MoneySaving Poll: How does the Brexit result make you feel financially?

lgs6753

As a passionate believer in Independence, I am very concerned that so many people are "petrified". I have spoken to so many people who voted Remain because they were frightened by Government scare-mongering, but whose hearts supported Leave.

There may be a short-term hiatus in the markets (that's how traders make money) but things will settle down very quickly.

Prior to the Referendum, the £ had dropped about 10% against the dollar, with little discernible effect. A further fall may have a marginal effect on fuel prices, but that's all. The £ is still stronger against the euro than it was two years ago.

So far, South Korea, Canada, Australia and the USA have expressed a desire to conclude trade deals with the UK despite having urged us to stay in. There is very good reason to expect that the 51 other EU trade deals will continue bilaterally after we finally leave the EU.

At the time we leave, non-EU food imports will reduce in price by around 10% as we emerge from the common external tariff. And over time, fish will become much cheaper as we re-establish a UK fishing industry.

It's noticeable that all the scare-mongers are now recanting on their scares, admitting that companies will not relocate en masse, prices will not rocket, our ability to travel will be unaffected, etc. Unfortunately, the EU's broadcasting arm, the BBC are not reporting much, if any, of this reassuring news.

The people have spoken - let's all pull together to make our country great again.

jkingem

The people have spoken - let's all pull together to make our country great again.

The goods news? People are gaining power over those they vote to represent them, when the elected fail to represent them as promised during campaigns. It is “people-power” time. And the power of the people will start to forcibly demand more accountability and responsibility of their leaders – or, like David Cameron, they will be forced to leave. Give us the Truth, or get out of the way. :T:T:T

pennywise63

Adolf_Farage wrote: »

Some of the responses from people who voted out displays a terrifying lack of understanding about basic economic principles and markets.

E.g. Won't this be wonderful for the exporters!! - we will soon be selling wine to the French and cars to the Germans because we'll be able to produce things so much cheaper with the weak pound. Just think about this a minute and you will realise how ridiculous this argument is.

Will we be able to compete on price with China/ India when it comes to manufactured goods? Not unless you want some serious cuts to the minimum wage! And how many people drink Indian wine or drive Chinese cars? Mature/established global manufacturing brands will not spring up in Britain overnight.

Or the classic - oh look at the markets, it's just a blip. Everything will be rosy soon. Really???
Markets do over-react sometimes of course, but they are a lot like the bookies, they aren't going to back a loser. The reason you get great odds on Wales winning the European cup is because few bookmakers think they will - Wales could win it of course, and equally our economy could turn out fine. However, lots of very educated, intelligent people across the globe who have spent their lives studying these things and think it's very unlikely are putting their money where their mouth is. What does that tell you??

I don't want to be a scaremonger, there was enough of that during the campaigns, but I wish people would stop burying their heads in the sand. Things will be very hard for the next few years, not least because of the uncertainty, and everyone will suffer. I genuinely hope the future turns out as the land of rainbows and happy smiling unicorns that Farage and Boris promised, but for the time being lets face up to the facts and the reality.

EU referendum: German and French to unveil European superstate blueprint post-Brexit | Politics | News | Daily Express Soon in the near future those that want to remain in the EU will be glad that others with more sense could see what the final outcome is going to be . If that is what you want I suggest you move to Europe and let the the British people who want this country free from the antidemocratic EU in Brussels get on with the job of rebuilding this country that the EU has robbed and taken from far to long, I don't want to see this country end up like Greece bankrupt and subservient to unacountable bureaucrats.

Loganberry1

This poll isn't surprising. If you voted leave you have to justify that in your mind by being optimistic otherwise it is all your fault. If you voted remain you feel like you had no control over the current situation and it is not what you wanted so you are more likely to worry. If you are worried and voted leave you can't really say this otherwise you will have mental anguish. It's a well known psychological phenomenon called Cognitive Dissonance. It's the brains way if coping and is how people cope with knowing smoking kills and causes serious illness but also smoke. Just my opinion.

Punchjudy

I think most of us remember the recession. Some of us were lucky enough to get by relatively unscathed but I lost my job and my flat and had to move back home. I did very menial jobs for low pay and am only just getting back on my feet (thanks in part to Martin the money expert - thx). I voted to leave knowing there would be a hard few years ahead, in fact I thought it may be a decade before we potentially reap any benefit of leaving the EU. I had more faith:A in the UK then I did the EU and I suppose I hoped that the culture in this country may change for the better. I hope we can learn to be more self sufficient and more industrious again. I am hopeful but wary - it very much depends how it's managed. If it's mismanaged like the EU is/was then we could have egg on our face, and it will only work if the REMAIN camp face this reality and put their noses to the grind too. Their reaction has been what's given more cause for concern above everything else. :mad: