Brexit: The fallout

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"No-deal Brexit will cause UK recession, says fiscal watchdog"

 

Quote

The UK will fall into recession next year if there is a no-deal Brexit, the country's fiscal watchdog has said.

 

The Office for Budget Responsibility (OBR) said economic growth would fall by 2% by the end of 2020 if it left the bloc without an agreement.

 

This would effectively forgo about 18 months of growth in Britain.

Chances of a no-deal outcome have risen recently, after both Tory leadership contenders said they would be willing to leave the EU without a deal.

 

In its first assessment of the economic impact of a no-deal scenario, the OBR said the UK economy would contract in 2020 before recovering in 2021. 

This would come as tariffs of 4% were imposed on goods traded with the EU - up from zero currently - although it does not expect there to be disruption at the border. 

 

In this scenario, "heightened uncertainty and declining confidence" would deter investment, while higher trade barriers with the EU would "weigh on exports".

 

"Together, these push the economy into recession, with asset prices and the pound falling sharply," it said. 

 

It added this would push up public sector borrowing by £30bn.

 

BBC

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2 hours ago, Janx Spirit said:

"No-deal Brexit will cause UK recession, says fiscal watchdog"

 

 

BBC

 

But Rees Mogg insists that it will actually bring in £40 billion, I suppose that someone must have made a small £70 billion error in their calculations. Then again I don't believe a fucking thing he says ;)

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Yeh, saw that, I know the Guardian is centre left but they are having a right go at BoJo, every day there seems to be a new article aimed at discrediting him. Not that he needs any help, just need to have it published in the Telegraph than the Blue rinse brigade might take notice.

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21 hours ago, Wulfrun said:

5d30ac8a8c148_wellslapmewithakipper.jpg.

 

The Isle of Man is not even in the UK !!! :lol:

 

Put kippers on the side of a new red bus, Boris you utterly stupid C*NT!!

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4 hours ago, dom said:

 

The Isle of Man is not even in the UK !!! :lol:

 

Put kippers on the side of a new red bus, Boris you utterly stupid C*NT!!

This goes back to something I said earlier in the thread.

Absolute bollocks said,but it doesn`t matter because the people he aims at believe it no matter the actual facts and that`s all he`s interested in.

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Interesting that after the referendum JRM's investment company set up a subsidiary in Dublin. If brexit was such a good idea why did he have to do that?

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15 hours ago, Bomo said:

Interesting that after the referendum JRM's investment company set up a subsidiary in Dublin. If brexit was such a good idea why did he have to do that?

His business follows a different logic than his political ideology. This disjuncture is fascinating. @Bomo Can you post a link?

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On 19.7.2019, 16:33:39, dom said:

 

The Isle of Man is not even in the UK !!! :lol:

 

 

They had that picture as part of a full page story in our local newspaper today!

They did mention that IoM is not in the UK & that the regulation was a British one.

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