Extreme Brexit could be worse than financial crisis for UK: BoE

[RuamRudy]

Here is a list of UK food & drink that currently enjoys Protected Geographical Status under EU law - only clotted cream from Cornwall can legally be called Cornish Clotted Cream; only whisky from Scotland can be called Scotch, for example.

 

Already the US has made it clear that they want these protected statuses removed to allow their producers to compete. In order to reach a deal, our government is likely going to sell out our heritage. 

[SupermarineS6B]

Project fear in full swing i see..........  when will the lights go out and the sky fall in ? oh and let's not forget Goves latest cracker, " There'll be no fresh water"...........  how sad that a once great people have been reduced to snivelling weaklings like this, the Germans (EU) must be rubbing their fat little fingers.......

[evadgib]

13 minutes ago, RuamRudy said:

Jacob Rees Mogg has apparently called Mark Carney a 'failed second tier politician'. That's a bit rich coming from a man who has never shifted from the back benches, who took five years to achieve his 2nd class degree and who owes his current status solely to his parents' fecundity. Had he been born a regular Joe, he would have achieved nothing more than the mediocrity his abilities demand, and the country would not currently be blighted by his hard right rhetoric of greed.  

That surprised me too as Carney is surely a banker rather than a politician, albeit prefixed by 'Merchant' ????

Andrew Pearce summed him & the Treasury up wonderfully a few mins ago during sky news press preview when he said something like "They can't even get their 3 month forecasts right, let alone 30 years!"

[OneMoreFarang]

5 minutes ago, RuamRudy said:

Here is a list of UK food & drink that currently enjoys Protected Geographical Status under EU law - only clotted cream from Cornwall can legally be called Cornish Clotted Cream; only whisky from Scotland can be called Scotch, for example.

 

Already the US has made it clear that they want these protected statuses removed to allow their producers to compete. In order to reach a deal, our government is likely going to sell out our heritage. 

I understand your point and you are right but somehow this is funny/

How many people are interested in "Cornish Clotted Cream"?

And how many would buy "Scotch" from the USA?

[SupermarineS6B]

3 minutes ago, evadgib said:

That surprised me too as Carney is surely a banker rather than a politician, albeit prefixed by 'Merchant' ????

Andrew Pearce summed him & the Treasury up wonderfully a few mins ago during sky news press preview when he said something like "They can't even get their 3 month forecasts right, let alone 30 years!"

If Carney says it, do the opposite....... pratt ! 

[OneMoreFarang]

Did anyone of the hard Brexiters ever publish a realistic and positive forecast for the future after Brexit?

As far as I know that didn't happen. And it's easy to explain why it didn't happen: Because it's impossible!

They all moan and they all tell their stories how they would make things better but it's all bla bla. Just unrealistic dreams.

 

Its like telling a car manufacturer that you don't like that car for $20,000 which with 100BHP and 3l per 100km.

You want a car with 500BHP which uses 1l per 100km for $5,000. That's what you want and you insist that is the only thing you would buy.

Yeah, great idea, except it's just a dream and won't happen. Get real!

[evadgib]

2 hours ago, TopDeadSenter said:

As a committed Brexiteer I take no notice of these ongoing and nonsensical threats from the establishment. Project Fear was a disaster and did not work, time to drop the negativity. To have our country back, in any shape or state, is a far better outcome than to remain in the failed experiment that is the European Union. Constant riots in France, shocking unemployment across the Spain, Portugal and Italy, porous borders and evil NGOs reeking havoc on the social cohesion across the board. Bully-boy non elected eurocrats telling us how to live and think. No. No. No. We will take a nice, fast, hard Brexit and we will be proud to be Great Britain once again.

 

That is pretty much my view too. With hindsight we should have left the EU the week after the referendum result with one hand firmly on the public purse until deals could be agreed from that much stronger vantage point. If Maggie were around that's how she might have done it.

[simoh1490]

11 minutes ago, owl sees all said:

So I take it that you don't agree then simoh1490? Say why; if you could!

I'm afraid the idea of Corbyn leading the country terrifies me, he has neither the agenda/manifesto, the people nor the policies to do so without bankrupting the nation, I mean, that's what Labour is good at and God knows they've had ample practice. Have you seen his ideas on nationalising the water and energy companies and revitalising social care, plus his idea of heavily taxing business and industry, why not just invite every Plc and entrepreneur to simply leave, it's the same thing....those may all separately be worthwhile things to aspire to but they are very bad things to announce if you want to try and get elected, especially at the same time, that in itself says the man and the party have no real strategy other than aspiration. Then we have Abbot, for the love of god, and then we have giving away Trident and any nuclear capability, why not just invite Putin to take us over and instal a communist head of state and make us a gulag for the mainland.  

[Henryford]

The Treasury/BoE can't forecast 6 months in the future let alone 15 years. There are a massive number of variables following Brexit. To produce this now is clearly just propaganda. This is exactly why we wanted to leave the EUSSR. 

