Bank of England experts outline how Brexit destroyed the UK economy
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- เผยแพร่เมื่อ 18 พ.ย. 2022
- Not news but Brexit absolutely decimated the lives and institutions of Britain, as senior figures in the Bank of England outline in the Treasury Committee.
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Surprisingly, in France, politicians who were actively promoting "Frexit" after Brexit was successfully achieved, have now completely stopped doing so. "Frexit is not our project at all !" claimed the french extreme right leader in April. 😂
Why would they? Germany has to pay French farmers Bns of Euros to support the CAP, the French farmers would riot if they lost German subsidies.
@@rhythmstic Germans are not paying for French subsidies France is a net contributor.
@@rhythmstic
Brexit was about "Let's take back control. We want our country back." Remember? The French could make the exact same claims. But they know they are lies.
Britain is now controlled by corporations.
It's all over Europe. Nobody is talking about leaving the EU anymore.
I'd like to use the opportunity to thank Vladimir Vladimirovich for herring rid of the whining UK, and at the same time strengthening Europe. Two birds with one stone!
@@rhythmstic Germany? Netherlands is the country that pay the most per Capita.
I'm a Brit living in Germany since 2010 and I run a small business here. Before Brexit I would order materials from the U.K. , the prices were competitive and delivery was quick. Since Brexit, it no longer makes sense to order from the U.K. The prices are not as competitive but the most problematic part is that delivery is often delayed considerably, due to customs issues. I can't rely on receiving orders on time. This causes real problems for my business as I order materials for specific projects with tight deadlines. With inflation currently at about 10%, my primary concern is how to maximize my savings/retirement fund of about £600k which has been sitting duck since forever with zero to no gains.
That is everywhere. The problem is, with a rising labor shortage, that industry will be the hardest hit. Fundamentally, restaurants as an industry are only viable with cheap labor and cheap rent. Right now, we have neither.
@Stanley Edwin Heard it's a good time to buy and basically I've just got cash sitting duck in the bank and I’d really love to put it to good use seeing how inflation is at an all time-high, who is this coach that guides you, mind I look them up?
@@baileymclean8186 when England was in Europe, imports were much faster because there were fewer checks and also at a lower price. now everything imported from England costs almost double due to taxes.
Glen Bert I used to order parts from Germany but because of Brexit they were to expensive and to much hassle I sent 1 of the parts to America for an American fabrication company to see if they could produce a similar part that would be fit for purpose they sent me samples and cost and the samples were perfect and the cost was cheaper than I had been paying from Germany jeez even with shipping costs and after the initial lead time I am now saving thousands of pounds a quarter THANK GOD FOR BREXIT OR I WOULD STILL BE PAYING FAR TO MUCH I have since done the same for other parts I use in my products which I was importing from the eu and I’m over the moon business is booming and my staff got a fantastic Xmas bonus thanks to Brexit
@Churchill By the end of this decade,, countries like Slovenia or the Czech Republic will have a higher GDP per Capita than Britain. CANZUK does not matter.
This is what happens when people vote, whose comprehension of economics, is what they read in the Sun or the Daily Star. Bless 'em.
It's not all about economics.
@@Lee_303 What the Bank of England is discussing, is.
@@Lee_303 Yeah, it was about "TaKiNG BaCK CoNTRoL"
How's that working out for you?
@@HCP5 I'm rich, it's not going to affect me. How's it working out for you?
So spending less coming away from the EU makes us poor ???? There's me thinking the EU had to find that extra 10 billion quid they shouldn't be getting from us any more ?
Finally, people are discussing the massive elephant in the room!👍
Nah, it's all project fear.. right? right?...
@@utubebroadcaster Yes. Every economy on earth is in turmoil, and the government/s are doing it on purpose. They didn't shut down the economy for two years for 'health reasons' LOL. They're planning to completely restructure / reset the population.
The fact they still skirt around it after all this time with wording like "I'm gona bring the B word in" is ridiculous.
Finally? Swati Dingra never shuts up about it.
@@flood291 yeah, funny that they filmed this before the full committee was present to challenge them. A set up to further feed the already brainwashed.
The only hope I have is that Scotland and Northern Ireland can leave ASAP, since this was mostly an English-created (and, to a lesser extent, Welsh but no-one really cares) disaster.
basic geography, scotland has to trade through england to trade with the EU.
not only that but scotland doesnt have its own currency.
scotland literally couldnt be a member of the EU without england at the present.... it would take a decade at the least as they jump through hoops just to meet the requirements too apply.
not only that but the inflation in europe will increase in the coming years, more european countries sourced their energy imports negligently than those who were dilligent.
the entire world is currently paying the price for that, not just the EU.
honestly the country i fear for most at the moment is norway, for the longest time they've maintained a very intelligent balance between their energy sector and other economic sectors.
countries that become reliant on their energy sector tend to end up like venezuela.
i really hope after decades of dilligent and intelligent management, this european mess thats been created wont hit norway in the face.
because they did everything right. -everything- and now they are being pressured to export more oil heavily.
i just pray it doesnt end up biting norway in the ass, as currently they are one of the best beacons of a successful democracy.
A significant majority in London/Greater London also voted remain (higher than Wales), not sure that area can secede though (or vote SNP for that matter)!
Give the sheep fuсkera a break.
The Welsh claim they voted against Brexit, and cite the large number of English pensioners as the reason.
@@LMB222 You could be on to a bigger issue: if the ~ 2.5M 16-18 year old votes were allowed during 2016 Brexit the UK would have tilted the balance to remain based on extending the age demographic of 79% of 18 - 21's voting to remain! Ironically only 40% of the over 65 and a mere 30% of over 75 voted to remain considering most of that demographic would not even still be alive to reap the benefits or suffer the consequences of that decision!
