Oh Britain, what have you done (part XXII)?
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HairyHaggis
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"UK economy faces 'longest fall in living standards in 60 years"
http://www.bbc.co.uk/news/business-42087881
http://www.bbc.co.uk/news/business-42087881
magnificent!
"The UK is on course for its longest fall in living standards since records began over 60 years ago, the Resolution Foundation think tank has said."
i wonder what else we can look forward to as the hard-right of the tory party drives us all towards their dream of a regulation-free tax-haven. all done in the name of the will_of_the_people of course! when oh when will the great british electorate wake up to what is being done to them? why do some people still insist of seeing any kind of benefit in this hugely expensive and damaging act of self-mutilation? and still actually contrive justifications for it all...we are heading back 40 years at least. how long before ration cards are issued?
http://www.bbc.co.uk/news/business-42087881
http://www.bbc.co.uk/news/business-42087881
http://www.bbc.co.uk/news/business-42087881
magnificent!
"The UK is on course for its longest fall in living standards since records began over 60 years ago, the Resolution Foundation think tank has said."
i wonder what else we can look forward to as the hard-right of the tory party drives us all towards their dream of a regulation-free tax-haven. all done in the name of the will_of_the_people of course! when oh when will the great british electorate wake up to what is being done to them? why do some people still insist of seeing any kind of benefit in this hugely expensive and damaging act of self-mutilation? and still actually contrive justifications for it all...we are heading back 40 years at least. how long before ration cards are issued?
http://www.bbc.co.uk/news/business-42087881
The Far North
pfm Member
And more from the same BBC website:
The post-Budget analysis by the Resolution Foundation also warns that poorer families are likely to be hardest hit.
It suggests that the poorest third of households are set to be more than £700 a year worse off, while tax and benefit policies will hand more than £180 to the richest third.
When you dig into the Budget to look at what it means for family finances, it's a "pretty grim picture", says Torsten Bell of the Resolution Foundation, a think tank that focuses on inequality issues.
"Pay is expected to be nearly £1,000 a year less than the Office of Budget Responsibility previously thought, and family's incomes are being projected to have a prolonged stagnation over the next few years, actually for a longer period than the stagnation we saw immediately after the financial crisis. It's not as deep, but it's longer."
The post-Budget analysis by the Resolution Foundation also warns that poorer families are likely to be hardest hit.
It suggests that the poorest third of households are set to be more than £700 a year worse off, while tax and benefit policies will hand more than £180 to the richest third.
When you dig into the Budget to look at what it means for family finances, it's a "pretty grim picture", says Torsten Bell of the Resolution Foundation, a think tank that focuses on inequality issues.
"Pay is expected to be nearly £1,000 a year less than the Office of Budget Responsibility previously thought, and family's incomes are being projected to have a prolonged stagnation over the next few years, actually for a longer period than the stagnation we saw immediately after the financial crisis. It's not as deep, but it's longer."
They won't. So f* 'em. They have had their say, they voted out, you ask them and they still want out, in spite of the crashing pound and obvious pain for the next few years. That's what they want. so they will get it. The people of Grimsby wanted out, they are now asking for an "exemption" because it's going to make an already poor town poorer still. But you note that they haven't asked for a "reversal". You can take a horse to water but if it refuses to drink then it is going to suffer. It needs to suffer in order that the next time it gets to water it knows to drink. The turkeys have voted for Christmas, so let's make sure that they all get lots of bread sauce. Maybe, just maybe, after The Great British Electorate have just been f***ed repeatedly, they will work out that it's a bad idea to bend over in the showers. But as it stands, they haven't yet worked it out and Gove, Davis et al are more than happy to let them drop the soap.
Tony L
Administrator
The problem, as we are seeing in America, is even when things are very obviously on a wrong and catastrophic course low-IQ popularism can still keep to that trajectory. The players, scammers and con-artists like Johnson, Gove, Rees-Mogg, Fox, Dacre, Murdoch etc are very dangerous indeed as they are absolutely determined to crash the car for their own ends. Public opinion moves very slowly and I suspect will only really shift once we are out of the EU, millions are unemployed and there is little state infrastructure left to support them.
