The Consequences of Brexit [part 4]

[L00b 441]

Also - if your partner has a pension in an EU country you might still be able to boost that with an investment - depending on national laws (I can do so tax-free). I built up pension in the Netherlands for 4 years but that investment is now equal to 12 years as I keep topping it up, it will soon be 20 years. That way, when it comes to my retirement, I will also have Euros to rely on, no matter where I live.

That is actually spot on, as I'm looking to do exactly that in our destination country (i) because the state pensions there are rock solid, over-funded (4 years' reserves ahead of the curve) and extremely generous (70+% of average salary for a full 40 years' worth (or equivalent) of contributions, rather than the UK set-level-for-all pittance) and (ii) because there have been noises, admittedly very muted but getting increasingly frequent of late, of a "private pensions haircut 2.0" à la Gordon Brown in the UK - which I could well see happening if Brexit turns as calamitous as I expect. Edited October 31, 2017 by L00b

[khan2020 10]

I don’t understand what will happen once we leave European countries. Does that mean we go smaller or bigger in size and businesss

[El Cid 220]

I don’t understand what will happen once we leave European countries. Does that mean we go smaller or bigger in size and businesss

 

The UK's financial services sector contributed £71.4bn in tax last year, according to a report on behalf of the City of London.

The total, which was the highest in the report's nine-year history, accounted for 11.5% of the UK's total tax receipts.

 

http://www.bbc.co.uk/news/business-38218662

 

The UK's financial services sector is successful because we are international and have an agreement with the EU.

Without that agreement, the two major European stock exchanges will be doing their very best to steel Londons crown.

[L00b 441]

I don’t understand what will happen once we leave European countries. Does that mean we go smaller or bigger in size and businesss

Initially, and for a few years at least, smaller.

 

But then, if it works out according to Brexiters' hopes and wishes, eventually bigger.

 

Place your bets

[phil752 10]

I’m being brutally honest. Brexiters don’t have a clue about trade and are leading us off a cliff if they are not stopped. It’s the truth but don’t take it personally. You’re just one of millions of deluded people.

 

Bottom line: we are being led into a situation where protectionism becomes the norm, not free trade.

 

you mean one of the majority, again you try to argue with insults, answer the question if you can remember what it was?

[I1L2T3 10]

you mean one of the majority, again you try to argue with insults, answer the question if you can remember what it was?

 

Saying people are deluded isn’t an insult. It’s the truth, because they are deluded. It’s perhaps worse than that - Brexit is starting to look like a cult where people hold views that defy all reason and logic, and are even willing to damage their own lives in pursuit of those goals. It’s getting very strange.

[phil752 10]

Please explain to me how do you get to determine that such accounting entries as "UK international assets" and "foreign debt" can be "overestimated" or "underestimated", without auditing accounts

The "EU budget"? I thought we were talking about accounts?

 

You know: assets (including such things as "UK international assets", reserves, etc.), liabilities (including such things "foreign debt"), cashflow, <...>

 

Just a second, if we have errors in our own government's accounting, we can vote them out. The point is that EU we have little control over.

 

---------- Post added 01-11-2017 at 00:26 ----------

 

Saying people are deluded isn’t an insult. It’s the truth, because they are deluded. It’s perhaps worse than that - Brexit is starting to look like a cult where people hold views that defy all reason and logic, and are even willing to damage their own lives in pursuit of those goals. It’s getting very strange.

 

but when in a minority, why do you believe the majority are deluded, strange indeed.

 

---------- Post added 01-11-2017 at 01:04 ----------

 

No, it'll take the EU a couple of years to recover from the loss of 20 billion pounds, a year if they try.

 

The man makes about as much sense on this topic as when he says that raped women shouldn't be allowed abortion.

 

Tell that to the Fins, who vow not to may any further payment to make up the hole the British payment would make. Who will be next?

 

https://yle.fi/uutiset/osasto/news/finland_wont_make_up_eu_budget_deficit_post-brexit_warns_finance_minister/9426505

Edited November 1, 2017 by phil752

[chalga 10]

Just a second, if we have errors in our own government's accounting, we can vote them out. The point is that EU we have little control over.

 

---------- Post added 01-11-2017 at 00:26 ----------

 

 

but when in a minority, why do you believe the majority are deluded, strange indeed.

 

---------- Post added 01-11-2017 at 01:04 ----------

 

 

Tell that to the Fins, who vow not to may any further payment to make up the hole the British payment would make. Who will be next?

 

https://yle.fi/uutiset/osasto/news/finland_wont_make_up_eu_budget_deficit_post-brexit_warns_finance_minister/9426505

 

Are those who voted for Brexit because they are left behind and ignored and want their lives improving going to come out dancing in the streets because the Fins aren't paying anymore

[Litotes 63]

...

but when in a minority, why do you believe the majority are deluded, strange indeed...

 

two names come to mind... Galileo and Copernico

 

And a quotation or two:-

 

“Wrong does not cease to be wrong because the majority share in it.”

― Leo Tolstoy,

 

If three men are traveling along and one is confused, they will still get where they are going - because confusion is in the minority. But if two of them are confused, then they can walk until they are exhausted and never get anywhere - because confusion is in the majority.”

― Zhuangzi, The Complete Works of Chuang Tzu

[L00b 441]

Just a second, if we have errors in our own government's accounting, we can vote them out. The point is that EU we have little control over.

Have you never voted for your MEP? (who approves -or not- the EU accounts, look up "budget discharge")

 

Have you never voted for your MP? (whose government nominates the British EU Commissioner)

 

Are you going to vote the Tories out at the next GE, given that this £490bn error happened on their watch?

 

The EU's total annual budget is around what the UK spends annually on the NHS. Which reported this morning, that it gets defrauded annually to the tune of £1bn (1%). I'll just leave this here for context.

 

What you really mean by "having little control over the EU" is, that you believe the British don't control the EU to the extent they'd like, to always get their way. Funny thing, the British always seemed to get their way nonetheless, and notwithstanding their being only one out of 27 EU Members, with getting the rebate, the get-outs, this-that-the other exception, most of which no other EU Member state ever got.

 

That ship sailed in July 2016 when May's government set its policy of implementing the consultative referendum result, never to return once May triggered Article 50 in March 2017. You are where you are, so now deal with it

Edited November 1, 2017 by L00b

[I1L2T3 10]

but when in a minority, why do you believe the majority are deluded, strange indeed.

 

It’s simple. Enough people believed the lies about the EU.

[Magilla 510]

Are those who voted for Brexit because they are left behind and ignored and want their lives improving going to come out dancing in the streets because the Fins aren't paying anymore

 

And when they realise their lot is probably not going to improve, the opposite is more likely:-

 

http://www.huffingtonpost.co.uk/entry/david-davis-admits-brexit-withdrawal-agreement-will-probably-favour-the-eu_uk_59f8a7f3e4b046017faf1ad2?9v2

David Davis has conceded the UK’s Brexit agreement “will probably favour the EU”.

 

The cabinet minister told the House of Lords European Union select committee on Tuesday that any withdrawal agreement would benefit the EU “in terms of the things like money and so on.”

 

Expectations are being rolled back almost on a daily basis!