FabSwingers.com > Forums > Politics > Autumn statement
Autumn statement
Jump to: Newest in thread
 |
By (user no longer on site) OP
over a year ago
|
Mr Hammond's speech will start about 12.30pm and it is the first major economic statement since the brexit vote, it will also unveil forecasts which are expected to show higher borrowing and slower growth. Mr Hammond has warned of "turbulence" and "an unprecedented level of uncertainty" as the UK leaves the EU.
Few bullet points:
Among the measures to be announced are:
Reducing the rate at which benefits are withdrawn from people when they start work
Banning upfront fees imposed by lettings agents in England
Increasing the National Living Wage to £7.50 an hour from April 2017
£1.4bn aimed at delivering 40,000 new affordable homes in England
What else do you reckon they will add or change?
 |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *oyce69Man
over a year ago
Driffield |
"Not quite the 'emergency budget' Osborne warned about....
Because Osborne was SACKED! "
Whether he was sacked or not, the fact remains that there was no emergency budget. Just another remain scare tactic. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *LCCCouple
over a year ago
Cambridge |
"Not quite the 'emergency budget' Osborne warned about....
Because Osborne was SACKED!
Whether he was sacked or not, the fact remains that there was no emergency budget. Just another remain scare tactic. "
So if you got sacked would it be fair to blame you for not doing the things that you said you were going to do when you thought you would still have a job? |
Reply privately, Reply in forum +quote
or View forums list | |
"Not quite the 'emergency budget' Osborne warned about....
Because Osborne was SACKED! "
Fine. I'm sure you'll consider his claims, when discussing what factors tipped the referendum one way or the other. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"Not quite the 'emergency budget' Osborne warned about....
Because Osborne was SACKED!
Whether he was sacked or not, the fact remains that there was no emergency budget. Just another remain scare tactic.
So if you got sacked would it be fair to blame you for not doing the things that you said you were going to do when you thought you would still have a job? "
That really isn't the same thing is it,
Osborne was working for the government and a government spokesman, his statement that there would be an emergency budget if the country voted to leave was a statement by and on behalf of the government.
In my opinion this was a scare tactic by the government as was the Obama statement we would be at the back of the queue |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *LCCCouple
over a year ago
Cambridge |
"Not quite the 'emergency budget' Osborne warned about....
Because Osborne was SACKED!
Whether he was sacked or not, the fact remains that there was no emergency budget. Just another remain scare tactic.
So if you got sacked would it be fair to blame you for not doing the things that you said you were going to do when you thought you would still have a job?
That really isn't the same thing is it,
Osborne was working for the government and a government spokesman, his statement that there would be an emergency budget if the country voted to leave was a statement by and on behalf of the government.
In my opinion this was a scare tactic by the government as was the Obama statement we would be at the back of the queue "
The government changed! What proof do you have that we won't be at the back of the queue for a trade deal with the US? We can't even START negotiations with them until we have left the EU (March 2019) and Trump is currently pulling OUT of free trade agreements, why do you think he will keen on doing one with us? |
Reply privately, Reply in forum +quote
or View forums list | |
"
The government changed! What proof do you have that we won't be at the back of the queue for a trade deal with the US? We can't even START negotiations with them until we have left the EU (March 2019) and Trump is currently pulling OUT of free trade agreements, why do you think he will keen on doing one with us? "
Maybe, but you very very frequently quote the mis-truths told by 'leave' , which there were many.
Today shows one of the major mis-truths told by the government/remain.
I can see both sides of what happened.
You blindly support one view only. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *LCCCouple
over a year ago
Cambridge |
"
The government changed! What proof do you have that we won't be at the back of the queue for a trade deal with the US? We can't even START negotiations with them until we have left the EU (March 2019) and Trump is currently pulling OUT of free trade agreements, why do you think he will keen on doing one with us?
Maybe, but you very very frequently quote the mis-truths told by 'leave' , which there were many.
Today shows one of the major mis-truths told by the government/remain.
I can see both sides of what happened.
You blindly support one view only."
There is nothing blind about it. One person said what he was going to do if Leave won, he was sacked before he could do it. No lies, no conspiracy, no scare tactics. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *oo hotCouple
over a year ago
North West |
"Not quite the 'emergency budget' Osborne warned about...."
For the Treasury to have retained is fiscal objective of balancibng the books by 2020, there would have had to have been an emergency budget. Abandoning the policy of commitment to deficit reduction after the result was a more palatable stop gap decision.
Hammond has a tough job today because he has to perform like a magician. Expect blame to be laid at the feet of Labour for the mess of the fiscal situation that they left behind rather than any admission that Brexit will reduce the tax take. Hard core Brexiters will not allow him to speak to truth and so you will get an Autumn statement of riddles and sleight of hand.
Remember ther Brexit mantra - stay positive, thinking negative is pointless when someone else is responsible for fixing the shit storm you created yourself. |
Reply privately, Reply in forum +quote
or View forums list | |
"
There is nothing blind about it. One person said what he was going to do if Leave won, he was sacked before he could do it. No lies, no conspiracy, no scare tactics."
Wow. If you hope to convince anyone of anything it would work better if you at least pretended to be able to take a balanced view.
It's the worst of Politician Speak. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"Not quite the 'emergency budget' Osborne warned about....
Because Osborne was SACKED!
Whether he was sacked or not, the fact remains that there was no emergency budget. Just another remain scare tactic.
So if you got sacked would it be fair to blame you for not doing the things that you said you were going to do when you thought you would still have a job?
That really isn't the same thing is it,
Osborne was working for the government and a government spokesman, his statement that there would be an emergency budget if the country voted to leave was a statement by and on behalf of the government.
In my opinion this was a scare tactic by the government as was the Obama statement we would be at the back of the queue
The government changed! What proof do you have that we won't be at the back of the queue for a trade deal with the US? We can't even START negotiations with them until we have left the EU (March 2019) and Trump is currently pulling OUT of free trade agreements, why do you think he will keen on doing one with us? "
The so called government only changed as they got it wrong badly wrong.
What proof do you have we will be at the back of the queue.
Do you honestly believe that talks have not been underway laying the foundations for trade deals when we do leave.
Trump is pulling out of TPP which he believe s will affect jobs in the US that does not mean he will not trade with us or anyone else for that matter,why do you believe he won't deal with us
It's all about negotiation at the end of the day.
It amazes me that people are still doom mongering and nay saying.
We are going to leave it will happen, However I do believe there should be an all party representaion in the negotiations.
