• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

Tory Brexit DOOM™: UK economy 4.8 per cent smaller

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    Tory Brexit DOOM™: UK economy 4.8 per cent smaller

    Brexit could cost UK Treasury tens of billions in lost tax revenue, says Office for Budget Responsibility

    The Treasury's official watchdog has highlighted the significant risk posed by Brexit to the UK's public finances in a new report.

    The Office for Budget Responsibility, in its Fiscal Risk Report published on Thursday, said that a possible Brexit “divorce bill", which some have suggested could be up to €100bn (£88bn), would only be a “one-off hit” to the Exchequer and that the far bigger risk related to the damage that leaving the EU could do to the UK’s long-term growth rate.

    It said that if Brexit ended up reducing the UK’s annual trend productivity growth rate – the amount the UK produces per hour of labour – by just 0.1 per cent over 50 years, the economy would be 4.8 per cent smaller than otherwise.

    That would be equivalent to a cost in lost GDP of almost £100bn in today's money – which would translate into a £36bn hit to tax revenues.

    Theresa May’s Government has not commissioned an official report on the long-term economic impact of Brexit, but before last June's referendum the Treasury produced an analysis which argued that leaving the EU would impact negatively on the UK’s productivity growth by reducing EU trade and curbing foreign investment in the UK. Both are seen as having an outsized impact on productivity.

    Brexit could cost UK Treasury tens of billions in lost tax revenue, says Office for Budget Responsibility | The Independent

    Nice, very nice - doing Brexit without getting report on long-term economic impact, I guess they already know what it will be.

    #2
    Lots of "could be" in that article

    Please report back with actuals
    How fortunate for governments that the people they administer don't think

    Comment


      #3
      Originally posted by Troll View Post
      Lots of "could be" in that article

      Please report back with actuals
      Can you name lots of "could be" positives about Brexit? Even the government has given up on the positives.
      "A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices," George Orwell

      Comment


        #4
        Originally posted by Troll View Post
        Lots of "could be" in that article

        Please report back with actuals
        We'll get actuals in a few years. Every heard of planning ahead on what could or even likely to happen?

        Comment


          #5
          Originally posted by Paddy View Post
          Can you name lots of "could be" positives about Brexit? Even the government has given up on the positives.
          We can ban Scooter & Paddy at the border without the ECH over ruling us.

          sorted easily worth 4.8%
          Always forgive your enemies; nothing annoys them so much.

          Comment


            #6
            Every heard of planning ahead on what could or even likely to happen?
            Like large numbers of the Albanian or Kosovan Mafia adding to our crime if they are let into the EU?

            https://www.theguardian.com/world/2000/mar/13/balkans
            https://www.theguardian.com/uk/1999/sep/07/nickhopkins
            http://www.deadlinenews.co.uk/2012/0...ign-gangsters/
            Last edited by xoggoth; 13 July 2017, 21:16.
            bloggoth

            If everything isn't black and white, I say, 'Why the hell not?'
            John Wayne (My guru, not to be confused with my beloved prophet Jeremy Clarkson)

            Comment


              #7
              Originally posted by xoggoth View Post
              Like large numbers of the Albanian or Kosovan Mafia adding to our crime if they are let into the EU?
              So they will be quacking in their boots after Brexit when Britain will insist on visas? Poor sods, that really blocks them from Eldorado.

              Comment


                #8
                Serbia is on the accession list too:

                As more alcohol is consumed, the chances of an intoxicated aggressor targeting victims simply because they are foreigners increases. These incidents often escalate without warning. A number of these establishments are owned by Balkan organized crime elements and serve as social clubs and bases of operation for criminal gang members who carry out the day-to-day criminal activities of their respective clans.

                Serbia has a large contingent of extreme sport clubs that support professional sports teams. Members of teams’ fan groups are often between the ages of 15-25 and are commonly referred to locally as “football hooligans.” A number of fan clubs have very strong ties to criminal, right-wing, and ultra-nationalist organizations.
                https://www.osac.gov/pages/ContentRe...aspx?cid=13788

                Do they look like they will give us a less racist and tolerant society? Sooner see a big drop in our economy than have free movement with any of the accession countries.
                bloggoth

                If everything isn't black and white, I say, 'Why the hell not?'
                John Wayne (My guru, not to be confused with my beloved prophet Jeremy Clarkson)

                Comment


                  #9
                  Originally posted by xoggoth View Post
                  Serbia is on the accession list too:
                  Soon Ukraine will join too.

                  Comment


                    #10
                    So they will be quacking in their boots after Brexit when Britain will insist on visas? Poor sods, that really blocks them from Eldorado
                    ??? I used to have a high opinion of you but little you say makes any sense anymore. Look up reasoned argument in the dictionary. All you ever do these days is just quote stuff you've read then go into ArseGuru mode if anyone challenges it. Without the cretin stuff admittedly, give you credit for that.
                    Last edited by xoggoth; 13 July 2017, 21:36.
                    bloggoth

                    If everything isn't black and white, I say, 'Why the hell not?'
                    John Wayne (My guru, not to be confused with my beloved prophet Jeremy Clarkson)

                    Comment

                    Working...
                    X