[Closed] Is there ANY good news from the out vote?

I found £5 yesterday*

*This may have nothing to do with the vote, i can't be sure.

price of concrete will come down?

Rachel

Boris is in the news a bit less.

Cameron gone. Boris not likely to be next PM. Those are good things. But they only happened because of a bad thing. So on balance I'm not sure they count as good news.

Not all leave voters are stupid racists.
Some of them aren't racist. 😛

Cameron resigned and Osbourne's leadsrship ambitions are doomed 😉

The really good news from Brexit will only become apparent a year or two from now. At the moment doom amd gloom headlines help sell papers / clickbait and vaccum created by lack of Government planning hasn't helped.

Lower currency good for exporters

Junker is really p.ssed off and may well be pushed out by Merkel. Brexit vote likely to lead to further eurosceptism in Europe and thus better negotiating position for the UK

Lower currency good for exporters

Dreadful for importers

The really good news from Brexit will only become apparent a year or two from now.

That's reassuring.

Seeing as I lost my job on Tuesday (not directly Brexit's fault, but it was the last nail in the coffin), could someone please direct me towards all these benefits immigrants could supposedly claim as the mortgage is due on the 15th, not in a year or two.

Thanks.

It's been quite effective at getting rid of shitehawks.

Yes.

1. One of my credit card companies reduced it's fee for 0% cash transfers to 0.9% so I took the cash and stuck it in my Santander account getting 3%.
2. By the time my mortgage comes up for review in October I should be able to get a good deal on that too.

The rest of Europe is now looking at the right wing parties with the disdain they deserve, and instead of pandering to their racism and senseless jingoism is now starting to counter their arguments.

The really good news from Brexit will only become apparent a year or two from now.

The really bad news from brexit has barely begun. Article 50 will be the next trigger and then things will get steadily worse over the following two years of negotiations.

Cameron resigned and Osbourne's leadsrship ambitions are doomed

To be replaced by even more rightwing candidates.

Lower currency good for exporters

But bad for a country that consistently imports more than it exports.

But bad for a country that consistently imports more than it exports.

True, but in general a trade deficit is a bad thing isn't it.

Fuel prices are up. Should be better for the environment

Farage has stepped down (again) but 'watch this space'.

Boris is out into the wilderness.

We may get snap general election.

A weaken £ might close the trade deficit, maybe, a little bit, but probably not immediately.

I don't see Cameron going as a positive, whilst he's a Tory, and a Bullington member (like Boris) he was at least seemingly able to bow to public pressure and 'u turn' on unpopular laws.

I won a tenner on a bet.

It is possible to hope that the outcome will merely be very bad and not completely catastrophic.

That's all I can come up with.

jambalaya

The really good news from Brexit will only become apparent a year or two from now.

Could you in plain English, quantify the good news?

What, real world, tangible, positive do you think will come about in the near or more distant future?

The maddening thing for me is that before they all resigned the leave campaign could never offer any tangible benefits, just vague rhetoric.

No.

I skimmed the Andrea Leadsom briefing and I facepalmed. I wonder if there will ever be a political crisis in this soon to be trimmed country that doesn't precipitate a lurch to the right.

Brexit vote likely to lead to further eurosceptism in Europe and thus better negotiating position for the UK

Your view may, (does!) differ.

Dreadful for importers

Indeed @Pigface which encourages people to "buy British", fwiw managed currency declines are an option for those hoping to boost local economy especially for countries with a trade deficit

Good news for me is that my pension value went up 3.2% in less than 2 weeks. It may come crashing down though at some point.

@tthew Le Penn is likely to offer a referendum on the euro as part of her election manifesto. Switzerland already had a Referendum and voted to end free movement (Govt stuggling to implement). If Hofer wins in the re-run Austrian Presdiential election we could well see something there. You are quite right that many politcal parties will do anything remotely democratic like asking the people what they think.

Indeed @Pigface which encourages people to "buy British", fwiw managed currency declines are an option for those hoping to boost local economy especially for countries with a trade deficit

Except for things that we have to import, e.g. food, and things that are traded in other currencies, e.g. oil, which will drive up the cost of pretty much everything. I always find it telling that people who play up the positives of a lower exchange rate (and yes I know that there are some) are pretty slow to point out the negatives. I wonder why that could possibly be!

Yes, Scotland will very likely become independent.

The reasonable and decent people who wanted to leave would the EU have been insufficient so I will be eternally grateful to the Daily Mail and the BritNat racists who managed to convince sufficient knuckleheaded numpties to top up their number and vote Leave.