I also believe that if it goes to a vote in parliament the MP for each constituency should vote the way their constituents voted. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
People keep saying we cannot negotiate anything with another country until we leave the EU after the 2 years, what are they going to kick us out of the EU?  |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *obka3Couple
over a year ago
bournemouth |
The eu and many on here said there wouldbe no talks thats NO talks until after art 50 had been triggered just remind me again who was David davies talking to yesterday ? Ah yes the chief negotiator for the EU,perhaps they were just dicussing what biscuits they will be having .
|
Reply privately, Reply in forum +quote
or View forums list | |
|
By *ammskiMan
over a year ago
lytham st.annes |
"
The government changed! What proof do you have that we won't be at the back of the queue for a trade deal with the US? We can't even START negotiations with them until we have left the EU (March 2019) and Trump is currently pulling OUT of free trade agreements, why do you think he will keen on doing one with us?
Maybe, but you very very frequently quote the mis-truths told by 'leave' , which there were many.
Today shows one of the major mis-truths told by the government/remain.
I can see both sides of what happened.
You blindly support one view only.
There is nothing blind about it. One person said what he was going to do if Leave won, he was sacked before he could do it. No lies, no conspiracy, no scare tactics."
total bullshit CLCC ,where,s your proof ? |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *oo hotCouple
over a year ago
North West |
"
One person said what he was going to do if Leave won, he was sacked before he could do it. No lies, no conspiracy, no scare tactics.
total bullshit CLCC ,where,s your proof ?"
Are you asking CLCC to prove that George Osborne was sacked? WTF kind of world do we now live in????? |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *oo hotCouple
over a year ago
North West |
OBR put direct Brexit-related additional borrowing at £58.7bn over 6 years. Or, if you prefer, "£188mn a week".
Remind me again of our net contributions to the EU?
So our currency loses 20% of its value before we have even left, any potential savings from EU subscriptions have just been wiped out and we are faced with years of uncertainty and a Government that appears to only be keen on snooping, secrecy and subterfuge.
Good call..... |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *mmabluTV/TS
over a year ago
upton wirral |
"People keep saying we cannot negotiate anything with another country until we leave the EU after the 2 years, what are they going to kick us out of the EU? "
Make trading with them difficult and not pay us back the millions they may owe us |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"OBR put direct Brexit-related additional borrowing at £58.7bn over 6 years. Or, if you prefer, "£188mn a week".
Remind me again of our net contributions to the EU?
So our currency loses 20% of its value before we have even left, any potential savings from EU subscriptions have just been wiped out and we are faced with years of uncertainty and a Government that appears to only be keen on snooping, secrecy and subterfuge.
Good call....."
 |
Reply privately, Reply in forum +quote
or View forums list | |
"People keep saying we cannot negotiate anything with another country until we leave the EU after the 2 years, what are they going to kick us out of the EU? Make trading with them difficult and not pay us back the millions they may owe us"
Yes, that will really help our economy |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *ammskiMan
over a year ago
lytham st.annes |
"
One person said what he was going to do if Leave won, he was sacked before he could do it. No lies, no conspiracy, no scare tactics.
total bullshit CLCC ,where,s your proof ?
Are you asking CLCC to prove that George Osborne was sacked? WTF kind of world do we now live in?????"
. No I am not asking was he sacked,I am asking CLCC to prove there was no lies |
Reply privately, Reply in forum +quote
or View forums list | |
|
By (user no longer on site)
over a year ago
|
"OBR put direct Brexit-related additional borrowing at £58.7bn over 6 years. Or, if you prefer, "£188mn a week".
Remind me again of our net contributions to the EU?
So our currency loses 20% of its value before we have even left, any potential savings from EU subscriptions have just been wiped out and we are faced with years of uncertainty and a Government that appears to only be keen on snooping, secrecy and subterfuge.
Good call....."
Can you show the link for the Brexit related borrowing please just been on the OBR website and can't find it.
Ta |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *oo hotCouple
over a year ago
North West |
"OBR put direct Brexit-related additional borrowing at £58.7bn over 6 years. Or, if you prefer, "£188mn a week".
Remind me again of our net contributions to the EU?
So our currency loses 20% of its value before we have even left, any potential savings from EU subscriptions have just been wiped out and we are faced with years of uncertainty and a Government that appears to only be keen on snooping, secrecy and subterfuge.
Good call.....
Can you show the link for the Brexit related borrowing please just been on the OBR website and can't find it.
Ta "
Be patient. It has only just been reported on Sky News, Reuters and BBC News. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *andS66Couple
over a year ago
Derby |
"Not quite the 'emergency budget' Osborne warned about....
Because Osborne was SACKED!
Whether he was sacked or not, the fact remains that there was no emergency budget. Just another remain scare tactic.
So if you got sacked would it be fair to blame you for not doing the things that you said you were going to do when you thought you would still have a job?
That really isn't the same thing is it,
Osborne was working for the government and a government spokesman, his statement that there would be an emergency budget if the country voted to leave was a statement by and on behalf of the government.
In my opinion this was a scare tactic by the government as was the Obama statement we would be at the back of the queue
The government changed! What proof do you have that we won't be at the back of the queue for a trade deal with the US? We can't even START negotiations with them until we have left the EU (March 2019) and Trump is currently pulling OUT of free trade agreements, why do you think he will keen on doing one with us? "
The government hasn't changed - it is still a tory government last time I looked.
The personnel in the government may have changed, and this is entirely due to a change in the circumstances of the country - that is, Cameron and Osborne supported Remain, told plenty of lies and tried to scare everyone into voting remain, and when that didn't work, and the country voted leave, they were left in a position that they would not be able to justify the lies they told, and that the economic armageddon that they predicted would happen the day after a Brexit vote wouldn't actually materialise.
Part of this scaremongering was that there would have to be an emergency budget to raise 30 Billion immediately after a Brexit vote - i.e. on June 24th.
No doubt, if he had stayed, and put in place his emergency budget, (That has been proven that the country does not need), you would be denouncing him for being a vindictive little bastard, as the economic circumstances since have not warranted any such budget.
I do believe that you would actually like the economic armageddon, including the emergency budget, predicted by your so-called experts, so that you could turn round to everyone that is more optimistic about our country's future, and say "I told you so".
You accuse those that voted leave of being thick and stupid.
