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Jools

The Positive Brexit Thread

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Ask all the poor blighters who had items missing from their prescriptions at my Pharmacy this morning. Two items not available on Mrs KG's docket. 

Oh well, if Covid didn't get her, lets hope shortage of medicines will eh Boris?

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1 hour ago, keelansgrandad said:

Ask all the poor blighters who had items missing from their prescriptions at my Pharmacy this morning. Two items not available on Mrs KG's docket. 

Oh well, if Covid didn't get her, lets hope shortage of medicines will eh Boris?

My wife did to, and has even had major changes due to items no longer being available. Didn’t realise it was a National thing ?

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10 minutes ago, Well b back said:

Nothing to do with Brexit, it’s down to how far things fell because of COVID.

 

It just shows how well we can do outside the EU as most remainers were saying we would do badly 

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1 minute ago, SwindonCanary said:

It just shows how well we can do outside the EU as most remainers were saying we would do badly 

So are you saying the U.K. economy crashed because of COVID or Brexit as the only reason it can grow to this extent is because of how low it went. As an economist surely you have taken that into account when quoting the article. This is indeed very good news, but COVID related not Brexit. I see the US were telling us today there wouldn’t be a trade deal anytime soon and warned us about NI.

Hows the EU vaccine roll out going ? Haven’t heard you or Johnson mentioning it recently so I guess they must be vaccinating close on 3.5 million a day with several of the major countries in the EU ramping up their efforts further from today. Seems like they could be done around the same time as us ? Then again I think you said I was lying when I said this might happen in January.

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33 minutes ago, SwindonCanary said:

It just shows how well we can do outside the EU as most remainers were saying we would do badly 

Ever seen Goodfellas?

You're funny.

Whadya mean I'm funny.

Our economy plummeted because of Covid. After June, it is predicted to climb back to previous levels. Not growing any more than it should.

No Brexit boost. Just everything getting back to normal.

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22 minutes ago, keelansgrandad said:

Just everything getting back to normal.

that's not what those supporting the EU were saying if we left 

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For goodness sakes. The economy collapsed because of Covid. It is rapidly rising because we are coming out of Covid restrictions. We will be able to see a clearer picture of what brexit is doing to the economy soon. 

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2 hours ago, SwindonCanary said:

 

1 hour ago, SwindonCanary said:

It just shows how well we can do outside the EU as most remainers were saying we would do badly 

For someone who self-describes as an economic genius you do somewhat struggle with the most basic of facts. Let me try and help you out with a very simple example: Imagine I have a £100 but due to a reckless economic decision I lose £99 of that, meaning I am left with a solitary £1. Now suppose I begin a "magnificent" economic recovery and my wealth grows by a personal record of 100%, that will leave me with a "princely" sum of £2. Had I not been so reckless in the first place and retained my £100 a mere 1% growth on that would have yielded the same increase in wealth as 100% growth on £1 (only I would now have £101 and not £2).

Moral of the story: when you hit the depths of economic decline, any record growth that follows, while welcome, doesn't mean you are reaching anywhere near the level of economic wealth that you should have.

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49 minutes ago, SwindonCanary said:

that's not what those supporting the EU were saying if we left 

I think I prefer to believe the likes of the governor Bank of England rather than your fake garbage. 
 

The governor of the Bank of England says that the central bank's growth forecast of 7.25% this year doesn't represent a boom - but more a bounce back.

Andrew Bailey insists this is still good news, and says that the country is going to see a strong recovery this year.

However, he warned that by the end of this year, output in the economy "will be back to where it was the end of 2019" and we should always remember we've had an economy with no growth for two years.

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All going to sh!t for the EU

Brussels bid to cut off the City is backfiring, watchdog warns

A Brussels plot to lock the City out of European markets has backfired and harmed the finances of banks on the Continent, the boss of the UK's finance watchdog has said.

Nikhil Rathi, head of the Financial Conduct Authority (FCA), said in a first major intervention that European Union lenders have lost market share because of resistance to a so-called equivalence deal that would have preserved ties with Britain.

He added that the UK will not now pursue access to the EU at any price - and vowed to use the country's post-Brexit freedoms to redraft cumbersome regulations.

Mr Rathi said: "EU banks are now no longer able to offer to their clients full access to all pools of global liquidity for the trading of interest rate swaps and certain credit derivatives, as UK venues have retained material market share in various products.

"This loss of access to liquidity reduces competitive choice in the market for UK and rest of the world clients and, unsurprisingly, it has been reported that some EU banks have lost market share in these market segments.

"This means higher costs for EU firms, with a direct impact on the prices they can offer to their clients. And inevitably, UK and rest of the world clients, are left with no choice but to plan for further contingencies in which EU firms are unable to service a wider range of their needs."

The interest swap market is crucial for a host of products offered to ordinary consumers, such as fixed rate mortgages. If banks are less able to access key trading hubs such as the City - which dominates the European derivatives market - then costs for their customers will ultimately go up.

