Brexit Economics Lesson 2 - Tax rises and Spending Cuts

[SueEllen]

EU free market not possible without rules on state aid

They did get state aid. Sorry I can't be bothered to search now but there is information out there that makes it clear the UK government were very helpful.

[AtW]

You missed my point. It was Gideon who stated we were in a position of strength. He also seemed unsure as to whether or not we need an emergency budget.

You forget, tax rises and cuts were always coming. Current state is not going to clear the deficit. The only difference is that now, either he or the next person can blame Brexit. We're getting it regardless.

No, we will be getting it because of Brexit!!! They already increased taxes a lot, but now they'll have another big excuse and it's the fault of idiots like yourself.

[AtW]

They did get state aid. Sorry I can't be bothered to search now but there is information out there that makes it clear the UK government were very helpful.

State aid is ok if it follows EU rules or EU agrees to make exception - that happened when banks were bailed out in UK.

They won't agreed to single market if UK is outside of rules for state aid - that just won't happen.

[GB9]

No, we will be getting it because of Brexit!!! They already increased taxes a lot, but now they'll have another big excuse and it's the fault of idiots like yourself.

You were getting tax rises regardless.

You also made it clear you are only acting in your own short term interest.

You can call me an idiot if you like, but I haven't lost a load of cash betting the wrong way.

[bobspud]

State Aid Guidance

https://www.gov.uk/guidance/state-aid

[AtW]

You were getting tax rises regardless.

Tax increases were already implemented LAST year - they always try to get that out of the way as soon as election is over, however now new PM and new chancellor (thanks to you) will wash their hands and say in new circumstances there will be NEW BIG tax increases, thanks to idiots like yourself - hopefully you earn enough to pay those extra taxes too, it will only be fair.

You also made it clear you are only acting in your own short term interest. You can call me an idiot if you like, but I haven't lost a load of cash betting the wrong way.

I voted to Remain, so I acted in a long term interest of the country, but as a precaution in case of wrong vote I kept USD/EUR unchanged until decision was known - it was sensible business decision because downside was much bigger than upside.

My short term interest indeed benefits from Brexit uncertainty, I always declared it and always said that despite of expected benefits I'd be still voting Remain, which I did. What more could I do - give up extra devalued pounds? Well, I plan to put a lot into charity this year, so I guess that's where extra money will go.

The real fun will be when Tories totally fook over pension system by pretty much removing reliefs - they will keep EXISTING pensioners sweet, but future generation who voted to Remain will be fooked over now, btw - I won't be directly affected in this either because I don't believe in pension system as it's one big con, however those idiots will crash the pension industry as we know it real quick, nice cherry on the Brexit cake.