Posted on 04/18/2016 2:03:30 PM PDT by SunkenCiv
The Chancellor says income tax could rise by 8% and billions would be cut from public services if the UK votes to leave the EU... says Treasury analysis has found that UK tax receipts would be £36bn-a-year lower after 15 years... the amount the officials calculate the exchequer would lose if Britain was forced to enter a trade deal similar to that which Canada has recently negotiated. The figure is the same as eight pence in the pound added to income tax. The 'Canadian model' is the scenario that many who want to leave say would be in Britain's best interest if the UK was to quit the bloc, including Mayor of London Boris Johnson... Leave campaigners have dismissed the findings, with some, including MP Bernard Jenkin, describing Mr Osborne's use of Treasury staff as part of the remain campaign an "abuse". Mr Osborne said: "Under any alternative, we'd trade less, do less business and receive less investment... But Conservative MP and leave campaigner Andrea Leadsom told Sky News: "What today's report asks us to make is some enormous assumptions. For example, it doesn't take account of the potential for doing trade with the rest of the world. Let's face it; the EU accounts for only 17% of world GDP which means the other 83% is outside the EU, so that is where the growth potential lies." ...Former Chancellor and Out campaigner Lord Lamont told Sky News that Mr Osborne's forcast was "flimsy... The idea that someone can be absolutely certain about what things will look like after 14 years is frankly absurd," he said. "I think they ought to be a bit careful on predicting disaster. At the very least, Britain will trade with the EU in the same way that other countries trade with the EU."
(Excerpt) Read more at news.sky.com ...
Y'know, the editor has been working much better for me since the DNS problem got solved. I've been using a local "hosts" file as the fix, and didn't notice the most recent outage, because it didn't happen here.
Ya know why divorces cost so much?
Cause they are worth it.
will the sky fall down too?
ha ha ha
LOL!
Norm: “Women — ya can’t live with ‘em. Pass the beer nuts.”
Or they can continue to be the EuroTittie that all the nations suck on. Take your lumps, leave the EU and get back on track. not like you didn’t have a long, storied history before the EU.
Being devils advocate for a moment, it could be argued that whilst it would be nice to see the EU implode, what if it didn’t and we left and we’d be an isolated country facing the combined and pooled diplomatic, political and economic resources of a very large and spurned quasi-empire that will want to crush us and make us suffer for our impertinence at leaving them. We don’t have the juice to negotiate on equal terms with a political entity 10 times our size in population and a much larger economy.
:') If the UK is getting a defacto subsidy for staying in the EU, that subsidy must be coming from, shall we say, more prosperous EU members -- so, why would those other gov'ts be so hot to get the UK to stay in?
“so, why would those other gov’ts be so hot to get the UK to stay in?”
So the socialists, and UN can bleed them dry!
“Being devils advocate for a moment, it could be argued that whilst it would be nice to see the EU implode, what if it didn’t and we left and we’d be an isolated country facing the combined and pooled diplomatic, political and economic resources of a very large and spurned quasi-empire that will want to crush us and make us suffer for our impertinence at leaving them. We don’t have the juice to negotiate on equal terms with a political entity 10 times our size in population and a much larger economy.”
We could offer you territorial status...
US Territories are essentially colonies.
Perhaps that’s worth worrying about, but some years ago, Ireland’s land got expensive, and Irish farmers, producing for the EU (or perhaps still EEC) market, wound up leasing or buying land in Britain to expand their production. Wheat is wheat is wheat, the UK product would wind up in Europe anyway. :’)
Note that Osbourne has chosen to focus on GDP and tax receipts.
Wonder what the effects are on government spending, at all levels of government? Massively fewer immigrants mean higher wages, less welfare, lower school costs, etc.
Everyone still wants to sell their wares here.
So? Do it anyway. Save your Souls!
Just what you want to be... a colony to a banana republic.
“US Territories are essentially colonies.”
True, but the United States is the land of boundless opportunity. You could become a state one day. Perhaps two or three.
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