The battle of Brexit!

[kato]

Nobody ever asked me whether i wanted to give the UK a rebate either.

[Toby]

Why not ...everybody else gets one...Italy get the best one.....as they get back more or less what they put in ....France gets kick backs for its farmers....amounts to the same thing....
Free trade is all we want ...nothing else thanks....
Pounds getting stronger today...something must be in the wind...

[kato]

Italy is a net contributor...
France is a net contributor...
both get what they're due with their agriculture.

Guess which country hasn't paid its dues since 1987 or so.

As for the pound, perhaps this is the reason:
http://www.bbc.com/news/uk-politics-41774817
I mean, what better for the pound than having British investments locked into the EU - at Euro value - for the next thirty years - where they won't suffer British economic decline.

[Toby]

[Toby]

Italy is a net contributor...
France is a net contributor...
both get what they're due with their agriculture.

Guess which country hasn't paid its dues since 1987 or so.

As for the pound, perhaps this is the reason:
http://www.bbc.com/news/uk-politics-41774817
I mean, what better for the pound than having British investments locked into the EU - at Euro value - for the next thirty years - where they won't suffer British economic decline.

This rebate thing you keep banging on about is irrelevant.. We're only holding onto our own money. An institution that can't sign off its own accounts without serious anomalies being present isn't fit for purpose anyway and should be thankful it isn't liquidated...Because it would be in any other walk of life.

[kato]

This rebate thing you keep banging on about is irrelevant.. We're only holding onto our own money.

Actually the rebate is structured such that you do pay your full duty - and then receive a cashback cheque from the EU. As in, the rebate isn't a cut in the British contribution, it's a cashback cheque that the EU is handing the UK.

P.S.: Enoch Powell? Seriously? I mean, the guy is like a one-person representation of every prejudice the continent has had about Britain since... WW1 or so.

[Toby]

Actually the rebate is structured such that you do pay your full duty - and then receive a cashback cheque from the EU. As in, the rebate isn't a cut in the British contribution, it's a cashback cheque that the EU is handing the UK.

Well done Maggie!

P.S.: Enoch Powell? Seriously? I mean, the guy is like a one-person representation of every prejudice the continent has had about Britain since... WW1 or so.

Well you seem to delight in stirring things.....I thought you'd appreciate my contribution... ;-)

[Toby]

The only thing that concerns me about any of this is where will Zara move next ..Lombardia maybe or Veneto?..... shes developing a bit of a reputation from what I can see....

[snapper]

and yet employment is at its highest in 40 years...

And productivity at almost record lows.

[Toby]

And productivity at almost record lows.

Really? and yet the UK economy grew 0.4%, slightly faster than expected during the third quarter, as expansion in manufacturing and services offset a contraction in construction.

https://www.ft.com/content/052c6948-...b-4a9c83ffa852

A Contraction in construction???? BOLLOCKS!! Goto Manchester its being rebuilt and expanded before your very eyes...lol

[snapper]

Well ok let me explain... Economists say that basically when you get to about 3/4% unemployment you basically have all those who want a job or can work working. Obviously some people are not on the books for starters - some may be chronically ill or whatever. But if the UK has this record low unemployment wages should be rising far faster than they are. Of course the 3% inflation rate due to the devaluation of GDP doesn't help - presumably the Old Lady will rise interest rates as it has a duty to keep inflation below 2%. But the fact is wage growth has lagged behind inflation since 2009. So one of the reasons for this is zero increase in productivity - which has fallen compared to employment since 2007. This explains the continued low wage growth and the record increase in consumer borrowing (about which the BoE warned recently) - people may be working but getting wages and salaries they cannot live on so are having to borrow to get by. A rate rise them may drive alot of them under. Point is productivity needs to rise as well as employment for it to mean anything.

http://www.bbc.co.uk/news/business-41523230

[Toby]

Well ok let me explain... Economists say that basically when you get to about 3/4% unemployment you basically have all those who want a job or can work working. Obviously some people are not on the books for starters - some may be chronically ill or whatever. But if the UK has this record low unemployment wages should be rising far faster than they are. Of course the 3% inflation rate due to the devaluation of GDP doesn't help - presumably the Old Lady will rise interest rates as it has a duty to keep inflation below 2%. But the fact is wage growth has lagged behind inflation since 2009. So one of the reasons for this is zero increase in productivity - which has fallen compared to employment since 2007. This explains the continued low wage growth and the record increase in consumer borrowing (about which the BoE warned recently) - people may be working but getting wages and salaries they cannot live on so are having to borrow to get by. A rate rise them may drive alot of them under. Point is productivity needs to rise as well as employment for it to mean anything.

http://www.bbc.co.uk/news/business-41523230

Thats strange because my reading recently was basically saying we were as a country borrowing less than we had for a generation. My main Beef Snapper is this is all headlines..who do you believe because we are both quoting the same media or analyst's and they contradict themselves at an alarming rate......Alas people tend to read into things what they want to!
With regards to your point about low wages. This in part has been caused by mass immigration. We have an EU working population from various countries in the east and southern Europe working for less money than their British counterpart. Which is great for employers but not so great for the employee. Alas I don't have this problem as I work for myself, but I am working harder than I have ever worked just to keep things on an even keel. It will be interesting to see if interest rates do go up. As you say they will have to to control inflation, but I reckon that could be potentially more damaging than higher inflation with regards to Mortgages

[zara]

The only thing that concerns me about any of this is where will Zara move next ..Lombardia maybe or Veneto?..... shes developing a bit of a reputation from what I can see....

I'm staying put! As it appears are the Catalans. They don't appear to be as gullible as British separatists.

[Toby]

I'm staying put! As it appears are the Catalans. They don't appear to be as gullible as British separatists.

They don't want to leave the EU ..they want to leave Spain. Quite different. But I agree that they are too closely intertwined. Just as Scotland is to the UK. R. Ireland is also too closely intertwined with the UK but chose its own path, so that they could give it all away to the EU. A cunning plan some might say????

[zara]

They don't want to leave the EU ..they want to leave Spain. Quite different. But I agree that they are too closely intertwined. Just as Scotland is to the UK. R. Ireland is also too closely intertwined with the UK but chose its own path, so that they could give it all away to the EU. A cunning plan some might say????

The last few days leaves a feeling that the Catalans don't quite want to quit after all..

The Island of Ireland has been greatly enhanced in power and wealth thanks to the European Union, despite being a net contributor. It's not just about pounds and pence but even if it was single market membership leaves us quids in, just like the UK even if many Brits don't yet realise it.