EU referendum/Brexit discussion - Part 2

[trundlenut]

They'll probably need to brush up on their foreign languages if HQ moves though

That'll be a hardship...

Handier for the skiing though.

[Ryeman]

That'll be a hardship...

Handier for the skiing though.

I was thinking of the restaurant menu)))

[lol-lol]

Will Airbus pull out of British component manufacturing frinstance, have they made a definitive statement?.

 

Companies who are currently part of EU wide duty suspension schemes, ie Inward Processing Relief, End Use, Airworthiness and can move these goods under Community wide provisions of these reliefs will have to entered goods in to and out of import and export routines rather than hold them within single duty relief schemes meaning that there will be new multiple layers of customs administration of such goods going in and out of the UK rather than being within a single scheme bouncing between France and Germany etc.

 

So a dis-advantage for UK.  On the plus side to some companies British workers will be paid less with the lower exchange rate.  Aerospace parts are priced in USD, even within the EU. 

[Ryeman]

Oh dear lol

Fancy having to hope to become a 3rd world wages country just like China WAS

[Ootohere]

It is just as well that the positives of not being in the EU are greater than being in when the time happens and we were never in the EURO Zone and never even properly metric.

 

The Population of the UK is not dropping and the opportunities for work are going to be as great as they ever were, 

real people will need to do real jobs providing homes, warmth, food, utilities and healthcare.

Transportation etc will all still be needed and there will be imports and exports and banking.

 

If some jobs have to change then that is the way on things, well paid and over paid might have to get on their bikes or just adjust to new working conditions and some unemployed might have to work.

Those in the UK that think they can just go and work in Continental Europe might need to think again.

Tough Love but that is what you get with BREXIT.

 

British jobs for British People, so that will be all those Commonwealth, and those needed for cheap labour and the economy as well.

[Ryeman]

.......assuming AI empowered robots don't destroy more jobs than they create......?

........and on this subject no politician wants to be asked nor, it seems, the media......surprisingly, but the clock is ticking

Edited 2 January, 2017 by Ryeman

[lol-lol]

Oh dear lol

Fancy having to hope to become a 3rd world wages country just like China WAS

 

The march of time in fairly unstoppable and difficult to even slow down.  The definition "Third World" is in itself very 20th century.

 

The UK leaving the EU is like a wildebeest deciding to make a dash on its own as it reckons the herd is a bit slow and it might be better off on its own, risky strategy the is more likely to fail than succeed in my opinion than at least prelonging our economic well being before the music stops.

 

The economic progress at a far greater rate of the Asian/BRIC countries appears to continue at a much greater rate than the Old World.  Looking at the GDP of countries there are several notable events that look certain to occur in the next few years.  The UK, when quoted in USD GDP which is the norm, is likely to be surpassed by India and quite probably France and Russia and in the next year or two.  China will pass the US in size of economy in 2018, by some measures ie real currency it already has.  Australia will fall out of the G20 being surpassed by some African, Asian.  It will be interesting to osee the 2016 figures when they are published.

https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)

 

The UK will have substantial residual wealth for many decades to come but it is bleeding away due to low productivity and high individual wealth individuals moving their money around the world to where the action is ie China, Germany, India.    

      

[Ryeman]

I'm just glad I'm retired

The sciences are as much destructive as CONstructive unless they are prepared to deal with the potential employment destroying outcomes.

The nano world is hear now but society (our political representatives) has it's head in the sand it seems to me

[lol-lol]

It is just as well that the positives of not being in the EU are greater than being in when the time happens and we were never in the EURO Zone and never even properly metric.

The Population of the UK is not dropping and the opportunities for work are going to be as great as they ever were, real people will need to do real jobs providing homes, warmth, food, utilities and healthcare.

Transportation etc will all still be needed and there will be imports and exports and banking.  If some jobs have to change then that is the way on things, well paid and over paid might have to get on their bikes or just adjust to new working conditions and some unemployed might have to work.  Those in the UK that think they can just go and work in Continental Europe might need to think again.

Tough Love but that is what you get with BREXIT. British jobs for British People, so that will be all those Commonwealth, and those needed for cheap labour and the economy as well.

 

I would rather have been pegged to the Euro in terms of currency stability and interest rates.  Fortunately just pegged my mortgage deal for the next few years.

 

Imperial is a stupid system that most engineers, even American, use less and less, it is just a nonsense to use not decimal systems.

 

I hope we can do a deal with the EU as to the 2M mostly elderly Brits living on the mediterranean coast as the UK NHS is already not coping properly and with a couple of million extra people with many health conditions it does not bare thinking about plus all the loss of good staff we have in the NHS from other than the UK.