Well consider this....where would Osborne be getting the 30 Billion from in the emergency budget? The rich, or the working class, the poor and the vulnerable? And who would the economic armageddon that you so want and wish for, just so that you can say "I told you so", hit hardest?
Well, how thick and stupid is that wish? - just so you can say "I told you so"
You do have a choice if you hate this country and the people in it so much - pack your bags and leave.
|
Reply privately, Reply in forum +quote
or View forums list | |
"Not quite the 'emergency budget' Osborne warned about...."
I think it's clear now that Osbourne's emergency budget was a load of scaremongering nonsense. He fully deserved to get the sack for coming out with that kind of crap. Hammond said the British economy will still outperform all other economies in the EU next year. Britain is predicted to be the fastest growing economy in the G7, next year. |
Reply privately, Reply in forum +quote
or View forums list | |
"Not quite the 'emergency budget' Osborne warned about....
Because Osborne was SACKED!
Whether he was sacked or not, the fact remains that there was no emergency budget. Just another remain scare tactic.
So if you got sacked would it be fair to blame you for not doing the things that you said you were going to do when you thought you would still have a job?
That really isn't the same thing is it,
Osborne was working for the government and a government spokesman, his statement that there would be an emergency budget if the country voted to leave was a statement by and on behalf of the government.
In my opinion this was a scare tactic by the government as was the Obama statement we would be at the back of the queue
The government changed! What proof do you have that we won't be at the back of the queue for a trade deal with the US? We can't even START negotiations with them until we have left the EU (March 2019) and Trump is currently pulling OUT of free trade agreements, why do you think he will keen on doing one with us?
The government hasn't changed - it is still a tory government last time I looked.
The personnel in the government may have changed, and this is entirely due to a change in the circumstances of the country - that is, Cameron and Osborne supported Remain, told plenty of lies and tried to scare everyone into voting remain, and when that didn't work, and the country voted leave, they were left in a position that they would not be able to justify the lies they told, and that the economic armageddon that they predicted would happen the day after a Brexit vote wouldn't actually materialise.
Part of this scaremongering was that there would have to be an emergency budget to raise 30 Billion immediately after a Brexit vote - i.e. on June 24th.
No doubt, if he had stayed, and put in place his emergency budget, (That has been proven that the country does not need), you would be denouncing him for being a vindictive little bastard, as the economic circumstances since have not warranted any such budget.
I do believe that you would actually like the economic armageddon, including the emergency budget, predicted by your so-called experts, so that you could turn round to everyone that is more optimistic about our country's future, and say "I told you so".
You accuse those that voted leave of being thick and stupid.
Well consider this....where would Osborne be getting the 30 Billion from in the emergency budget? The rich, or the working class, the poor and the vulnerable? And who would the economic armageddon that you so want and wish for, just so that you can say "I told you so", hit hardest?
Well, how thick and stupid is that wish? - just so you can say "I told you so"
You do have a choice if you hate this country and the people in it so much - pack your bags and leave.
"
CLCC hates America now too so best not suggest they go there.  |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *oo hotCouple
over a year ago
North West |
Today we have seen in real figures the true cost of Brexit - albeit based on "worst case" scenario of a lowered rate of growth. The truth is of course that no one knows what the actual growth figures will be because we have not yet left and so Hammond can only guess.
What we do know is that if immigration is to be reduced then by default, growth must slow as there will be insufficient workers to feed the growth. We also know that a departure from the EU will also have to be aligned to an exit from the single market which means unnecessary burdens to trade with some of our longest standing trading partners - Ireland, France and Germany to name just three. This will also have a negative effect on both growth and inward investment.
I personally think that if the UK can get away with any kind of positive growth over the next two to three years we will be very lucky even it will take another decade to undo the damage caused by Brexit.
|
Reply privately, Reply in forum +quote
or View forums list | |
The UK economy is "resilient" despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said.
In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit vote.
http://www.bbc.co.uk/news/uk-politics-38068358 |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *obka3Couple
over a year ago
bournemouth |
"OBR put direct Brexit-related additional borrowing at £58.7bn over 6 years. Or, if you prefer, "£188mn a week".
Remind me again of our net contributions to the EU?
So our currency loses 20% of its value before we have even left, any potential savings from EU subscriptions have just been wiped out and we are faced with years of uncertainty and a Government that appears to only be keen on snooping, secrecy and subterfuge.
Good call....."
The pound is 10% down on the euro and around 15 down on the dollar try to keep up |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *LCCCouple
over a year ago
Cambridge |
"The UK economy is "resilient" despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said.
In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit vote.
http://www.bbc.co.uk/news/uk-politics-38068358"
And don't forget to add to that figure the £70bn of monetary policy measures that the Bank of England has already spent, so its really £192bn by 2020.
Well done guys, great work on Brexit, I hope you're happy with yourselves. |
Reply privately, Reply in forum +quote
or View forums list | |
"OBR put direct Brexit-related additional borrowing at £58.7bn over 6 years. Or, if you prefer, "£188mn a week".
Remind me again of our net contributions to the EU?
So our currency loses 20% of its value before we have even left, any potential savings from EU subscriptions have just been wiped out and we are faced with years of uncertainty and a Government that appears to only be keen on snooping, secrecy and subterfuge.
Good call....."
The pound would have fallen in any event as it is generally acknowkedged that it was over valued . We can hardly blame this on Brexit .
In any event a lower pound means more competitive exports and is a boom to the hospitality industry.
Countries will still need to buy our goods regardless of Brexit .
Trading agreements on a simplistic basis are just pieces of paper .
We can easily re isssue them in a much simplified format .
Currently we pay more into the EU than we get back so we are guaranteed to save . |
Reply privately, Reply in forum +quote
or View forums list | |
"The UK economy is "resilient" despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said.
In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit vote.
http://www.bbc.co.uk/news/uk-politics-38068358
And don't forget to add to that figure the £70bn of monetary policy measures that the Bank of England has already spent, so its really £192bn by 2020.
Well done guys, great work on Brexit, I hope you're happy with yourselves. "
Thanks . We are all saving the country money in the long term.
Like it or not countries still need to buy our goods .
Just think of all the EU contributions which we will save. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *LCCCouple
over a year ago
Cambridge |
"The UK economy is "resilient" despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said.
In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit vote.
http://www.bbc.co.uk/news/uk-politics-38068358
And don't forget to add to that figure the £70bn of monetary policy measures that the Bank of England has already spent, so its really £192bn by 2020.
Well done guys, great work on Brexit, I hope you're happy with yourselves. Thanks . We are all saving the country money in the long term.
