The Brexit referendum thread: potential consequences for GB, EU and the Brits in CH

	Quote:	fatmanfilms
	I have done OK out of it, as would anyone who invest in www.fundsmith.co.uk Interestingly the compound growth since inception is still higher in Euro than in GBP, so over 7 years the £ is still a clear winner despite BREXIT vote. Not as far as I can see, I re read what I wrote, perhaps you could explain further.

So given how the pound has dropped since the vote, you're actually telling us about how well it performed before the vote with the UK an unquestioned member of the EU

[fatmanfilms]

	Quote:
	So given how the pound has dropped since the vote, you're actually telling us about how well it performed before the vote with the UK an unquestioned member of the EU

The performance is hugely better than average performance since 2000, it's been a zombie economy supported by tax credits, housing benefits & HTB. HTB has allowed house builders to cripple their profits & prices rose by roughly the 5 year 'free' money.

I don't approve of interest rates below inflation ever, they have been below inflation for 10 years. The economy will only recover once interest rates recover, plenty of old people won't spend as they have virtually zero interest on their capital.

[marton]

Eurozone outpaces UK with fastest growth since 2011!

• Eurozone has grown by 2.5% over the last year
• UK has only grown by 1.5% in the same time

Source

[fatmanfilms]

	Quote:	marton
	Eurozone outpaces UK with fastest growth since 2011! Eurozone has grown by 2.5% over the last year UK has only grown by 1.5% in the same time Source

Unemployment rates over the same period please, if you have 25% unemployment then it's easy to show huge growth.

Ah remember- unemployment is great for shareholders - apparently

[marton]

	Quote:	fatmanfilms
	Unemployment rates over the same period please, if you have 25% unemployment then it's easy to show huge growth.

If you had clicked on my link then you would have read "Eurozone jobless rate has fallen to lowest since 2009, jobless rate below 9% ".

The UK jobless rate is 4.4%; whether it is calculated the same way as the EU I do not know.

[fatmanfilms]

	Quote:	marton
	If you had clicked on my link then you would have read "Eurozone jobless rate has fallen to lowest since 2009, jobless rate below 9% ". The UK jobless rate is 4.4%; whether it is calculated the same way as the EU I do not know.

Looks like the EU has a long way to go to catch up with the UK, 4.4% to 9% is more than double.

[fatmanfilms]

	Quote:
	Ah remember- unemployment is great for shareholders - apparently

No Odile it's called productivity, an employee should make a huge amount of money for their employer, if they only earn their salary why would you keep the business going?

	Quote:	fatmanfilms
	Looks like the EU has a long way to go to catch up with the UK, 4.4% to 9% is more than double.

3.7% in Germany....

[fatmanfilms]

	Quote:
	3.7% in Germany....

If the EU was Germany it would be a very different thing, yes Germany is slightly ahead of the UK, interesting to see if the ranking is reversed 2 years as the UK buys a huge no go German cars.

[amogles]

	Quote:	Urs Max
	Are you of the opinion that the German stock market is exclusively driven by Brexit?

That, and he trading of irony supplements.

Apparently.

[marton]

Today's news
Brexit: Whitehall headcount to balloon by 8,000 workers

David Davis tells cabinet of ‘significant acceleration’ to get UK ready, including creation of up to 5,000 extra jobs in HMRC

Source

What was that about how much money UK would save by leaving the EU

Remember the fuss last year after the leak of a report written by Deloitte, the management consultants

	Quote:
	Brexit could result in an increased public sector headcount in “the 10,000 to 30,000 range”.

Source

Now we are already up to 8,000 extra and the story is by no means over

[Blueangel]

	Quote:	marton
	Today's news Brexit: Whitehall headcount to balloon by 8,000 workers David Davis tells cabinet of ‘significant acceleration’ to get UK ready, including creation of up to 5,000 extra jobs in HMRC

Less than a year ago, there were leaked memos claiming a need to recruit up to 30,000 extra civil servants.

http://www.telegraph.co.uk/news/2016...0000-extra-st/

https://www.ft.com/content/f3547ad2-...d-76378e4fef24

[Urs Max]

	Quote:	amogles
	That, and he trading of irony supplements. Apparently.

Perhaps try barking up the appropriate tree next time.

[marton]

	Quote:	Blueangel
	Less than a year ago, there were leaked memos claiming a need to recruit up to 30,000 extra civil servants. http://www.telegraph.co.uk/news/2016...0000-extra-st/ https://www.ft.com/content/f3547ad2-...d-76378e4fef24

The Bank of England has warned that 10,000 jobs could leave the City on “day one” after the UK leaves the EU.