We got our country back and can kick out the darkies... oh, hang on...

Never mind, at least we can go back to buying bendy British-grown bananas.

buy British

What exactly do we make these days?

Empty promises and resignation statements mostly.

What exactly do we make these days?

Is our output not something like 88% service.

jambalaya - Member

Dreadful for importers

Indeed @Pigface which encourages people to "buy British", fwiw managed currency declines are an option for those hoping to boost local economy especially for countries with a trade deficit

"Buying British" might seem like the solution, but it's not really in a Global Economy when you live in a country without much heavy industry to produce the raw materials nor much left of Oil Production as Oil is traded in US$.

The majority of UK manufacturers are making high-end consumer goods made from imported materials which currently don't have a trade agreement on import / export duties, transported by road, sea, rail and air with fuel traded in dollars. Whilst the raw materials may be a relatively small % of the final cost of the goods, in order to make them cheaper than imports you also need to trade globally, the UK is too small a market for true economies of scale - our goods abroad will subject to import duties in their markets - details unknown, but without the bargaining power of being in the EU, won't be as good as they are now - especially inside the EU (our biggest market) as currently it's duty free.

Unless of course we join the EEA, but then global markets will be happy with us again and the £ will return to previous levels. Same cost, no voting power in the EU.

Except for things that we have to import, e.g. food,

The price of Spanish tomatoes may go up, but the price of home grown produce may fluctuate either way.

And hey, you can grow tomatoes on Teesside (it's actually quite clever, one farmer even manages it as a byproduct of electricity generation, but that's a long story!)

and things that are traded in other currencies, e.g. oil,

I always find it telling that people who play up the positives of a lower exchange rate (and yes I know that there are some) are pretty slow to point out the negatives. I wonder why that could possibly be!

There's a lot of crap going on, but the pound falling like a stone I think will be a blessing in disguise.

^ P-Jay, you are Robert Peston, and I claim my £5.00.
But can I have it in $ please as I may not wish to spend it today, and a fiver may be worth nowt tomorrow.

New forum posts at a record high.

which encourages people to "buy British"

Chewkw got a ban

Farage will soon **** the **** off

I'm far from Jamba, but if we weren't in the EU food prices would be through the floor due to oversupply (and a lot of farms would be out of business)

My comment about food was in relation to the potential for there to be negative effects associated with a fall in the value of sterling, not in relation to membership of the EU.

There's a lot of crap going on, but the pound falling like a stone I think will be a blessing in disguise.

In the long run I suspect you are correct however to pretend that there will be NO negative consequences is just one more falsehood on top of all the others that have been getting pedalled recently.

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Brexit vote likely to lead to further eurosceptism in Europe

As per the OP, I'd like actual well defined things that are better due to brexit, that are not contradicted by the only data I which I am aware of.

[url= http://www.independent.co.uk/news/world/europe/eu-membership-support-surges-in-denmark-after-brexit-vote-a7120271.html ]http://www.independent.co.uk/news/world/europe/eu-membership-support-surges-in-denmark-after-brexit-vote-a7120271.html[/url]

Plenty of up sides explained here:
http://www.thedailymash.co.uk/news/society/brexiters-excuses-increasingly-bollocks-20160707110366

@thisisnotaspoon: sorry to hear of your job loss. I fear my team and I may find ourselves in a similar position. not as a result of Brexit itself; but the likely upcoming recession created by all this uncertainty.

wish you all the best hope you find something soon

My comment about food was in relation to the potential for there to be negative effects associated with a fall in the value of sterling, not in relation to membership of the EU.

My point was that we have the capacity to massively oversupply food if we wanted. OK it wouldn't be tomatoes, avocados and satsumas. But we shouldn't need to import food. I suspect if you eat 'british' food (pork, beef, lamb, apples, potatoes, cereals, etc) then you may well see prices go down in the medium term. Or at the very least the weakened pound will boost exports and the resultant price inflation will be offset against whatever replaces CAP not needing to be so well funded.

But we shouldn't need to import food. I suspect if you eat 'british' food (pork, beef, lamb, apples, potatoes, cereals, etc) then you may well see prices go down in the medium term.

For the avoidance of doubt its complicated, winners and losers but a lower fx rate isn't necessarily negative. It does bring some inflation but the BoE is missing its inflation target to the downside anyway.