Like it or not countries still need to buy our goods .
Just think of all the EU contributions which we will save. "
No Pat, we are poorer, much much poorer. That £192bn of extra borrowing and monetary policy measures is the equivalent of 5 years of the Defence budget, or 6.5 years of the Education budget.
|
Reply privately, Reply in forum +quote
or View forums list | |
|
By *oo hotCouple
over a year ago
North West |
"The UK economy is "resilient" despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said.
In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit vote.
http://www.bbc.co.uk/news/uk-politics-38068358
And don't forget to add to that figure the £70bn of monetary policy measures that the Bank of England has already spent, so its really £192bn by 2020.
Well done guys, great work on Brexit, I hope you're happy with yourselves. Thanks . We are all saving the country money in the long term.
Like it or not countries still need to buy our goods .
Just think of all the EU contributions which we will save. "
How???
Hammond has been forced by Queen Theresa to issue a best case scenario that Brexit is going to cost us the net contributions that we would be making to the EU for the next five years at least. NOTE - BEST CASE SCENARIO. Have you not just heard the Autumn statement?
That means the economy suffers a major setback, business and industry faces a long periood of uncertainty, no £350 million / week million for the NHS (despite having a £30 billion black hole) and a major skills shortage arriving in the name of "controlled immigration." Let's also just factor in the loss of rights and priviliges that UK citizens currently enjoy as EU citizens and you can call it a cluster fuck.
Remember that the above is a best case scenario and it is based on a controlled and managed Brexit which at the moment seems improbable and therefore things could get much worse than this forecast.
Happy days for Brexiters. Intense self-flagellation whilst masturbating furiously at the very thought of freedom from foreigners. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *oo hotCouple
over a year ago
North West |
"OBR put direct Brexit-related additional borrowing at £58.7bn over 6 years. Or, if you prefer, "£188mn a week".
Remind me again of our net contributions to the EU?
So our currency loses 20% of its value before we have even left, any potential savings from EU subscriptions have just been wiped out and we are faced with years of uncertainty and a Government that appears to only be keen on snooping, secrecy and subterfuge.
Good call..... The pound would have fallen in any event as it is generally acknowkedged that it was over valued . We can hardly blame this on Brexit .
In any event a lower pound means more competitive exports and is a boom to the hospitality industry.
Countries will still need to buy our goods regardless of Brexit .
Trading agreements on a simplistic basis are just pieces of paper .
We can easily re isssue them in a much simplified format .
Currently we pay more into the EU than we get back so we are guaranteed to save . "
The fall in the pound has nothing to do with Brexshit!!!!! Is it just a coincidence that it fell like a stone in the immediate aftermath of the referendum and then again in September when there was talk of a hard brexit being the only option on the table? Wake up. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *LCCCouple
over a year ago
Cambridge |
"OBR put direct Brexit-related additional borrowing at £58.7bn over 6 years. Or, if you prefer, "£188mn a week".
Remind me again of our net contributions to the EU?
So our currency loses 20% of its value before we have even left, any potential savings from EU subscriptions have just been wiped out and we are faced with years of uncertainty and a Government that appears to only be keen on snooping, secrecy and subterfuge.
Good call..... The pound would have fallen in any event as it is generally acknowkedged that it was over valued . We can hardly blame this on Brexit .
In any event a lower pound means more competitive exports and is a boom to the hospitality industry.
Countries will still need to buy our goods regardless of Brexit .
Trading agreements on a simplistic basis are just pieces of paper .
We can easily re isssue them in a much simplified format .
Currently we pay more into the EU than we get back so we are guaranteed to save .
The fall in the pound has nothing to do with Brexshit!!!!! Is it just a coincidence that it fell like a stone in the immediate aftermath of the referendum and then again in September when there was talk of a hard brexit being the only option on the table? Wake up."
Not forgetting that it fell to its lowest point in wasn't it 168 years? So it's been over valued since before every human being on the planet was even born. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *andS66Couple
over a year ago
Derby |
"
I personally think that if the UK can get away with any kind of positive growth over the next two to three years we will be very lucky even it will take another decade to undo the damage caused by Brexit.
"
Or to put it another way - It will take only 10 years for the Brexit process to undo the damage that 40 years of EU rule has done.  |
Reply privately, Reply in forum +quote
or View forums list | |
"OBR put direct Brexit-related additional borrowing at £58.7bn over 6 years. Or, if you prefer, "£188mn a week".
Remind me again of our net contributions to the EU?
So our currency loses 20% of its value before we have even left, any potential savings from EU subscriptions have just been wiped out and we are faced with years of uncertainty and a Government that appears to only be keen on snooping, secrecy and subterfuge.
Good call..... The pound would have fallen in any event as it is generally acknowkedged that it was over valued . We can hardly blame this on Brexit .
In any event a lower pound means more competitive exports and is a boom to the hospitality industry.
Countries will still need to buy our goods regardless of Brexit .
Trading agreements on a simplistic basis are just pieces of paper .
We can easily re isssue them in a much simplified format .
Currently we pay more into the EU than we get back so we are guaranteed to save .
The fall in the pound has nothing to do with Brexshit!!!!! Is it just a coincidence that it fell like a stone in the immediate aftermath of the referendum and then again in September when there was talk of a hard brexit being the only option on the table? Wake up."
Brexit may have triggered it but was not the underlying cause . Markets react very quickly . If a currency is over valued it is inevitable that it will fall. The pound was over valued for at least three years.
In addition share prices rose when the results were announced . |
Reply privately, Reply in forum +quote
or View forums list | |
"The UK economy is "resilient" despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said.
In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit vote.
http://www.bbc.co.uk/news/uk-politics-38068358
And don't forget to add to that figure the £70bn of monetary policy measures that the Bank of England has already spent, so its really £192bn by 2020.
Well done guys, great work on Brexit, I hope you're happy with yourselves. Thanks . We are all saving the country money in the long term.
Like it or not countries still need to buy our goods .
Just think of all the EU contributions which we will save.
How???
Hammond has been forced by Queen Theresa to issue a best case scenario that Brexit is going to cost us the net contributions that we would be making to the EU for the next five years at least. NOTE - BEST CASE SCENARIO. Have you not just heard the Autumn statement?
That means the economy suffers a major setback, business and industry faces a long periood of uncertainty, no £350 million / week million for the NHS (despite having a £30 billion black hole) and a major skills shortage arriving in the name of "controlled immigration." Let's also just factor in the loss of rights and priviliges that UK citizens currently enjoy as EU citizens and you can call it a cluster fuck.
