Current Affairs EU In or Out

[peteblue]

We are in a chance in a million to break free from a doomed project the EU it's how it's done is the only point I can agree with you if a deal can be done can,t you see the EU do not want us to have unrestricted trade in the WTO as they are scared of losing a major contributor, and other EU countries will want the same?
That's is what we joined by the way a trading group of countries not a Polictical domination which has zero growth who bleeds us dry!

The main problem though Joey is between those in Europe who would like to take a sensible approach in doing a deal and those who are more concerned with trying to 'punish' the UK for EU political purposes. They are all flip flopping all over the place at the moment and unfortunately every time an Ed Milliband comes out with some other cunning plan to stay in, the 'punishers' gain ground and get the European media headlines. The day when people realise that the vote has gone, we are getting out, and the UK should all be pulling together is the day that the EU will realise that the game is up and a deal needs to be done. We are shooting ourselves in the foot at the moment. A bit of discipline is required......

 

[Foot Long Hot Dog]

The main problem though Joey is between those in Europe who would like to take a sensible approach in doing a deal and those who are more concerned with trying to 'punish' the UK for EU political purposes. They are all flip flopping all over the place at the moment and unfortunately every time an Ed Milliband comes out with some other cunning plan to stay in, the 'punishers' gain ground and get the European media headlines. The day when people realise that the vote has gone, we are getting out, and the UK should all be pulling together is the day that the EU will realise that the game is up and a deal needs to be done. We are shooting ourselves in the foot at the moment. A bit of discipline is required......

When the EU realise the game is up? lol

Yeah mate they'll get down on tier knees to the mighty Blighty when those pesky Europeans realise we mean business!

What meaningless bollocks

 

[hullefc]

The guardian.....

"We have to get away from these cheap lines about sterling being “hit” or suffering a “blow”, and such like. Currencies are not share prices. Sometimes it’s better, for the health of the UK economy, that the pound loses value against the currencies of our major trading partners.

The UK’s financial position, regardless of the vote for Brexit, was screaming out for a devaluation. The current account deficit, a measure of our balance of payments with the rest of the world, was 5.9% in the second quarter of this year. If sustained for too long – and the UK has been running such deficits for years – a day of reckoning was bound to arrive eventually. Brexit has been the trigger.

Michael Saunders, a member of the Bank of England’s monetary policy committee, was right to sound sanguine on Tuesday. “Given the scale and persistence of the UK’s current account deficit, I would not be surprised if sterling falls further, but I am fairly agnostic as to whether any further depreciation is likely,” he said.

Consider the reverse position. What if the UK had voted to stay in the European Union and sterling, at $1.50 at the time, had risen to, say, $1.60 or $1.70? There is every chance the UK would have headed towards negative inflation, bringing a knotty set of challenges for policymakers and intensifying the imbalance between imports and exports."

Shall we add the next bit,

'None of above, of course, should be taken as meaning that Brexit will benefit the UK economy. Sterling is falling because investors believe the UK’s prospects are poorer outside the EU, and definitely bleaker if we also end up outside the single market via a hard Brexit.

That judgment, at least for the short and medium term, seems entirely correct. It is hard to see how exiting a trading bloc after 40 years of membership could be a painless process. There will be a shock, as sensible members of the leave camp conceded all along as they spoke of long-term opportunities. It is only ideologues like David Davis, the Brexit minister, who can make the ludicrously bald claimthat “there will be no downside to Brexit, only a considerable upside”. Davis cannot possibly know how the UK economy will adjust to whatever arrangements follow'.

A falling pound is a disaster for the car industry and the small UK manufacturing base.

 

[Foot Long Hot Dog]

Shall we add the next bit,

'None of above, of course, should be taken as meaning that Brexit will benefit the UK economy. Sterling is falling because investors believe the UK’s prospects are poorer outside the EU, and definitely bleaker if we also end up outside the single market via a hard Brexit.

That judgment, at least for the short and medium term, seems entirely correct. It is hard to see how exiting a trading bloc after 40 years of membership could be a painless process. There will be a shock, as sensible members of the leave camp conceded all along as they spoke of long-term opportunities. It is only ideologues like David Davis, the Brexit minister, who can make the ludicrously bald claimthat “there will be no downside to Brexit, only a considerable upside”. Davis cannot possibly know how the UK economy will adjust to whatever arrangements follow'.

A falling pound is a disaster for the car industry and the small UK manufacturing base.

Davis is a right wing Thatcherite militant, who's career was down the pan years ago, for some reason best known to herself (or her King makers ) they've dragged him back round the U bend to front up our Brexit negotiations.

He's already proving why he went down the pan in the first place. The Tories are in complete disarray, Davis blaming the Treasury for having the temerity to stand by their Brexit analysis in terms of the GDP fall, he's more or less called them traitors, the absolute balloon lol

 

[Joey66]

Shall we add the next bit,

'None of above, of course, should be taken as meaning that Brexit will benefit the UK economy. Sterling is falling because investors believe the UK’s prospects are poorer outside the EU, and definitely bleaker if we also end up outside the single market via a hard Brexit.

That judgment, at least for the short and medium term, seems entirely correct. It is hard to see how exiting a trading bloc after 40 years of membership could be a painless process. There will be a shock, as sensible members of the leave camp conceded all along as they spoke of long-term opportunities. It is only ideologues like David Davis, the Brexit minister, who can make the ludicrously bald claimthat “there will be no downside to Brexit, only a considerable upside”. Davis cannot possibly know how the UK economy will adjust to whatever arrangements follow'.