[shackleton]

the majority of people in the UK voted out

but are not getting the Brexit they voted for 

a lot of people on here will  be watching the Pound 

I think the MPs will vote her Brexit through on the 11th December as any other options are Negative to the Country will see on 

 the 11th 

[evadgib]

29 minutes ago, RuamRudy said:

Here is a list of UK food & drink that currently enjoys Protected Geographical Status under EU law - only clotted cream from Cornwall can legally be called Cornish Clotted Cream; only whisky from Scotland can be called Scotch, for example.

 

Already the US has made it clear that they want these protected statuses removed to allow their producers to compete. In order to reach a deal, our government is likely going to sell out our heritage. 

I agree that products need to be protected but there must be ways around it? How does the wine industry fare re Burgandy etc bottled in say Chile or OZ? I also recall reading something supporting your point involving the term "Kiwi" fruit where NZ failed to trademark the name and lost out to growers in Chile around a decade ago.

[evadgib]

5 minutes ago, shackleton said:

the majority of people in the UK voted out

but are not getting the Brexit they voted for 

a lot of people on here will  be watching the Pound 

I think the MPs will vote her Brexit through on the 11th December as any other options are Negative to the Country will see on 

 the 11th 

The 'legal advise' currently being withheld is thought to contain confirmation that the northern ireland backstop could leave us in the EU indefinitely!

[owl sees all]

41 minutes ago, evadgib said:

That is pretty much my view too. With hindsight we should have left the EU the week after the referendum result with one hand firmly on the public purse until deals could be agreed from that much stronger vantage point. If Maggie were around that's how she might have done it.

Well said evadgib.

 

We should have left the EU the very next morning. Should have got in a few of the Brexiters; Davis, Mogg, Farage, Galloway, Hitchens and other leading figures as well as representatives from the fishing and agricultural and engineering community and formed a 'Brexit steering group' to negotiate on UK's behalf. The EU would have been shaking in its jackboots and would probably paid us 39billion to <deleted> off (go quietly).

 

This Carney geezer, that is always sticking his oar in; is just a front to keep up the pretence that the BoE belongs to England (UK). The BoE is a privately owned bank. The UK government (on our behalf) has just one share in the place. It is not open to any scrutiny at all and simply having a list of the real owners (shareholders) on one's person is against the official secrets act.

 

As it stands the UK government had no authority to force the BoE to disclose anything it doesn't wish to divulge. Corbyn would (try to) sort this out. This is one reason why he is so demonized by the elites and those that are doing 'OK, thank you very much' and do not want to rock the lucrative boat. Never mind the 4 million people relying on food banks and the 1 million people in despair (UN report).

[metisdead]

An off topic trolling post has been removed. 

[Thingamabob]

Project fear at it's worst. What a load of BS. Carney the Carpetbagger clearly being paid to follow Hammond's orders. Pass the vomit bucket.

[Jack100]

I used to enjoy the discussions down at the local bar between  the Brexits and remainers - unfortunately neither side can afford a few beers any more so at least thats  one thing sorted ......in a way !

 

[evadgib]

7 minutes ago, Thingamabob said:

Project fear at it's worst. What a load of BS. Carney the Carpetbagger clearly being paid to follow Hammond's orders. Pass the vomit bucket.

When they first parachuted him in I thought it was good news but quickly realised that I was wrong & that he's nothing more than a lap-dog.

[Proboscis]

4 hours ago, steve187 said:

52% 0f the people that voted, would thank you for that congratulatory message

52% of the country voted for a future that would involve some sort of exit from the EU (whether that be from the Single Market, Customs Union, EFTA, EA or some other variety they did not know or even understand at the time) and they were assured that by doing so the country would benefit by a fantasy figure that was written on that famous bus. Any downside was labelled "project fear." 

 

Now they are finding out what a "walk away" hard Brexit would mean to the future of the country and are shocked. They are also learning that even with the softer Brexit of the sort offered by Theresa May is also going to result in lower growth rates when compared to remaining in the EU.

 

I am open-minded enough to accept that not everyone who voted Brexit would immediately change their mind in the light of these revelations. There will be those who claim that the experts get it wrong but refusing to engage with the actual arguments used. But there are some saner voices too.

 

For instance, there will be those who will say that sovereignity is much more important than economic growth. And they have a point but the trouble is what amount of sovereignity is too little. With every trade agreement you sign, you give away sovereignity - a simple fact. You have to allow your exports and exporters to be subject to the laws of another country or group of countries and you have to open your borders to the goods and sometimes services of other countries. The EU, Single Market, EFTA, EA and all the rest are merely versions of trade agreements that have more or less intrusion into a country's sovereignity - but there is no such thing as a trade agreement that does not impugn on sovereignity. But no country can survive without trade agreements.

 

In any case, the question then becomes how many of the 52% will really want to vote Brexit in the light of what they now know? It is all very well to have high minded ideas of sovereignity or to think that more controls should be put on immigration but when your job is at stake or grandma's operation has to be cancelled yet again because the Polish nurses have left or the course that your son had set his heart on was cancelled at his university because the lecturer in charge left, all because of uncertainty about Brexit, you have to ask, is that what we all really want?

