The economic consequences of Brexit

[Fittster]

"Government borrowing rose by more than expected to £10.6bn in September, according to figures from the Office for National Statistics (ONS).

The figure was £1.3bn higher than the same month last year.

For the financial year to date between April and September, borrowing fell by £2.3bn to £45.5bn.

The monthly figure had been expected to shrink to £8.5bn and economists said it would set the tone for the Autumn Statement on 23 November."

[Borghetto]

davepoth said:

The real concern for the UK workers will be the German distribution hub. I dug a little more and there is no manufacturing carried out in the UK, so it would be very easy to get rid of any UK distribution workers.

Edited by davepoth on Friday 21st October 10:43

Although because Sterling has devalued and the flexibility of UK labour laws, maybe the UK distribution workers will prove to be better value.

[davepoth]

Borghetto said:

Although because Sterling has devalued and the flexibility of UK labour laws, maybe the UK distribution workers will prove to be better value.

Possibly. There's not a lot of value added though.

[RYH64E]

davepoth said:

Borghetto said:

Although because Sterling has devalued and the flexibility of UK labour laws, maybe the UK distribution workers will prove to be better value.

Possibly. There's not a lot of value added though.

What we need is some of those hard working, cheap, Eastern European warehouse workers...

[Borghetto]

RYH64E said:

What we need is some of those hard working, cheap, Eastern European warehouse workers...

I think we're keeping those, although if Sterling keeps weakening they may head eastwards.

[SilverSixer]

M&S Bacon Frazzles (50g) up 9p a pack this morning. They've been 86p for years, now 95p. And those are made in the UK.

Burp.

[barryrs]

RYH64E said:

What we need is some of those hard working, cheap, Eastern European warehouse workers...

Good idea, perhaps we should pay them child tax credits, working tax credits and housing benefit in order for them to earn minimum wage.

[barryrs]

SilverSixer said:

M&S Bacon Frazzles (50g) up 9p a pack this morning. They've been 86p for years, now 95p. And those are made in the UK.

Burp.

Should have known you do your food shop in M&S

[SilverSixer]

barryrs said:

SilverSixer said:

M&S Bacon Frazzles (50g) up 9p a pack this morning. They've been 86p for years, now 95p. And those are made in the UK.

Burp.

Should have known you do your food shop in M&S

Ah, I usually go to Lidl but there's an M&S petrol station next to my work - I treat myself on Fridays, having made my own sarnies the rest of the week.

[Jockman]

SilverSixer said:

M&S Bacon Frazzles (50g) up 9p a pack this morning. They've been 86p for years, now 95p. And those are made in the UK.

Burp.

You should have applied for an M&S credit card and secured the £25 voucher with your first purchase of frazzles. You would have also received an extra 500 points = £5.

That would have facilitated 31 days of FREE frazzles.

You cannot blame brexit for your ignorance.

[ATG]

BMRuss said:

///ajd said:

No comment on business moving to the EU? Thought not, if we just ignore it, we can convince ourselves its not happening.

The EU have been moving business away from the UK way before Brexit...next........

Next? Err, OK. I'm convinced.

Give a single example of the EU moving business away from the UK.

The UK attracted a hugely disproportionate amount of the foreign direct investment into the EU. We completely dominated EU financial services.

Did this seem unfair to some EU members? Of course. Did they succeed in making themselves more attractive than the UK to encourage job relocation? No, they didn't.

[alfie2244]

ATG said:

Give a single example of the EU moving business away from the UK.

Ford Transit - Turkey - any EU connection?

http://www.thesundaytimes.co.uk/sto/news/uk_news/N...

[Countdown]

Is Turkey in the EU?

[alfie2244]

Countdown said:

Is Turkey in the EU?

Not yet...but I was responding to the question asked.

[Digga]

Countdown said:

Is Turkey in the EU?

Read the article, or further into the case and you will see the EU involvement in this. It is very well documented.

[Countdown]

Digga said:

Read the article, or further into the case and you will see the EU involvement in this. It is very well documented.

I have read it and I may well have missed something. The loan to Ford is EU funded. It is not the EU forcing Ford to do something (ie move jobs away from the UK).

[jjlynn27]

alfie2244 said:

ATG said:

Give a single example of the EU moving business away from the UK.

Ford Transit - Turkey - any EU connection?

EU didn't move Ford Transit production to Turkey. The EIB gave Ford loan (E180m IIRC) to upgrade already existing factory in Turkey that was already producing same vans considerably cheaper. The same EIB that provided loans of E450m to Southampton factory in 2010. It would happen with or without loan. Even before the loan Turkish factory was producing 180,000 pa vans compared to 27000 in Southampton.

[don4l]

confused_buyer said:

There is something really, really weird about the Smiffys story. It appears to be a politically spun announcement and I bet there is more to it which meets the eye.

The statements about moving because of the £ value is bizarre. If they are exporting a lot and their labour costs are in £'s they must be making a mint at the moment.

I'm sure there are many companies making genuine contingency plans but this particular one stinks of something planned a while ago being used for political purposes.

The story is the the Independent. By definition it is leftie tosh generated to fool their ever dwindling, gullible, audience.

[Countdown]

don4l said:

The story is the the Independent. By definition it is leftie tosh generated to fool their ever dwindling, gullible, audience.

You know that medication is available for your condition, don't you?

[SunsetZed]

jjlynn27 said:

SunsetZed said:

Rubbish, that would depend on the tariffs and the impact that they had on their business amongst many other things.

For example if we leave the SM and there are no tariffs on cars can you explain to me why would Nissan care if we were in or out of the SM?

The same applies to many industries hence the interest in the Canada deal right now.

Cars industry is exceptionally poor example if you think that 'Canada deal' is the right one. In short, you'll need to prove that most components of the cars are actually made in Canada to benefit to the access to SM sans tariffs.

Another tiny issue is, while Canada deal doesn't include dreaded free movement of johny the foreigner, it also exclude services. You know, the part where the UK actually have trade surplus with EU, and something that UK is very very good at.

In other news; this week we are starting move of another two hi-tech companies from London to Berlin.

Apologies, as always the devil is in the detail and I can't claim to have followed either issue in detail. What I was trying to do was to highlight the fact that the single market itself is rarely, if ever, the issue for business, associated costs are.

I was not suggesting Canada has the perfect deal for us or that there won't be tariffs on cars!