Masses leaving UK as sterling weakens more and more

AG47

Soon Ben Brits will be leaving the UK to try to earn other currencies to send home for their families back in the UK:):)

Ok bit of an exaggeration, but will all the foriegners still flock to out shores with such a weakening currency?

Will the ones already here want to stay if the pound continues to weaken?

Who is going to live in all this excess supply of property being added to the supply every year if demand is going down so much?

ruperts

AG47 wrote: »

Soon Ben Brits will be leaving the UK to try to earn other currencies to send home for their families back in the UK:):)

Ok bit of an exaggeration, but will all the foriegners still flock to out shores with such a weakening currency?

Will the ones already here want to stay if the pound continues to weaken?

Who is going to live in all this excess supply of property being added to the supply every year if demand is going down so much?

I don't think it's an exaggeration to say that many brits will be considering leaving the country to earn a proper currency. Most professionals have those opportunities and many take them even when the pound is strong. Now those jobs pay 20% more than they did a few months ago it'll be all the more tempting, and certainly is in my case.

High property prices are here to stay so if you're a young professional who can't get on the property ladder in the U.K. and have opportunities to earn a comparatively mammoth salary abroad I think it'll be more tempting than ever before. The result will be a generational brain drain and the poor old baby boomers will have nobody but unskilled immigrants left to pay their final salary pensions and health care costs. For them it's a case of you reap what you sow. For the younger professionals it's a shame their own country couldn't look after them, but they're a globalised generation anyway so they'll be fine out there in the modern world.

Cornucopia

Is it too early in the day to call the result of the Daily Prize for Boomer-bashing?

setmefree2

Cornucopia wrote: »

Is it too early in the day to call the result of the Daily Prize for Boomer-bashing?

I think so - I'm sure Toxic Toastie will be along soon to take that prize.....

Cornucopia

Is he related to Talkie Toaster from Red Dwarf?

ruggedtoast

Poor boomers. They wanted a Brexit. And they got a Brexit. And heaven knows theyre miserable now.

Something they only voted to happen to other people.

kabayiri

I think part of our and the EU referendum problem was that not enough Brits were seeking their living elsewhere.

Freedom of movement should have presented opportunities elsewhere in Europe, but for whatever reason, the net flow was in to UK year on year.

Part of that is clearly down to British attitudes, but you could also ask if other European countries were doing enough to support Freedom of Movement for Brits?

There isn't as comprehensive language support elsewhere, for example.

Digby Jones also complained about the obstacles presented when trying to buy French service companies. British companies are remarkably open about ownership.

mrginge

I can say with reasonable certainty that excess supply of housing isn't going to be an issue.

Chickereeeee

Drop in £ = higher import prices = jump in inflation

BOE has to raise interest rates to combat inflation

£ rises strongly. Everyone comes back again?

C

societys_child

Cornucopia wrote: »

Is it too early in the day to call the result of the Daily Prize for Boomer-bashing?

Aye, the weekend loons were up bright and early this morning.

cells

One risk of brexit is if the UK tries to limit EU migration to zero but the EU still keeps free movement for Brits. We might see a slow and sustained outflow maybe in the region of just 50k per year