 

[Basil B]

4 hours ago, simoh1490 said:

It's disheartening to see how yet again the Brexiteers have capitalised on yet another piece of analysis by The Treasury and are quoting just one of the many scenarios that appear in their report, the pro-Brexit newspapers have seized this firmly and are trying to portray Carney as pro-Remain....if in doubt, read the report, I have.

 

It is disheartening that a few hardline Brexiteers devoid of intelligent and rational thinking can wreak our countries future...

[Democracy74]

4 hours ago, TopDeadSenter said:

As a committed Brexiteer I take no notice of these ongoing and nonsensical threats from the establishment. Project Fear was a disaster and did not work, time to drop the negativity. To have our country back, in any shape or state, is a far better outcome than to remain in the failed experiment that is the European Union. Constant riots in France, shocking unemployment across the Spain, Portugal and Italy, porous borders and evil NGOs reeking havoc on the social cohesion across the board. Bully-boy non elected eurocrats telling us how to live and think. No. No. No. We will take a nice, fast, hard Brexit and we will be proud to be Great Britain once again.

 

Well said TopDeadSenter, well said.

[marko kok prong]

I hope the Brexiteer expats ranting on here,have the required lump sum in the bank,as many will not make the income test,if the pound falls to parity with the dollar,i guess they won't be so happy then,when it affects THEM,maybe they can return to glorious Brittania, one tip take a sleeping bag and some cardboard with you.

[RuamRudy]

7 minutes ago, evadgib said:

I agree that products need to be protected but there must be ways around it? How does the wine industry fare re Burgandy etc bottled in say Chile or OZ? I also recall reading something supporting your point involving the term "Kiwi" fruit where NZ failed to trademark the name and lost out to growers in Chile around a decade ago.

This document from the EC gives an insight into the issue - http://europa.eu/rapid/press-release_MEMO-03-160_en.htm

[owl sees all]

8 minutes ago, marko kok prong said:

I hope the Brexiteer expats ranting on here,have the required lump sum in the bank,as many will not make the income test,if the pound falls to parity with the dollar,i guess they won't be so happy then,when it affects THEM,maybe they can return to glorious Brittania, one tip take a sleeping bag and some cardboard with you.

Yes!! This is a possibility. But we will have our freedom mko.

 

We will need to rebuild our industries. Eat more UK caught fish, drink more English wine, scotch whisky, and stop those foreign footballers taking out the pounds from the UK.

 

I see Spain has caused a little headache over Gibraltar. It's only been a democracy for 5 minutes. Not like us. We could bring the Mediterranean shipping to a halt if we wanted to.

 

Step up to the plate the new Winston C! Is Moggie the man???

[baboon]

25 minutes ago, owl sees all said:

Yes!! This is a possibility. But we will have our freedom mko.

Yeah, the freedom to starve, by the looks of things. The average (wo)man on the street will be no freer than he or she ever was.

 

A Tory government rebuilding industry? After decades of letting what they couldn't flog off, whither and die? Does that strike you as likely? They can't even agree among each other that water is wet, so good luck entrusting nation building to them...

[Opl]

deleted

[NanLaew]

6 hours ago, webfact said:

... But if it happened, there would be a 25 percent tumble in the value of sterling -- taking it close to parity against the dollar -- a spike in inflation to 6.5 percent from around 2.4 percent now, and a jump in interest rates. House prices would fall by 30 percent.

I get paid in US$ and don't live in the UK but plan on buying my retirement mansion there soon so, if you must, bring it on.

[marko kok prong]

32 minutes ago, owl sees all said:

Yes!! This is a possibility. But we will have our freedom mko.

 

We will need to rebuild our industries. Eat more UK caught fish, drink more English wine, scotch whisky, and stop those foreign footballers taking out the pounds from the UK.

 

I see Spain has caused a little headache over Gibraltar. It's only been a democracy for 5 minutes. Not like us. We could bring the Mediterranean shipping to a halt if we wanted to.

 

Step up to the plate the new Winston C! Is Moggie the man???

Owl,it's daylight,you need sleep,that the only explanation i can come up with when a usually sensible poster like yourself,starts talking gibberish.

[dick dasterdly]

1 hour ago, evadgib said:

The 'legal advise' currently being withheld is thought to contain confirmation that the northern ireland backstop could leave us in the EU indefinitely!

It doesn't need 'legal advice' to realise this!

[petermik]

7 hours ago, marko kok prong said:

I hope the Brexiteer expats ranting on here,have the required lump sum in the bank,as many will not make the income test,if the pound falls to parity with the dollar,i guess they won't be so happy then,when it affects THEM,maybe they can return to glorious Brittania, one tip take a sleeping bag and some cardboard with you.

I have and thank you for your concern......

[dick dasterdly]

1 hour ago, Basil B said:

It is disheartening that a few hardline Brexiteers devoid of intelligent and rational thinking can wreak our countries future...

And yet again - a remainer has to resort to insults....

 

By the way, I assume you meant 'wreck' rather than "wreak".....