Now that the election is over, we can focus on Brexit's impact on the economy - HotUKDeals
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Now that the election is over, we can focus on Brexit's impact on the economy

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Retail sale volumes fell 1.2 per cent in May, worse than the 0.8 per cent decline City economists had expected, according to the Office for National Statistics. Inflation rose to 2.9% last month too.… Read More
HotEnglishAndWelshDeals Avatar
1w, 3d agoPosted 1 week, 3 days ago
Retail sale volumes fell 1.2 per cent in May, worse than the 0.8 per cent decline City economists had expected, according to the Office for National Statistics.

Inflation rose to 2.9% last month too.

Consumer confidence down, credit spending at record levels.

A survey of EU nationals employed at FTSE 250 companies showed that 56 per cent said they were “highly likely” or “quite likely” to leave the UK before the conclusion of the Brexit talks.

Healthcare will be the hardest hit, with 84 per cent of employees in the sector saying they would leave. Technology, media, telecoms and financial services will also see big losses of talent, according to the survey.
HotEnglishAndWelshDeals Avatar
1w, 3d agoPosted 1 week, 3 days ago
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#1
All quotes from the Indy because why not.

Anyone who is planning on going on holiday should get their Euros now. There's really not a single piece of good news about the economy because of Brexit, save for manufacturing being slightly up because of the weak £.

Still, anything that requires parts imported or foreign labour is going to be in trouble. The first bit of bad news from the negotiations could see things tumble.
#2
https://static.independent.co.uk/s3fs-public/styles/story_medium/public/thumbnails/image/2016/07/27/09/statista-wage-growth.jpeg
'Retail sale volumes fell 1.2 per cent in May'
Majority of people have less and less to spend
7 Likes #3
Tthe truth is that in the next 15 months we are about to dismantle an economy that has taken us 40 years to build and which will take us the next 50 years to recover"
#4
whorlow
https://static.independent.co.uk/s3fs-public/styles/story_medium/public/thumbnails/image/2016/07/27/09/statista-wage-growth.jpeg
'Retail sale volumes fell 1.2 per cent in May'
Majority of people have less and less to spend

That's a trend that was reversed in 2016 but Brexit seems to have destroyed that almost immediately.
4 Likes #5
You were focusing on Brexit way before the election lol.
5 Likes #6
whorlow
'Retail sale volumes fell 1.2 per cent in May'Majority of people have less and less to spend


And this occurred pre-brexit as were numerous cuts to benefits and services that will have an economic effect. Sometimes it's easy to blame something else.

Pre brexit uncertainty is going to continue until the end of negotiations, until then it's all dull, repetitive speculation.
#7
HotEnglishAndWelshDeals
Retail sale volumes fell 1.2 per cent in May, worse than the 0.8 per cent decline City economists had expected, according to the Office for National Statistics.Inflation rose to 2.9% last month too.Consumer confidence down, credit spending at record levels.A survey of EU nationals employed at FTSE 250 companies showed that 56 per cent said they were “highly likely” or “quite likely” to leave the UK before the conclusion of the Brexit talks. Healthcare will be the hardest hit, with 84 per cent of employees in the sector saying they would leave. Technology, media, telecoms and financial services will also see big losses of talent, according to the survey.

You sound like a party political broadcast.
#8
Parrot
Tthe truth is that in the next 15 months we are about to dismantle an economy that has taken us 40 years to build and which will take us the next 50 years to recover"

Nicely put, although very sobering.

What will be interesting is to see what the economy of 50 years time is based on.
2 Likes #9
delusion
whorlow
https://static.independent.co.uk/s3fs-public/styles/story_medium/public/thumbnails/image/2016/07/27/09/statista-wage-growth.jpeg
'Retail sale volumes fell 1.2 per cent in May'
Majority of people have less and less to spend
And this occurred pre-brexit as were numerous cuts to benefits and services that will have an economic effect. Sometimes it's easy to blame something else.
Pre brexit uncertainty is going to continue until the end of negotiations, until then it's all dull, repetitive speculation.

Agree to a point, but the clear impact of Brexit on currency markets, and by extension, inflation, is anything but speculation. It's very real, and it's happening now.
#10
purplehornet
delusion
whorlow
https://static.independent.co.uk/s3fs-public/styles/story_medium/public/thumbnails/image/2016/07/27/09/statista-wage-growth.jpeg
'Retail sale volumes fell 1.2 per cent in May'
Majority of people have less and less to spend
And this occurred pre-brexit as were numerous cuts to benefits and services that will have an economic effect. Sometimes it's easy to blame something else.
Pre brexit uncertainty is going to continue until the end of negotiations, until then it's all dull, repetitive speculation.
Agree to a point, but the clear impact of Brexit on currency markets, and by extension, inflation, is anything but speculation. It's very real, and it's happening now.