@@mpwaterhouse
It is estimated that only 36% of young people voted in the referendum. Which means 64% did not bother. Of that 36%, it is estimated that 70% voted to remain. So only 27% out of every 100 eligible to vote, voted to remain. 64% of young people eligible to vote, couldn't be bothered to go out and do so.
Scotland and the six counties of Ulster voted to stay in Europe, England voted to leave and the so called "UK" then left, so we can take it without any hesitation that England is actually the UK.
You failed to mention they all voted to stay in the UK. Not everyone in NI, Scotland & Wales voted to stay in the EU.
btw the EU is not Europe, Britain is still in Europe .
Until you fully fund your own budget, yes, England will be the Power of the UK.
Basically it is. But there's a way people can regain their sovereignty: dissolve the UK.
Never quite understood the relationships that the UK countries had with each other. The Brexit decision further confused the matter. ie. Why was it ok for the UK (England) to enforce its particular understanding of democratically on the countries within the countries held inside the Union of the United Kingdom, who as independents with their own parliaments can't express their democratic wishes when it comes to issues that don't suit the English sector of Government. Non-democratic democracy, how democratic is that? And we dare to complain about how the EU apply their understanding of it.
Note from Germany: but at least you took back control, got the Empire back and got rid of all those lazy foreign farm workers, plumbers, waiters and nurses. Rule Britania (minus Northern Ireland and Scotland).
I gather that is sarcasm
Its good that fredrich here hasn't lost his sense of humour even after spending weeks chopping firewood from the jungle...
I know brexit is horrible and farage swindled the brexit gammon but rather rich of a german to make fun of it when german politicians fooled not just the germans but the whole continent and now people are going to freeze to death.
@@kth6736 It was 25°C today, I doubt I'll freeze. Germany doesn't control the continent's energy supply, you bellend. ^^
Jokes on you, German....At some point...Presumably.
@@sueyourself5413awww you hurt. Just make sure the swastika clad gam-gam doesnt freeze this winter. Kisses xoxo...
What happens to the 300 million that was going to the NHS very week when we left?
Went out the window
Since we've been out for years now that must amount to, oh, a big big sum of money by now. 🤣🤣
Yeh Boris had that on his bus.So Boris NHS Fixed now?
They go to border control and customs
Show me where it said 300 million was going to the NHS very week.
Or have you confused it with,
"LETS fund our NHS instead".
Airdog,
The Irish pay more into the European Union ( per person) than the UK did. Ireland has no problem in doing so.
The Irish export 33,% of its total exports to the European Union.
This compares to about 10% before we joined.
There is more to membership than subscriptions.
The Brexshiteers knew the price of everything and the value of nothing.
Our e onomey will shrink as a result of the war and interest rates, but we will not go into recession like the UK.
Sadly, yes you will, as the Irish banks are controlled by the brits. 1916 traded political subjugation of the Irish, for monetary subjugation, NOTHING more.
All is manipulated for the bankers benefit in collusion with the judiciary and financial regulatory authorities.
Love your comment the price of everything and the value of nothing, brilliantly spot on.
Who cares?What's your point?If the UK democratically decides to leave the EU that's their choice.Ups and downs.50 million Brits will go and live in Ireland? Don't think so..It's about sovereignty..I think you think you know something about that.We are glad we're out, I understand you and you understand us..'The price of everything and the value of nothing' Very true.It is good to be free.
@@martinmold1051 Good to be free when you’ve nothing left in your pocket. You ignore the fact that successive British governments have chosen to pool aspects of the country’s sovereign power in the EU in order to achieve national objectives that they could not have achieved on their own, such as creating the single market, enlarging the EU, constraining Iran’s nuclear programme, and helping to design an ambitious EU climate change strategy.
@@martinmold1051 Must be great to do more business with 'economic dwarf states' now than with Europe on your doorstep. How can you be so stubbornly stupid?
The elephant taking a giant dump in the room is now being discussed. Thank god
Good for the Rose's
My sister lives in Ireland and she told me any talk of leaving the EU like we say on my island there would be war.😅😅😅😅😅😅
The animosity toward England isn't surprising. Probably not helpful, but unsurprising
@@jailbreak852 I'm Irish. It has nothing to do with feelings about England and everything to do with the knowledge and understanding of the enormous benefits EU membership has brought to this country since we joined in 1973. Leaving the EU would be economic suicide, as it has been for Britain.
@@greenknitter the same thing my sister said.
@@jailbreak852 king Charles would be the head of my island i would prefer harry other than William because his wife and children looks like us.
@@oralogarro9932 that is just silly imho. I doubt you are even a person of colour.
I'm also pretty sure that kate didn't offend meghan but meghan thought that her status in the acting world and the little sucess that she was something more than she was and she found out that over here she was nobody special, hence running back to the states.
I could even imagine meghan's "who are you again?" to kate when she offered to help.
Still... it doesn't mean that she can't apologise, even on the down low or quietly, so to speak. And I, from what I've seen, would take william and kate any day of the week. Not sure if wills is as naive as he used to be but more study and getting more 360⁰ knowledgeable on issues will help I'm sure. For example, there has to be a balance called practical environmentalism and that must take into account rather than rely on scientific and historical information.
As a Brit living in the UK I know one thing, I now buy much my British produced foods from my local German owned discount supermarket, that unlike other UK chains, goes out of its way to stock British produce.
Did you vote for brexit??? The germans get something for every English carrot 🥕 sold in the German UK shop ... Nice thank you for supporting Germany 🇩🇪 🙏
😂😂😂
@@-BY205 😂😂😂
But a lot of EU products.
@@Zerpentsa6598 From around the world and.mostly China.