Mr Rathi's comments follow a difficult period leading up to the UK’s exit from the EU, with the finance sector largely excluded from the Brexit trade deal and City firms now stripped of their vital EU passporting rights.

Firms had been relying on access through an equivalence regime, where Britain's rules are deemed to be so similar to the EU's that cross-border trading is fair to both sides.

The UK has granted equivalence access for European firms in a host of areas. Even though British and European regulations were exactly the same at the time of Brexit, and remain virtually identical, the EU has refused to reciprocate. This has forced its banks to go to less developed markets on the Continent for some services.

Banking insiders have said in recent weeks that they have largely given up any hope of being granted equivalence. 

Speaking to the Association of Foreign Banks, Mr Rathi added that the UK would not "target equivalence at any cost", including passing up opportunities to make markets function better, and said he recognised the "increased flexibility" now available due to Brexit.  

He said: "We will use our autonomy to regulate for the benefit of UK financial markets and consumers."

It comes days after bankers said Treasury officials had indicated that they "want to flex their Brexit muscle" with an overhaul of City rules. 

 

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26 minutes ago, Herman said:

Torygraph.😐

Rathi was a private secretary to Gordon Brown

Edited by Van wink
  • Haha 1

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2 minutes ago, Van wink said:

Rathi was a private secretary to Gordon Brown

If you can find me his speech that hasn't been put through the Torygraph Brexit mangle I'll happily read it.

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14 minutes ago, Herman said:

If you can find me his speech that hasn't been put through the Torygraph Brexit mangle I'll happily read it.

https://www.cityam.com/fca-ceo-we-will-not-target-an-eu-equivalence-deal-at-any-cost/

https://www.reuters.com/business/finance/britain-says-it-wont-seek-eu-access-city-london-any-cost-2021-05-06/

https://www.moneymarketing.co.uk/news/fca-cannot-target-eu-equivalence-at-any-cost-ceo-says/feed/

https://www.fca.org.uk/news/speeches/regulation-different-world

 

You've got internet access the same as the rest of us, Herminge..

Why do you rely on others to research for you? Maybe if you researched before commenting you might avoid constantly making a fool of yourself.

 

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42 minutes ago, Jools said:

Says the infamous poster of lunatic QAnon videos that day after day claimed the US election result was about to be overturned in the next few hours. Treat yourself to a good laugh and review your contributions on the US election threads. If you think posting that insane garbage constitutes anything resembling "research" that explains an awful lot about the asinine level of your posts.

  • Thanks 1

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8 hours ago, Well b back said:

Unfortunately that’s not what this recent report says.

https://newfinancial.org/brexit-the-city-the-impact-so-far/

Written by two financial journalists who have done some googling to write a financial report. Equivalent to national league footballers next to a Premier League Nikhil Rathi, head of Financial Conduct Authority. I know which one I believe.

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Early results. Mostly expected, some not so.

UKIP dead.

Cons mopping up dead Kipper vote and doing well.

Labour losing a lot.

LibDems and Greens picking up a few. (Sunderland?)

Hartlepool conceded already by Labour but no result yet.

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9 hours ago, SwindonCanary said:

image.png.1703e6f4121e4273f88c76945301aabc.png

jingoistic idiotic and typical of those who are wrecking the country for their personal cronyism and greed.

Here are some facts for feeble minds.

https://www.craigmurray.org.uk/archives/2021/05/channel-islands-fisheries-and-abuse-by-tory-jingoism/comment-page-1/#comment-988285

  • Like 1

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2 hours ago, Herman said:

Early results. Mostly expected, some not so.

UKIP dead.

Cons mopping up dead Kipper vote and doing well.

Labour losing a lot.

LibDems and Greens picking up a few. (Sunderland?)

Hartlepool conceded already by Labour but no result yet.

UKIP has taken up residence in the Tory party. 

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25 minutes ago, nevermind, neoliberalism has had it said:

jingoistic idiotic and typical of those who are wrecking the country for their personal cronyism and greed.

Here are some facts for feeble minds.

https://www.craigmurray.org.uk/archives/2021/05/channel-islands-fisheries-and-abuse-by-tory-jingoism/comment-page-1/#comment-988285

image.png.c51bcccb702668e899dbe64d2a41b05a.png

I thought Great Britain were at home, and also there must be a second leg. 

Edited by dj11
  • Haha 2

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5 hours ago, Rock The Boat said:

Written by two financial journalists who have done some googling to write a financial report. Equivalent to national league footballers next to a Premier League Nikhil Rathi, head of Financial Conduct Authority. I know which one I believe.

So many contradictions.

People seem to see what they want to see.

Mind you, Polly at Bovill seems to have had some hard facts at hand. I just wonder what the current situation is.  

 

https://www.bovill.com/london-set-to-remain-financial-services-capital-of-europe-as-over-1000-eu-firms-plan-to-open-uk-offices/

Edited by BroadstairsR

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