Remember that the above is a best case scenario and it is based on a controlled and managed Brexit which at the moment seems improbable and therefore things could get much worse than this forecast.
Happy days for Brexiters. Intense self-flagellation whilst masturbating furiously at the very thought of freedom from foreigners."
To date I do not see too many FTSE companies complaining . |
Reply privately, Reply in forum +quote
or View forums list | |
"The UK economy is "resilient" despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said.
In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit vote.
http://www.bbc.co.uk/news/uk-politics-38068358"
So it's still growth then and not the recession predicted by the Remain campaign and the scaremongering from Cameron and Osborne that leaving the EU would trigger a DIY recession. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *obka3Couple
over a year ago
bournemouth |
"The UK economy is "resilient" despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said.
In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit vote.
http://www.bbc.co.uk/news/uk-politics-38068358
So it's still growth then and not the recession predicted by the Remain campaign and the scaremongering from Cameron and Osborne that leaving the EU would trigger a DIY recession. "
And faster growth than anywhere in the EU |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *oo hotCouple
over a year ago
North West |
CAVEAT - Subject to a best case scenario...
Yet most Brexiters dont want a best case scenario they want hard core full on divorce with maximum pain and suffering. Total and complete break, no transiitions and a leap off a cliff into economic oblivion.
Watch what happens to the OBR forecast if that happens. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *LCCCouple
over a year ago
Cambridge |
"The UK economy is "resilient" despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said.
In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit vote.
http://www.bbc.co.uk/news/uk-politics-38068358
So it's still growth then and not the recession predicted by the Remain campaign and the scaremongering from Cameron and Osborne that leaving the EU would trigger a DIY recession.
And faster growth than anywhere in the EU "
Romania has a growth rate of over 5% this year. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *oo hotCouple
over a year ago
North West |
" To date I do not see too many FTSE companies complaining . "
You are quite correct the rich and wealthy will not complain when their overseas earnings are declared in London and the £GBP is worth less. It means they are suddenly 15%-20% better off without having to increase productivity, improve efficiency or sell more. Just like magic. Brilliant for the FTSE Companies - none of whom have profiles here, none of whom any of us are likely to meet down thye pub and none of whom have lives that we could even hope to imagine.
Meanwhile in the real world where 85% of the population live to a budget, there is at least 5% food inflattion coming down the tracks and due to ghit home Jan/Feb 2017. Good for them to suffer a bit though for the glory of the country eh??? |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *LCCCouple
over a year ago
Cambridge |
"The UK economy is "resilient" despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said.
In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit vote.
http://www.bbc.co.uk/news/uk-politics-38068358
So it's still growth then and not the recession predicted by the Remain campaign and the scaremongering from Cameron and Osborne that leaving the EU would trigger a DIY recession.
And faster growth than anywhere in the EU
Romania has a growth rate of over 5% this year."
Spains is 3.2% this year. |
Reply privately, Reply in forum +quote
or View forums list | |
" To date I do not see too many FTSE companies complaining .
You are quite correct the rich and wealthy will not complain when their overseas earnings are declared in London and the £GBP is worth less. It means they are suddenly 15%-20% better off without having to increase productivity, improve efficiency or sell more. Just like magic. Brilliant for the FTSE Companies - none of whom have profiles here, none of whom any of us are likely to meet down thye pub and none of whom have lives that we could even hope to imagine.
Meanwhile in the real world where 85% of the population live to a budget, there is at least 5% food inflattion coming down the tracks and due to ghit home Jan/Feb 2017. Good for them to suffer a bit though for the glory of the country eh???"
The reality is that many quoted FTSE companies employ a significant number of people and it is in our interests that they perform well. Our pensions are also dependent on them . Not all FTSE companies are exporters .
All these FTSE conpanies are in the real world .
I do not see many private companies complaining about Brexit
Like it or not the FTSE is a live real time indicator of Financial Performance .
If the scenario was as grim as some are trying to suggest the stock exchange would have tanked.
|
Reply privately, Reply in forum +quote
or View forums list | |
|
By *abioMan
over a year ago
Newcastle and Gateshead |
"The UK economy is "resilient" despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said.
In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit vote.
http://www.bbc.co.uk/news/uk-politics-38068358
So it's still growth then and not the recession predicted by the Remain campaign and the scaremongering from Cameron and Osborne that leaving the EU would trigger a DIY recession. "
well actually..... not quite my old sport....
it may be growth..... and no one ever said there wouldn't be any growth, but that growth may slow down...and by a lot!
well that "growth" has been reassessed since the "spring budget... and that growth has now been predicted to regressed by 2.4% over the next 4 year period....
so if you are happy to accept one side of the figures, then you have to admit on the other side that growth will have slowed due to brexit......
i'll hang up and listen....... |
Reply privately, Reply in forum +quote
or View forums list | |
"The UK economy is "resilient" despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said.
In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit vote.
http://www.bbc.co.uk/news/uk-politics-38068358
So it's still growth then and not the recession predicted by the Remain campaign and the scaremongering from Cameron and Osborne that leaving the EU would trigger a DIY recession.
And faster growth than anywhere in the EU
Romania has a growth rate of over 5% this year."
Wow, just shows how lucrative begging and porn really are |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *andS66Couple
over a year ago
Derby |
"The UK economy is "resilient" despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said.
In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit vote.
http://www.bbc.co.uk/news/uk-politics-38068358
So it's still growth then and not the recession predicted by the Remain campaign and the scaremongering from Cameron and Osborne that leaving the EU would trigger a DIY recession.
And faster growth than anywhere in the EU
Romania has a growth rate of over 5% this year."
And a minimum wage of about £150 per month. Good luck with the move... |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *LCCCouple
over a year ago
Cambridge |
"The UK economy is "resilient" despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said.
In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit vote.
http://www.bbc.co.uk/news/uk-politics-38068358
So it's still growth then and not the recession predicted by the Remain campaign and the scaremongering from Cameron and Osborne that leaving the EU would trigger a DIY recession.
And faster growth than anywhere in the EU
Romania has a growth rate of over 5% this year.
Wow, just shows how lucrative begging and porn really are "
That's quite a xenophobic comment. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *LCCCouple
over a year ago
Cambridge |
"The UK economy is "resilient" despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said.
