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Old 07.07.2016, 14:04
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Re: The Brexit referendum thread: potential consequences for GB, EU and the Brits in

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Indeed, plus when exported articles contain imported raw materials then the impact of devaluation on export prices is reduced.
It depends on the nature of the exports. e.g. whether it contains imported materials, or materials that can be substituted by UK produced materials, or no materials at all (e.g. services).

All else being equal, it will push to favour UK suppliers and substitution of imports for local materials/production and boost the service economy.

Of course, it comes at a price since the earnings will not be as valuable when buying overseas products.
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