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Why Brexit is succeeding !


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Old Yesterday, 23:44
Mark_Jones9
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The article confirmed my own thinking.

"Consumers do not seem fearful of the future and have shown a remarkable willingness to keep the economy humming"

Out of relief that Brexit hasn't been as bad as expected so far, UK consumers continue to spend with confidence.

The UK economy is performing well. But no better than forecast in May 2015, when 2016 GDP growth was forecast around 2.5%. It's likely to be 2.2%.

The UK economy's response to the EU referendum should be seen as one of relief, not jubilation.

It will only take one bad piece of economic news and you might see this happen in UK high streets again. https://www.youtube.com/watch?v=EyVk8EI6asQ

Fingers crossed.
In May 2016 before the referendum vote the GDP forecasts were.
The OBR forecast for 2016 Q3 +0.5%
The OBR forecast for 2016 +2.0%
The BoE forecast for 2016 +2.1%
The average independent forecast for 2016 +1.9%

The Treasury forecast if the referendum result was for brexit was
Shock scenario 2016 Q3 -0.1% Q4 -0.1%
Severe shock scenario 2016 Q3 -1.0% Q4 -0.4%
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Old Today, 00:06
Nick1966
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In May 2016 before the referendum vote the GDP forecasts were.
The OBR forecast for 2016 Q3 +0.5%
The OBR forecast for 2016 +2.0%
The BoE forecast for 2016 +2.1%
The average independent forecast for 2016 +1.9%

The Treasury forecast if the referendum result was for brexit
Shock scenario 2016 Q3 -0.1% Q4 -0.1%
Severe shock scenario 2016 Q3 -1.0% Q4 -0.4%
Exactly.

The referendum result appears to have had little change on GDP growth. It's as if the referendum result had never happened.
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Old Today, 00:11
andykn
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Don't forget the significant boost the economy's been given to offset Brexit by halving interest rates and pumping 60bn of QE into the economy.

Edit: Obviously not taken into consideration when the earlier forecasts were made.
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Old Today, 00:24
Nick1966
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Don't forget the significant boost the economy's been given to offset Brexit by halving interest rates and pumping 60bn of QE into the economy
And the Bank of England £100 bn term funding scheme which the ONS has now added to outstanding public debt.
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Old Today, 00:28
boddism
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Rare article in the Independent (as opposed to their usual anti-Brexit rhetoric) on the reasons why the vote didn't result in the catastrophic predictions.

From former IMF director Ashoka Mody

http://www.independent.co.uk/news/bu...-a7509711.html
we haven't left yet-and won't for over2 years-minimum!

Stop calling a non event as a success.

It's like congratulating a baby on its exam results!
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Old Today, 00:30
1Mickey
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Has it started?
Bloody hell.
Nobody told me.
I wonder if Teresa knows.
No.
It may not even happen by March, although the price rises due to the weaker pound have started.
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Old Today, 01:39
David_Elson
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*parks bum on seat with a brew*

Ok you got my attention, what comes next?

Do tell. What did the seat with a brew do with the bum and the brew?
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Old Today, 01:59
david16
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It's amazing how the same people who are lambasting people taking an extreme view on here how bad things are likely to be post Brexit are posting extreme views themselves on how great things will be post Brexit on the totally opposite end of the scale.

There is no shed of evidence that proves hard Brexit will bring strongest Uk economy ever consisting of:-

strongest growth figures,

the UK's forever huge debt and trade defecit both suddenly turning into a huge surplus

record low unemployment,

record high house prices,

strongest pound vs both the euro and US dollar,

lowest ever inflation and interest rates,

a record high FTSE,

and no UK recession at all when the rest of the world are suffering a deep recession themselves.
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