Brexit - real world implications

Brexit - real world implications

Author
Discussion

FredClogs

14,041 posts

160 months

Tuesday 28th June 2016
quotequote all
A friend of mine is half way through building a house, they're nearing retirement and it's their dream house last big project type thing, they're in to deep to pull out but for one reason or another they're a few months behnd schedule, missed their build slot at the Finnish factory (yes it's one of those fancy scandi eco houses that comes on a wagon) so they've not made their final payment yet although they were hoping they might have. Payment is obviously in Euro, as of today they were about £6k down due to the fall in the pound. Yes it may recover in a fortnight or two but right now with a parent dying of cancer and living out of a caravan it's a stress they could have done without.

Real lives, real people. Good people who've worked hard all their lives and expected the government to at least have considered and planned for this eventuality.

kurt535

3,559 posts

116 months

Tuesday 28th June 2016
quotequote all
I pulled exchanging on a house today. Price action is a worry and also putting money into something which maybe difficult to retrieve in the medium term.

I was also interviewed for a voluntary financial trustee position in a museum and had the interviewer somehow get onto subject that her husband had been put on notice over the weekend that the company is off back to mainland europe, due to vote.

pal's gf works in treasury at soc gen: next stop back to paris for them...

kurt535

3,559 posts

116 months

Tuesday 28th June 2016
quotequote all
ah, also forgot siemens made bad announcement today further wind farm investment after new centre in Hull looks to be on hold. frown

i had to laugh at this though as the wind farm businesses get set up in some really tough places - like gt yarmouth, lowestoft, hull, barrow...all the places that voted out.

Tuna

19,930 posts

283 months

Tuesday 28th June 2016
quotequote all
FredClogs said:
A friend of mine is half way through building a house, they're nearing retirement and it's their dream house last big project type thing, they're in to deep to pull out but for one reason or another they're a few months behnd schedule, missed their build slot at the Finnish factory (yes it's one of those fancy scandi eco houses that comes on a wagon) so they've not made their final payment yet although they were hoping they might have. Payment is obviously in Euro, as of today they were about £6k down due to the fall in the pound. Yes it may recover in a fortnight or two but right now with a parent dying of cancer and living out of a caravan it's a stress they could have done without.

Real lives, real people. Good people who've worked hard all their lives and expected the government to at least have considered and planned for this eventuality.
I don't wish to be rude, but knowing that a potentially chaotic event was going to occur that would change the exchange rate, did it not occur to them to pay one week in advance, or to at least transfer to a Euro account? I do feel for them, having gone through a similar process, but you have to plan for contingencies throughout any build project and be prepared to dip into emergency funds.

And I'm not very clear how a government plans for the uncertainty leading up to such a negotiation. You can't make it go away and they *Very clearly* warned people that the short term effects could be bad.

Camoradi

4,285 posts

255 months

Tuesday 28th June 2016
quotequote all
I got a reply to my email to the council asking when they are going to resurface or fix some of the potholes in our road, and sort out the drain cover which has collapsed directly outside my house. They are not going to be done this year after all.

Same as every year since 2004 when we moved here.

Blayney

2,948 posts

185 months

Tuesday 28th June 2016
quotequote all
Esseesse said:
No change to report here.

I heard today that Tata is considering keeping it's steel facilities in the UK following the devaluation in the pound. http://www.hindustantimes.com/business-newspaper/t...
Tata just announced 300 million euro investment too. Into the Netherlands.

As for me no change at the moment. Work for a massive Japanese electronics company. Small rumours that a few recent deals may go to Hungary but it's just factory talk so far as I can tell.

Mrs promotion after a big reshuffle where everyone had go reapply for jobs is on hold atm. Works for a university.