The problem is the UK government's never invested in the UK in the last 4o years
oh they did invested in to there own pocket's
Everywhere I look there are Wind Farms sprouting up. Govt investment being sucked up by German mnf as Siemens, they have just completed a gas pipeline to Norway and another energy line is being built to Morocco. We have amazing nuclear submarines our manpads stopped the Russkies in their tracks or rather blew their turrets off, we have new destroyers, long range torpedoes, we invested in graphene early on, there is HS2, smart motorways, drone swarm technologies, intelligence gathering, street cams everywhere, there is quite a lot going on actually ..
Thank you ,that is exactly the true ! To see that U.K. has fallen so far behind ! To ride the old trains was a kind of fun ,but to everyday not so much. Sad to thing a country could fall so behind and yet the country did have the money and give it all away!
Well done farage you bloody berk
bless his little british heart
He is one of the super wealthy who is benefiting financially from BREXIT - suprise surprise.
Yet he convinced millions of ignorant, brainless idiots that he was 'anti-establishment'! ...when he was very much 'the establishment' despite not being in government or even an MP.
So many people have been severely 'gaslit' by both the Tories, and people like Nigel Farage.
Whenever I see his face on the screen my anger goes up faster than inflation.
Everyone in the uk has given up can the last person to leave turn the lights off
We were taken over by foreign parasites quite some time ago. Every government for more than a century has been controlled.
@@chrism415 yep I agree💯I also think that the labour / conservative thing is all just for show to give the illusion that we have a democracy.
So, it looks the Turkeys did vote for Christmas after all.
farage doesnt care he knew all along
Knew what?
Farage basically knowingly spread incorrect information so the media would address it but that also gave it more attention
yeah he will be sipping tea in his mansion driving around in astons like a true british degenerate
Oh hes on to his next stir up shit project, down Dover in a boat pointing out the refugees.
@@tomlxyz and what would that be?
People knew this, and they accepted it, as the price they were willing to pay to be free of the shackles of the EU. Not sure what those shackles were.
I think people were willing to risk a bit of their economy if that meant less foreigners to interact with on a daily basis.
Only standarization across and with all other European countries. But, I believe the main goal or promise of Brexit was to be able to better control borders or more importantly and more specifically, the influx of immigrants (i.e. reduce that influx). Everything else, all the "negatives" that were clearly told as a warning, weren't important enough to outweigh keeping the migrants out. Very dumb thinking in the end.
The thrust of the Brexit campaign was that it would be beneficial to the Economy not that there would be a cost and price to pay.
@@amacuro yikes, did they think they'd get *less* foreigners by exiting the deal that allowed the government to send foreign migrants entering the UK away to sweden and germany? no wonder theres so much noise about record numbers of immigrants in the uk that have constantly kept increasing after brexit due to the lack of infrastructure to move them away.
Some half-hearted actions on undermining tax dodging. EU-wide standards on workers rights, customer rights and environment protection. Very minimal standards even the poorest countries would be able to adhere to. Yet way too much for Brexiters.
I wrote a couple of years ago on TH-cam that logically Brexit would be disaster due to followings:
1. England has very little manufacturing so manufacturing goods imported would be more expensive.
2. There is inadequate farming in England to feed the English people. This is mostly due to the weather. You simply can’t grow oranges or pineapples in England. Since they will be imported they would be more expensive post Brexit.
3. England’s financial services which is the biggest money maker to the country would suffer as London would no longer be the financial centre of Europe. It would be Frankfurt.
Thus expenses would increase while revenue would shrink. That makes the country poorer.
You were spot on.
@@esoekidjo
Thank you but why is that the idiots that run the country did not figures it? I think people like David Cameron or Nigel Farage are on the take.
I lived in Croatia in the early 2000s, they needed to join the EU for much the same reasons, farmers weren't producing much because the county was being flooded with cheaper EU subsidised produce. Most of Croatias industry was decimated just before the Yugoslav civil war when the IMF forced them to sell off all nationalised industries in order to qualify for loans.
The UK's biggest problem is that they think they have sovereignty over financial decisions and its clear now that like Yugoslavia 30 years ago, the banks and financial sector have a huge influence in what happens to the economy. Often the markets will not work in our favour.
And this is why Germany has been attacked
1. England has very little manufacturing so manufacturing goods imported would be more expensive. How does leaving the EU impact on this? the cost of imported goods would go down for businesses if we reduced tariffs not up,
2. There is inadequate farming in England to feed the English people. This is mostly due to the weather. You simply can’t grow oranges or pineapples in England. Since they will be imported they would be more expensive post Brexit. You seem to be making the assumption that anything imported would be more expensive, why?
3. England’s financial services which is the biggest money maker to the country would suffer as London would no longer be the financial centre of Europe. It would be Frankfurt. This hasn't happened
You don't get it... all we wanted was bendy bananas! The bananas are bendy again, rule Britania!
Sovereign tea and happy fish.
do not forget, they got rid of carney because he said it was madness. and this guy was ok to go along with it for a bit earning 500k a year.
The bank doesn't decide whether or not to "go along with it", that's a gov policy decision. The bank can just say what they think the effects will be, which they did.
Why do you think £500K is a lot of money? He earns more than that a week in investments. Mark Carney told everyone Brexit is self inflicted economic harm, they told him to be quite.
But hey! we've got back 350 mil every week in NHS. NOT!
These must be the experts Brexiters refuse to listen.
Guess we should’ve listened to the experts!?
Hahaha, right... I guess it's time for your next instalment of myocarditis, I mean, 'booster'?
@@MarroniMusic 💩🤡
@@militantcapitalist4606 Fantastic point. I'd never looked at it that way before!
Load of cwap!!
No we should make the X SPURTS work for a living
Here is an interesting fact.
When a brexiteer dies he goes to brexit paradise.
Once there he is welcomed by ayatollah Fahrage who gives him a blue passport, the keys to a country side mansion, a rolls Royce with a chauffer, seventy two virgins, a couple of unicorns (because you never know), and subscription to unlimited milk with some tea in it.
Don't give up your day job.
says more about you than any brexiteer.
lol!
