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A Recovery continues

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Following the drop in th exchange rates after the referendum, I have noted that at close of trading today the Pound v the Euro is standing at  1.17 which = approx a single Euro is worth 85pence (at one time today it was 1.18 (84P).

 

Just after the referendum it was trading at 1.1 which = a Euro being worth 91p per Pound  The dollar is trading at 1.25 dollars to the pound and getting better.

 

Yes it's slow but we are getting there.

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This is just positioning before the main event. Article 50 and actual Brexit will slam us all economically. And that will probably take beyond my lifetime to recover from.

The Office for Budget Responsibility has calculated that the lower migration, slower productivity growth and higher inflation likely to be caused by Brexit will cost us £59bn from the public finances over the next five years.

The Institute for Fiscal Studies says Brexit would hit productivity and wage growth, and the falling pound would drive up inflation. Brexit would cause the biggest pay squeeze in Britain for 70 years – more than a decade without real earnings growth.

A report by the Centre for Economics and Business Research found that every major wealth-creating sector would be hit if the UK left the single market.

So I don't know where the NHS will get its extra £350M a week from.

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This is just positioning before the main event. Article 50 and actual Brexit will slam us all economically. And that will probably take beyond my lifetime to recover from.

The Office for Budget Responsibility has calculated that the lower migration, slower productivity growth and higher inflation likely to be caused by Brexit will cost us £59bn from the public finances over the next five years.

The Institute for Fiscal Studies says Brexit would hit productivity and wage growth, and the falling pound would drive up inflation. Brexit would cause the biggest pay squeeze in Britain for 70 years – more than a decade without real earnings growth.

A report by the Centre for Economics and Business Research found that every major wealth-creating sector would be hit if the UK left the single market.

So I don't know where the NHS will get its extra £350M a week from.

Well they have consistently been wrong before. It is the Politics of fear all over again. On the other hand G.B can trade with the World, again

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Well said Z; and I owe myself another mince pie.

Of course the key question is will the rest of the world want to trade with us? And if they do will it be on as favourable terms as we currently have within the EU?

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This is just positioning before the main event. Article 50 and actual Brexit will slam us all economically. And that will probably take beyond my lifetime to recover from.

The Office for Budget Responsibility has calculated that the lower migration, slower productivity growth and higher inflation likely to be caused by Brexit will cost us £59bn from the public finances over the next five years.

The Institute for Fiscal Studies says Brexit would hit productivity and wage growth, and the falling pound would drive up inflation. Brexit would cause the biggest pay squeeze in Britain for 70 years – more than a decade without real earnings growth.

A report by the Centre for Economics and Business Research found that every major wealth-creating sector would be hit if the UK left the single market.

So I don't know where the NHS will get its extra £350M a week from.

 

I am assuming that your comment as in bold above, is pure conjecture on your behalf. I am certain that no one else knows the future, plus as far as I am aware, the so called experts have all been so far found to be drastically lacking in accuracy, not all incorrect, but an overwhelmingly large proportion were wrong. Even the current drop in the £1's fortunes was started after the referendum is down to speculaters buying and selling, so making a fast buck at a cost to others. But as the original post suggested we are clawing our way back. Even the Stock Markets have shown an optomistic view of the situation and are now higher than on the week before the referendum.

 

The mythical crystal ball has not yet been invented that can say with a greater certainty than predicting the card in a well shuffled pack when it is cut. They have a something around a 2% chance of getting it right. Some may predict doom and gloom, whilst others look on the other side where getting out of the mire which is Europe, will only bring an improvement.

 

Think about the glass half empty and the glass half full analogy.

 

What worries me more is the position of the the RBS and their cash holdings. Then we have the crude, out of date attitudes and bluster by  President Elect Trump. He has the power to ruin any outcome of almost any international situation by his lack of political nous and the inability to see the wood for the trees. They are not my thoughts, but those of John Brennan the outgoing Director of the CIA.

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I don't see the point of the last post. You start talking about pure conjecture, no one can know the future, the experts get it wrong, the crystal ball hasn't been invented yet. Then quote John Brennan as though he is an expert. By your own argument he can't know the future, he hasn't got a crystal ball, his opinion is pure conjecture and he only has a 2% chance of being right.

Trump may become the best President the USA ever had.

