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“BREXIT IS A DISASTER FOR THE ECONOMY”

By Pete Moore On October 16th, 2018

Oh …

Wages rising, employment at a record high, it’s as if doom-mongers have been making it up, wishing for a collapsed economy to show those racists and xenophobes that they were wrong. Well, they’ve always been wrong. The economy will do just fine despite Brexit.

Don’t tell me that it hasn’t happened yet. Everyone knows it’s coming in a few months’ time. Brexit is priced in.

9 Responses to ““BREXIT IS A DISASTER FOR THE ECONOMY””

  1. Is that true or did the BBC supply it?

  2. Interesting article.

    It shows that average earnings are still below the level they were at in 2010 when the Tories took over.

  3. Pete is the man who switches a hot radiator off in a room and then expresses surprise because the room hasn’t gone instantly cold !

  4. We it will be for farmers in the wee six anyway:

    The government is also committing that it will not simply apply the Barnett formula to changes in Defra funding beyond this Parliament. This means that farmers in Wales, Scotland and Northern Ireland will not just be allocated funding according to the population size of each nation, which are in each case significantly smaller than England

    https://www.gov.uk/government/news/fair-funding-for-farmers-across-all-parts-of-the-uk

    Goodbye juicy EU farming subsidies, godbye Barnett Formula.

    Let’s see if all those true blue Ulstar farming folk DUP voters are really loyal to the crown or to the half crow,

    Hey, DUP, thanks for the confidence and supply agreement. Now fuck off.

  5. Colm,

    Pete is the man who switches a hot radiator off in a room and then expresses surprise because the room hasn’t gone instantly cold ! !

    Spot-on Colm.
    And you can bet your life that if the economy was going to shit and jobs were being lost, Pete wouldn’t be blaming Brexit for it.

  6. I read that Direct foreign investment in the U.K. has plummeted by over 90% since the referendum result. Investors are far less interested in putting their funds into businesses that will no longer be part of the European single market. The negative consequences of that will be felt in the years following our exit from the worlds largest economic unit.

  7. Colm, that’s enough of your common sense project fear.

    When Brexit happens ambrosia will fall from the skies. People will feast on manna from the Gods and we won’t have to worry about import prices on Euro cars as everyone will be given unicorns for transport along with their own body weight in diamonds and a seven bedroomed mansion made of solid gold to live in.

  8. I read that Direct foreign investment in the U.K. has plummeted by over 90% since the referendum result.

    Well that’s bullshit. Total bullshit. So stop reading whatever you’ve been reading.

    FDI credits declined from 2011 to 2017 (not by 90 per cent), then rose. They declined for 5 years before the referendum, then rose again after.

    https://www.ons.gov.uk/economy/nationalaccounts/balanceofpayments/articles/ukforeigndirectinvestmenttrendsandanalysis/july2018#foreign-direct-investment-in-2017

  9. From the linked BBC article: “But slow down. The fact that 3.1% is the biggest pay rise since February 2009 says more about how weak pay growth has been in the last decade than how strong it has been in the past year. Strip out the effect of inflation (as measured by the Consumer Prices Index) and you get pay growth of just 0.6%.”

    0.6% pay growth is puny. It will likely decline after Brexit as GDP falls and inflation increases. Brexit is a terrible thing for workers and the overall economy, and it only gets worse.

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