Sad watching the UK burn, but it was inevitable. Hope it can recover eventually.
Once people work out that the politicians are not going to come over the hill to save them and that its up to them to sort this, then there may be hope.
Where I live you can pick what job you want to do. It`s good for human rights in the workplace. Wages have gone up. Overtime as you want it. It`s just the left crying because they will have to work soon. No more excuses.
@@damianbutterworth2434 "It`s good for human rights in the workplace." You do realize that the brexiteers want to do away with the ECHR and any worker rights derived from the EU, right?
@@kimwit1307 I have to smoke outside in the snow with vibration white finger. Not good but it`s the Eu`s laws. There are so many jobs about in the UK that you choose the best one and the other have to catch up with working conditions. Supply and demand. Who`s going to be nasty if they are short of staff?
@@damianbutterworth2434 I assure you that having to smoke outside has nothing to do with EU laws.
"Who`s going to be nasty if they are short of staff?' You'd be surprised how they will start to cut corners. Give them a finger and they will take the arm.
Omg! Who could have predicted that 🤔
Those who use common sense...
I agree with all of it apart from Brexit is why we have austerity! Austerity is a political choice favoured by the Tories so they can distribute wealth to the rich! It’s never worked to help the economy in anyway possible!
One thing I have learned is not to trust politicians, Bankers, pharma, arms industry, civil service. If we had taken the opportunity to use our independence to run our own country instead of allowing a globalist establishment to conduct a long planned coup. The virus exposed our media, political cabal and the medical services for what they are. Don't blame Brexit for the activities of an administration that needs purging, pruning and punishing..
Austerity is a term used to describe a reduction in state spending, how is that re-distributing wealth? right now we have a crisis caused by state spending, ie. the opposite of 'austerity', the 2.4 trillion state debt currently accounts for 120 billion in interest payments a year, as the base interest rate increases this figure keeps rising which means we cant increase interest rates to keep inflation down without bankrupting the state, so of course 'austerity would have helped the economy. I say would have because there has never been a reduction in state spending nor a reduction in the NHS budget despite people constantly talking about 'austerity'
@@jamesandrew1750 The state spending was the redistribution of wealth. This is the fallout.
@@jamesandrew1750 interest payments made to the bank that printed the money, which is a state owned entity... austerity doesnt improve the fiscal position of a state, it just reduces the material quality of it. if the interest payments are manageable, they can extend into perpetuity with no repercussions. austerity is never required, apart from if the debt is not servicable. the kamikwazi budget was *more* debt. you dont do that if you cant service existing debt, because then you go bankrupt like sri lanka. austerity was not required, nowhere else in the world is insane enough to do it in a crisis either. more state spending and paying the debt off in better times is the correct choice.
It’s kind of like this, Brexit made the situation worse. If you can argue otherwise I would love to hear it. With the caveat you have to give example in reality.
Finally someone with the guts to tell Brexit damage has caused to the country. Got my respect.
Guts? Respect? It's a very popular opinion. What these establishment cretins will never have the courage to do is accept the devastating and unnecessary effects of 'lockdown.'
The media is starting to admit it. It’s truly undeniable now
Much respect. Hopefully this is the tipping point
Finally? The pro-brexit crowd, whatever their motives, have been calling this project fear for years.
We don't want to know what he thinks ,the people decided out . If he doesn't like it he can join the dole queue.
According to ONS the inflation rate in the Euro zone for October was 10.7% and for the UK it was just under 10 %. Membership of the EU apparently makes no difference to prices. The Labour politicians asking the questions here repeatedly try to get the BOE officials to rubbish Brexit but all they got was the recognition that the process of restoring our democracy and sovereignty has caused some disruption and uncertainty but this is to be expected , moreover the uncertainty was partly to do with the efforts of Remainers to overturn the vote and talk down the countrys prospects with dire predictions of catastrophe which has not transpired. There is also an attempt to pin the current spending cuts on Brexit and to minimise the effects of massive COVID borrowing and spending ( which really followed Labour economic doctrine ) and the war in Russia. It is worth pointing out that our worst period of austerity in recent decades began in 2010 when we were EU members.
Cameron's austerity was a wholly political choice and nothing to do with being in the EU. The Tories had tripled the national debt before the costs of Covid were added.
Inflation in the eurozone is similar to the UK, however the Eurozone is growing.
The only thing the eurozone is growing in is illegal immigrants….
link for data please?
BERLIN (AP) - The German government's panel of independent economic advisers forecast that Europe's biggest economy will shrink by 0.2% next year.
@@anthonyferris8912 that's one country, silly
Failed to see where brexit was the problem and not the government
Doesn’t matter what government have Brexit can never benefit U.K.
When the public vote for something that the Government has no intention of honouring ...result = a total dog's bollocks.
Well done chaps. Big thanks. Shall we vote either on everything else that requires some level of knowledge? I guess we don't need any space exploration since Grimsby hasn't been discovered fully of its potential yet...? Let's vote.
I love how you have to pretend that Britain is unique with these economic issues in order to feel as though you were right all along. Its all fantasy vibes. You live in a fantasy world and project it onto others. Amazing.
As Farage said "We got our country back" Yep we sure did!
Yup. Suck it off mofo x
All the way back to the 1970s
@@anthonycraig274 exactly my thoughts
British and proud, brilliant 👍
I voted remain, and I think Brexit made a dent, but by far the biggest factor in the UK current problems are this governments incompetence and corruption. They are not working in the best interests of this country.
Brexit mean Brexit!
Aren’t these the people Michael Gove says we’ve had enough of ? Fingers in ears lalalalal
UK Gdp has taken a hit !
Brexit has been a disaster no trade deal came as promised with USA ,it’s much easier to deal across the channel,we are alone ! We are better in a group
we would have had one with Trump as he is friend of the UK, Biden hates us though. It hasn't been great but we had the pandemic which certainly has been a disaster, you can't blame that on Brexit, although most remainers ignore that.
