BREXIT- economic impacts

[redsturgeon]

Why not place any thoughts or news on Brexit impacts here?

John

[88V8]

Gubmnt doesn't have 'a plan' because they never thought to lose the referendum.
Any broad plan they may be able to cook up will likely be sabotaged by Parliament which is full of Remainers.

It will be years before we see the economic impact. The exit deal, other trade deals. Historians will debate, books will be written, I reckon we will never really know.
The best outcome is if the EU starts to fall apart and has to row back on its interfering ways and its obsolete 'principle of free movement'.
That at least we may see, although not of course if the vested interests have their way.

Just hope our Financial Services sector comes out well, otherwise we're somewhat stuffed.

In the meantime, Brexit has achieved the Chancellor's wet dream of dropping the exchange rate and kickstarting inflation so we are or should be off to a flying start.

V8

[SteMiS]

the UK should be responding with the option of declaring the 1972 Act as having been illegal

You've posted this a few times but I suspect even the most extreme wing of UKIP would baulk from introducing such retrospective legislation that makes actions illegal in the past that were legal when committed. It would put the UK in direct conflict with its ow judiciary and a host of international bodies and allies, making it an international pariah. The stuff of totalitarian regimes.

[SteMiS]

1. The Union shall not be liable for or assume the commitments of central governments, regional, local or other public authorities, other bodies governed by public law, or public undertakings of any Member State, without prejudice to mutual financial guarantees for the joint execution of a specific project. A Member State shall not be liable for or assume the commitments of central governments, regional, local or other public authorities, other bodies governed by public law, or public undertakings of another Member State, without prejudice to mutual financial guarantees for the joint execution of a specific project.

Yet ... is bailing out by buying up public and private sector assets, at vastly inflated prices ...

I think you are misunderstanding what 'liable for...' means. I'm not liable for the debts of my brother but it doesn't mean I'm barred from lending him (or even giving him) money if he's in difficulties