In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit vote.
http://www.bbc.co.uk/news/uk-politics-38068358
So it's still growth then and not the recession predicted by the Remain campaign and the scaremongering from Cameron and Osborne that leaving the EU would trigger a DIY recession.
And faster growth than anywhere in the EU
Romania has a growth rate of over 5% this year.
And a minimum wage of about £150 per month. Good luck with the move..."
Sorry, but I'm not moving anywhere. I love my country and my community. Thats why I voted for exonomic certainty and growth. You voted to financially cripple this country and to strip millions of people of rights. |
Reply privately, Reply in forum +quote
or View forums list | |
"The UK economy is "resilient" despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said.
In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit vote.
http://www.bbc.co.uk/news/uk-politics-38068358
So it's still growth then and not the recession predicted by the Remain campaign and the scaremongering from Cameron and Osborne that leaving the EU would trigger a DIY recession.
And faster growth than anywhere in the EU
Romania has a growth rate of over 5% this year.
Wow, just shows how lucrative begging and porn really are
That's quite a xenophobic comment."
Not really, just pointing out there greatest contributions to the eu, that and a legion of pickpockets. |
Reply privately, Reply in forum +quote
or View forums list | |
I love the way Hammond is predicting out to 2020 and into the next parliament! - that is 4 yrs and beyond and they can't actually predict how the economy will really perform over the next 12 months!
They also keep putting off when they 'predict' we will have a surplus - no wonder no-one is listening to politicians any more.
|
Reply privately, Reply in forum +quote
or View forums list | |
|
By *LCCCouple
over a year ago
Cambridge |
"I love the way Hammond is predicting out to 2020 and into the next parliament! - that is 4 yrs and beyond and they can't actually predict how the economy will really perform over the next 12 months!
They also keep putting off when they 'predict' we will have a surplus - no wonder no-one is listening to politicians any more.
"
But these forecasts aren't from politicians, they are from the independent Office of Budgetary Responsibility. It was specifically created so that politicians wouldn't be able to interfere with their forecasts. So no one can accuse them of playing politics with the figures, you know, like you just did. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *LCCCouple
over a year ago
Cambridge |
"The UK economy is "resilient" despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said.
In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit vote.
http://www.bbc.co.uk/news/uk-politics-38068358
So it's still growth then and not the recession predicted by the Remain campaign and the scaremongering from Cameron and Osborne that leaving the EU would trigger a DIY recession.
And faster growth than anywhere in the EU
Romania has a growth rate of over 5% this year.
Wow, just shows how lucrative begging and porn really are
That's quite a xenophobic comment.
Not really, just pointing out there greatest contributions to the eu, that and a legion of pickpockets. "
That is very xenophobic. |
Reply privately, Reply in forum +quote
or View forums list | |
"The UK economy is "resilient" despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said.
In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit vote.
http://www.bbc.co.uk/news/uk-politics-38068358
So it's still growth then and not the recession predicted by the Remain campaign and the scaremongering from Cameron and Osborne that leaving the EU would trigger a DIY recession.
And faster growth than anywhere in the EU
Romania has a growth rate of over 5% this year.
Wow, just shows how lucrative begging and porn really are
That's quite a xenophobic comment.
Not really, just pointing out there greatest contributions to the eu, that and a legion of pickpockets.
That is very xenophobic. "
Again, not really as i don't have a phobia of them |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *andS66Couple
over a year ago
Derby |
"The UK economy is "resilient" despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said.
In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit vote.
http://www.bbc.co.uk/news/uk-politics-38068358
So it's still growth then and not the recession predicted by the Remain campaign and the scaremongering from Cameron and Osborne that leaving the EU would trigger a DIY recession.
And faster growth than anywhere in the EU
Romania has a growth rate of over 5% this year.
And a minimum wage of about £150 per month. Good luck with the move...
Sorry, but I'm not moving anywhere. I love my country and my community. Thats why I voted for exonomic certainty and growth. You voted to financially cripple this country and to strip millions of people of rights."
And what evidence do you have of that? What facts? |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *LCCCouple
over a year ago
Cambridge |
"The UK economy is "resilient" despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said.
In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit vote.
http://www.bbc.co.uk/news/uk-politics-38068358
So it's still growth then and not the recession predicted by the Remain campaign and the scaremongering from Cameron and Osborne that leaving the EU would trigger a DIY recession.
And faster growth than anywhere in the EU
Romania has a growth rate of over 5% this year.
And a minimum wage of about £150 per month. Good luck with the move...
Sorry, but I'm not moving anywhere. I love my country and my community. Thats why I voted for exonomic certainty and growth. You voted to financially cripple this country and to strip millions of people of rights.
And what evidence do you have of that? What facts?"
Of what? |
Reply privately, Reply in forum +quote
or View forums list | |
"
I do not see many private companies complaining about Brexit
"
Businesses like to project an image of confidence and success. They're not very likely to start saying 'listen, we're in big trouble with this' even if they really think it. |
Reply privately, Reply in forum +quote
or View forums list | |
Phil could have saved himself the risk of dvt by just saying "it was a bit fucked before and now it's a bit fucked even more and it's gonna get even more fucked...but hey fingers crossed can't last forever can it?, be lucky this time next millennium we'll all be millionaires". |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *andS66Couple
over a year ago
Derby |
"The UK economy is "resilient" despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said.
In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit vote.
http://www.bbc.co.uk/news/uk-politics-38068358
So it's still growth then and not the recession predicted by the Remain campaign and the scaremongering from Cameron and Osborne that leaving the EU would trigger a DIY recession.
And faster growth than anywhere in the EU
Romania has a growth rate of over 5% this year.
And a minimum wage of about £150 per month. Good luck with the move...
Sorry, but I'm not moving anywhere. I love my country and my community. Thats why I voted for exonomic certainty and growth. You voted to financially cripple this country and to strip millions of people of rights.
And what evidence do you have of that? What facts?
Of what? "
That a Brexit vote will financially cripple the country and strip millions of people of their rights.... |
Reply privately, Reply in forum +quote
or View forums list | |
"The UK economy is "resilient" despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said.
In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit vote.
http://www.bbc.co.uk/news/uk-politics-38068358
So it's still growth then and not the recession predicted by the Remain campaign and the scaremongering from Cameron and Osborne that leaving the EU would trigger a DIY recession.
And faster growth than anywhere in the EU
Romania has a growth rate of over 5% this year.
And a minimum wage of about £150 per month. Good luck with the move...