In my opinion Brexit was never meant to bring economical benefits. It was action taken to save the UK`s honor. Similar to the samurai, UK committed economical Seppuku. The people that wanted Brexit never cared about what will happen to the economy and how the working classes will deal with it. Well i hope it works out for UK, but as a European i do not quite understand why this desigeon was taken.
So many people that supported Brexit say that the promises (which have not materialised) were not promises, just hopeful predictions !
So on that basis Brexit has been a success. And in return, the UK is the first country to place financial sanctions on itself by turning its back on its closest and biggest business partner, and made freedom of movement more difficult for its own citizens. You couldn't make it up.
Well you seem to be doing a good job at making it up.
The growth figures for 2022 will show the UK outperforming all but one of the EU countries.
Moreover, an EU pig processor just announced they're opening a processing factory in the UK bringing 30,000 job opportunities for the N E of England. 🤣
@@rhythmstic wise words.
Remind me, how far can I walk in a straight line before falling off the edge of the world ?
@@seekingenlightenment9685 yah I'm full of wisdom whereas you seem to be full of something else ..
@@rhythmstic Let's hope there isn't a Zombie apocalypse. Actually you wouldn't need to worry as Zombies eat brains, so you should be completely safe.
Finally!
Since 2017, 5 years later, OxBridge PPE graduates START to realise. SERIOUSLY❓
@Justsomeguy .. I totally agree with you.
Poor Andrew Bailey, who supported Brexit. The government had mechanisms to tackle inflation at source, but decided to throw the hot potato to the Bank of England and let poor old Bailey to sort out with interest rates, and then he has to run the gauntlet at a committee meeting, I bet he's happy.
"No man is an island "The mentality of too many in the UK believes in a superiority that doesn't exist .It never has.
Those who follow propaganda think otherwise .Sadly others will suffer .
I think the same thing , this English ,more so than British mentality we have , we are superior to other countries, they need us, more than we need them , just isn't true, I have news to other English people this isn't the best country in the world, not the worst, but not the best , and slipping further down now , due to brexit.
This thing started a long time ago. Normal humans have limited memories and the attention span of a gnat. Suffice to say that until the 60s the UK was the No. 1 producer of cars in Europe and serious motorcycles. OK, OK, it was the fault of the workers who wanted to have the tea break. Ciao
Why are you accusing a whole nation of having, a superiority complex?
What are you basing this on precisely?
@@glynarchie5765 What is the best country?
What a complete load of bollocks the fact that we shouldn't pay the bills for the EU makes us better off and that's just for starters.
At the end of 2015 the head of risk assessment at Lloyds of London gave a speech in which he was virtually bang on in what the outcome of a vote to leave the EU would mean. His job and his departments is to forecast what the liability risks will be for their underwriters and they have been very successful in what they d for a couple of centuries. But he was one of those pesky experts that shouldn't be listened to according to Gove and others because they undermined their case.
anyone that voted "leave" should be made to watch this with their eyes wired open like in A Clockwork Orange
you know the guy saying that sits on a cushy 500k a year wage.
he's also the same guy thats telling the common people to not ask for pay rises equal to inflation....
...while he's earning 500k a year.. the prime minister doesnt earn that... plenty of footballers dont earn that.
do you still trust the integrity of what he's saying? or does that cast even the lightest of a shadow of a doubt for you?
🇬🇧👍🏻 I'm glad I voted to leave.. ✌🏻🇬🇧
@@o0xTHEcoPlayerx0o do you believe the amount a person earns is related to the truth or their statements?
I would but I`m too busy at work forging massive crankshafts for the USA and Europe. Plenty of work if you want a job.
@@Glasstable2011 i dont think its imperative, but it certainly raises an eyebrow under these settings.
do you think evaluating the integrity of someones character irrelevant on forming an opinion of the value of what they are saying?
Looks like video is in repeat but I am glad it should be said and told repeatedly
It's the politics that's doing the country over not brexit
The guy in the back seat to right is really groping that pen 🖊️
Are u turned on by it? 🧐
This is what happens when you have no real talent apart from plundering and looting.
Amen love from the Caribbean ♥️♥️♥️♥️🙏🙏
Wow a hit at an empire which died almost 100 years ago and nobody alive today can remember, including yourself. That has no relevance today. Change the record!
@cambs 01 lol it doesn’t need to exist as the effects of it are still felt in society till this today.
Example, do you know how long promissory notes (aka fiat money) have been the main source of legal tender?
Well, that terrible decision is what culminated in the collapse of many an economy and a massive reason why we are where we’re at today. An inevitable depression.
But you’ll probably disagree nonetheless as privilege is invisible to those that benefit from it.
@@cambs0181 you need to check when the empire ended, Not that long ago at all.
the government really didnt want brexit so have not implemented it as well as they could ,there has been politicians and civil servants throwing spanners in the works ,whether you wanted it or not if every one pulled in one direction it might sort the debacle out
What could they possibly change to magically make brexit a success?
The facts speak for themselves, total goods exports are down 15% since brexit and they haven't fallen in every other major developed economy.
The OBR has a concise paper on this
With so much money lost thanks to brexit, there is nothing to make anything successful with
Sorry I watched this expecting an explanation of how brexit has destroyed the UK economy and I didn't see one. Maybe you posted the wrong video? What I did hear was how the actual referendum affected the markets, how the indecision inflicted on us by those who wouldn't accept the vote damaged our economy and how that loss of investment has affected growth today. As for the TCA yes tons more paperwork will affect business today. You can thank the EU for that. They do the same to every country in the world. I'm still waiting for that brexit cliff which turned out to be 4ft high, it would seem.
So it wasn't bailing out the banks, the numerous QE programs and then a massive furlough program and ignoring how susceptible we are to the energy markets. It was all down to Brexit.