I'm not saying there is no effect, just that this is not the only factor.

The government is where the issue is. Ironic a number of remainers voted tory when they are the party that have got us here.
#11
delusion
purplehornet
delusion
whorlow
https://static.independent.co.uk/s3fs-public/styles/story_medium/public/thumbnails/image/2016/07/27/09/statista-wage-growth.jpeg
'Retail sale volumes fell 1.2 per cent in May'
Majority of people have less and less to spend
And this occurred pre-brexit as were numerous cuts to benefits and services that will have an economic effect. Sometimes it's easy to blame something else.
Pre brexit uncertainty is going to continue until the end of negotiations, until then it's all dull, repetitive speculation.
Agree to a point, but the clear impact of Brexit on currency markets, and by extension, inflation, is anything but speculation. It's very real, and it's happening now.
I'm not saying there is no effect, just that this is not the only factor.
The government is where the issue is. Ironic a number of remainers voted tory when they are the party that have got us here.

The Tories were responsible for the referendum that will damage this country's economy for decades.

But voting in someone like Corbyn who would make us even more unattractive to foreign investment seemed like compounding one stupid decision with another.

Sadly we don't seem to have any major party committed to not messing up the economy completely.
1 Like #12
HotEnglishAndWelshDeals
delusion
purplehornet
delusion
whorlow
https://static.independent.co.uk/s3fs-public/styles/story_medium/public/thumbnails/image/2016/07/27/09/statista-wage-growth.jpeg
'Retail sale volumes fell 1.2 per cent in May'
Majority of people have less and less to spend
And this occurred pre-brexit as were numerous cuts to benefits and services that will have an economic effect. Sometimes it's easy to blame something else.
Pre brexit uncertainty is going to continue until the end of negotiations, until then it's all dull, repetitive speculation.
Agree to a point, but the clear impact of Brexit on currency markets, and by extension, inflation, is anything but speculation. It's very real, and it's happening now.
I'm not saying there is no effect, just that this is not the only factor.
The government is where the issue is. Ironic a number of remainers voted tory when they are the party that have got us here.
The Tories were responsible for the referendum that will damage this country's economy for decades.
But voting in someone like Corbyn who would make us even more unattractive to foreign investment seemed like compounding one stupid decision with another.
Sadly we don't seem to have any major party committed to not messing up the economy completely.

I don't disagree, and I don't have an answer. But the government is the cause of all of this (referendum and now their messy unclear stance pre-negotiations). They have been reelected despite decisions outside of brexit plans also being very questionable, it's a shame.

When the dust settles they will be the ones accountable, and that's the biggest uncertainty for me. It's a long road.
#13
It's worse now with the Tories in. We're has the money gone with all the cuts they made already
#14
dorey69
It's worse now with the Tories in. We're has the money gone with all the cuts they made already

I'll trigger some people by mentioning our deficit spending, but the cuts have actually coincided with the gap between what the government brings in and what it spends shrinking.

The problem is we're not keeping more money, we're simply not spending more than we have in such great sums.
1 Like #15
Quick PANIC!!!!!

https://images.hotukdeals.com/comments/content/3P9Ln/31204497.jpg
4 Likes #16
http://www.profitf.com/wp-content/uploads/2016/06/brexit-funny-pictures-1-800x533.jpg
#17
whorlow
https://static.independent.co.uk/s3fs-public/styles/story_medium/public/thumbnails/image/2016/07/27/09/statista-wage-growth.jpeg
'Retail sale volumes fell 1.2 per cent in May'
Majority of people have less and less to spend
It also depends who wages are growing for.

For example:

Bill Gates draws an extra three billion one year.

According to mean figures every worker in the UK got a £100 a year pay rise (number of UK workers divided by Bill Gates bonus).

What we're seeing is a lot is decent growth for quite a small section of society (myself included) and **** all growth for anyone else.

Little wonder Corbyn is making hay with his "Many Not The Few" mantra.

Don't worry... it'll all trickle down. Honest.



Edited By: CaptainSocks on Jun 15, 2017 13:15
6 Likes #18
Funny how when Brexiters previously mentioned the lack of impact since the referendum, Remainers said "its not happened yet", then when things like this are published, Remainers start saying its because of Brexit?!?

I think no one will know the true consequences until this is all done. When the UK leaves the EU and budget pressures hit the remaining states, the whole bloc could separate...... who knows?? HEAWD is (and has always) only offering one sided propaganda. Put it this way, Public Sector pay has been locked at 1% WAY before Brexit was even mentioned, the deficit has been unmanageable since before Brexit too, this is just a good excuse for the fact that we have sold off all of our manufacturing and have been living beyond our means :D
#19
I'm really bored of brexit, I was expecting some big issues coming from it but all that happened was a small drop in the stock market.
Not to say others haven't been effected more than me, but I did expect a bigger impact in my own life.
2 Likes #20
Brexit is going to happen no matter how hard/soft/whatever it is so what is the point in continually talking about it? I voted remain but am bored to death of it now.
#21
HotEnglishAndWelshDeals
I'll trigger some people by mentioning our deficit spending, but the cuts have actually coincided with the gap between what the government brings in and what it spends shrinking.The problem is we're not keeping more money, we're simply not spending more than we have in such great sums.