10% fall in £/$ adds 2p (max ?) to a litre of fuel, hardly earth shattering and dwarfed by the fall in oil price anyway

There's a lot of crap going on, but the pound falling like a stone I think will be a blessing in disguise.

I think it really depends on how much pain you're prepared to take on the way, and for how long.

I hate generalising people, but let’s just say over the next few weeks and months some more reactionary people are going to be going on holiday, and they're going to be a bit annoyed about their reduced spending power. I know people who couldn't give a monkeys about global economics and don't see the link between currency value and lifestyle - but they do care about the £ being 'strong' because it makes them feel proud in strange patriotic way, and they like buying pints for 80p in Spain, but then it'll be September and they'll forget about it.

Fast-forward to Brexit, the actual time we leave and there's no deal in place (or in the case that the city hears the plan and decides it doesn't like it) £ falls to €0.8 and parity with the us £. Within days weekly shopping bills will rise, 30%-40%, some will blame the supermarkets profiteering, but when Aldi costs more than Sainsbury’s did 3 weeks ago, people won't be happy.

3 years later our service industry will collapse, because who the hell is going to pay someone £40 a week to walk their dog or £150 for a haircut when they're disposable income has fallen by 70% and the 30% left doesn't buy half what it used to, unemployment will reach 4m.

Finally 3 years after that, about the same time from now as we're from the credit crunch - with huge unemployment and free from EU 'oppression' we've be forced to give up 'expensive' things like employees’ rights and health and safety (which most people, a bit like the EU actually have been told is 'silly' anyway by the tabloids) and foreign investors will see the UK as a cheap place to make stuff with a cheap, disposable, well educated workforce, a bit like India, China or Taiwan today and the factories will come.

10 years later we may finally have full employment, we'll all be working the 10-2 shift knocking out plastic toy dolls for the new consumers in China and at that point we might start seeing improved workers’ rights and increased wages - 20 years from now.

It's the old-school socialist dream!

My point was that we have the capacity to massively oversupply food if we wanted. OK it wouldn't be tomatoes, avocados and satsumas. But we shouldn't need to import food. I suspect if you eat 'british' food (pork, beef, lamb, apples, potatoes, cereals, etc) then you may well see prices go down in the medium term. Or at the very least the weakened pound will boost exports and the resultant price inflation will be offset against whatever replaces CAP not needing to be so well funded.

Not sure that's true. Any evidence to support that we could be self sufficient in food?

I think it's made many people wake up and realise just how ****ing ignorant and deluded so many British people are, and how quick they are to blame others for their own misfortune. And it's made the Leavers suddenly realise what idiots they've been, and why a turkey should never vote for Christmas. So, it could herald a shift towards helping create a better understanding of what the real issues are, and make people realise that slavishly following the right-wing bullshit isn't perhaps such a good idea after all.

And it could lead to a massive drop in house prices in northern shitholes, which means rich southerners like us can buy up all the properties and rent them out at exorbitant rates to the poor and needy, thus draining already overstretched resources even further, and keeping the proles in perpetual servitude as we further line our own nests*.

*Do not take this bit seriously.

We've not been self sufficient in food since the industrial revolution.

It's better than it was prior to WWII but we're still nowhere near it.

10% fall in £/$ adds 2p (max ?) to a litre of fuel, hardly earth shattering and dwarfed by the fall in oil price anyway

The oil price has been rising since the middle of January.

On balance a weaker £ represents an easing of policy and is the same effect as lower interest rates. That is positive on balance but also has negative effects too. No free lunches in economics.

True, but in general a trade deficit is a bad thing isn't it.

Not necessarily. Depends on where we have a competitive advantage eg, we run a trade surplus in services

Therea are winners and losers, the same as there always are, but here a few things I* think are good:-

*FTSE 100 up significantly
*Govt cost of borrowing has come down significantly
*Bank of england base interest rate about to be reduced, certainly the prospect of a rise has now been kicked into the long grass.
*Business who export are now significantly better off
*Talk of corporation tax being reduced significantly
*if you had the foresight to move some money into USD or yen , then you'll have done alright
* I won my £50 bet that leave would win

* you may disagree, and I respect your right to disagree.

The real problem is farming and manufacturing all burn through a lot of diesel, petrol and oil based products (plastic's, PVC's, rubber, paints etc).. oil is rising and pound is falling = you loose.

Oil is currently around 49$ a barrel and brent (north sea oil) is typically around 55$ to break even and higher (this is recovery & refinery) so Scottish oil is little saviour (hence why most majors are mothballing the north sea until it reached 70$ again.

sadly P-Jay has nailed it.

