Brexit the economy and house prices part 7: Brexit Harder

Moby

https://www.theguardian.com/commentisfree/2019/aug/04/brexit-sterling-nosedive-falling-pound-britain

'If you are reading this and earn your living in UK currency, you are already poorer today than you were before June 2016. And you will be poorer by the end of the year if a no-deal EU exit comes to pass. If you have savings in sterling, then you’re in even more trouble.

In the post-truth world we have been living in for the past three years, there’s one thing that cannot be blagged away, cannot be accused of bias, cannot be propped up by a gust of groundless optimism – the British pound. '

gfplux

Moby wrote: »

https://www.theguardian.com/commentisfree/2019/aug/04/brexit-sterling-nosedive-falling-pound-britain

If you have savings in Pounds in a U.K. bank it would be prudent to move it overseas to a sterling account.

Who knows what could happen but a return to exchange controls to protect the pound is not impossible.
They were only abolished in 1979 a few years AFTER Britain joined the EU in 1973.


https://en.m.wikipedia.org/wiki/Exchange_Controls_in_the_United_Kingdom

Herzlos

https://inews.co.uk/opinion/comment/rising-home-repossessions-financial-crash-warning-opinion/
This doesn't make happy reading about our financial state. Even if it's not caused by Brexit, will Brexit make it worse? How many are just about coping that can be put over the edge?

Herzlos

Moe_The_Bartender wrote: »

What’s this thing you remainers have about a corrupt, disfunctional, undemocratic, wannabe empire known as the EU?

I don't think the EU is any of those things. It's not perfect but it does a pretty good job for us. It'd be even better for us if the representatives we sent to their Parliament actually represented us, though.

buglawton

And there was me thinking the Project Fear barrel had already been scraped empty.

jaybeetoo

If it’s Project Fear, why is this Brexiteer Government spending so much money on trying to limit the damage done by a no deal Brexit?

Moe_The_Bartender

jaybeetoo wrote: »

If it’s Project Fear, why is this Brexiteer Government spending so much money on trying to limit the damage done by a no deal Brexit?

It isn’t. It’s preparing for a smooth exit. It's also establishing a rebuttal unit to counter the myths and half truths spread about by Project Fear.

Fran_Klee

Moe_The_Bartender wrote: »

It isn’t. It’s preparing for a smooth exit. It's also establishing a rebuttal unit to counter the myths and half truths spread about by Project Fear.

It is also having to attempt to correct three years-worth of deceit, corruption and capitulation from the previous TM government.

BikingBud

Herzlos wrote: »

I don't think the EU is any of those things. It's not perfect but it does a pretty good job for us. It'd be even better for us if the representatives we sent to their Parliament actually represented us, though.

Just like those sitting in Westminster, who said they would deliver the wishes of the electorate and despite passing Article 50 have now reneged on that commitment.

In case you hadn't realised yet:

Politicians only work for themselves!

BikingBud

jaybeetoo wrote: »

If it’s Project Fear, why is this Brexiteer Government spending so much money on trying to limit the damage done by a no deal Brexit?

Trying to get across to the deniers and scaremongers that they have to take action:

Two-thirds of companies that export to the European Union have still not taken the most basic steps to prepare for a no-deal Brexit.

And fewer in Ireland!

The writing has been on the wall for some time now. I find it absolutely stunning that after 3 years we still have people saying we are not ready. It's like dealing with teenagers!

Some companies will be prepared and will exploit the opportunity, expand and increase turnover and profits.

Others will continue to hide and do nothing. A bit like being left behind because they didn't realise the internet would change the world.