 

I think we will find that the Commonwealth workers from India etc might not be so cheap but I would like to spend more time over there, cricket, climate and a cheaper cost of living and many speak English, great !         

Edited 2 January, 2017 by lol-lol

[Ootohere]

lol-lol spends so much of his waking hours organising and looking forward to his retirement that i hope he can fully enjoy it in good health.

It is a well known fact that worry can shorten your life, but then the UK might return to the days of Men paying in and not benefiting from living long after retiring.

 

With the way the NHS is in England & Wales that could be a worry.

[Ryeman]

We gave up teaching long division in 1966

(up until the U.S. stock markets integrated into the world trading systems with globalisation, you could trade down to 13/64ths of a $US)

Edited 2 January, 2017 by Ryeman

[lol-lol]

I'm just glad I'm retired

The sciences are as much destructive as CONstructive unless they are prepared to deal with the potential employment destroying outcomes.

The nano world is hear now but society (our political representatives) has it's head in the sand it seems to me

 

Some retirees are worried here as in this made world we have right wing Conservatives now saying the pension guarantee of a minimum of a 2.5% is now unaffordable as the UK national debt climbs by £6B a month inexorably towards £2T is seems and Labour say they will keep the Triple lock and they get blamed for being economically incompetent.

 

Really an issue for those who lust rely on the State pension.  The UK has a great system where you can put up to £40K a year, up to £1M lifetime, and avoid the 20 and even 40% income tax rate so very worth doing when you can start drawing down your pension at 55 years old.

 

A £100K annuity/tax free drawdown can give around £4000 a year so ideally one needs a pot of several £100K to have a good life post retire as the UK state pension is one of the lowest in the developed world. 

[lol-lol]

lol-lol spends so much of his waking hours organising and looking forward to his retirement that i hope he can fully enjoy it in good health.

It is a well known fact that worry can shorten your life, but then the UK might return to the days of Men paying in and not benefiting from living long after retiring.

With the way the NHS is in England & Wales that could be a worry.

 

Given up worrying as somebody said it is carcinogenic.

 

As I have just turned 55 so many options have just become in to play.  Drawing down that little pension, building up another, optimising the tax of PAYE, Self Assessment, Benefit in Kind etc.  It is more fun than gambling as at worse you should not lose your stake (I do not put much pension into stock equities, only ethical ones).

 

Just ordered a new motor bike, made in Indonesia though a Japanese marque.  Customs and BREXIT are going to be so interesting a lots of work to keep me going to at least 60 when I get my Civil Service lump sum and pension commences, even then might work on for a year or three if the money continues to be good as the final BREXIT deal and implementing it might take 4-9 years as FTAs normally do so will keep drawing pay and pensions and recycling them in to pension pots to optimise the take home pay. The Future is bright, the future is for individuals not nations. 

Edited 2 January, 2017 by lol-lol

[Ootohere]

Too many detached from the real world do not even think that hard working individuals do not earn £20,000 or even £15,000 a year and still get deductions 

& others with £40,000 or more get benefits, allowances, tax credits etc, and can put away into pension funds.

 

Odd old world the UK where people even can live abroad and get Winter Cold Payments and free TV licences for rental properties in the UK.

[lol-lol]

Too many detached from the real world do not even think that hard working individuals do not earn £20,000 or even £15,000 a year and still get deductions 

& others with £40,000 or more get benefits, allowances, tax credits etc, and can put away into pension funds.

 

Odd old world the UK where people even can live abroad and get Winter Cold Payments and free TV licences for rental properties in the UK.

 

One person's real world nightmare and others live in a world where it is handed to them on a silver platter.  Heard Iggy Pop's Passenger over Xmas, such a good song and still relevant....

 

National Insurance is one thing that seriously needs sorting.  Starting levels need to go in line with Income tax ie move from £7K to £11K starting and the rate at which it drops from standard rate to almost nothing well 2%.  Both the higher tax rate and NI rate go to £45k on April 6th 2017.  If this upper NI threshold changes then they should move the starting point by £2k also IMO.    

 

BREXIT will have lots of unintended consequences but equality is not likely to be one of them... 

 

Edited 2 January, 2017 by lol-lol

[KenONeill]

National Insurance is one thing that seriously needs sorting.  Starting levels need to go in line with Income tax ie move from £7K to £11K starting and the rate at which it drops from standard rate to almost nothing well 2%.  Both the higher tax rate and NI rate go to £45k on April 6th 2017.  If this upper NI threshold changes then they should move the starting point by £2k also IMO.    

Slightly worryingly, I am in complete agreement with lol-lol!!

[@Lee]

 

Emails dating back to 2014 show Lib Dem advisers, who were then in government as part of the coalition, complaining repeatedly about May’s interventions.