Sorry, but I'm not moving anywhere. I love my country and my community. Thats why I voted for exonomic certainty and growth. You voted to financially cripple this country and to strip millions of people of rights.
And what evidence do you have of that? What facts?
Of what?
That a Brexit vote will financially cripple the country and strip millions of people of their rights...."
One good thing . The office for budget responsibility have a history of getting their forecasts wrong . Just ignore the £60 billion which they blame on Brexit .
The economy is in good shape and the stock exchange is doing well.
If the predictions were of concern to anyone , the stock exchange would have tanked.
It is a live real time indicator of Financial Performance and businness confidence .
|
Reply privately, Reply in forum +quote
or View forums list | |
"The UK economy is "resilient" despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said.
In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit vote.
http://www.bbc.co.uk/news/uk-politics-38068358
So it's still growth then and not the recession predicted by the Remain campaign and the scaremongering from Cameron and Osborne that leaving the EU would trigger a DIY recession.
And faster growth than anywhere in the EU
Romania has a growth rate of over 5% this year.
And a minimum wage of about £150 per month. Good luck with the move...
Sorry, but I'm not moving anywhere. I love my country and my community. Thats why I voted for exonomic certainty and growth. You voted to financially cripple this country and to strip millions of people of rights.
And what evidence do you have of that? What facts?
Of what?
That a Brexit vote will financially cripple the country and strip millions of people of their rights.... One good thing . The office for budget responsibility have a history of getting their forecasts wrong . Just ignore the £60 billion which they blame on Brexit .
The economy is in good shape and the stock exchange is doing well.
If the predictions were of concern to anyone , the stock exchange would have tanked.
It is a live real time indicator of Financial Performance and businness confidence .
"
And Robert Chote who is in charge of the OBR is a lib dem sympathiser . |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *LCCCouple
over a year ago
Cambridge |
"The UK economy is "resilient" despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said.
In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit vote.
http://www.bbc.co.uk/news/uk-politics-38068358
So it's still growth then and not the recession predicted by the Remain campaign and the scaremongering from Cameron and Osborne that leaving the EU would trigger a DIY recession.
And faster growth than anywhere in the EU
Romania has a growth rate of over 5% this year.
And a minimum wage of about £150 per month. Good luck with the move...
Sorry, but I'm not moving anywhere. I love my country and my community. Thats why I voted for exonomic certainty and growth. You voted to financially cripple this country and to strip millions of people of rights.
And what evidence do you have of that? What facts?
Of what?
That a Brexit vote will financially cripple the country and strip millions of people of their rights...."
 are you serious? I guess you missed the Autumn statement yesterday. Extra borrowing, lower growth, lower investment and combined fiscal and monetary policy measures costs £192bn as a result of Brexit. That's 15 years worth of contributions to the EU and we haven't even started to leave yet!
And you weren't aware of stripping British citizens of any rights? You were all for democracy, but you have stripped British citizens of their right to engage in European democracy, you have stripped us of our right to European citizenship, you have stripped us of our rights to work in other EU countries etc. |
Reply privately, Reply in forum +quote
or View forums list | |
"The UK economy is "resilient" despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said.
In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit vote.
http://www.bbc.co.uk/news/uk-politics-38068358
So it's still growth then and not the recession predicted by the Remain campaign and the scaremongering from Cameron and Osborne that leaving the EU would trigger a DIY recession.
And faster growth than anywhere in the EU
Romania has a growth rate of over 5% this year.
And a minimum wage of about £150 per month. Good luck with the move...
Sorry, but I'm not moving anywhere. I love my country and my community. Thats why I voted for exonomic certainty and growth. You voted to financially cripple this country and to strip millions of people of rights.
And what evidence do you have of that? What facts?
Of what?
That a Brexit vote will financially cripple the country and strip millions of people of their rights....
are you serious? I guess you missed the Autumn statement yesterday. Extra borrowing, lower growth, lower investment and combined fiscal and monetary policy measures costs £192bn as a result of Brexit. That's 15 years worth of contributions to the EU and we haven't even started to leave yet!
And you weren't aware of stripping British citizens of any rights? You were all for democracy, but you have stripped British citizens of their right to engage in European democracy, you have stripped us of our right to European citizenship, you have stripped us of our rights to work in other EU countries etc."
Complete and utter Nonsense. Brits lived and worked in Europe before we joined the EU and they will still be able to do so after we leave the EU. You never heard of a visa system? |
Reply privately, Reply in forum +quote
or View forums list | |
"The UK economy is "resilient" despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said.
In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit vote.
http://www.bbc.co.uk/news/uk-politics-38068358
So it's still growth then and not the recession predicted by the Remain campaign and the scaremongering from Cameron and Osborne that leaving the EU would trigger a DIY recession.
well actually..... not quite my old sport....
it may be growth..... and no one ever said there wouldn't be any growth, but that growth may slow down...and by a lot!
well that "growth" has been reassessed since the "spring budget... and that growth has now been predicted to regressed by 2.4% over the next 4 year period....
so if you are happy to accept one side of the figures, then you have to admit on the other side that growth will have slowed due to brexit......
i'll hang up and listen....... "
Slowed growth is still growth isn't it. I'm not sure what point you are trying to make? Even our slowed growth will still be higher than the EU's best growth figure. Where is the recession predicted by the remain campaign? It hasn't happened and it's not going to happen |
Reply privately, Reply in forum +quote
or View forums list | |
‘Philip Hammond conceded that Brexit will blow a £59bn black hole in the public finances over the next five years, as he outlined plans to boost investment in infrastructure and housing to equip the UK economy for life outside the EU.
In his first fiscal statement, the chancellor, who had supported remain, sought to strike a cautiously upbeat tone about the country’s prospects, saying the economy had “confounded commentators at home and abroad with its strength and its resilience” since the referendum result last June.
But the first official projections conducted after the vote of the likely impact of leaving the EU pointed to significantly weaker growth after Brexit.
The Office for Budget Responsibility (OBR) announced that there would be a cumulative £122bn of extra borrowing over the next five years, with £59bn of that as a direct result of Brexit. Other factors included weaker-than-expected tax revenues, and policy changes, including Hammond’s decision to spend more on infrastructure.’
However it could be much worse than they are predicting.
