Carney says Brexit already costing UK economy £10B per year

[original PM]

Before the referendum was called London was booming. Goldman Sachs. JP Morgan and Bloomberg had plans to make London their HQ. When the referendum was called their plans were put on hold and now a few months after the referendum they plan to reverse those plans and consolidate in New York instead.

The week after the referendum on the radio in Frankfurt it was announced that a local chemical manufacturer had shelved a plan to build a factory in the UK and was building it in Germany instead.

My sister in law has told me the IT center she works in for a major European manufacturer will be relocated to Barcelona.

Make no mistake the UK would have been booming now without the uncertainty.

The Uk would have been doing exactly what the EU told us to do.

So GS,JPM and BB are now consolidating in the US - why would they not be just opening an office on Mainland Europe?

What was the benefit of opening offices in London if it was not to access the European Market?

And why is that no longer relevant given they are staying in NY?

Do we believe any of these stories?

Seems that we have a lot of people saying if we had not left the EU x,y and z would have happened but on even the most cursory of investigation the benefits of moving to the UK seem to turn to vapour.

[BlasterBates]

The Uk would have been doing exactly what the EU told us to do.

So GS,JPM and BB are now consolidating in the US - why would they not be just opening an office on Mainland Europe?

What was the benefit of opening offices in London if it was not to access the European Market?

And why is that no longer relevant given they are staying in NY?

Do we believe any of these stories?

Seems that we have a lot of people saying if we had not left the EU x,y and z would have happened but on even the most cursory of investigation the benefits of moving to the UK seem to turn to vapour.

Indeed London was a major hub to access the European market and with the infrastructure can supply other regions as well. However their current plan is to have local staff in Germany to access EU customers and support staff in New York, why bother with London, when they can have global operations staff in New York. Fact is the EU is a huge market for Goldman and being in London is pointless they might as well provide the necessary expertise and support from New York.

[Hobosapien]

... Given that we are very close to full employment, ...

Keep drinking the kool aid, or whatever the UK equivalent is.

Unemployed have become the underemployed, relying and often taking advantage of working tax credits to work part time but receive equivalent to a full time wage.

Then there's the teens either going into further/higher education or apprenticeships, keeping them off the dole for longer, or those doing the single mum benefits lifestyle experience.

Then there's the zero hours contracts so even those supposedly in full time work are on below minimum wage due to not always being given enough work.

I'm sure there are other things the govermin have done and are doing to make the outlook look better than it should look.

[tomtomagain]

Keep drinking the kool aid, or whatever the UK equivalent is.

I have no idea what Kook-aid is or why I'd drink it.

Which bit of the UK are you in? Your description does not match my reality at all.

[tomtomagain]

Before the referendum was called London was booming. Goldman Sachs. JP Morgan and Bloomberg had plans to make London their HQ. When the referendum was called their plans were put on hold and now a few months after the referendum they plan to reverse those plans and consolidate in New York instead.

The week after the referendum on the radio in Frankfurt it was announced that a local chemical manufacturer had shelved a plan to build a factory in the UK and was building it in Germany instead.

My sister in law has told me the IT center she works in for a major European manufacturer will be relocated to Barcelona.

Make no mistake the UK would have been booming now without the uncertainty.

Which bit of the UK do you live in? I am in the SE. It is booming.

[BlasterBates]

Which bit of the UK do you live in? I am in the SE. It is booming.

The latest 1.5% growth figure and pay rises below inflation rates says it all really. My brother and his family are not going on their annual ski holiday this year, need to tighten their belts, and my brother in law is still looking for a job.

.....and the phones out of London are silent.

[tomtomagain]

The latest 1.5% growth figure says it all really.

That's just it.

I don't think they say it at all.

Which bit of the UK do you live in? Personally for me in the SE things for me, my family & friends seem to be working out very well.

My family up North isn't suffering either.

I'm not saying that everything is perfect, there are always pockets of deprivation and communities that are not doing as well as they could be, but that's usually transitory.

If your only experience of the UK is based on the news you'd think that everything was awful and it was doom and gloom all around.

But the reality for the majority of people is that things are not so bad at all.

[Eirikur]

The UK was lucky to be in a period of world wide economical growth during and after the referendum. If there was just a little or no growth the consequences of the referendum outcome would have been devastating. The impact is there now and visible as Carney rightly says, but brexidiots experience it as no impact, because there is still growth, but what they conveniently ignore is that the growth in most other economic powerhouses is twice that of the UK or even better

[tomtomagain]

The UK was lucky to be in a period of world wide economical growth during and after the referendum.

What has luck to do with it?

The UK economy was growing and, indeed, is still growing due to a number of factors, including but not limited to:

* The management of the economy post 2008
* The hard work of the British
* The well-educated workforce
* The flexible labour market

The UK will continue to grow and prosper whatever the outcome of BREXIT.

Obviously, you have had your nose put out by the decision to leave the EU, but it was a democratic decision so you'll just have to accept it.

I know that you desperately want the UK to fail but it's not happening and it's not going to happen.

[Eirikur]

What has luck to do with it?

The UK economy was growing and, indeed, is still growing due to a number of factors, including but not limited to:

* The management of the economy post 2008
* The hard work of the British
* The well-educated workforce
* The flexible labour market

The UK will continue to grow and prosper whatever the outcome of BREXIT.

Obviously, you have had your nose put out by the decision to leave the EU, but it was a democratic decision so you'll just have to accept it.

I know that you desperately want the UK to fail but it's not happening and it's not going to happen.

Keep on dreaming

Oh and if you're so democratic why not a second referendum, parliament is elected every 4 years which is considered democratic, so why is this suddenly not possible with referenda?