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'We're all worse off': Britain is now paying the price to leave the EU

theatlantic.com

41–50 of 54 posts

Re: 'We're all worse off': Britain is now paying the price to leave the EU

#41
For Brexit supporters - was it worth it from an autonomy perspective?

A lot of the arguments I heard were things like, "we don't want Brussels having such a strong say in our !"

Do you feel the economy is worse but you have better control or options?

Re: 'We're all worse off': Britain is now paying the price to leave the EU

#42

Everyone except those that keep their money in the British offshore banking system, the real reason behind Brexit as Eu banking regs would have been a big problem. It is estimated that half of the worlds wealth resides in the British offshore banks.

Almost half of the worlds wealth is in real estate, which is hard to store offshore or in a bank. British banks probably store less than $5 trillion or less than 1% of global wealth.

It's possible that a large fraction of outstanding mortgages are owned by intermediaries that ultimately reside in such an arrangement.

But half does seem like an exaggeration. 1/10 would be more believable.

Re: 'We're all worse off': Britain is now paying the price to leave the EU

#43
post #35

Earlier quoted context omitted.

As someone who has spent a significant amount of time in the UK and the Czech Republic (an EU country) since Brexit, both places are worse off now, but the Czech Republic is significantly more worse off than Britain. I have plenty of anecdotal evidence, but it suffices to look at inflation statistics, with Czechia at 15.1% and the UK at 9.07% for 2022. I haven't noticed any empty shelves, except for eggs, which were…

Interesting. So we can guess that this article (and others like it) observes local isolated phenomena?

The article talks about store shortages and becoming a poorer country. I haven't been affected by the shortages so I presume they aren't as significant as the media present them. As for getting poorer, it seems to be a Europe-wide problem - hardly related to Brexit.

Re: 'We're all worse off': Britain is now paying the price to leave the EU

#44
post #4

Can somebody from the UK confirm? It's been a hugely divisive topic from what I've gathered in the last years. Are things on average worse, or the same, or better?

I would say things are worse but it's difficult to disentangle it from the other major events like Covid and the war. Also worth pointing out that the UK's economic stagnation began well before Brexit and goes back to the 2008 crash: https://pbs.twimg.com/media/FvPzCWYXwAEoIRu?format=jpg&name=... . As someone who supports Brexit, I always thought there would be greater costs in the short term but getting out of insti…

In Australia no-one ever discussing anything about current propsperity in the context of "disentangling it from the other major events like Covid and the war".

Sure those are things, but we are not trying to make sense of current affairs through that lens as a major factor.

Re: 'We're all worse off': Britain is now paying the price to leave the EU

#45
post #34

The strangest thing about brexit is that all it took was one single 50% vote to exit. After untold time, money, effort and history put into joining Europe, you’d have thought that tearing the whole thing down would have required best of three votes to exit, or a supermajority, or a 12 month cooldown followed by a deciding second vote, or an “time apart” period before ending the relationship. Instead all it took was s…

I remain flabbergasted that Brexit happened but wasn't the overwhelming victory of Boris Johnson & the conservative party at the end of 2019 basically a re-statement by the population that they wanted it? IIRC that was basically a single issue election after which Brexit was more or less fast-tracked without continued internal opposition. Up until that point there had been a series of delays and rejections of Brexit…

Murdoch wanted brexit.

Rupert’s Australia's ‘deadliest export’.

https://www.smh.com.au/world/north-america/rupert-s-our-dead...

Re: 'We're all worse off': Britain is now paying the price to leave the EU

#46
post #11

Earlier quoted context omitted.

Worse, much worse - but it's still unclear how much of that can be chalked up to Brexit vs. the war vs. corona. It was hugely divisive between 2016-2019 but once it dropped off the media's radar people mostly stopped talking about it (before corona).

So it's no longer divisive, as in, there's now a public consensus whether Brexit was good or bad? Or it's no longer divisive, as in, nobody has a clue anymore because too many things happened and nobody can follow the trail of economic hardship?

It's less about the trail of economic hardship and more about the media losing interest in using it to divide people.

Therefore people stopped arguing over it.

Re: 'We're all worse off': Britain is now paying the price to leave the EU

#47
post #11

Earlier quoted context omitted.

Worse, much worse - but it's still unclear how much of that can be chalked up to Brexit vs. the war vs. corona. It was hugely divisive between 2016-2019 but once it dropped off the media's radar people mostly stopped talking about it (before corona).

Comparison to European economies (which suffered through the same coronavirus pandemic and the same, if not worse, energy crisis) might bring some clarity.

I dont doubt it was an economic net negative.

On the whole I think the war has been far worse though.

Re: 'We're all worse off': Britain is now paying the price to leave the EU

#48
post #13

Earlier quoted context omitted.

Or, even more likely, we’ll just adopt the EU rules anyway as it’s the most pragmatic option but have absolutely no say in how they’re made

This. The Uk copied large amounts of EU law verbatim. That is not a blip due only having recently left. It's due to their main trading partner is the EU and it will remain the EU. To trade with the EU you have to follow EU laws. I'm afraid the bendy bananas was all FUD. And the "benefit" was chlorinated chickens.

The UK hasn't passed EU laws since Brexit was done Jan 2021 like they did when they were a member. It's just a free trade agreement now. It is up to UK exporters to provide proof of compliance just like Canadian exporters to EU. 42% of total UK exports is to EU, even pre-Brexit it was below 50%.

In 2015 it was still just 44% of total UK exports to EU: https://www.ons.gov.uk/businessindustryandtrade/internationa...

Re: 'We're all worse off': Britain is now paying the price to leave the EU

#49
post #34

Earlier quoted context omitted.

I remain flabbergasted that Brexit happened but wasn't the overwhelming victory of Boris Johnson & the conservative party at the end of 2019 basically a re-statement by the population that they wanted it? IIRC that was basically a single issue election after which Brexit was more or less fast-tracked without continued internal opposition. Up until that point there had been a series of delays and rejections of Brexit…

Murdoch wanted brexit. Rupert’s Australia's ‘deadliest export’. https://www.smh.com.au/world/north-america/rupert-s-our-dead...

UK employers refused to increase salaries because they had unlimited supply of cheap labour from Eastern Europe, they treated them like shit but they still came and worked for them. Well the end result is those same working class British who they refused to pay more eventually voted Brexit. Now the UK employers are super desperate for staff because there is no more cheap labour for them to take advantage off. And wages are rising faster because the workers are in charge now.

Re: 'We're all worse off': Britain is now paying the price to leave the EU

#50
post #35
post #4

Can somebody from the UK confirm? It's been a hugely divisive topic from what I've gathered in the last years. Are things on average worse, or the same, or better?

As someone who has spent a significant amount of time in the UK and the Czech Republic (an EU country) since Brexit, both places are worse off now, but the Czech Republic is significantly more worse off than Britain. I have plenty of anecdotal evidence, but it suffices to look at inflation statistics, with Czechia at 15.1% and the UK at 9.07% for 2022. I haven't noticed any empty shelves, except for eggs, which were…

Compairing UK and the Czech Republic is like apples and oranges. A comparison with France or Germany would be more appropriate (but this way Brexit looks really bad).
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