LasseV

1,754 posts

132 months

Tuesday 28th June 2016
quotequote all
Well, England did loose at least one tourist because of brexit. I was planning a road trip to england but now i think i just go straight to Scotland. I just doesn't respect you guys as much as i used to. One part is brexit but bigger part is those Leavers and their messages/contribution in PH and elsewhere. They were just so arrogant, disrespectful and almost hostile towards other EU-nations. They are like EU doesn't do anything right and we just live with your money.They just doesn't know how these things works. For example economical sanctions against Russia did hit hardest to Finland. We didn't complain because it is best for Europe that Russia know it's limits. But It sucks because 30 percent of our export did go to Russia so our economical situation is very tight at the moment. And now Russia wins after all, lines are broken and Eu is weaker. So i have one thing to say for those arrogant/disrespectful people: fk you!

It is a shame really. I liked England a lot. England feels so introverted now...

BTW, i want my money back from Cornwall. biggrin

Edited by LasseV on Tuesday 28th June 23:07

gothatway

5,783 posts

169 months

Tuesday 28th June 2016
quotequote all
I work p/t for a small company which imports most of its product from the US, adds value and then sells most of it back to the US. Looking good, thanks.

ashleyman

6,962 posts

98 months

Tuesday 28th June 2016
quotequote all
I mentioned it in a previous thread about implications before the vote and nobody believed me. Anyway, a friend is the no.2 in charge of a major high street bank. He was telling me that if we voted Leave then he wold have 2 years to up the whole bank operation and move it to either Europe or the USA.

He was saying it meant hundreds if not thousands of people either needing to move to a different country or take redundancy. Look at the news the day after the vote and there it is, in the press release - bank moving out of the UK!

For me, not much has changed yet. I've got one bid out on a job right now that I haven't heard back about but I think it's pretty safe. I should know more about that soon. If the companies I work with start moving to mainland Europe I can see a lot of my work drying up and the potential of needing to move away to follow the companies and work but that’s not being considered yet. The wife works in a school for all the naughty kids and its business as usual. They're still hiring staff and the idiot receptionist man is still moaning about the food order being too expensive.

FredClogs

14,041 posts

160 months

Tuesday 28th June 2016
quotequote all
Tuna said:
FredClogs said:
A friend of mine is half way through building a house, they're nearing retirement and it's their dream house last big project type thing, they're in to deep to pull out but for one reason or another they're a few months behnd schedule, missed their build slot at the Finnish factory (yes it's one of those fancy scandi eco houses that comes on a wagon) so they've not made their final payment yet although they were hoping they might have. Payment is obviously in Euro, as of today they were about £6k down due to the fall in the pound. Yes it may recover in a fortnight or two but right now with a parent dying of cancer and living out of a caravan it's a stress they could have done without.

Real lives, real people. Good people who've worked hard all their lives and expected the government to at least have considered and planned for this eventuality.
I don't wish to be rude, but knowing that a potentially chaotic event was going to occur that would change the exchange rate, did it not occur to them to pay one week in advance, or to at least transfer to a Euro account? I do feel for them, having gone through a similar process, but you have to plan for contingencies throughout any build project and be prepared to dip into emergency funds.

And I'm not very clear how a government plans for the uncertainty leading up to such a negotiation. You can't make it go away and they *Very clearly* warned people that the short term effects could be bad.
The payments are staged and the big payment is due when the house build starts at the factory, they wouldn't accept it early, I suppose for genuine reasons, he's sanquine about the whole thing and he's got it covered but he's also an IT bod not Gordon fking Gecko, most people don't have Euro accounts and presumably it's something that takes time to set up what with the risk of money laundering etc.

I'm not whinging on his behalf and just giving an example that's close to me of real life impacts of the last 5 days, I just think the government of the day could have done, be doing more to provide leadership and reasurance.

Another one is two of my cousins makng applications to take up their right to Irish dual citizenship as a hedge against any chance that UK nationals might find it harder to go and work and live in Europe, but they're young, attractive and liberal and possibly not what the PH massive would consider worthy of camaraderie.

kurt535

3,559 posts

116 months

Tuesday 28th June 2016
quotequote all
LasseV said:
Well, England did loose at least one tourist because of brexit. I'm planning a road trip to england but now i think i just go straight to Scotland. I just doesn't respect you guys as much as i used to. One part is brexit but bigger part is those Leavers and their messages/contribution in PH and elsewhere. They were just so arrogant, disrespectful and almost hostile towards other EU-nations. They are like EU doesn't do anything right and we just live with your money. They just doesn't know how these things works. For example economical sanctions against Russia did hit hardest to Finland. We didn't complain because it is best for Europe that Russia know it's limits. But It sucks because 30 percent of our export did go to Russia so our economical situation is very tight at the moment. And now Russia wins after all, lines are broken and Eu is weaker. So i have one thing to say for those arrogant/disrespectful people: fk you!

