Tell me where we are going to get the stuff we import from them from.
Also what happens to what we export to them?
Don't worry any way. China and America will probably nuc each other soon the way things are going.
Leading Brexiteer to build a new car...
- Thread starter ellal
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Tell me where we are going to get the stuff we import from them from.
Also what happens to what we export to them?
Don't worry any way. China and America will probably nuc each other soon the way things are going.
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Well I guess £8.5bn is 'slightly less' than £12bn in some people's minds
But the trade deficit is very simple to explain...
The UK is mainly a service economy, because it doesn't make much that the EU actually wants or needs.
It is barely 50% self sufficient in food, and is reliant on imports mainly from the EU.
It can't supply enough of it's own required energy needs and again is reliant on foreign imports which flow through or originate in the EU.
And lastly the UK has sold off most off it's assets to the private sector, and much of this has ended up in EU companies/EU Governments investments.
The economics of that trade deficit explained in a nutshell for you
And when we lose financial passporting then it will get far worse...
So maybe you can tell us how the UK will improve it's trade deficit with the EU when we leave?
Or how our trade deficit with the rest of the world will improve when we get all of those 'wonderful trade deals' that we have been promised are the 'easiest in history' to obtain?
Err, I would imagine we would still get it from them John. We'll likely negotiate a free trade deal, failing that we'll see a 3% tariff on most goods, tafiff on food will be much higher but that said it's also the easiest to source elsewhere.
John, do you seriously believe that next year the Govt will be stuck with nowhere to import from and we're all going to die?
Apart from services no?
Not reliant, a cosy arrangement to support French farmers via the CAP, we won't go hungry that's for sure.
Ireland (which is in the EU) is 100% dependant on the UK for energy, are you really suggesting the EU will starve us of energy, given that our energy suppliers are part owned by the French? give yer head a shake man.
If they don't agree regulatory equivalence it's possible, but unlikely.
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That's the story we were told in 2015
No but one way or the other what we buy import wise will very probably go up in price to us when we buy it. Much depends on how the GBP behaves, how much we are left with from our incomes and also in other areas how the countries loan rating behaves. We have already been downgraded twice. On the other hand the west's economics are in a mess worsened by CV19 so there may be a change in attitude from outfits like the IMF etc. Market size for companies and countries to sell into do come into this area.
One of the factors that has always interested me is why join the EU / Common market in the first place. One that was mentioned might be called Trumpism. It's inevitable due to the way businesses operate continuously improving the bottom line on their balance sheets by any means possible. Trade wars have taken longer than I expected to crop up and I don't see us in a position to have one with other country ourselves. Brexit wont change that. There is no reason why it should.
So things are left with what can Brexit achieve. The saving on contributions could easily be gobbled up by a reduction in the tax take. Sudden world class businesses appearing and return to what started finishing around 1970 - get real folks we don't even have the skills or the infrastructure needed any more. They never were all world class anyway. Many went because they were not very good at what they did just as in the USA and others because they were big enough for the UK only as it wasn't easy to sell to other markets so few tried. The company I started with, Lucas was well regarded even on the stock market - it asset stripped itself and then got bought up. It and many other large outfits stopped investing before we even joined the EU. All of them actually.
Yes of course prices will go up John, but here's the thing, so will wages. If that doesn't happen, the goose that lays the golden eggs (workers paying tax) will be kicked in the nuts and the whole pack of playing cards will come tumbling down.
Globalisation has run it's course and it doesn't look like a happy ending, it will obviously never go away but cheap imports and cheap workers and reduced wages has had a good run but those days are over, Globalisation and social justice don't go hand in hand, it certainly doesn't benefit workers, it benefits large non tax paying corporations and China hasn't done too badly out of it, but those days are over, that's why the Chinese are getting a bit het up about things.
Even the EU, champions of globalisation have, as a result of Covid, woken up to the threat of China.
You won't catch me driving a B M Rubbleroo.
No-deal Brexers actually want things to get worse - i.e. more costly. Crazy barstools.
i've never stated which way i voted in the referendum, i voted to stay in the EU, however i am also democratic and embrace the way of the people, i am an optimistic type of person and therefore i wish to have an optimistic view of the future, i'll certainly try my best to make the most of whatever comes my way. I refuse to whine like a little school girl because the majority didn't vote with me, that will only make me bitter and twisted, and very few people get on well with bitterness.
it's highly doubtful a trade deal will be made now.
neither side is willing to budge.
the EU isnt offering much more than being part of the EU but not getting the benefits. The UK isnt willing to budge on free movement, regulation, fisheries, and level playing field.
The UK needs all these things to survive without the EU in the future and the EU know it. But likewise not having access to UK fish stocks will decimate Norwegian and danish economies, the UK offering deregulation, tax incentives and tax free zones could also impact on the EU.
The EU also want to ensure the UK doesnt survive leaving, this will put off other states from leaving if they see how much of a cock up we make of it (and we done a pretty good job of cocking it up so far), you have hungary, italy, and maybe even poland which has quite a vocal anti-eu rhetoric, if the UK succeeds this rhetoric will only become more prominent.
its a difficult situation to predict all we can do is ride it out and hope for the best and hope we dont bugger up the economy like Argentina when they switched to USD.
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durhamplumber
About the same as you getting over it.Zero.
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durhamplumber
Sell more stuff to other countries than we import...Where were you for economics lessons at school? Round the bikeshed
when the problems start in earnest next year, leavers will blame the EU, they wont accept the problem is Brexit....views are too entrenched.
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