Sam Woods, a deputy governor of the Bank, also admitted that forecasts of 75,000 job losses over the long-term were “plausible” at an appearance before peers on the Lords EU financial affairs sub-committee on Wednesday.

Woods runs the regulatory arm of the Bank and based his estimate of 10,000 jobs on responses he received from 400 banks and financial firms required to provide him with their contingency plans for a hard Brexit.

@Blueangel

Not sure what you mean.

There was indeed a forecast of 30,000 extra civil servants needed to support Brexit.
So far the UK Govt. has admitted to an extra 8,000; plus/minus.

How many more admissions about extra civil servants do you believe will be slipped out before March 2019?
There are many areas not yet addressed; Civil Aviation, Nuclear, &&&

[fatmanfilms]

	Quote:	marton
	The Bank of England has warned that 10,000 jobs could leave the City on “day one” after the UK leaves the EU. Sam Woods, a deputy governor of the Bank, also admitted that forecasts of 75,000 job losses over the long-term were “plausible” at an appearance before peers on the Lords EU financial affairs sub-committee on Wednesday. Woods runs the regulatory arm of the Bank and based his estimate of 10,000 jobs on responses he received from 400 banks and financial firms required to provide him with their contingency plans for a hard Brexit. @Blueangel Not sure what you mean. There was indeed a forecast of 30,000 extra civil servants needed to support Brexit. So far the UK Govt. has admitted to an extra 8,000; plus/minus. How many more admissions about extra civil servants do you believe will be slipped out before March 2019? There are many areas not yet addressed; Civil Aviation, Nuclear, &&&

Surely 90% of banking will be done by AI in 15 years, no need to chase a dead market. It would suit the UK if 100% of banking left, being the government seems to have to underwrite there catastrophic losses & huge bail outs to date. It's not as if the banking system is stable or viable 10 years on.

From SkyNews: The Government has lost an opposition vote calling on it to publish impact assessments of Brexit on more than 50 key industries.

There was no official division as only Labour MPs backed it and no Conservative MPs objected.


Speaker John Bercow said he "expects" the Government to respect the decision - despite confusion over whether the result is binding.

Opposition Day debate motions are traditionally non-binding, but Labour had tabled a special "Humble Address" motion.

It is a centuries-old and infrequently used procedure that asks the Queen directly to request documents from the Government.

Mr Bercow had only advised: "Motions of this kind have in the past been seen as effective or binding."

He warned ministers could be in "contempt" of Parliament if they ignore the call.



Amazingly and very worryingly- absolutely nothing, zilch, zero - on BBC News at 10 tonight. The power of the GVT re gagging the BBC borders on dictatorship. It was well covered by ITV news.

[fatmanfilms]

	Quote:
	Amazingly and very worryingly- absolutely nothing, zilch, zero - on BBC News at 10 tonight. The power of the GVT re gagging the BBC borders on dictatorship.

I really think your being paranoid, BBC employees are generally very left of centre, it'd never going to happen.

[marton]

	Quote:
	From SkyNews: The Government has lost an opposition vote calling on it to publish impact assessments of Brexit on more than 50 key industries. There was no official division as only Labour MPs backed it and no Conservative MPs objected. Speaker John Bercow said he "expects" the Government to respect the decision - despite confusion over whether the result is binding. Opposition Day debate motions are traditionally non-binding, but Labour had tabled a special "Humble Address" motion. It is a centuries-old and infrequently used procedure that asks the Queen directly to request documents from the Government. Mr Bercow had only advised: "Motions of this kind have in the past been seen as effective or binding." He warned ministers could be in "contempt" of Parliament if they ignore the call. Amazingly and very worryingly- absolutely nothing, zilch, zero - on BBC News at 10 tonight. The power of the GVT re gagging the BBC borders on dictatorship.

More on this here https://www.theguardian.com/politics...impact-studies

Edit; BBC did cover it here

Meanwhile Michael Fallon quits as defence secretary, saying his behaviour has 'fallen short'
Fallon has resigned as minister after three years in post, as friends suggest there may have been some ‘inappropriate flirtation’ recently.
Possibly first of many such UK MP resignations possibly proving UK ministers are better at falling on their swords than US Presidents accused of similar failings

It was NOT covered at all on the main BBC News at 10- which I watched from beginning to end - as I do every night

As fr Fallon, I get the feeling he was looking for any excuse to jump the rat infested ship.