Much of the effect of the UK crashing out has already been factored into the GBP -
That being said, I'm not an expert, and I don't think anyone can adequately predict what will happen in November and December
Posted on 07/29/2019 3:43:50 AM PDT by Cronos
Vauxhall has drawn up plans to shut production in Ellesmere Port after Brexit in a move that threatens around 1,000 UK jobs.
The car giant's owner PSA has earmarked a site in southern Europe to build the Astra and Opel Astra if trade between the UK and EU becomes too expensive.
It is yet another blow to workers at the Cheshire plant, where three rounds of job cuts have been announced in the last three years (though not necessarily linked to Brexit).
A host of car giants including Ford and Jaguar Land Rover have already scaled back production in the UK.
Yet Boris Johnson's ministers are now assuming there will be a No Deal Brexit - with £1bn plunged into planning and daily crisis meetings starting today.
PSA Chief Executive Carlos Tavares told the Financial Times: "Frankly I would prefer to put it in Ellesmere Port.
“But if the conditions are bad and I cannot make it profitable, then I have to protect the rest of the company and I will not do it.
"We have an alternative to Ellesmere Port."
The UK plans to put 10.6% tariffs on "fully finished" cars from the minute we leave the EU without a deal on October 31.
The Society of Motor Manufacturers and Traders told Boris Johnson on Friday a no-deal Brexit was an "existential threat".
(Excerpt) Read more at mirror.co.uk ...
If the Chinese can devaluate their currency, why can't the British?
More scare tactics from desperate remainers.
well
1. Devaluing the pound is a prestige loss
2. It also hits a largely importing country that imports WiP and exports WiP
The UK is a small, overcrowded island, pressed up against Europe, that capitalizes on it vast global commercial and political reputation and relies on its historical bonds with the US to maintain a position of influence. A country in that situation which experiences a currency devaluation doesn’t tend to do so well.
The UK would command less influence with other global powers. There would a reputational loss, which would carry a loss of material wealth.
Being outside the EU means no preferential trading rules. IF the UK wants to be having those preferential trading rules then it will have to follow EU regulations.
An example of this already happened once in UK history, in the late 1960s, when Harold Wilson devalued the GBP by 10p in order to appease the US and give way to the $USD hegemony for international oil trades. UK influence reduced as a result and the UK was no longer the top player at the big boys table.
That’s correct. The Society of Motor Manufacturers and Traders told Boris Johnson on Friday a no-deal Brexit was an “existential threat” is just a scare tactic from employers - those blasted remainers
Hard to lose what you don't have.
On the other hand, if the US has the UK's back while the UK deals with the EU, the EU will find it much harder to continue screwing the UK.
saying hard to lose what you don't have is false in the case of the UK in July 2019.
Furthermore, in the financial markets reputation is everything - if the UK is viewed as a bad country to loan to, then the costs of its loans go up - view Argentina during the Cristina years.
And how would the US have the UK’s back? It hasn’t shown anything so far. Even if the USA opens its markets to the UK with nothing expected in return, then the UK still has little to export to the USA
and how exactly in your opinion is the EU screwing the UK?
I can think of 13 billion ways for starters....
U.S.-UK Trade and Investment Ties
Why do you think the EU is holding on so tight to the UK? If the UK frees itself from the EU, Katie bar the door.
And that’s just the economics.
After the passage of Articles 15 and 17, formerly 11 and 13, I’d say those put paid to attempts to make the EU look benign.
A no-deal Brexit would lead to a lower pound anyway, due to market jitters, and if it didn’t, it would be a sign that the economy was doing very well and the fearmongering a load of balderdash.
Mass immigration from the EU that has led to soaring house prices but lower wages, strain on infrastructer due to unpredictable numbers needing schools, hospitals etc, manufacturing firms also get EU funding to move abroad to places like Poland, oh, and not to mention the fishing industry being virtually destroyed thanks to the CFP. If it wasn’t for that, we’d have one of the largest fishing industries in Europe. I could go on.
The UK agreed to the 7 year budget in 2014. That she is leaving half-way doesn't end those projects - many of whom are still in flight- nor does it end the obligations for paying for the retirements for folks like Nigel Farage MEP
The amount the UK is to pay is for that, not for anything else - it's not a fee for leaving, nor a divorce bill, but continuation of what the UK agreed to pay back in 2014.
I agree...but an open trade deal between the US/UK will be the beginning of the end for the Euro, and they know it!
The link you posted is about the UK investing in the USA and vice-versa.
Why have American firms invested in the UK? As a place to manufacture stuff that goes into other european countries.
Once the UK leaves the EU, there is no benefit in remaining in the UK - they are going to shift operations to the mainland.
The webpage also says that the US is the UK’s largest export market and 2nd largest source — that’s sneaky as it takes the first statistic based on individual countries and the second clubbing the rest of the EU as a blocK
And, the EU isn’t holding on so tight to the UK. The UK said it was leaving on March 29, 2019 but then the UK begged twice to extend it.
The EU didn’t say no at any stage.
It is the UK holding on tight to the EU.
Much of the effect of the UK crashing out has already been factored into the GBP -
That being said, I'm not an expert, and I don't think anyone can adequately predict what will happen in November and December
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