They claimed internally that the then home secretary was determined to paint a negative picture of Britain’s relationship with European countries when it came to immigration.The exchanges suggested that May wanted to claim that “benefits tourism” was a serious problem, attracting immigrants into Britain.

https://www.theguardian.com/politics/2016/sep/27/theresa-may-accused-trying-to-alter-immigration-report-before-brexit-vote

 

 

The UK government has consistently declined to provide evidence to support its claims about "benefit tourism", the European Commission has said.

 

http://www.bbc.co.uk/news/uk-politics-24522653

 

More lies being revealed.

[lol-lol]

Oops..................

 

Britain’s EU ambassador resigns weeks before Article 50 invoked

Sir Ivan Rogers quits as UK representative after tensions with Downing Street

 

https://www.ft.com/content/88c29514-d1b0-11e6-9341-7393bb2e1b51

 

[moley]

Not sure what the problem is with Sir Ivan Rogers resigning, he was leaving in November anyway. If article 50 is triggered by March he would only been involved in negotiations for about six months of the two year process. So better than he goes now.

[Ootohere]

So many politicians and others in the business of not doing very much about very much are bigging him up,

but was he really any good or just there making sure he was indispensable?

Well that never worked out as it turns out.

 

Many in the UK and with a vote wanted out of the EU because of the likes of him and Prime Ministers like David Cameron that had the EU taking the pith out of the UK.

He was un-successful in some if not many negotiations with many 'POLITICIANS' (Snouters like Kenneth Clarke QC MP, Ex BAT Deputy Chair Person etc etc etc etc)

that managed to keep jobs for a long time and had their own agenda.

 

Very well paid as a Life Long Civil Servant, other than when working fo CITI Group / Barclay Capital & maybe having interests on behalf of others than just the UK Tax Payers.

 

Going with a nice pension no doubt and at under 60 years old, going on to work in other well paid positions almost certainly.

Ta ra Sir Mark Ivan Rogers KCMG, not off to the job centre any time soon....

Edited 4 January, 2017 by Offski

[domhnall]

They'll probably need to brush up on their foreign languages if HQ moves though

 

I was in Dublin the day before the referendum, the taxi driver was asking if I was another Brit over looking for office space. Good luck with that he said as he'd had no end of UK business people in his taxi in the previous few months preparing for a possible brexit (we should really call it UKexit though as Northern Ireland is also affected not just Britain). 

 

Similar legal system, same language, low tax. I reckon Ireland will do better. I know I am involved in requalifying in Ireland right now but there's a long queue ahead of me. 

 

[domhnall]

Some retirees are worried here as in this made world we have right wing Conservatives now saying the pension guarantee of a minimum of a 2.5% is now unaffordable as the UK national debt climbs by £6B a month inexorably towards £2T is seems and Labour say they will keep the Triple lock and they get blamed for being economically incompetent.

 

Really an issue for those who lust rely on the State pension.  The UK has a great system where you can put up to £40K a year, up to £1M lifetime, and avoid the 20 and even 40% income tax rate so very worth doing when you can start drawing down your pension at 55 years old.

 

A £100K annuity/tax free drawdown can give around £4000 a year so ideally one needs a pot of several £100K to have a good life post retire as the UK state pension is one of the lowest in the developed world. 

 

Was looking at my pension last week, a year ago it was projecting an annual retirement income 33% higher than it is now. So UKexit appears to have cut my retirement income by a third. Thanks Mrs May. Never mind if I just adopt an optimistic frame of mind it will turn out nicely.

 

[Eddie-NL]

Was looking at my pension last week, a year ago it was projecting an annual retirement income 33% higher than it is now. So UKexit appears to have cut my retirement income by a third. Thanks Mrs May. Never mind if I just adopt an optimistic frame of mind it will turn out nicely.

 

it is wrong to blame brexit for your pension troubles, the one you should blame is your pension provider.

 

I changed my pension provider after their poor efforts over the last 2 years 

The one I'm with now has made more in the last 4 months than i had in the last 4 years

[domhnall]

it is wrong to blame brexit for your pension troubles, the one you should blame is your pension provider.

 

I changed my pension provider after their poor efforts over the last 2 years 

The one I'm with now has made more in the last 4 months than i had in the last 4 years

 

mine performed very well over the last 8 years I have been with them. Brexit happened and the value of my pension dropped. It's hard not to see the connection.

[Eddie-NL]

mine performed very well over the last 8 years I have been with them. Brexit happened and the value of my pension dropped. It's hard not to see the connection.

and they had time to improve / recover after the brexit vote

 

mine was invested with Reassure until just after the brexit vote, then i transferred it nad it has beaten what all the returns that i had for the last 4 years. 

 

I should also note that i was making a monthly contribution to reassure, i don't make any contributions to the new provider