Not sure that's true. Any evidence to support that we could be self sufficient in food?

I believe we could, we just aren't and we couldn't with existing number of farms / farmers etc. - we still have huge areas of potentially farmable land that's uninhabited.

Of course we could all go Vegan, we could probably go self sufficient now, but what about current Vegan - they'd have to live exclusively from plants that have died of all old age to remain special. 😉

Cameron gone.

Seen who's lined up to replace him? 😕

sadly P-Jay has nailed it.

Is this his second job?...

[img] [/img]

You are quite right that many politcal parties will do anything remotely democratic like asking the people what they think.

FTSE 100 up significantly

in sterling but not dollar terms - and FTSE250 is still well down.

Some seem to think we'll be heading for the glory days of the British Empire again, they mostly seem to be non-professional types....

Yes, but we produce (some of) our oil, which is going to make the north sea slightly more competitive, and make our oil and gas industry competitive (as an industry we export a lot of expertise as well as just the black stuff).

Except that the Brexit effect on economic outlook just pushed down the price of oil a bit more.

Is this his second job?...

Ha ha, no, clearly - I thought we'd vote remain with a 60% majority.

I'm just a drippy IT salesman now, but I used to be in Finance and worked for RBS, I was also part of the Graduate Training scheme and my area was basically explaining simple real-world economics to grads.

And genuinely in 2006 I wrote a sort of essay I needed for a promotion into the training dept. full time, I predicted the 'Great Recession' by 2 years, the 3 people who read it disagreed with me.

To be clear I don't think my tale of woe above will happen, we will remain in some sort of financial partnership with the EU, something akin to the EEA whereby we pay in a smaller amount every year for membership, without rebate or EU funded economic redevelopment projects, we'll still have free movement of workers between the UK and EU as it's a minimum requirement for entry.

I believe our membership fees will be equal to, or more than the net payment we make now - but instead of the % that currently comes back at economic development projects, being spent on such - it 'll will go to the treasury to reduce the deficit as per current thinking and quietly reduce tax liability of corporates and wealthy individuals - it won't go to the NHS, and it certainly won't go on ANY development projects not in the South East of England to improve London's ability to suck more out of the rest of us, like HS2.

We'll lose all voting power in the EU, no more MEPs, we can lobby them of course, but at least some of our future economic health will be decided on by a truly unelected by us body.

It's a much worse deal for most of the population of the UK, but ironically both sides can sell it as a win, so it’ll likely be popular.

Except that the Brexit effect on economic outlook just pushed down the price of oil a bit more.

I'm (begrudgingly, hopefully, naively) pinning my hopes on the markets picking up when we have a new Prime Minister and a plan. Right now the markets are circling the drain because we're a ship cast adrift without a rudder, at least once we've got the steering sorted hopefully things will get back to normal.

I don't think we'll do well in the negotiations, we'll be back to "in Europe, but as a special case", there'll still be free movement and a free market. If we do well we might be able to stop the repatriation of profits (Starbucks, Google, et. al.) but that's best case. So mostly things will be back to normal, just with a year or two of recession.

Over 400million people will be better off.

Surely it must dawn on the politicians that if we do leave the EU, the very best deal that can be reached will involve the same level of migration, the same monies being paid to the EU, the same level of access to markets, the same rights for workers, but absolutely no voting power within the European Parliament?

In that case, the best we can do is to simply not enact Article 50 and explain to the voters that they - we - were duped by the leave campaign's "dishonesty on an industrial scale"?

I mean, it's pragmatic, it's sensible and it saves the economy, banking sector and avoids Scottish independence. However, our politicians opine that leaving is part of a democratic process that needs to be respected, when deciding on a new Prime Minister and a new government which in itself will not be ratified by popular mandate and thus democracy be damned.

Talk of corporation tax being reduced significantly

This might be a good thing for businesses, but when facing a recession how is cutting tax receipts going to help public services? Is it really going to generate investment with all this shit hanging over our heads?

This might be a good thing for businesses, but when facing a recession how is cutting tax receipts going to help public services?

Tories. Modus operandi.

We'll all end up being shafted by big business and we'll have to pick up the tab for it somehow. My guess is that public services will be cut even further, but that we'll still find tens of billions to fund new Trident subs.

Tax cuts on corps and increasing debt in the short-medium term is effectively part of Keynesian economics isn't it? Ie the right thing to do, spend when times are shit to bolster business and growth. Anything that helps growth needs to be encouraged, public investment (eg in the sciences and technology) that helps growth should also be looked at - but not public investment that does nothing to boost the long term outlook of the economy.

