If we vote for Brexit what happens

MobileSaver

Conrad wrote: »

Another wrong prediction, we will prosper like billyo

The government doesn't seem to think so...

Office for Budget Responsibility

The OBR ... assumed new trading arrangements would slow import and export growth for a decade

increased borrowing would result from weak tax receipts and lower than expected growth predictions as a result of June's vote to leave the European Union.

the referendum result would account for an extra £58bn of borrowing... £16bn increase as a result of lower migration and £18.1bn because of lower productivity growth

Way to go Brexiteers, talking about shooting yourselves in the foot but all will be fine as long as we get rid of all the immigrants, eh? :T

Moby

setmefree2 wrote: »

Really? So you were depressed under Blair and Brown because they were racking up so much debt ? Did it keep you awake at night? Did you fear for the UK's future?

No.... I was positive because this country was a much better place then. I was getting an actual pay rise and I bought a nice house in London!....and we were on the same page as our European partners. This country is now turning into a nasty little reactionary backwater:mad:

TrickyTree83

Moby wrote: »

No.... I was positive because this country was a much better place then. I was getting an actual pay rise and I bought a nice house in London!....and we were on the same page as our European partners. This country is now turning into a nasty little reactionary backwater:mad:

If it's reactionary, it's a reaction against the arrogance of the left wing politicians in this country, and the same is playing out across the western world.

michaels

So the Brexit vote has resulted in a massive incraese in govt borrowing in 16/17FY...when growth is actaully going to be stronger than previously forecast? ('Kitchen sinking' is getting all the bad news out in one go especially when there is apprantly soemthing good to lay the blame on - basically we would be borrowing much more this year and in each of the next 5 years than had previously be forecast even if the Brexit vote had gone the other way)

And in future we will have lower growth because we will have less immigration...so the growth in GDP per head is barely affected. Unless you worship the god of GDP over and above GDP per head (and I know which one mattters to me) then how is this a bad thing?

Herzlos

Thrugelmir wrote: »

Happens all the time. Building factories etc is a long term investment. Knowing that the Government of the day is on the same page is extremely important.

They've never needed assurances of this level before though. About tax rates etc, yeah that's to be expected. That trade to a continent will be unaffected? That's new.

Herzlos

TrickyTree83 wrote: »

If it's reactionary, it's a reaction against the arrogance of the left wing politicians in this country, and the same is playing out across the western world.

Agreed; the left has an awful lot to answer to for all of this mess.

Whatever it was a reaction to, it's still not going to be a good thing.

michaels

Moby wrote: »

No.... I was positive because this country was a much better place then. I was getting an actual pay rise and I bought a nice house in London!....and we were on the same page as our European partners. This country is now turning into a nasty little reactionary backwater:mad:

It is more like an advance rather than a pay rise if the govt is racking up debt to pay for it, hard though it may be t understand but govt borrowing is simply current taxation deferred to the future. So is your plan to pay back your share when you are older or are you expecting your kids to pay it back for you?

Herzlos

michaels wrote: »

Unless you worship the god of GDP over and above GDP per head (and I know which one mattters to me) then how is this a bad thing?

Our debt level and baseline costs aren't on a per-head basis. We don't get a discount on government debt if the population drops; the per-head figure just goes up.

CLAPTON

Moby wrote: »

No.... I was positive because this country was a much better place then. I was getting an actual pay rise and I bought a nice house in London!....and we were on the same page as our European partners. This country is now turning into a nasty little reactionary backwater:mad:

indeed, they were happy days when boom and buster had been banished for ever, that we simply borrowed to increase wages and benefits and services and we were all secure in our nice little cocoon of white, christian europe.
Of course we ignored the problems of debt, ignored the problmems in southern europe, ignored the problems we were inflicting on undeveloped countries by our trade poilcies and ignored the issues and problem of some of our cities in the mantra of political correctness.

what ever went wrong?

michaels

mayonnaise wrote: »

The claim that leave voters tend to be lower educated is not an insult, but a fact.

https://yougov.co.uk/news/2016/06/27/how-britain-voted/

Presumably you have adjusted for other factors. Some might note that older (more life experienced) people generally voted to leave and that they also tend to have lower levels of education (not stupider just grew up when educational opportunities were very different) and that this might explain the differences in proportions.....