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Trump the best President the US has ever had? Sorry but that idea just doesn't exactly give me a great deal of confidence! I think John Brennan has a greater chance of being called an expert on the situation than Trump; you don't get to the position he has held by being a numpty. Trump is a business man who has filed for backruptcy was it 2 or 3 times.

 

OK, fail in business thats one thing, you can always start again, but causing a whole country to fail is another. Trump was elected into the position, he didn't work his way up, learning the job on the way. or show any degree of competancy with politics. Plus anyone who shows any tendancy to cosy up with Russia, needs to be kept at arms length.

 

Yes of course I maybe wrong, but his performance thus far can be summed up in one sentence - Sets a very low standard which he fails to maintain!

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I don't see the point of the last post. You start talking about pure conjecture, no one can know the future, the experts get it wrong, the crystal ball hasn't been invented yet. Then quote John Brennan as though he is an expert. By your own argument he can't know the future, he hasn't got a crystal ball, his opinion is pure conjecture and he only has a 2% chance of being right.

Trump may become the best President the USA ever had.

Yet you seem to know. We may be going into the unknown but that is far better than the absolute corrupt EU. N person has ever explained why they have not been able to get their accounts signed off for a quarter of a century.

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Whether or not the Accounts have been signed off is/was always open to debate and if not should be fully scrutinised if they were not. However Judge for yourself if the claim is wholly, partly or a total fabrication, by looking at the following;- https://fullfact.org/europe/did-auditors-sign-eu-budget/

 

(You do need to scroll right down to the bottom).

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Yet you seem to know. We may be going into the unknown but that is far better than the absolute corrupt EU. N person has ever explained why they have not been able to get their accounts signed off for a quarter of a century.

It has been explained but you don't want to know about anything that doesn't fit with your agenda.

The Full Facts link by BR puts it succinctly - the accounts have been signed off for the last 9 years. There are some errors, but it would be suspicious if every penny of a multi billion Euro budget was accounted for and spent exactly according to the rules. When I looked previously I found that applying the same rules to the UK budget showed more money was 'missing' from the Westminster coffers than the Brussels ones.

And the 'absolute corrupt' phrase is rather wearing and absolutely inaccurate. If the EU was 'absolutely' corrupt then it wouldn't be <4% of the money misspent, it would be 100% of the budget stolen. And every MEP, including Farage and the other UKIP members all 'absolutely' corruptly taking their share.

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So the accounts are 3.8% out, where up to 2% is allowed ? And the Independent Court of Auditors is looking for 1, 000 people to donate £10 per month to maintain their independence, from who, and how?

The payments have not been free from material error since 1994 when the record shown starts, and before then?

Some people are easily satisfied and hoodwinked by such reports. The report also claims that the EU spends a few Billion less than the UK does on the NHS. Spread over 27 countries that is, unbelievable.

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The report also claims that the EU spends a few Billion less than the UK does on the NHS. Spread over 27 countries that is, unbelievable.

How can it be unbelievable. All the figures are publicly available - unless you such a conspiracy theorist that you think all the published numbers about everything is wrong.

EU budget for 2015 = €145 billion = £122 billion at today's exchange rate.

NHS net expenditure was £117.229 billion in 2015/16.

So actually EU budget is slightly more now but back when the exchange rate was different it was less.

Just shows that in real terms membership of the EU isn't that expensive.

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How can it be unbelievable. All the figures are publicly available - unless you such a conspiracy theorist that you think all the published numbers about everything is wrong.

EU budget for 2015 = €145 billion = £122 billion at today's exchange rate.

NHS net expenditure was £117.229 billion in 2015/16.

So actually EU budget is slightly more now but back when the exchange rate was different it was less.

Just shows that in real terms membership of the EU isn't that expensive.

That would equate to £117.229 billion over 27 States which would amount to 4.34 billion per State. We pay £360million per week or 18.72 billion per year and allegedly receive approximately half of that back, i.e.just over 9.5 billion. Those figures just do not add up, there is just over £5 million per year missing.

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That would equate to £117.229 billion over 27 States which would amount to 4.34 billion per State. We pay £360million per week or 18.72 billion per year and allegedly receive approximately half of that back, i.e.just over 9.5 billion. Those figures just do not add up, there is just over £5 million per year missing.

Wow. This post shows such lack of understanding I don't know where to begin - or are you just trolling?

5 million missing out of 117 billion? I don't know where you get the 5M from but that's 0.004% - that can be accounted for by rounding.

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