A falling pound is a disaster for the car industry and the small UK manufacturing base.

Thats funny a business man was on to night saying all our exports are booming?

 

[hullefc]

Thats funny a business man was on to night saying all our exports are booming?

What exports are bbooming?

 

[Joey66]

What exports are bbooming?

Let's see the trade figures for this period before you shout your mouth off heylol

 

[Duncan Disordely]

BBC reporting we will quite probably have to pay half of our current EU contributions to access EU markets, in perpetuity

 

[Joey66]

When the EU realise the game is up? lol

Yeah mate they'll get down on tier knees to the mighty Blighty when those pesky Europeans realise we mean business!

What meaningless bollocks

The EU will be nastier than you foot longlol
They really will I agree they will fight a dirty battle it will be like going to Anfield with RM as Managerlol

 

[Pienaar's gloves]

Quite right too, in fact, I would say half is a let off.

 

[Joey66]

Propaganda the Remoaners don't like defeat so let's stir it there is a debate tomorrow head by Jezzalol

 

[Foot Long Hot Dog]

Thats funny a business man was on to night saying all our exports are booming?

A ridiculous Tory coverall for a weak currency

We have a trade deficit therefore a devalued pound = inflation

The End

 

[hullefc]

Let's see the trade figures for this period before you shout your mouth off heylol

This is how they work exports out.

'UK export orders reached a two-year high in August after goods became cheaper for overseas buyers thanks to the slump in the value of the pound, new figures show.

The survey from the CBI will add to optimism about the resilience of the economy after the vote to leave the European Union, following better than expected retail sales and jobs figures last week.

A poll of 505 firms by the CBI found 21% said total export orders were above normal compared to 27% saying they were below normal - giving a balance of -6%.

The export reading was the best since August 2014 for the beleaguered manufacturing sector which has been struggling to recover since the recession, despite the upturn in the wider economy.

It comes after the pound slumped to 31-year lows in the wake of the Brexit vote on 23 June.

Manufacturing tends to gain from falls in the pound because it makes UK goods cheaper for foreign buyers - though some firms will also face higher costs to import raw materials.

Figures showed overall output growth from Britain's factories dipping slightly in August, though still doing better than expected.Anna Leach, CBI head of economic analysis and surveys, said: "It's good to see manufacturing output growth coming in stronger than expected, and some signs that the fall in sterling is helping to bolster export orders.

"But the pound's weakness is a double-edged sword, as it benefits exporters but also pushes up costs and prices.

"The most significant effects of the vote to leave the EU will flow over the medium to long-term.

"Therefore firms need to see ambitious decisions in the Autumn Statement that will secure the UK's economic future as changes to trade, regulation and access to skills loom on the horizon."

Paul Hollingsworth, UK economist at Capital Economics, said the survey was another reason to be "tentatively optimistic about the extent to which the economy has taken a hit from the referendum outcome".

He said: "In part, the weaker pound seems to be already starting to help cushion the blow for manufacturers.

"While it is still early days, the latest survey is another reason to think that the economy should avoid a deep recession."

It is all 'surveys', 'tends to' but 'overall growth dipped'. 'A poll of 505 firms by the CBI found 21% said total export orders were above normal compared to 27% saying they were below normal - giving a balance of -6%'. That is minus 6, which means no growth.

There is no 30 000 more cars were exported, 5000 more machines were exported etc. But plenty of 'tends to'. Why? Because that is what the economic textbooks say should happen, but in the real world it doesn't.

 

[Foot Long Hot Dog]

Propaganda the Remoaners don't like defeat so let's stir it there is a debate tomorrow head by Jezzalol

Remoaners? defeat? You're revelling in some faux victory and ignoring the economic facts whilst still running around with your hands in the air

Grow up man

 

[hullefc]

Thats funny a business man was on to night saying all our exports are booming?

Main points for August 2016

UK trade shows import and export activity and is a main contributor to the overall economic growth of the UK. All data are shown on a seasonally adjusted, balance of payments basis, at current prices unless otherwise stated. This UK trade release covers two complete calendar months of data post the EU referendum.

The UK’s deficit on trade in goods and services was estimated to have been £4.7 billion in August 2016, a widening of £2.5 billion from July 2016. Exports increased by £0.1 billion and imports increased by £2.6 billion.

The deficit on trade in goods was £12.1 billion in August 2016, widening by £2.6 billion from July 2016. This widening reflected an increase in exports of £0.1 billion to £25.8 billion and an increase in imports of £2.7 billion to £37.9 billion.

Between the 3 months to May 2016 and the 3 months to August 2016, the total trade deficit for goods and services widened by £3.6 billion to £12.6 billion.

Between the 3 months to May 2016 and the 3 months to August 2016, the deficit on trade in goods widened by £3.3 billion to £34.5 billion. Exports increased by £0.9 billion (1.2%) and imports increased by £4.2 billion (4.0%).

Between the 3 months to May 2016 and the 3 months to August 2016, the UK’s trade in goods deficit with the EU widened by £0.8 billion to £23.9 billion. Between the 3 months to May 2016 and the 3 months to August 2016, the UK’s trade in goods deficit with countries outside the EU widened by £2.5 billion to £10.7 billion, attributed to a decrease in exports (1.3%) and an increase in imports (4.3%).

Between the 3 months to May 2016 and the 3 months to August 2016, the trade in services surplus narrowed by £0.3 billion to £22.0 billion, as exports decreased by £0.2 billion and imports increased by £0.1 billion'.

Exports have increased by £100 million - hardly a boom, but imports have increased by £2.6 billion.