Brexit, the economy and house prices part 5

westernpromise

Herzlos wrote: »

There's apparently 1.3 million Brits living in the EU. Not all will be pensioners in Spain:

https://fullfact.org/europe/how-many-uk-citizens-live-other-eu-countries/

I've known a few yoofs who've done uni years in the EU (mostly France), but I suspect that's a tiny number overall.

Thanks, that's really interesting. I agree not all will be pensioners in Spain, but the 309,000 in Spain and 157,000 in France do look they could be largely retirees, as do those in places like Greece and Cyprus. I'm still scratching my head a bit TBH - is being able to work in the EU one of those supposed advantages nobody ever exploits, like theatres if you live in London?

Herzlos

I don't think it's heavily exploited. I do work in the EU, but I'm based in the UK so I don't entirely count. I suspect there are a lot more like me than there are who live and work full time in the EU.

I don't know why more of us don't work elsewhere in the EU.

westernpromise

Herzlos wrote: »

I don't think it's heavily exploited. I do work in the EU, but I'm based in the UK so I don't entirely count. I suspect there are a lot more like me than there are who live and work full time in the EU.

I don't know why more of us don't work elsewhere in the EU.

I reckon it's language. We don't speak foreign languages, broadly speaking, so we aren't equipped to relocate in search of work.

Herzlos

I think you're probably right; language will be the biggest barrier, hence Brits moving to places that speak English (US, Canada, Australia)

Arklight

mayonnaise wrote: »

Apparently, we're going it alone.
Our own Global Navigation System, satellites to be launched from the Spaceport on the Shetland islands.
https://www.express.co.uk/news/uk/956646/brexit-news-uk-eu-brussels-galileo-gavin-williamson
Global Britain firing on all cylinders...

In response, Prime Minister Theresa May has asked the UK Space Agency to lead a taskforce of engineering and aerospace experts to develop options for the nation’s own Global Navigational System, with the capability to guide missiles and plan operations.

They are absolutely delusional, aren't they?

DollarPincher

My 2 cents...Brexit or not, a critical low build rate of new homes suggests that demand for homes in the south east, particularly London, will continue to outstrip demand.

LHW99

It will probably be cheaper to have our own system than to keep paying whatever the EU demands AND we'll get what access we want when we want it.

I believe Inmarsat is in that sector - and is a British company - so the expertise and capability is available.

Herzlos

Chronic underbuilding is a real problem that's independent of Brexit.

Pauciloquent_one wrote: »

Extremist remainers?
Yes.
Oh, yes.
They would much rather the UK were held to ransom, apparently - and Galileo is just one more example.
It will probably be cheaper to have our own system than to keep paying whatever the EU demands AND we'll get what access we want when we want it.
Could you guarantee that with the EU?
I doubt it.

Galileo is expected to cost £10bn split across the EU. Estimates for ours are £5bn with no cost sharing. If Galileo was the only thing we could share costs on I'd agree with you, but it's one of dozens of projects we'll pay more to have.

Given that our EU contributions were largely just covering our share, it's unlikely leaving the EU will save us any money.

Moby

https://www.buzzfeed.com/amphtml/alexspence/the-brexiteers-customs-plan-would-hurt-145000-uk-companies?utm_term=.ia739OdQm&__twitter_impression=true

The customs arrangement being pushed by Boris Johnson and other Tory Brexiteers would leave the British economy worse off by 1.8% in the long run and negatively impact around 145,000 UK companies, cabinet ministers have been warned.

BuzzFeed News has learned that this stark assessment was presented to members of Theresa May's Brexit "war cabinet" at a crunch meeting last week when they debated the future of the UK's customs arrangements with the European Union.

The assessment was prepared by the Treasury. Its existence was confirmed by two sources, one of whom said that only about 40 people had seen the document.

gfplux

westernpromise wrote: »

I've just re-let my flat in central London to three French graduates. They are between 24 and 26 years old and they've come to London to make careers here. They're on about £35 to £37k apiece. The rent's just under £30k a year, so they're splitting that three ways. They're having an adventure and they're very excited to be in London. At their ages and career stages they can look forward to rapid pay improvement.

I mention this because it occurs to me that I never hear of young Britons doing the same. Literally never. I have never ever heard or read of young Britons decamping overseas to seek their fortune in another EU country: in Madrid, in Vienna, in Berlin, in Paris (which would be my choices in order if I were 24). I don't mean short-term non-jobs working as waiters or holiday reps - I mean people uprooting lock stock and barrel and making a serious commitment to live elsewhere.

Is this happening and I'm not hearing about it, or is it not actually happening? If not, I do wonder why the enthusiasm among the yoof for EU membership, because from what I can see (and my letting agent confirms this is far from unusual), they are turkeys in favour of Christmas.EU membership is allowing ambitious young EU foreigners to come to London and live and make careers here, but our own don't appear to be seeking jobs in media in Cologne or textiles in Dusseldorf or leather in Madrid. A flat and three decent London jobs have gone to three French women with the bottle to come here and make a life. Is there a similar traffic the other way?

There are large numbers of young Brits working in Luxembourg. IT and the financial industry in the main. Language while an issue does not close the door as most medium and large company!!!8217;s have English as their company language.
Over the last few years I have seen and heard of many young British people working (probably cash in hand) in tourist spots around the Mediterranea.
There may be other reasons but that can be for others to discuss.

However Brexit plus the transition at the end of 2023 will make it much more difficult to get a job in the EU27 and might even shorten the adventure of your three young tenants. The optimism of youth and membership of the EU will allow them to come and work in Britain but it is a sad fact some of those who have been in Britain for some time are leaving.
When I talk of the difficulties in getting a job it may be more an employer taking the easy option of recruiting locally than jumping through the inevitable hoops of hiring from a third country.

Lastly the vast majority of the +1.3million Brits living in the EU27 are economically active despite the image of Costa del Sol Gin and Tonic.