Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

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

theatlantic.com

Post reply on HN
Print view View original

51–54 of 54 posts

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

#51

Post by thedrbrian »

ThisIsNotNew wrote: post #49
andrewstuart wrote: post #45

Earlier quoted context omitted.

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 wag…

an example from the industry I'm in

https://www.ft.com/content/13a0a9f5-5db6-488c-9860-18bd74fd2...

Oh no, we've got to invest in our staff

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

#52

Post by freddybobs »

ThisIsNotNew wrote: post #48
freddybobs wrote: post #23

Earlier quoted context omitted.

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...

So the majority of trade was/is/likely to remain with the EU?

Perhaps I should clarify on the EU law point. I made the point that most EU laws were copied, but the trade point was not about laws in the Uk. It's that UK companies will and do voluntarily comply with EU laws. They do that so they can continue to trade with the EU - the Uks largest trading partner. Moreover previously the Uk had a large seat at the table in deciding such EU laws. Now the Uk largely complies either by law or by necessity to trade with laws it doesn't even have a say in.

On bendy bananas, it also turns out...

> EU ‘bendy bananas’ regulation to remain despite Brexit

https://www.independent.co.uk/news/uk/politics/eu-bendy-bana...

Not that this is some huge deal. It's just another (somewhat amusing) data point in a project that doesn't appear to have any significant tangible benefit.

Moreover I'd claim it isn't going to get much better, because how can it? The UK made trade much harder with it's main trading partner.

I don't think that's funny. It's dumb and tragic.

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

#53

Post by naveen99 »

MichaelZuo wrote: post #42
naveen99 wrote: post #37

Earlier quoted context omitted.

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.

Leverage in residential real estate is minimal. Probably less than 30% globally.

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

#54

Post by zvolsky »

gepiti wrote: post #50
zvolsky wrote: 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…

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).

Would you elaborate on your comparison with Germany? OECD GDP, CPI inflation, and inflation forecast figures seem to contradict your argument.
Post reply on HN