EU Referendum Megathread (Brexit)

-:Undertaker:- · 20-05-2016, 12:15 PM

Originally Posted by AgnesIO

http://www.bbc.co.uk/news/business-36330549
http://www.ft.com/cms/s/0/b2d86a06-1...#axzz49B6mjtFz

Alright, then.

Oh no see I can make up claims too. If a line goes down or up then it MUST be related to whatever argument is being put forward. What's funny about the scary claims over the Pound Sterling anyway is that a weaker pound is actually good for exports. Hence the Bank of England's QE I&II scheme since 2008.

In other business news...

http://www.telegraph.co.uk/news/2016...back-a-brexit/

Originally Posted by Telegraph

More than 300 business leaders are calling on Britain to vote to leave the European Union, saying that the country’s “competitiveness is being undermined by our membership”.

In a letter published in the Telegraph, the business leaders say that Brussels’ “red tape stifles every one of Britain’s 5.4 million businesses” and claim that a Brexit would allow them to “create more jobs”.

Signatories of the letter include Peter Goldstein, a founder of Superdrug, Steve Dowdle, the former vice president Europe of technology firm Sony, David Sismey, a MD of Goldman Sachs and Sir Patrick Sheehy, the former chairman of British American Tobacco.

The letter is also signed by hundreds of people linked to small and medium-sized businesses. In total the backers of the letter are from businesses employing hundreds of thousands of members of staff.

But he says this and she says this and markets say this aside which is an argument that could go on for days. What's really interesting in this debate and why if Remain do win there will be another referendum is that they're arguing not on the real politics of the thing but economic claims which of course the EU is not ultimately about. If Remain win on a ticket of saying no more powers to Brussels and you'll all lose your jobs if you vote to leave, then what happens 5 years down the line when the EU comes up with a new treaty and more power grabs? We'll be perfectly right to call another referendum: this time potentially with a Leaver as Prime Minister. If you're selling us a false prospectus then don't be surprised when calls for another vote start shortly appearing.

If you Remanians argued for a federal Europe and more powers to go there and won on that basis, then fair enough the debate is over. But now? nah. No way.

abc · 20-05-2016, 06:17 PM

Originally Posted by -:Undertaker:-

Oh no see I can make up claims too. If a line goes down or up then it MUST be related to whatever argument is being put forward. What's funny about the scary claims over the Pound Sterling anyway is that a weaker pound is actually good for exports. Hence the Bank of England's QE I&II scheme since 2008.

Except what I said about pound becoming stronger was true and can be backed by facts? GBP to USD has gone from 1.38 to 1.46. A stronger pound means import is cheaper (and we import a lot! from food, to everything!) so that helps to keep prices low for families.

http://www.bloomberg.com/news/articl...gains-momentum
http://www.ibtimes.com/pound-surges-...tay-eu-2370762

I am not like you Dan, I do not make up facts and stuff. I state the facts just like I did in my previous post. So please do not accuse me of doing what you do non stop which is "making up claims" ... especially when I just proved you wrong so easily again.

-:Undertaker:- · 21-05-2016, 11:00 AM

@abc; And how can you pay for imports if you're not exporting anything? It's well known that Britain's exportation just is not good enough for an economy this size hence a huge trade deficit in that area. HENCE why the Bank of England has done everything it can over the past few years to weaken the Pound Sterling.

A weak currency rate helps a country export its way out of a hole in tough economic times. That's why there's such a problem in Greece, Spain, Portugal and so on as they, being a part of the Euro, are unable to devalue and are stuck in a currency totally unsuited to them. Millions of lives continue to be ruined by the wonderful EU. Youth unemployment at 50%, fascist parties rising up, democratic governments being overruled... and you want to tie us to this burning building.

abc · 21-05-2016, 01:11 PM

Originally Posted by -:Undertaker:-

@abc; And how can you pay for imports if you're not exporting anything? It's well known that Britain's exportation just is not good enough for an economy this size hence a huge trade deficit in that area. HENCE why the Bank of England has done everything it can over the past few years to weaken the Pound Sterling.

A weak currency rate helps a country export its way out of a hole in tough economic times. That's why there's such a problem in Greece, Spain, Portugal and so on as they, being a part of the Euro, are unable to devalue and are stuck in a currency totally unsuited to them. Millions of lives continue to be ruined by the wonderful EU. Youth unemployment at 50%, fascist parties rising up, democratic governments being overruled... and you want to tie us to this burning building.

The UK damaged its exports when it started raising minimum wage.

Pretty much the whole county relies on cheaper imports hence a stronger pound will help every person in this country. And I have proven over and over again that being in the EU strengthens the pound and the fear of leaving weakens the pounds.

You said a few weeks/months ago that being in or out of the EU will not affect our exports. Why? It is because people buy our exports because our exports are not cheap goods, but more specialised items (and we are favoured by those importing our goods due to our high quality):

Pearls, gems, precious metals and coins (18% of total exports)
Machinery (13% of total exports)
Mineral fuels including oil (11.5% of total exports)
Pharmaceutical products (6% of total exports)
Optical, technical and medical apparatus (3.4%)
Aircraft and spacecraft (3.3%)
Organic chemicals (2.4%)

Hence our exports will not be significantly affected as we are exporting specialised items. What you fail to understand is, if our imports become more expensive (due to a weaker pound which you seem to favour... which is ridiculous) the price for almost everything we buy will increase. This means inflation will be at a higher rate, which means the wages will need to increase which automatically makes our exports more expensive as companies are paying a higher wage.

It is vital for UK that we have a strong currency.