Brexit the economy and house prices part 7: Brexit Harder

gfplux

For those who like a little more “meat on the bone” and can handle concepts above the one slide level. Pages 30 to 33 in the “Explainer for the agreement on the withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union”

It’s the third document down.

https://www.gov.uk/government/publications/withdrawal-agreement-and-political-declaration

gfplux

Of course there is the complete withdrawal agreement close to 600 pages where even more detail of the financial arrangement can be found.
It is a well thumbed document.

Appropriately it is the first document.

https://www.gov.uk/government/publications/withdrawal-agreement-and-political-declaration

Herzlos

spikyone wrote: »

What is your issue with it?

I'm not commenting on the merits of the acts themselves, just the voting patterns and motivations of the current ruling party. That they empirically care more about businesses than the people, so aren't likely to do much to protect the latter over the former.

Lubotrader212

Has anyone considered house prices dropping in the UK but no real impact if the currency appreciates compared to the Euro?

phillw

Malthusian wrote: »

How, precisely, would the credit crunch have happened differently if Mifid II had been in place at the time?

How precisely do you not understand analogies?

If there are problems with the regulation they will be tightened, not loosened.

Lubotrader212 wrote: »

Has anyone considered house prices dropping in the UK but no real impact if the currency appreciates compared to the Euro?

What circumstance do you think that would happen? Most people are predicting sterling on a downward trend, supposedly it's been overpriced for a while and is correcting (although that is probably brexit deniers talking).

Thrugelmir

Bendy Bananas yet again

British drinkers raise a glass to EU ruling on tonic water
Brussels says beverage makers can still use the term, despite lack of health effects

The future of the gin and tonic across the EU appears secure after manufacturers of the mixer beverage with its roots in the British Raj won what might turn out to be one of the last regulatory skirmishes with Brussels before Brexit.

After four years of wrangling, the European Commission has ruled that drink makers can continue to use the term “tonic” and its local translations in marketing their product across the bloc, in spite of the fact it has no beneficial health effects.

The commission agreed to allow the term “tonic” to continue to be applied as a “generic descriptor”, a designation of a class of food or drinks whose name could imply an effect on health, but where consumers do not generally make that connection.

Sales of tonic water have risen alongside a boom in gin consumption in recent years, but manufacturers feared a possible crackdown against companies who made false health claims about their products.

“Whatever happens with Brexit, at least we can now relax in the knowledge that the future of the quintessentially British gin and tonic is secured,” said Gavin Partington, director-general of the British Soft Drinks Association.

The tonic water ruling is published in the most recent edition of the Official Journal of the European Union, ending a four year lobbying campaign to persuade Brussels that it was a traditional product that had been sold across the bloc for over 20 years.

Tonic has been used since the 19th century in the name of non-alcoholic beverages which contain the bittering element quinine; it is sweetened with sugar or other products and then either consumed neat or as a mixer.

Tonic water is said to have been developed from the habit of British people in India during the Raj taking quinine tablets to prevent malaria with lemon or lime in gin, according to the BSDA. On returning home they missed the drink and maintained the tradition.

In 1858 Erasmus Bond was granted a patent to develop “aerated tonic liquid”; Schweppes began producing the drink in the 1870s and while quinine is still used to flavour the product it has no pharmacological effect. Other manufacturers include Fevertree and Britvic.

“Britain prepares to leave but tonic water stays,” said one European Commission official.

Manufacturers feared that without the commission ruling, regulators in individual member states could require a change to labelling, making it more costly and complex to sell the drink across the 27 remaining member states.

Last year sales of tonic water in the UK were £687m, up 34.5 per cent compared to 2017, according to Nielsen, a market research company. This mirrored the surge in UK gin sales, which were worth more than £1.6bn in 2018, up 38 per cent on 2017, the BSDA said.

https://www.ft.com/content/7d9836b6-419e-11e9-b896-fe36ec32aece

phillw

Thrugelmir wrote: »

Bendy Bananas yet again

Your point is unclear, bendy bananas was a myth.

"The commission agreed to allow the term “tonic” to continue to be applied as a “generic descriptor”, a designation of a class of food or drinks whose name could imply an effect on health, but where consumers do not generally make that connection."

It's a great world we live in where the drink claims to have health benefits by being called "Tonic" and yet consumers are too stupid to know it, so it's fine. If people were cleverer then they'd have to change the name.

After brexit we'll finally be free to launch CancerCure soft drinks.

Enterprise_1701C

phillw wrote: »

Your point is unclear, bendy bananas was a myth.

"The commission agreed to allow the term “tonic” to continue to be applied as a “generic descriptor”, a designation of a class of food or drinks whose name could imply an effect on health, but where consumers do not generally make that connection."

It's a great world we live in where the drink claims to have health benefits by being called "Tonic" and yet consumers are too stupid to know it, so it's fine. If people were cleverer then they'd have to change the name.

After brexit we'll finally be free to launch CancerCure soft drinks.

Believe me, there is plenty of legislation on the British statute books about health claims.

melanzana

Very few people seem to care what will happen if there is a No Deal exit.

I often wonder why that is? Is there a guarantee from our Government that everything will be fine and dandy if that happens or what?

Personally I think the FPTP system has disengaged many from the political process. It is either Red or Blue really, no point in arguing about the candidate anymore in a safe seat.

And the irony is that a lot of talk is about democracy and the will of the people. Well to me there is little real democracy in our voting system anyway. So therefore there is little engagement. And those in HoC and the media drive it really. Just my view now.

Discuss!

kabayiri

melanzana wrote: »

Very few people seem to care what will happen if there is a No Deal exit.
...

Personally, I believe that should a No Deal / default exit take place, there will be a jolt to the system, followed by a new resolve to make things work.

A default exit does not preclude further negotiations.

There may even be stakeholders who will feel they have more of a voice to bring to the table. You wouldn't expect German auto makers or Spanish fruit producers to just give up with a shrug. Likewise with UK business.

At some point, the politics will have to make way for real people to do what they are good at...which is doing business.