But the government could easily turn the deficit into a surplus, which would mean reducing debt for the first time since 2001, by just putting a couple of pence on income and corporation taxes and VAT.

They'd be hard pressed to make themselves more unpopular with the voters than they are now. So why do you think that they won't do that?
2 Likes #22
whorlow
https://static.independent.co.uk/s3fs-public/styles/story_medium/public/thumbnails/image/2016/07/27/09/statista-wage-growth.jpeg
'Retail sale volumes fell 1.2 per cent in May'
Majority of people have less and less to spend
Poland being the highest wage growth had to happen to stop the mass exodus of labour from their market and the polish were concerned about Ukraine imported workers undercutting them and driving wages down .
Sound familiar?
#23
plodging
whorlow
https://static.independent.co.uk/s3fs-public/styles/story_medium/public/thumbnails/image/2016/07/27/09/statista-wage-growth.jpeg
'Retail sale volumes fell 1.2 per cent in May'
Majority of people have less and less to spend
Poland being the highest wage growth had to happen to stop the mass exodus of labour from their market and the polish were concerned about Ukraine imported workers undercutting them and driving wages down .
Sound familiar?
So all the polish companies decided amongst themselves to increase wages?
1 Like #24
frakison
Funny how when Brexiters previously mentioned the lack of impact since the referendum, Remainers said "its not happened yet", then when things like this are published, Remainers start saying its because of Brexit?!?
I think no one will know the true consequences until this is all done. When the UK leaves the EU and budget pressures hit the remaining states, the whole bloc could separate...... who knows?? HEAWD is (and has always) only offering one sided propaganda. Put it this way, Public Sector pay has been locked at 1% WAY before Brexit was even mentioned, the deficit has been unmanageable since before Brexit too, this is just a good excuse for the fact that we have sold off all of our manufacturing and have been living beyond our means :)
It doesn't matter how much factual information or observations you and many others, past, present and future give in the voice of Winston Churchill "the OP will never accept it and surrender but we will fight him on his threads and comments and this will be our finest hour"

Did I go too far?
2 Likes #25
cdm22
Brexit is going to happen no matter how hard/soft/whatever it is so what is the point in continually talking about it? I voted remain but am bored to death of it now.

The difference is, you can take it on the chin.

Others will cry till the cows come home... As we've seen and continue to see.

For all your brexit developments please come back to the misk soon where you'll be updated on any negative news that arises.
#26
I think I'll vote for Brexit, what about you?
1 Like #27
IKEA have announced they will open a manufacturing plant in the UK post brexit.
#28
CoeK
plodging
whorlow
https://static.independent.co.uk/s3fs-public/styles/story_medium/public/thumbnails/image/2016/07/27/09/statista-wage-growth.jpeg
'Retail sale volumes fell 1.2 per cent in May'
Majority of people have less and less to spend
Poland being the highest wage growth had to happen to stop the mass exodus of labour from their market and the polish were concerned about Ukraine imported workers undercutting them and driving wages down .
Sound familiar?
So all the polish companies decided amongst themselves to increase wages?
Not really but they had to increase wages to keep the talented , unlike this country who relied on immigrant labour to fill the millions of jobs on minimum wage and keep wages at record low growth rather than offer realistic pay. The fact is our main supply (Poland) has upped its wages and with the drop in the pound EU workers are getting less when they change it over.

Edited By: plodging on Jun 15, 2017 16:08
#29
davewave
I think I'll vote for Brexit, what about you?

It is a silly name really, I think it should have been called great brexit. Britain can't leave Europe.
1 Like #30
plodging
CoeK
plodging
whorlow
https://static.independent.co.uk/s3fs-public/styles/story_medium/public/thumbnails/image/2016/07/27/09/statista-wage-growth.jpeg
'Retail sale volumes fell 1.2 per cent in May'
Majority of people have less and less to spend
Poland being the highest wage growth had to happen to stop the mass exodus of labour from their market and the polish were concerned about Ukraine imported workers undercutting them and driving wages down .
Sound familiar?
So all the polish companies decided amongst themselves to increase wages?
Not really but they had to increase wages to keep the talented , unlike this country who relied on immigrant labour to fill the millions of jobs on minimum wage and keep wages at record low growth rather than offer realistic pay

So it is basically supply and demand. Demand wasn't filled by all the Ukrainian workers?

