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  1. #1
    AtW
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    Default 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. #2

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    Lots of "could be" in that article

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

  3. #3

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    Quote 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.
    “Join the army, travel to exotic distant lands, meet exciting and unusual people . . . and kill them”

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  4. #4
    AtW
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    Quote 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?

  5. #5

    I live on CUK

    vetran is a fount of knowledge

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    Quote 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%
    "If you didn't do anything that wasn't good for you it would be a very dull life. What are you gonna do? Everything that is pleasant in life is dangerous."

    I want to see the hand of history on his collar.

  6. #6

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    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; 13th July 2017 at 21:16.
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    AtW
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    Quote 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.

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    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

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

  10. #10

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    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; 13th July 2017 at 21:36.
    bloggoth

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