It is a shame really. I liked England a lot.

BTW, i want my money back from Cornwall. biggrin
My gf loves Finland. Sounds about time to come over and show some solidarity.

vonuber

17,868 posts

164 months

Tuesday 28th June 2016
quotequote all
Oh, and it's very likely a pay freeze as a minimum this year if we still actually have a job.

kurt535

3,559 posts

116 months

Tuesday 28th June 2016
quotequote all
FredClogs said:
Tuna said:
FredClogs said:
A friend of mine is half way through building a house, they're nearing retirement and it's their dream house last big project type thing, they're in to deep to pull out but for one reason or another they're a few months behnd schedule, missed their build slot at the Finnish factory (yes it's one of those fancy scandi eco houses that comes on a wagon) so they've not made their final payment yet although they were hoping they might have. Payment is obviously in Euro, as of today they were about £6k down due to the fall in the pound. Yes it may recover in a fortnight or two but right now with a parent dying of cancer and living out of a caravan it's a stress they could have done without.

Real lives, real people. Good people who've worked hard all their lives and expected the government to at least have considered and planned for this eventuality.
I don't wish to be rude, but knowing that a potentially chaotic event was going to occur that would change the exchange rate, did it not occur to them to pay one week in advance, or to at least transfer to a Euro account? I do feel for them, having gone through a similar process, but you have to plan for contingencies throughout any build project and be prepared to dip into emergency funds.

And I'm not very clear how a government plans for the uncertainty leading up to such a negotiation. You can't make it go away and they *Very clearly* warned people that the short term effects could be bad.
The payments are staged and the big payment is due when the house build starts at the factory, they wouldn't accept it early, I suppose for genuine reasons, he's sanquine about the whole thing and he's got it covered but he's also an IT bod not Gordon fking Gecko, most people don't have Euro accounts and presumably it's something that takes time to set up what with the risk of money laundering etc.

I'm not whinging on his behalf and just giving an example that's close to me of real life impacts of the last 5 days, I just think the government of the day could have done, be doing more to provide leadership and reasurance.

Another one is two of my cousins makng applications to take up their right to Irish dual citizenship as a hedge against any chance that UK nationals might find it harder to go and work and live in Europe, but they're young, attractive and liberal and possibly not what the PH massive would consider worthy of camaraderie.
bank treasuries will have to up sticks and move to europe. am wondering what the metal exchange will do now the chinese bought it!

ukaskew

10,642 posts

220 months

Tuesday 28th June 2016
quotequote all
My brother-in-law works for a FTSE 250, they were told on Friday that plans were already being drawn up to move much of his area of work to Europe if Brexit became a reality. Details were sketchy and whilst it depends on our trade agreement, I understand they may take the opportunity now it's 'out there' regardless.

I work in a Uni at PhD level, it's fair to say most people are terrified as funding currently comes largely from the EU. You'd hope the money 'saved' gets reallocated fairly based on what it was being spent on before, but the uncertainty will most definitely mean many projects are put on hold. That will have a knock on effect with regards to the construction projects that were planned in the next few years.

LasseV

1,754 posts

132 months

Tuesday 28th June 2016
quotequote all
kurt535 said:
My gf loves Finland. Sounds about time to come over and show some solidarity.
clap

I like to be with british people, so this situation is little bit of depressing.

SeeFive

8,280 posts

232 months

Tuesday 28th June 2016
quotequote all
vonuber said:
Oh, and it's very likely a pay freeze as a minimum this year if we still actually have a job.
Maybe for some. Not for all though.

Whole company got a good pay raise today. Odd given we were originally advised from the CEO to remain because of doom for the company.