So of course, the north is going to get shafted because they are effectively next to useless when it comes to science and technology. All of the engineering and science is in Cambridge and Oxfordshire.

Oh well, personally I hope Sunderland etc end up like potato famine Ireland.

Surely it must dawn on the politicians that if we do leave the EU, (etc.)

Surely it must dawn on you that they don't give a flying fart about all that compared to the effect on their own careers? Hence you now have the ardent Remainers in Tory ranks all gung-ho Leave because they see "party unity" as the road to re-election and their own comfy seat.

it's made the Leavers suddenly realise what idiots they've been, and why a turkey should never vote for Christmas.

Really? My money is on them continuing blaming immigrants/foreigners/the EU, the disabled and those bloody do-gooders.

Surely it must dawn on you that they don't give a flying fart about all that compared to the effect on their own careers?

I was trying to apply logic and reason to the situation, I know full well from the way that both campaigns were conducted that the order of priorities were careers, misleading the electorate, pandering to the Daily Heil/Faily Express/The Scum and the common good of the nation - in that order.

For our part, all we can do is to pester our elected representatives in parliament to let them know our thoughts and to remind them that we'll never, ever forget.

Gove's been humiliated.

errrm, that's it.

In that case, the best we can do is to simply not enact Article 50 and explain to the voters that they - we - were duped by the leave campaign's "dishonesty on an industrial scale"?

ample scope to do that I reckon - the leave campaign focused on so many non-issues.

Tax cuts on corps and increasing debt in the short-medium term is effectively part of Keynesian economics isn't it? Ie the right thing to do, spend when times are shit to bolster business and growth.

but are you not suppossed to save up in the good times so that you have money to invest, whereas our debt is huge.

For the Tories, it's great.

It's the new [i]"... because the mess Labour left us"[/i] catch all excuse.

They can cut back the state, privatise the NHS, schools and cut benefits then when everyone complains blame Brexit.

"The public have made a clear decision! We have a mandate to <insert political ideal not necessarily related to Brexit> and deliver what the public want".

Our company has had record revenues since Brexit.

10% fall in £/$ adds 2p (max ?) to a litre of fuel, hardly earth shattering and dwarfed by the fall in oil price anyway

Great news for British firms who manufacturer and export.

Bad news for those who import or foreign firms who import into the UK.

Mortgage deals getting better as per an early thread on STW.

Cameron, Gideon and others out.

Remain campainger and architect of the massive recession Bliar feeling some heat this week.

There will be a woman PM soon. She could be a new Thatcher (that could be good or bad).

Remain voters (the ones who are scared of change/better the devil you know complain that wealthy offspring and middle class off spring may find it harder to get a job in a fancy European city).

I have a positive outlook on life. Maybe some people should chill out and stop the negativity now.

There will be a woman PM soon.

thats really quite irrelavant

tinas, relying on what we can grow locally would be utterly dismal. No out of season soft fruit or veg, minimal meat (just upland lamb really, arable would have to be devoted to cereals and veg). One of the great benefits of international trade is the diversity of food we can enjoy. Not that there's anything wrong with eating local stuff per se.

the makers of those very small St George flags that stick on car windows have more orders than they know what to do with?

irrelevant

Surely it must dawn on the politicians that if we do leave the EU, the very best deal that can be reached will involve the same level of migration, the same monies being paid to the EU, the same level of access to markets, the same rights for workers, but absolutely no voting power within the European Parliament?

Maybe thats not the very best deal then ! There is a scenario with a collapsing eurozone/EU where no deal is the best deal, we refocus away from the stangnant / shrinking EU (accelerating the exiting trend of a decling trade share with the EU) and we stop making any contributions to the EU budget..

Our voting power in the Parliament is negligible and it doesn't make any laws anyway.. I certainly don't ive a t.ss about so-called influence.

You are quite right that many political parties will do anything remotely democratic like asking the people what they think.

The country now recognizes the benefits of a representative parliamentary decision-making democracy over blunt yes/no voting by the populace. Hard way to learn this lesson, but so be it.

My shares have soared and I'll get more European travel for work because the [url= http://www.politico.eu/article/brexit-vote-sets-off-race-to-seat-ema/ ]EMA will be relocating out of London[/url].

P-Jay nails it - Same net contribution, less influence, but we now have control.

No more politicians from Etonia?