Yip.
There were 10 years of austerity then after Brexit the 3 square miles of London where most of this country’s profit is generated stopped being as profitable
Loss of £100 billion in exports to the EU and resulting damage to British companies ?
Nobody has said was caused the black hole ?
Haha! Yes exactly!!! Blaming BREXIT is for this who don’t understand basic economics, or how the financial
World works….
Did he happen to mention the cost to the Country [ Taxpayers ] of the Banking Crash ?
Which was not Bailey’s fault in any way.
A land owner knows when to cut lumber when to plant wheat when to raise cattle and when to make milk then when to plant trees again all on one piece of land there are no shortages except that of human brains.
Probably he's thinking BREXIT has made corruption a little harder for himself
The bigger the UK population, the less each of us would have paid to The EU (c.£120 per capita in 2016). I do worry about maths skills in this country.
Unfortunately a combination of epic ignorance and stupidity, a very poorly educated population and blatant exceptionalism mixed with lots of racism caused this shite fest 🙄
@@Buckets1000 they count it as being given as they spunked billions on tory donors for things like track and trace and PPE.
The bigger the population (rising by the MILLION every 5 years or so!), means a massive drop of GDP per person measured over the whole economy. Not to mention the extraordinary coats needed to upgrade and create the public service infrastructure to deal with such population growth... Or indeed, the significant reduction in the quality of those public services in the meantime. Why are these things never included in the cost/'benefit' calculations honestly??
@Jack Smith so what?
@Jack Smith Enjoy your covid lockdowns
Half our country will simply not believe brexit is causing a problem. It's near impossible to get brexit support to understand the damage that's being done.
half the country don't want to be serfs in the EU/WEF totalitarian state. Of course, the UK, under charles and the Great Reset, are doing their best to bring that about in the UK, brexit or not. But at least some people stood up.
@@blitzmom2674 What about the Illuminati ?
@@artiefakt4402 when they give speeches pushing the Great Reset, then talk about them. Otherwise, pay attention to what is going on at G20.
@@blitzmom2674 Everything you say about the UK and EU also applies to Scotland / NI and UK. Brexit will eventually split and destroy the UK, but hey you regained your "sovereignty", whatever that means to you.
@@gsugesuio less government is always better than more. And the EU might have been one thing when it was just about trade, though it wasn't so good for many UK people, but it went on to become a totalitarian state, didn't it?
Productivity has sweet f a to do with BREXIT.
The economy can and will recover. Blame the EU on the additional cost of paperwork.🎉
Brexit was about sovereignty not just about the economy.
Thanks very much for this video. We need more of these videos in the "free world"
The fact you have the audacity to put “” is really ironic considering you are in fact watching a free and open video in a free and open country lol
Hard to sever these ties. I also think things have to change in England to keep the British Isles intact. It's a big change for England, but at some point they should look at that. That means letting go of the monarchy and the north of Ireland as part of England. I'm sure I won't see it in my lifetime, but I hope they stick together as a trade bloc. The monarchy is token anyway
Letting go as north of Ireland as part of England??? Northern Ireland has never been part of England. That's why it's called Northern Ireland. When you say England, do you mean the UK?
I would have said that, but looking at what is going on in Iran, I'm not so sure. It will happen though and faster than you think.
"Destroyed"? Great headline, but it is not exactly "what the senior figures in the Bank of England outline in the Treasury Committee." said, is it? "Decimated"? At no point did they offer any figures even close to 10%. Why not let the evidence speak for itself, instead of engaging in wish-fulfilment exaggerations?
Let's talk? Start by matching the headlines and text to the actual content. If you don't, it discredits your message. Exaggerations are a hostage to fortune exploitable by opponents and don't help persuade those of us more undecided.
But who cares what the most qualified, independent experts have to say? I'm more interested what a government minister, whose career is dependent on Brexit being seen as a success, has to say.
The facts speak for themselves, total goods exports are down 15% since brexit and they haven't fallen in every other major developed economy.
The OBR has a concise paper on this
Nothing but a bunch of lies and excuses to rip the public off.
They do not stand a chance against Farage - he knows what motivates people.
Yes hate for immigrants is was down to and no consideration for the economic consequences of leaving the larges market on the planet 29 miles away
Yes he is a superb snake oil salesman. But you should be very worried about the fact that he is so successful in Britain (or was successful).
Socrates warned us about people like him among ill educated people.
Something to think about here:
th-cam.com/video/fLJBzhcSWTk/w-d-xo.html
I hope you can spot the sweet shop owner.
I think that Brexit was beyond what the average voter could really understand. It’s benefits and disadvantages were not clearly presented to the public who were blindsided by emotion and hot air. How many more years will it take to consistently convince a large portion of the British public what an honest but disastrous mistake it was ? RS.
richard simms: average person! Don't make me laugh! Get back under your stone
Most of Scotland and N Ireland understood the consequences so why didn't the people in england? Conservative voters should be ashamed
Very true, both the Independence and EU referendums were instigated by narrow nationalism with no real thought of what it meant or the consequences.
@@doreenhollywood7459 Not just Tory voters ....What about those Labour voters in the West Mids, Yorkshire (South & West) and the North East, they have to take there fair share of the blame ...
@@doreenhollywood7459 And wales
Nothing to do with the economy being shut down for two years due to the pandemic then? Or our dependency on outside sources for food and fuel being disrupted due to the pandemic and Ukraine war? People voted for brexit to get away from outside controls and unlimited immigration into the UK destroying our culture and countryside.
So the Tories can use brexit as a shield!?
Well Done David Cameron. Blaise.
The single greatest act of economics self harm in modern history - I would add cultural harm to that too. As Trump wains and America gets over their 2016 we are just starting to see the decimation. We have thrown away the very best version of membership through arrogance and disinformation.