Two new contracts today for me, one new name, one new project with existing client and two tenders to respond to (airline and finance), which you will be pleased to know have kept me off here most of the day as one is due in on Friday. And we were really quiet in the run up to the vote.

It's a disaster!!!

NRS

22,079 posts

200 months

Tuesday 28th June 2016
quotequote all
LasseV said:
Well, England did loose at least one tourist because of brexit. I was planning a road trip to england but now i think i just go straight to Scotland. I just doesn't respect you guys as much as i used to. One part is brexit but bigger part is those Leavers and their messages/contribution in PH and elsewhere. They were just so arrogant, disrespectful and almost hostile towards other EU-nations. They are like EU doesn't do anything right and we just live with your money.They just doesn't know how these things works. For example economical sanctions against Russia did hit hardest to Finland. We didn't complain because it is best for Europe that Russia know it's limits. But It sucks because 30 percent of our export did go to Russia so our economical situation is very tight at the moment. And now Russia wins after all, lines are broken and Eu is weaker. So i have one thing to say for those arrogant/disrespectful people: fk you!

It is a shame really. I liked England a lot. England feels so introverted now...

BTW, i want my money back from Cornwall. biggrin

Edited by LasseV on Tuesday 28th June 23:07
I am a Brit living in Northern Norway so do see a bit of difference compared to a lot of others. Some people are not great in portraying their opinions and are arrogant. Some are stupid and racist. But is Russia the aggressor in what is happening generally? It's been the EU that has been moving closer and closer to Russia's borders. And for example in Ukraine ignored a divided country and accepted a revolution because it matched with the EU goals (which would have hurt a lot of the populations links with Russia). I don't agree with what Russia did, but it has recently "only" interfered in a country in which there was a revolution, in which a large population is Russian, once Europe offered an agreement at the expense of Russian interests. In contrast European countries have pushed the EU boundries and agreements closer and closer to Russia, and gone invading lots of middle eastern countries and then abandoning them in a massive power struggle mess. As much as Russia has problems, we as the west are probably a lot worse when it comes to "respecting boundaries". Check Putin's comments when it was mentioned he would be happy with a brexit - he got annoyed at being brought into the debate and said he couldn't care less about Brexit.

cymtriks

4,560 posts

244 months

Tuesday 28th June 2016
quotequote all
We are seeing the remainers in their true colours

  • Insults
  • Threats
  • Arrogance beyond belief
  • Total denial
  • No talk of what the EU needs to be in the future to tempt us back
  • No talk of what the EU needs to be in the future to stop other countries leaving
We are also seeing our government in its true colours

  • No plan for a very likely outcome
  • Mass resignations all around
  • No clear leadership
  • Prime Minister going
  • Opposition in chaos
When you see the extent of the rot you realise how urgently the boat needed to be rocked.

lostkiwi

4,584 posts

123 months

Tuesday 28th June 2016
quotequote all
cymtriks said:
We are seeing the remainers in their true colours

  • Insults
  • Threats
  • Arrogance beyond belief
  • Total denial
  • No talk of what the EU needs to be in the future to tempt us back
  • No talk of what the EU needs to be in the future to stop other countries leaving
We are also seeing our government in its true colours

  • No plan for a very likely outcome
  • Mass resignations all around
  • No clear leadership
  • Prime Minister going
  • Opposition in chaos
When you see the extent of the rot you realise how urgently the boat needed to be rocked.
Seriously?
You must be reading different threads to me.
A Brexit supporters only tonight implied I leave and take the rest of the moaners with me (which as an immigrant is offensive).
There were several others who had similar suggestions made to them.
Since when is the answer to anyone who disagrees with a point of view to get them to leave the country. It might have been popular back in 1939 with some folks but hopefully we've progressed a bit since then.

voyds9

8,488 posts

282 months

Wednesday 29th June 2016
quotequote all
lostkiwi said:
Since when is the answer to anyone who disagrees with a point of view to get them to leave the country. It might have been popular back in 1939 with some folks but hopefully we've progressed a bit since then.
Since the remainers wanted a do-over until they get the 'right' result.