If we vote for Brexit what happens

A_Medium_Size_Jock

Ballard wrote: »

I took my mortgage out in 1990 when the base rate was about 14.5%. This was under a Tory government.

Inflation was still high then, around 10% although it had been coming down since the highs caused by Labour's "Winter Of Discontent" in 1978/9. The result was high interest rates with the peak of over 18% for mortgages coming in 1981.

That's why I am so surprised that so many still seem to think that increasing state spending is fine and has no consequences - as in Labour's current manifesto.
It has been proven not to work.

always_sunny

A_Medium_Size_Jock wrote: »

That's why I am so surprised that so many still seem to think that increasing state spending is fine and has no consequences - as in Labour's current manifesto.
It has been proven not to work.

But will others accept cuts? That's also a big problem.
I agree that state spending should be curbed, achieving such task may prove to be not so easy.

cogito

always_sunny wrote: »

Highly likely it's not such a big problem.

It's a huge problem for the EU as it leaves a big hole in their budget. The net contributors don't want to pay in any more and the net recipients won't accept anything less than they've been promised.

Pity they didn't consider that before sending Cameron away empty handed.

Conrad

Ballard wrote: »

I took my mortgage out in 1990 when the base rate was about 14.5%. This was under a Tory government.

And due to pressure from the Europhiles to join the ERM 'or else'.

Herzlos

A_Medium_Size_Jock wrote: »

Inflation was still high then, around 10% although it had been coming down since the highs caused by Labour's "Winter Of Discontent" in 1978/9. The result was high interest rates with the peak of over 18% for mortgages coming in 1981.

That's why I am so surprised that so many still seem to think that increasing state spending is fine and has no consequences - as in Labour's current manifesto.
It has been proven not to work.

Has the Tories approach to austerity been proven to work yet, either?

Are people going to complain more about having higher taxes, or having to deal with a privatized NHS/Police service?

Conrad

mayonnaise wrote: »

Project Fear! :rotfl:

A wanton welfare culture leads to dumbing down (hence Scotland's low growth) and higher taxes will lead to UK HQs going to Dublin (just as Obama found out).


Higher taxes, lower business investment, everyone trying to get a piece of the Corbyn Govt funds pot therefore not innovating and creating new wealth

Conrad

Herzlos wrote: »

Are people going to complain more about having higher taxes, or having to deal with a privatized NHS/Police service?

They complain about a modicum of inflation, so yes they will certainly complain when their taxes (and mortgages) go up.


Why are so many interested in money saving if they are happy to pay more for a better society, why don't they pay more for UK made textiles instead of masses of cheap Chinese slave wage imports?

always_sunny

cogito wrote: »

It's a huge problem for the EU as it leaves a big hole in their budget. The net contributors don't want to pay in any more and the net recipients won't accept anything less than they've been promised.

Pity they didn't consider that before sending Cameron away empty handed.

now everyone is an EU expert. Is it?

The net contributors don't want to pay (speculation cause we don't know what will happen) similar to the UK wanting to keep free trade without contribution and FoM (speculation cause we don't know what will happen).

I have to admit, so far I haven't seen much of the EU running and begging the UK to stay, maybe it'll come but for now it seems a very calculated risk.

A_Medium_Size_Jock

Herzlos wrote: »

Has the Tories approach to austerity been proven to work yet, either?

Are people going to complain more about having higher taxes, or having to deal with a privatized NHS/Police service?

Proven?
Well since the annual amount borrowed as a share of GDP has reduced from 9.9% in 2010 after Labour being in control to 2.6% in 2016, it is a pretty big clue as to whether or not it will be proven.

People are fickle, we know this.
They say one thing and often do another.
Which way they choose this time will be seen in around a week.

cogito

always_sunny wrote: »

now everyone is an EU expert. Is it?

The net contributors don't want to pay (speculation cause we don't know what will happen) similar to the UK wanting to keep free trade without contribution and FoM (speculation cause we don't know what will happen).

I have to admit, so far I haven't seen much of the EU running and begging the UK to stay, maybe it'll come but for now it seems a very calculated risk.

What you have seen instead is the EU coming to us demanding a huge exit fee instead. It's the only way they can get the money, if we let them.

And it's not speculation. Here's an idiots' guide produced by the Jacques Delors Institute which takes you through the different scenarios.

http://www.delorsinstitut.de/en/publications/brexit-and-the-eu-budget-threat-or-opportunity/