Weirdly, the leave voters I know want out even more now than they did before, and blame the EU (surprise surprise) and - weirdly - the Labour Party for any negative impact on us. Interesting thread on another forum that is worth a read for anyone on here who doesn't know a lot of Leave voters, gives you a pretty fair summary of the thinking of the general public:
http://www.airgunforum.co.uk/forums/showthread.php/235574-Brexit-have-you-chnged-your-mind
Absolutely. Nobody will ever admit to getting it wrong, that's human nature.
No they won't. That will all be someone else's fault.
Vinniemac
pfm Member
Yep. They’ll blame the EU, the remoaners, the Irish, anyone but themselves. Next it will be “Brexit would have been fine, but it wasn’t done properly.”
Rabobank calculates the negative effect of a non-chaotic Brexit at 450bn for UK (above 18% GDP loss). They use the latest/updated model that indeed like also Honda warned the other day, has an increasing negative effect when pound exchange rate drops. All other studies assume a positive effect from lower pound, they all used the same model without currency effect module.
At the moment it looks as if Rabo also is too optimistic, it will be chaotic, GDP loss will be bigger than they forsee.
At the moment it looks as if Rabo also is too optimistic, it will be chaotic, GDP loss will be bigger than they forsee.
The Far North
pfm Member
Paul Johnson from the Institute of Fiscal Studies has commented on the budget as follows, according to the BBC http://www.bbc.co.uk/news/business-42096806
The forecasts for productivity, earnings and economic growth made for "pretty grim reading", he said.
He highlighted that since 2014 growth in earnings has been "choked off".
Reacting to the forecasts from the Office for Budget Responsibility, which were released on Wednesday, Mr Johnson said it was "truly astonishing" that average earnings in 2022 could still be below the 2008 level.
"We are in danger of losing not just one but getting on for two decades of earnings growth," he said.
The forecasts for productivity, earnings and economic growth made for "pretty grim reading", he said.
He highlighted that since 2014 growth in earnings has been "choked off".
Reacting to the forecasts from the Office for Budget Responsibility, which were released on Wednesday, Mr Johnson said it was "truly astonishing" that average earnings in 2022 could still be below the 2008 level.
"We are in danger of losing not just one but getting on for two decades of earnings growth," he said.
MVV
pfm Member
Paul Johnson, director of the Institute for Fiscal Studies:
"We are in danger of losing not just one but getting on for two decades of earnings growth," he said.
"Let's hope this forecast turns out to be too pessimistic."
Now then gentlemen, with the utter chaos in the Conservative cabinet, the desperation of hard-line 'brexiteers to push this through and utterly self-oriented key players. Do you imagine for one moment that Hammond did not come under enormous pressure to be as optimistic as he could possibly get away with?
Bastards the lot of them and I look forward to their heads on spikes on the tower walls.
"We are in danger of losing not just one but getting on for two decades of earnings growth," he said.
"Let's hope this forecast turns out to be too pessimistic."
Now then gentlemen, with the utter chaos in the Conservative cabinet, the desperation of hard-line 'brexiteers to push this through and utterly self-oriented key players. Do you imagine for one moment that Hammond did not come under enormous pressure to be as optimistic as he could possibly get away with?
Bastards the lot of them and I look forward to their heads on spikes on the tower walls.
notaclue
pfm Member
"Britain must accept higher levels of immigration from India if it hopes to sign a free trade agreement after Brexit, a senior Indian diplomat has warned, as he predicted it could take up to a decade to secure the deal." http://www.telegraph.co.uk/news/201...mmigrants-wants-free-trade-deal-warns-senior/
I trust May will send Boris over to put these colonials in their place.
No immigration. Cake and eat it trade deal. That is what the peoples of HMS Global Britain demand.
I trust May will send Boris over to put these colonials in their place.
No immigration. Cake and eat it trade deal. That is what the peoples of HMS Global Britain demand.
Seeker_UK
Feelin' nearly faded as my jeans
That can go with the cake and arse party that the brexit negotiations are.
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