The Office for Budget Responsibility, who have a 'duty ... to examine and report on the sustainability of the public finances' including 5 year forecasts for the UK economy and public finances and an assessment on whether the Government is likely to acheive it's fiscal targets, in its Economic and Fiscal Outlook Report say this
'During the forecasting period, the BRC held around 55 scrutiny and challenge meetings with officials from other departments, in addition to numerous further meetings at staff level. We have been provided with all the forecast information and analysis that we requested. However, at each forecast we also ask the Treasury to detail any newly created contingent liabilities that might pose a risk to our forecast. On this occasion we asked specifically whether any contingent liabilities had been created in respect to assurances provided to Nissan and the Treasury declined to say.'
If there were no assurances, why wouldn't the Treasury just say that?
|
Reply privately, Reply in forum +quote
or View forums list | |
|
By *oi_LucyCouple
over a year ago
Barbados |
"
Complete and utter Nonsense. Brits lived and worked in Europe before we joined the EU and they will still be able to do so after we leave the EU. You never heard of a visa system?"
Oh cool! So, it is my right as a British citizen for the EU to give me a visa to work in an EU country? I didn't realise that. I thought they might shun skilled workers from other European countries coming and working in their country.... oh no wait... that's OUR country doing that. My mistake.
-Matt |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *obka3Couple
over a year ago
bournemouth |
"Real term wages in 2021 will be lower than they were in 2008.
Thanks Brexiters! "
So we know what wages and inflation will be in five years time ? Do they have the lottery numbers for next week ?
Oh and will these experts be able to forecast the next banking crash as they did the last one ? Oh hang on ....... |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *andS66Couple
over a year ago
Derby |
"The UK economy is "resilient" despite forecasts that government finances will be £122bn worse off than previously expected by 2020, the chancellor said.
In his Autumn Statement Philip Hammond said growth predictions had been cut as a result of the Brexit vote.
http://www.bbc.co.uk/news/uk-politics-38068358
So it's still growth then and not the recession predicted by the Remain campaign and the scaremongering from Cameron and Osborne that leaving the EU would trigger a DIY recession.
And faster growth than anywhere in the EU
Romania has a growth rate of over 5% this year.
And a minimum wage of about £150 per month. Good luck with the move...
Sorry, but I'm not moving anywhere. I love my country and my community. Thats why I voted for exonomic certainty and growth. You voted to financially cripple this country and to strip millions of people of rights.
And what evidence do you have of that? What facts?
Of what?
That a Brexit vote will financially cripple the country and strip millions of people of their rights....
are you serious? I guess you missed the Autumn statement yesterday. Extra borrowing, lower growth, lower investment and combined fiscal and monetary policy measures costs £192bn as a result of Brexit. That's 15 years worth of contributions to the EU and we haven't even started to leave yet!
And you weren't aware of stripping British citizens of any rights? You were all for democracy, but you have stripped British citizens of their right to engage in European democracy, you have stripped us of our right to European citizenship, you have stripped us of our rights to work in other EU countries etc."
First off, the autumn statement.... based on facts, or forecasts? The extra borrowing forecast 'due to brexit' is 59 Billion.... total borrowing is more than double that....
So, borrowing not due to Brexit is more than that said to be due to Brexit.
And the 59 Billion pales into insignificance compared to the 1.9trillion debt.
Money for scientific R&D is more than twice what we would lose from the EU, worst case.
With regard to the 70 Billion QE, the BoE, one of your experts, forecasts that this will provide a 300 Billion boost to the economy over the next decade or so.
But what about the 360 Billion QE after 2008?
And further, if labour get in, 500 Billion will be borrowed.... this was being talked about by labour before Brexit.
As for citizenship rights? Are you not satisfied with being British?
Engaging in European democracy? You complain that half the country are too thick and stupid to properly engage in British democracy!
And as for having the right to work in other countries, have you not heard of work visas? What is the problem with that? People have been going to Europe to work since before we joined the EU.... my father worked in France regularly from the end of WW2 up to when he died.... before we joined the EU. |
Reply privately, Reply in forum +quote
or View forums list | |
"I love the way Hammond is predicting out to 2020 and into the next parliament! - that is 4 yrs and beyond and they can't actually predict how the economy will really perform over the next 12 months!
They also keep putting off when they 'predict' we will have a surplus - no wonder no-one is listening to politicians any more.
But these forecasts aren't from politicians, they are from the independent Office of Budgetary Responsibility. It was specifically created so that politicians wouldn't be able to interfere with their forecasts. So no one can accuse them of playing politics with the figures, you know, like you just did. "
Sorry guys but it is still a prediction of a pretty chaotic system - it is actually little better than a slightly educated guess - my point was that politicians repeat it like it was a certainty without acknowledging that it is highly uncertain, especially beyond timescales of around a year. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *LCCCouple
over a year ago
Cambridge |
"I love the way Hammond is predicting out to 2020 and into the next parliament! - that is 4 yrs and beyond and they can't actually predict how the economy will really perform over the next 12 months!
They also keep putting off when they 'predict' we will have a surplus - no wonder no-one is listening to politicians any more.
But these forecasts aren't from politicians, they are from the independent Office of Budgetary Responsibility. It was specifically created so that politicians wouldn't be able to interfere with their forecasts. So no one can accuse them of playing politics with the figures, you know, like you just did.
Sorry guys but it is still a prediction of a pretty chaotic system - it is actually little better than a slightly educated guess - my point was that politicians repeat it like it was a certainty without acknowledging that it is highly uncertain, especially beyond timescales of around a year."
The OBR and the Chancellor did indeed acknowledge the uncertainty.
Would I be right to guess that you voted to Leave the EU? Did you have these same concerns around the OBR figures in March, or do you just not like them now that you can see what a terrible choice voting to Leave was? |
Reply privately, Reply in forum +quote
or View forums list | |
"Real term wages in 2021 will be lower than they were in 2008.
Thanks Brexiters! . Have any of you pair got a job
I'll leave you to speculate on that.  . That,s a no then  "
Real term wages have been lower than 2008 for the past 7 years one of the main reasons zero hours contracts. |
Reply privately, Reply in forum +quote
or View forums list | |
|
By *LCCCouple
over a year ago
Cambridge |
"Real term wages in 2021 will be lower than they were in 2008.
Thanks Brexiters! . Have any of you pair got a job
I'll leave you to speculate on that. . That,s a no then
Real term wages have been lower than 2008 for the past 7 years one of the main reasons zero hours contracts."
Nothing to do with austerity then? |
Reply privately, Reply in forum +quote
or View forums list | |
» Add a new message to this topic
