London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Sun, 26th Mar 2023 11:34
Alliance News
(Alliance News) - The UK economy is 4% is smaller than if the country had remained in the EU, the chair of the Office for Budget Responsibility said.
Richard Hughes said the effect of Brexit on the economy is on the "magnitude" of the coronavirus pandemic and rising energy prices, and the country is seeing the "biggest squeeze on living standards" on record.
He told the BBC's Sunday With Laura Kuenssberg programme: "But we do expect, as we get past this year and we go into the next three or four years, that real income starts to recover.
"But it's still the case that people's real spending power doesn't get back to the level it was before the pandemic even after five years, even by the time we get to the late 2020s."
Hughes said this is "partly" because the UK's growth has been held back by supply constraints on "key drivers" of growth.
He spoke of the country losing 500,000 workers, combined with "stagnant investment" since 2016 and slowing productivity.
Asked how much stronger the economy would be if the UK had remained in the EU, he said: "We think that, in the long run, [Brexit] reduces our overall output by around 4% compared to had we remained in the EU.
"I've struggled to put it in any kind of sensible context.
"It's a shock to the UK economy of the order of magnitude to other shocks that we've seen from the pandemic, from the energy crisis."
By Ted Hennessey, PA
Britain’s trade has been hit significantly by its departure from the single market. Trade in goods with the EU fell sharply after the Brexit transition period ended, with UK imports from the EU dropping by approximately 25 per cent more than UK imports from the rest of the world, a trend which persisted throughout 2021. A recent revision to the official trade data (marked as “EU adjusted” in the chart below) has shown a slight uplift in imports compared to previous data, but the EU imports are still shown to have underperformed the non-EU ones.
https://institute.global/policy/three-years-brexit-casts-long-shadow-over-uk-economy
The UK economy will shrink and perform worse than other advanced economies, including Russia, as the cost of living continues to hit households, the International Monetary Fund has said.
https://www.bbc.co.uk/news/business-64452995
Much speculation has taken place in the past five years around the impact of Brexit on the EU and UK economies,
https://www.gerhardschnyder.com/brexit-impact-tracker
Yeah but I do get a stamp in my passport when I go to Spain lol
I was a remainer, but I don't know why people keep harping on about this. We are where we are and as a country we need to stop complaining, pull together and make the best of it.
True we are where we are,, unfortunately we are likely to be further down the lavatory as time goes on!
The UK economy is well and truly buggered and that will influence POG!
The IMF have never, ever, made a correct prediction for the UK economy.
Europe is in a similar situation to UK. EU may even become worse if their dodgy banks (Deutsch Bank being prime candidate) collapse. Fallout will also affect us, unfortunately.
Europe and UK's woes were exacerbated by giving away far too much money during the Chinese 'flu, (UK gave away more than we could afford, unlike most of EU), then cutting off Russian gas to skyrocket the gas price, while buying gas from U.S. at 6x the US Henry Hub spot price. Some would call it shooting oneself in the foot, I just call it stupidity.
https://fullfact.org/economy/eu-exports-january-2021/
https://fullfact.org/europe/our-eu-membership-fee-55-million/
On the flipside, the Office for Budget Responsibility (OBR), which provides independent forecasts to the Treasury, weren’t pessimistic enough about the effect the referendum on GDP growth.
https://fullfact.org/economy/how-accurate-have-brexit-forecasts-been-referendum/
r1234 absolutely. We need to tolerate and respect each others’ views; in the grate scheme of things in 500 years it will be meaningless history, even in 100, and we shall be dead. So dreadful how people fight so about it. I am writing this in a sweet seafood restaurant in Bari, Italy, talking to the waiter about how left and right in Italy are so intolerant and won’t listen to the other point of view same everywhere, we seem to become so polarised and not just have decent debate.
UK NHS has already sunk!
A Brit was forced to travel to war-torn Ukraine for dental treatment - after he failed to get an appointment with the NHS. Richard Howe, 58, developed an abscess under his tooth last month, which was causing him severe discomfort.
He called his local NHS dentist to book an appointment, but was told he'd have to go private to be seen - at considerable cost.
In the UK if people have a tooth problem, they have zero chance of being seen by an NHS dentist. "But in Ukraine, anyone can walk in off the street and be seen straight away, whatever their nationality - and the country is literally a war zone. It's very backwards!"
https://uk.yahoo.com/news/brit-travelled-war-torn-ukraine-080039753.html
UK NHS has been "on it's knees" for the last 30 years, every day I hear "doctors leaving in droves", "nurses leaving in droves" , this has been the same for 30 years- how are there any docs or nurses left if they've been leaving in droves for 30years lol- lot of moaners- the TV docs need to get off TV and stop whining and do some work- it's a service we pay for! I went to a BUPA annual check a few years ago, and told them of my 12hour days, 4 hour commute, occasional weekend work- the doc said it's crazy and I should complain- I said I get paid well and if I moaned I'd be sacked- to which she said- they can't do that- I said they can and I'll only about £50k if I'm successful on unfair dismissal! These docs with their massive, massive pensions need to get into the real, private world- and why is it I can't see a consultant for weeks but if I pay for him privately I can see him next week, (and he's been NHS trained)? Bonkers... RANT OVER!
Back to CEY- good time to trade I think as CEY has dropped roughly twice as much today as FRES, BARRICK, Newmont and co.... bizarre...
Ah, but Italy Sotalo, now they how how to live life, fantastic fashion style and culture, fine wine and cuisine that is so affordable, fantastic art galleries, music venues and architecture, the smell of wild flowers in the countryside and the evening "La Passeggiata"– The Evening Stroll in Italy, not to mention the beautiful ladies walking by!
https://margieinitaly.com/2014/08/la-passeggiata-the-evening-stroll-in-italy/
https://www.tripsavvy.com/what-is-la-passeggiata-1547544
So much for things in the UK by comparison!