England needs to be less reliant on what the media says. It is all propaganda and controlled by tory donors. People in Scotland know the bbc never says anything good about us. They have led you all astray and you have believed their lies
Remainers, rejoiners, pro-EU conspirators in the BoE, the Civil Service, education and law, will not give up in their attempts to discredit and overturn Brexit, the greatest and wisest decision ever made by the British people in their entire history, Problems were caused by the bullying and dirty tricks of the EU and the incompetence of our negotiators and political conspirators who were only too willing to capitulate to the demands of the EU.
The citizens of the UK always had the freedom to vote for their own govenment, look where it has taken them.
Do these people really know what freedom means? There should be more emphasis on teaching people how
to recognise charlatans. Once a tory, always a tory and even when he steals the shirt off my back.
Most people ain't Tory or Liebour or Green.. they are common sense voters with no one to vote for except REFORM.
Are you suggesting the freedom to vote should be taken from us?
The citizens of the UK belong to Scotland, NI, Wales and bigger England. It's England who delivers our governments. Add the population of the three smaller nations and they still can't outmatch the 17.4 million who voted to leave the EU. May was internally pushed into place, Boris, likewise, harped on about getting a deal done and England voted for him after his promises about getting his deal delivered, bridges, tunnels sea borders and hoakum poakum about NI even an underwater roundabout at the Isle of Man leading to Liverpool. Truss was flung in and straight back out, this latest PM likewise from an internal choosing. No public voting. How can Truss be so bad and then replaced by second best? He is obviously worse in their opinion and Scotland, NI and Wales has nothing to do with any of it and now bigger England doesn't get a say as the four nations crumble within a devolved union who arrogantly England call an independent sovereign when the sovereign was never lost and the union is being lost to a wreckless party of charlatans. Three nations can walk away and accept the Euro, England is stuck with the pound sterling and the disaster Brexit is, the voters have no way out of it.
@@thesheperd7567 Scottish Labour also used to deliver our government before the tartan political nonentities came to power and f#c#ed up Scotland and weakened the British Labour Party. More Scots voted for Brexit than vote SNP.
Don't listen to the people who know what has happened, listen to frog face farage and the Mail well done brexteers. You got what you wanted so now don't complain when you don't have a pot to p in
'Frog faced Farage' ...Don't be so disparaging to the future PM of the UK.....
Up sticks and leave...🇬🇧✌🏻 you'll feel much better over abroad...👍🏻🇬🇧 👋🏻 see you..
@@michaelball1307 that's not how it works. You don't leave just because you dislike the political situation - this is a democracy. I could have equally applied the same logic to you when we were in the EU in the opposite direction!
@@markwinter54 You are obviously very mentally ill. Or a Daily Mail reader. Actually they are the same thing
@@martinreed1401 I take it you've never heard of sarcasm.!!!!....As for the Daily Mail, I'd buy it to line our cats litter tray that's about it ...
In my view the main problem is how money is created as debt and the need for constant growth to mitigate the interest on new money. The other issue that no one talks about anymore is that literally trillions are being funnelled through the city of London and into offshore accounts tax free, all of this is money that's been created through debt and has interest chargeable somewhere to someone. This money is being taken out of the economy and is therefore a burden on nations where it was created which compounds the problem with FIAT monetary systems. Brexit was all about the UK wanting to avoid scrutiny of its offshore tax havens, Dave has several millions squirreled away there himself. It would bring down the city when it transpires the UK is holding money belonging to drug barons, terrorists and international crime syndicates.
The irony is that politicians will talk about paying off debt, when debt gets paid off, the money no longer exists, so paying down debt takes money out of the economy and so there's a contraction in the money supply.
The UK has arguably been in a deep depression since 2008 and it has only been due to corporate buy backs the real estate bubble and the new money that it creates that we've had any kind of growth.
Money creation can not only happen by making new things. It works perfectly well with making existing things better too. If you take out a loan to insulate your house, the value reflected in the money created on the loan is your improved house and your lower energy bills.
all these guys are crooks
Anyone remember the Rowan Atkinson sketch from the 1980s where he played the Devil welcoming the recently damned to Hell? Well Rowan would do well to freshen it up a bit. Let's add the European Research Group and, oh go on then, anyone who voted for Brexit! Not forgetting the famous line: "I bet you're feeling a right bunch of nitwits now!"
A one sided discussion held "before the brexiteers join the committee." Shame they didn't do it when they were in the room so that we could hear their comments.
You mean their denial, that everything is ok , that we can go and do business with Indian and the rest of the world ? Those pathetic arguments, that they have been having for 5 years, while we are get poorer .
@@victoredwards3959 well, we'll never know as they chose to have this discussion without opposing views being heard. The bank of England have been criticised recently for not acting sooner to control inflation. This video looks set up and edited just to get these opinions voiced and broadcast. Pro EU chief cashier, pro EU independent adviser and Labour party chair, where's the balance here.
What's interesting about adding people sticking their fingers into their ears and singing LALALALALALA to a discussion?
@@mikeg2939 , this is the problem with people who are anti EU, as soon as you hear the argument about the economic consequences of Brexit, the only response you have is to blame others , just as you people previously mentioned during the original discussion, that what the expect were telling us before the vote was project fear . Now that those realities are here for us to all see , a lot of this so called Brexit supporters don’t have an answer. Even the Brexit guy who negotiate Australia deal has come out to say how terrible it is . No Brexit MP or Brexit experts has been able to give us one benefit of Brexit. So what other side of the arguments do you people really have. Apart from blaming others for the consequences of Brexit? Even you are pointing fingers to the Bank of England.
@@victoredwards3959 that can be flipped over to read pro EU blame everything that happens on Brexit. Much of project fear was just that and never came to fruition.
As a Brit living in Canada I have been appalled by this act of lasting self harm. The country is stuffed thanks to Farage and Co. and their misinformation. BTW Canadian inflation is 6.9%.
