[Politics] Brexit

[portslade seagull]

Apart from the Government potentially subsiding the automotive industry in this country with taxpayers money going forward, nothing I guess.

Maybe a little more of that years ago and we might still have a manufacturing industry. They all moved abroad with the help of subsidies EU inclusive so don't use that as an argument

 

[ManOfSussex]

Maybe a little more of that years ago and we might still have a manufacturing industry. They all moved abroad with the help of subsidies EU inclusive so don't use that as an argument

Maybe. It's not as if have any national debt, so why not? I'm pleased the workers of Sunderland weren't the turkeys who voted for Christmas though.

(By the way, Sky News is and always has been my primary source of TV news, despite voting remain - I've always preferred balanced coverage.)

 

[drew]

You mean like what the EU pays out

As long as any deals are transparent then yes. We know what the EU pays to companies as grants so why are you not keen to know what agreements our Government are doing?

 

[Soulman]

Maybe. It's not as if have any national debt,

So this natinal debt, has it just appeared since June 23rd.

 

[Biscuit Barrel]

Maybe if he hadn't lowered interest rates and printed money we would have seen a different financial landscape? Seems to me he's done a very good job with keeping the economy just about growing.

Most experts say that with hindsight, he was far too quick to to lower interest rates and pump money into the economy. You might well be right, but I don't agree with you.

Maybe, just maybe the economy is going to be OK and and most the "project fear" predictions turn out to be wrong.

 

[Lincoln Imp]

Deals with India and China have been talked about, but I think these will be very difficult to get done, given the costs of production in those countries we would need to protect our manufacturing from being wiped out completely.

As has been mentioned before a leading Brexit economist has said that the virtual elimination of British manufacturing would probably result from tariff-free deals with non-EU countries but this needn't worry us at all. He wasn't setting out to be doom and gloomy. He was just contentedly pointing out what might happen if the UK took his advice and voted Leave. Tin hats on everyone.

 

[ManOfSussex]

So this natinal debt, has it just appeared since June 23rd.

No and I didn't say it had. Has it got any smaller since June 23rd?

I'd like to know what guarantees and how much liability the Government have given and exposed themselves and us to in this Nissan announcement today.

 

[Raleigh Chopper]

I just knew that as soon as the announcements on the growth and Nissan cars was made today that the people who voted leave would jump on here to tell us all that we told you it would be OK.
I think they did not listen properly to the report, while I agree that something is better than nothing it is nowhere near as good news as you think it is, especially as we have not even got out of Europe yet.

 

[Herr Tubthumper]

Most experts say that with hindsight, he was far too quick to to lower interest rates and pump money into the economy. You might well be right, but I don't agree with you.

Maybe, just maybe the economy is going to be OK and and most the "project fear" predictions turn out to be wrong.

Maybe, possibly, if? We will never know. What we do know for fact is Carney acted and is presiding over a economy which, whilst fragile, is still growing. I'll take that.

 

[Green Cross Code Man]

I wonder what Sunderland will think when Nissan takes its huge car factory away to relocate in Europe.

http://www.bbc.co.uk/news/business-37787890

I guess Sunderland is feeling okay?

 

[studio150]

This is the most worrying aspect regardless of whether you voted Remain or Leave. We now know that the predictions by both the Treasury and the BoE for the UK economy in the immediate aftermath of a Brexit vote weren't just wrong but spectacularly wrong. These are the people that we pay a lot of money to, to predict how the UK economy will fare. The Treasury are the ones who provide the Chancellor with the information necessary to set his budget. The Bank of England have the power to set interest rates as part of long-term strategic planning and it appears that they can't even get close to guessing what will happen with a given scenario just 2 or 3 months down the line.

I really think Carney should perhaps step away from the limelight for a bit. I'm guessing that his intervention pre-Brexit vote was probably made under pressure from Number 11 but it was unwise and sets a dangerous precedent for the BoE governor making political interventions in the future.

Although out of interest Sky News were running a trailer this morning, which had a snippet of David Cameron (remember him, ex PM) saying, the pound will fall and prices will rise. And guess what the pound is lower and imported goods are costing more.

