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I guess the Brexiters will simply say this is is just more 'Project Fear'.
..The British Chamber of Commerce( Sirja: That group of Brit hatting lefties) said Monday it now expects a sharp slowdown in growth before 2019, and that could leave the economy £43.8 billion ($58.4 billion) smaller than it previously anticipated. The group represents about 92,000 U.K. businesses.
In chopping down its estimates, the BCC now foresees gross domestic product expanding by a 1.8% rate this year, compared with its previous estimate of 2.2%. The estimate for 2017 has been pulled to 1% from 2.3%. For 2018, the rate should come in at 1.8%, but still slower than the BCC’s previous forecast of 2.4%.(Sirja: There are some numbers for you GB9)
This was the first economic forecast the BCC has issued since the U.K. voted to leave the European Union in a June 23 referendum.
“While the longer-term outlook for the U.K. economy is highly uncertain the risks are on balance tilted to the downside, with the deep-rooted structural issues, such the size of the U.K.’s current account deficit, leaving the U.K. increasingly exposed to economic shocks,” said Suren Thiru, BCC’s head of economics, in a statement.
The U.K. government has yet to trigger Article 50, which will kick off the start of formal talks with the EU about the terms of the U.K.’s exit from the bloc, or Brexit.
A decline in spending by consumers and a large fall in investment were the main drivers behind the BCC’s downgrades.
“Our forecast suggests that the U.K. is likely to avoid a recession, but with the health warning that businesses are still digesting the result of June’s EU referendum and the challenges and opportunities to come,” said Adam Marshall, acting director general of the BCC.
Intelligent people change their mind if the evidence doesn't back up their beliefs, but the number of intelligent people is low.
The vast majority make up their mind first, then ignore evidence that conflicts with their opinion.
Still I think its highly significant that Liam Fox is looking to play the blame game so early in the process - suggests to me even he doesn't believe a good outcome is possible.
Do you think that maybe, just maybe, a lot of countries really do not want a huge influx of people who need to be fed, clothed, housed at the very least.
Especially when it is a fact that a small number of those people have committed terrorist acts?
And do you think those that make the rules who sit in their ivory towers never experiencing or seeing the actual real wold impact should be taken out and shot at dawn for making decisions which makes them and their chums richer via cheap labour rather than doing what is best for the populace who voted for them?
Do you think that maybe, just maybe, a lot of countries really do not want a huge influx of people who need to be fed, clothed, housed at the very least.
Especially when it is a fact that a small number of those people have committed terrorist acts?
Didn't the UK do that with the Irish at one point?
“Brexit is having a wee in the middle of the room at a house party because nobody is talking to you, and then complaining about the smell.”
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