I wouldn't worry, all those immigrants will soon be going for a better life in Poland. Shame about brexit, I could have got a job in Poland and sent money back here for my family.
#31
J4GG4
You were focusing on Brexit way before the election lol.
Should be called Broundaboutexit.
#32
People's spending power has diminished as we are all spending more on increasing mortgages and rental costs.
#33
POWYSWALES
People's spending power has diminished as we are all spending more on increasing mortgages and rental costs.


That wouldn't cause inflation to go up though.

Easiest way to control inflation is to increase interest rates.
#34
J4GG4
cdm22
Brexit is going to happen no matter how hard/soft/whatever it is so what is the point in continually talking about it? I voted remain but am bored to death of it now.
The difference is, you can take it on the chin.
Others will cry till the cows come home... As we've seen and continue to see.
For all your brexit developments please come back to the misk soon where you'll be updated on any negative news that arises.

You mean like you are crying now??

No one thought the EU was some glorious utopia but it was the only viable option.

As is being proven now.
2 Likes #35
CoeK
plodging
CoeK
plodging
whorlow
https://static.independent.co.uk/s3fs-public/styles/story_medium/public/thumbnails/image/2016/07/27/09/statista-wage-growth.jpeg
'Retail sale volumes fell 1.2 per cent in May'
Majority of people have less and less to spend
Poland being the highest wage growth had to happen to stop the mass exodus of labour from their market and the polish were concerned about Ukraine imported workers undercutting them and driving wages down .
Sound familiar?
So all the polish companies decided amongst themselves to increase wages?
Not really but they had to increase wages to keep the talented , unlike this country who relied on immigrant labour to fill the millions of jobs on minimum wage and keep wages at record low growth rather than offer realistic pay
So it is basically supply and demand. Demand wasn't filled by all the Ukrainian workers?
I wouldn't worry, all those immigrants will soon be going for a better life in Poland. Shame about brexit, I could have got a job in Poland and sent money back here for my family.
The Ukrainians working in Poland have to jump through hoops to work there (often for £1.50 an hour ) getting permission to do one job then have to reapply if they want to change jobs risking losing the right to stay there at the same time . Poland lost so many young educated people ,it's had a knock on effect that schools are closing because not enough kids . Employers are raising wages , as is the government with increased minimum wage as they are looking at a population drop of about 5 million if the exodus continues .
The British solution meanwhile, has been to suppress wages until they have reached a level that even the exploited EU immigrants don't find them that attractive anymore.
#36
plodging
CoeK
plodging
CoeK
plodging
whorlow
https://static.independent.co.uk/s3fs-public/styles/story_medium/public/thumbnails/image/2016/07/27/09/statista-wage-growth.jpeg
'Retail sale volumes fell 1.2 per cent in May'
Majority of people have less and less to spend
Poland being the highest wage growth had to happen to stop the mass exodus of labour from their market and the polish were concerned about Ukraine imported workers undercutting them and driving wages down .
Sound familiar?
So all the polish companies decided amongst themselves to increase wages?
Not really but they had to increase wages to keep the talented , unlike this country who relied on immigrant labour to fill the millions of jobs on minimum wage and keep wages at record low growth rather than offer realistic pay
So it is basically supply and demand. Demand wasn't filled by all the Ukrainian workers?
I wouldn't worry, all those immigrants will soon be going for a better life in Poland. Shame about brexit, I could have got a job in Poland and sent money back here for my family.
The Ukrainians working in Poland have to jump through hoops to work there (often for £1.50 an hour ) getting permission to do one job then have to reapply if they want to change jobs risking losing the right to stay there at the same time . Poland lost so many young educated people ,it's had a knock on effect that schools are closing because not enough kids . Employers are raising wages , as is the government with increased minimum wage as they are looking at a population drop of about 5 million if the exodus continues .
The British solution meanwhile, has been to suppress wages until they have reached a level that even the exploited EU immigrants don't find them that attractive anymore.


I don't really get it. Are wages supply and demand or not?
1 Like #37
CoeK
I'm really bored of brexit, I was expecting some big issues coming from it but all that happened was a small drop in the stock market.
Not to say others haven't been effected more than me, but I did expect a bigger impact in my own life.
I think you'll find the Stock Market has boomed to record levels since the Referendum. However, let's not dwell on the positive.

As a neutral, I do find the argument for Brexit most pursuasive.
1 Like #38
I think you'll find 'happened' and 'was' are past tense. But let's not dwell on the meaning of words.

As a neutral I don't find the claim that you are neutral persuasive in the slightest. However I do find your attempt to spell persuasive amusing so there is always a positive.
#39
Towelie
You mean like you are crying now?? No one thought the EU was some glorious utopia but it was the only viable option. As is being proven now.

Which part of my comment makes you think im crying?.

The last part?, actually i find that absolutely hilarious, because no matter how much is discussed about this on a MISK section of a shopping forum, nothing will make anything change.

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