If we vote for Brexit what happens

HAMISH_MCTAVISH

tracey3596 wrote: »

Did you not read my link then?

Oh I read it.

But the fact remains consumer debt has risen by an alarming 10% in the last year while the savings rate has fallen to 50 year lows - and prices are now rising faster than wages.

A wholly unsustainable debt fuelled bender does not a successful economy make.

There's real economic pain coming for many.

As your article points out....

growth is expected to weaken this year as consumers - the mainstay of last year's expansion - come under pressure from higher inflation after sterling's post-referendum tumble.

And also interestingly, from that same Reuters article you linked to....

worries were growing about rising prices - especially among people who had voted to leave the EU. "Although immigration concerns have dropped, Leavers are starting to worry more about everyday matters, particularly rising utility bills and food prices," said Steve Smith, Nielsen's managing director for the United Kingdom and Ireland.

Many voters who backed Leave come from poorer households which are likely to face the biggest pinch from rising prices for food and fuel.

http://uk.reuters.com/article/uk-britain-economy-idUKKBN17E2XM

TrickyTree83

HAMISH_MCTAVISH wrote: »

Yes - Trivial.

Services are 78% of UK GDP.

Manufacturing is 10% of UK GDP.

Manufacturing exports are around 4.5% of UK GDP.

Hardly trivial. As I said before.

Show me how many jobs that translates into and you tell me then if you still think it's trivial.

trivial

adjective
1.
of little value or importance.

wotsthat

Thought this was interesting..

http://www.bbc.co.uk/news/uk-politics-39576112

EU migrants make up more than one in 10 manufacturing sector workers in the UK, official figures have shown.

The Office for National Statistics (ONS) also said EU workers from outside the UK tended to work longer hours than the workforce average.

And it said non-UK workers were more likely to be overqualified for the jobs they were doing.

The government is planning to change the way migration is managed after Britain leaves the EU.

It's going to be a tough balancing act to satisfy the Tory right whilst not damaging the economy especially when you see stats like this.

About 61% of workers from Bulgaria and Romania worked more than 40 hours a week, compared with about 32% of British workers

Only 32% of British workers work more than 40 hours a week?

A_Medium_Size_Jock

HAMISH_MCTAVISH wrote: »

Yes - Trivial.

Services are 78% of UK GDP.

Manufacturing is 10% of UK GDP.

Manufacturing exports are around 4.5% of UK GDP.

Services exports and turnover are increasing too though.
As has been said earlier.
The British Chambers Of Commerce confirm this, saying today:

Based on the responses of over 7,300 businesses in Q1 2017, the results show the manufacturing and services sector are reporting solid growth, with both experiencing increases in domestic and export sales since the previous quarter.

A_Medium_Size_Jock

wotsthat wrote: »

Thought this was interesting..

I wonder what it is thought that 3.4 million workers - that is, 11% of the UK workforce, actually do?
Does anyone really think that they come here just for our glorious weather?

the ONS said that last year an estimated 3.4 million workers, amounting to 11% of the entire UK labour market, were foreign nationals.

From the BBC link.

Re: "Only 32% of British workers work more than 40 hours a week?" is that not just a great example of manipulating the figures to say what you want them to say in comparison to foreign workers who - after all - come here purely to earn as much as possible?
What would those figures be affected if you call "full time" 35 hours or more per week?

Although admittedly British workers have not on average worked full-time hours in many years; see:
http://www.cityam.com/233727/british-workers-enjoy-shorter-weeks-as-economy-improves-office-of-national-statistics-figures-reveal-

wotsthat

Solid growth and a desire to reduce migrant workers. It'll be interesting to see how that circle is squared.

davomcdave

Thrugelmir wrote: »

The UK is a sizable net contributor to the bureaucracy of the EU. In times of severe austerity. Perhaps some people believe that money should be spent elsewhere. Rather than see it wasted on pointless projects and mis-spent. Roads being a prime example.

Spend money on roads not Rhodes.:D

Catchy!

mayonnaise

HAMISH_MCTAVISH wrote: »

worries were growing about rising prices - especially among people who had voted to leave the EU. "Although immigration concerns have dropped, Leavers are starting to worry more about everyday matters, particularly rising utility bills and food prices," said Steve Smith, Nielsen's managing director for the United Kingdom and Ireland.

Many voters who backed Leave come from poorer households which are likely to face the biggest pinch from rising prices for food and fuel.

They were warned and chose not to listen.
They dismissed any pre-referendum forecast regarding dropping living standards as 'project fear'.
They made their bed, now they can lie in it.

wotsthat

A_Medium_Size_Jock wrote: »

I wonder what it is thought that 3.4 million workers - that is, 11% of the UK workforce, actually do?
Does anyone really think that they come here just for our glorious weather?

Isn't the point that the UK is already highly reliant on migrant workers when some think Brexit is going to lead to growth in the economy? i.e. more staff will be needed when the government is going to be under pressure to reduce immigration.

We could suggest that the government are best placed to decide which workers to give work permits to but some, you included, have consistently highlighted how growth in the UK is higher than that in Europe. That's based on nothing more complicated than free movement with employers free to choose who they employ

A_Medium_Size_Jock wrote: »

Re: "Only 32% of British workers work more than 40 hours a week?" is that not just a great example of manipulating the figures to say what you want them to say in comparison to foreign workers who - after all - come here purely to earn as much as possible?
What would those figures be affected if you call "full time" 35 hours or more per week?

Although admittedly British workers have not on average worked full-time hours in many years; see:
http://www.cityam.com/233727/british-workers-enjoy-shorter-weeks-as-economy-improves-office-of-national-statistics-figures-reveal-

Aren't we lucky being able to take it easy and let foreign workers pick up the slack.

cogito

The small rise in inflation in mainly the result of sterling devaluation which was coming anyway. Where do people think the exchange rate would be if Remain had won?