kUqKeg_0

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Re: The Brexit disaster

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Side effects of Brexit; trying to sort out who’s British enough.
Having lived here all your life? Nah. Try again.


https://youtu.be/rJCcJnYfjyI
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Re: The Brexit disaster

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Scotland is planning a new referendum on independence for October 2023. First Minister Nicola Sturgeon has asked the supreme court to weigh in on whether it can be done without London’s approval.

https://www.bbc.com/news/uk-scotland-sc ... s-61968607
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Re: The Brexit disaster

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Per wrote: Tue Jun 28, 2022 1:35 pm Scotland is planning a new referendum on independence for October 2023. First Minister Nicola Sturgeon has asked the supreme court to weigh in on whether it can be done without London’s approval.

https://www.bbc.com/news/uk-scotland-sc ... s-61968607
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Re: The Brexit disaster

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Doc: "BTW, Donny was right, you're smug."
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Re: The Brexit disaster

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Not sure whether this should be in Old World Politics or the Brexit thread, but, yeah, whatever.

The new British government is causing many a raised eye brow among economists.

In the midst of a crisis with rising inflation and labour shortages, they are announcing the largest tax cuts in Britain since 1972, mainly aimed at the rich in a true trickle down theory fashion, and not financed by budget cuts, which means the government will have to increase its debt substantially.

Now, this is only throwing more wood on the inflation fire, as the increased amount of freed up money will help push prices of both goods and labour upward. As a result the pound fell sharply against both the euro and the dollar, which kind of makes me wish they had done this two weeks earlier, before I visited London, as that could have saved me a lot of money, but I digress.

To defend the value of the pound, their central bank will be forced to raise interest rates, and for the government to be able to borrow more money, they also have to raise the interest rate on government bonds, so there is now double pressure in that direction. With interest rates going up, a lot of people will have a hard time paying the mortgage on their homes, while simultanously facing rising costs for food, gas and electricity. And the weakening of the pound means all imported goods become more expensive as well, which is commonly referred to as imported inflation, worsening the situation even more.

The tax cuts being severely skewed toward the rich means people in the lower rungs of society won’t benefit, and will only experience the side effects, ie higher prices and higher interest rates. Someone earning UKL 20,000 will only get a UKL 157 tax cut, whereas someone earning UKL 200,000 will get more than UKL 5000 and someone making UKL 2,000,000 more than 50,000.

Things could get very dire this winter when people have to choose between paying their rent, their food or their gas bill.

And with the under-financed budget the government will not be able to lend a helping hand without going even further into debt, once more throwing more wood on the inflation fire. Britain is in for a very bumpy ride.
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Re: The Brexit disaster

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The Financial Times taking a look at what Brexit has meant for the British economy.

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Re: The Brexit disaster

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Bye Liz

How are the British banana crops doing?
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Re: The Brexit disaster

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https://www.youtube.com/watch?v=B1hVXSNeMXQ



Are ALL socialist leaders moneygrubbing crooks?

Good on the UK for getting out while the getting was good...
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Re: The Brexit disaster

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https://www.youtube.com/watch?v=7WjbeZVfrLA



Whoa, talk about selling one's soul...
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Re: The Brexit disaster

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Meanwhile, as the economic fallout of Brexit is starting to affect the common people, the UK is beginning to fall apart at the seams.

Right now the nurses, paramedics, postal workers, railway employees and many more are on strike. :o

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Re: The Brexit disaster

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I think this map shows you how isolated Britain has become.

Most EU maps only show the member states (dark blue here) but this also shows the official candidates (light blue, two shades here as Bosnia is listed as ”potential candidate”, but both Bosnia and Kosovo have now officially applied) and the EFTA countries (green, Norway, Iceland, Switzerland and Lichtenstein).

The EFTA countries are part of the single market and the Schengen area but not the customs union. It means that goods, services, people and capital can flow freely between the EFTA and EU countries, without the need for work or residential permits or customs declarations and other red tape, but the EFTA countries have separate trade deals with third countries. The backside is that they are to a large extent bound by EU law without having representation in the political and legislative process.

Thus a Norwegian can apply for a job in Italy or buy an apartment in Spain as easily as the locals and a Swiss company can export its products to eg Latvia without any need for customs declarations or inspection at the border. But the British will have to jump through hurdles and fill out all sorts of applications and other red tape, and have their goods and paperwork inspected at the border. And they have to negotiate new trade deals with every single EFTA country.

The EU and EFTA together form the EEA (European Economic Area).
The closest non-EEA countries to Britain are Russia, Belarus, Morocco and Tunisia.

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Re: The Brexit disaster

Post by Strangelove »

Per wrote: Thu Dec 29, 2022 4:29 pm I think this map shows you how isolated free Britain has become.
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Re: The Brexit disaster

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Strangelove wrote: Thu Dec 29, 2022 4:46 pm
Per wrote: Thu Dec 29, 2022 4:29 pm I think this map shows you how isolated free Britain has become.
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Re: The Brexit disaster

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