 

[studio150]

Great news. What's not to like.

Apart from the exit from the single market and tariffs being imposed so that my tax money helps out Nissan not a lot.

 

[Buzzer]

Although out of interest Sky News were running a trailer this morning, which had a snippet of David Cameron (remember him, ex PM) saying, the pound will fall and prices will rise. And guess what the pound is lower and imported goods are costing more.

That he did and that was another thing that I had to consider when making my decision which way to vote but the BoE and Treasury predicted an immediate shrink of 1%. As it happens, I was very cynical about those figures when announced and didn't hold much store by them but plenty of other people did trust the BoE/Treasury on this one.

Let's say for argument's sake that at the general election in 2020 there's a huge resurgence in Labour support and John McDonnell announces that if he becomes Chancellor he plans to nationalise banks, bring back the gold standard, impose a transaction tax on City dealings etc. The BoE and the Treasury are asked to predict the effect - who is going to believe them? They got the Euro wrong, they failed to spot the worldwide recession in 2008, they can't even come up with a reliable prediction for how the economy will be 60 days in the future.

 

[Soulman]

I just knew that as soon as the announcements on the growth and Nissan cars was made today that the people who voted leave would jump on here to tell us all that we told you it would be OK.
I think they did not listen properly to the report, while I agree that something is better than nothing it is nowhere near as good news as you think it is, especially as we have not even got out of Europe yet.

Humbug........

 

[melias shoes]

Apart from the Government potentially subsiding the automotive industry in this country with taxpayers money going forward, nothing I guess.

Yeah and saving 7000 jobs in the process. You probably would loved it if Nissan had pulled out so you,along with all the other bitter remoaners could all say 'we told you so' . Well guess what? They didn't and I'm sure all the people in Sunderland are highly delighted with the outcome. Even if that means some of my tax keeping them in their jobs.so what.

 

[portslade seagull]

As long as any deals are transparent then yes. We know what the EU pays to companies as grants so why are you not keen to know what agreements our Government are doing?

I am keen but just making sure this argument isn't one sided. No point pumping money into a failing business

 

[Soulman]

http://www.bbc.co.uk/news/business-37787890

I guess Sunderland is feeling okay?

Yep, they still makem in Sunderland.

 

[studio150]

That he did and that was another thing that I had to consider when making my decision which way to vote but the BoE and Treasury predicted an immediate shrink of 1%. As it happens, I was very cynical about those figures when announced and didn't hold much store by them but plenty of other people did trust the BoE/Treasury on this one.

Let's say for argument's sake that at the general election in 2020 there's a huge resurgence in Labour support and John McDonnell announces that if he becomes Chancellor he plans to nationalise banks, bring back the gold standard, impose a transaction tax on City dealings etc. The BoE and the Treasury are asked to predict the effect - who is going to believe them? They got the Euro wrong, they failed to spot the worldwide recession in 2008, they can't even come up with a reliable prediction for how the economy will be 60 days in the future.

I would image that those pledges would be a vote loser, as i can't image the country moving that far left. However I agree that any predictive figures would receive a great deal of comment.

 

[ManOfSussex]

You probably would loved it if Nissan had pulled out so you,along with all the other bitter remoaners could all say 'we told you so'

Sorry to disappoint you, but no I wouldn't because I don't want anyone to have to lose their job and I'm not the one who's bitter.

 

[studio150]

I just knew that as soon as the announcements on the growth and Nissan cars was made today that the people who voted leave would jump on here to tell us all that we told you it would be OK.
I think they did not listen properly to the report, while I agree that something is better than nothing it is nowhere near as good news as you think it is, especially as we have not even got out of Europe yet.

Too true, especially when you look at the 0.5% growth is down to services, with sectors such as manufacturing and agriculture going backwards. However they don't want to look deeper than the headlines and give themselves a pat on the back. There were a number of interesting interviews during the day, which all stated that companies that were importers and exporters were having issues, as the components they import are more expensive making their finished goods more expensive and therefore receiving little benefit from the lower pound.