7% inflation?! Oh wow. Canada playing a blinder with completely normal inflation then... When 9% is up against 7% it's honestly nothing to crow about lad.
@@tooshlong 😂 the U.K. inflation rate is 11.1%
Yeh wanker treadu is in office enjoy your cucking liberal.
she talks about depreciation.... so she is saying a marked change in EURGBP with an increase in that radio (outlined by charts) .... ok, open EURGBP , flick to monthly timeframe... you will see that drawing lines around average extents of the chart between say... 2009 and now... minus the huge drop which left the pound to euro unnaturally high... the EURGBP is actually well within its usual trading zone on average.... and that the place the pound dropped from pre brexit was actually the exception. Sure..... there was a large reaction... but this hasn't taken the exchange rate anywhere out of the ordinary...
Lets put it another way... the EURGBP pair between 2006 and 2008 was 3000 pips change in value ; after brexit to now it is 1683 pips
What if the eastern idea ate the sensitive?
Has anyone mentioned that Andrew Bailey was not neutral on BREXIT, he was a BREXITEER! It's time people started highlighting the failures of BREXIT: isn't it Mr Starmer.
I love how polite everyone is about such an unmitigated disaster.
Most of Europe and US are either in Recession or will be, so the effect of Brexit is over estimated here.
Bank of England has opened up the treasury for Ukraine and can the Governor say something about it??
Open… actually they’re pretty modest contributions. The latest is only £50m. And we’re paying into a war we allowed to start and one we can’t afford to lose. Values have value when they’re fought for. Democracy and capitalism underpin our economy. Russia actively seeks to undermine all of that and allowing it to do so would weaken all aspects of our economy, further fuel blackmail and pressure on food supply as well as clearly messaging to China that they too can bully us.
Bank of England belongs to globalist not English.
If they didn't you will be speaking Russian this time next year.
@@donaldstewart9827 Lol:)
Thanks for nothing FARAGE !!! we will not forget
Spains minimum wage is much lower than UK, have a think.
Surprise, surprise! Leaving the trade block with your major business partners has a negative impact!
And there was me thinking the state of the economy all started with the banks being greedy, but no it was Brexit.
The banking crisis could and should have been got over much more quickly as it was in other countries. The situation was exacerbated by austerity and then made much worse by Brexit. With regard to Brexit, as someone said, "we shot ourselves in the foot and then amputated the wrong leg"
Two bad things can happen at about the same time.
Just got back from Holland and the airport is a nightmare lines go on and on and on,before Brexit u walk though,and this is also in Spain France and Germany and Ireland. And this is after Brexit.
That was to be expected, I guess. The UK is so slow to react to anything, they make the EU look swift. Meanwhile, they've done nothing significant with bilateral trade. It was probably unwise as a lark.
That has nothing to do with brexit.
I think you mean, after Covid.
@@jailbreak852 wasnt the EU warned in 2014 after the annexation of crimea to get off of russian gas?
and again in 2016... in hubris they laughed and mocked the people who gave the warnings....
now 8 years after the first warning.. very swift my friend, they are very swift.
The UK housing market is no longer under stress, due to lack of housing for cheap foreigh labour. Advertise a flat in Rep of Ireland and 100 people turn up to view it, few of them are Irish. Only the strongest businesses will survice, which forms an excellent foundation for the future. You can't keep relying on cheap foreign labour. The points system for imigration prevents the far eastern pouplous coming to Britain and whilst most want to work and send their money home, there was an increase in crime from Eastern European gangsters, that's all but stopped now. There are some advantages, just for a blanaced argument. I believe in Labours 2nd term, circa 2030 they'll be an option to re-join, but not before.
If we hadn't had Brexit we'd probably still be waiting for vaccines.
I think it odd its all about numbers and not the people they have destroyed!
I studied economics and one of the first things I learnt was a quote " If we do this it could result in massive growth or it could result in massive decline" , nothing exists in a vacuum . There are multiple causes to every economic event . Right now we have a bunch of Tory remainers in charge so the narrative has changed to " Brexit bad " , one could consider the effects of an international global downturn , America was not affected by Brexit but has still experienced a downturn , maybe we could have a look at what the two nations have in common instead of what they have different .
1) A government reluctant to enforce it borders , while still having a social welfare net for all people within it borders . Costing massive amounts of money to house , feed and pay foreigners to live within our borders while not working or paying taxes
2) World events with gas and oil prices , our economy is based on gas and oil , just think Petro-dollar and the proxy war with Russia over Ukraine
3) Both nations have crippled their own economy by shipping all of its production overseas to places where the labour is cheaper or even slave labour
4) Both nations subscribe to prohibitive green policies on energy production , allowing no new energy resource collection within their own country instead paying for it from foreign powers , who by the way don't care about green agendas and will happily get the resources out through the financially cheapest method available polluting the same world , green agendas are trying to save, even more . Basically energy is the new financial stability and we are shipping ours to foreign powers who don't like us .
5) We locked down our country and paid people to stay at home and produce nothing , causing massive inflation the likes that our children and grandchildren will still feel the effects of
6) We weakened our international power with bad policy thinking that if we are the "good guy" people will like us and we will feel better about ourselves . Our competitors have no such morals and are quite happy to see us shoot ourselves in the foot . Our ancestors understood something we have forgotten , their are no friends in international relations only convenient alliances of the moment , as has been proven by the EU now we are no longer "friends"
7) We fund a war that may prove to be too expensive for us to "win" that way , Ukraine has received loans from both countries so far in excess of its yearly GDP that it will never even be able to make the interest repayments .
8) We send financial assistance to nations that hate us , and we do so badly so that the corruption in those countries makes sure the peoples opinion of us never changes . So we impoverish our own people to send money to our enemies calling it reparations
And so many more causes to effect "its the economy , stupid"
Now ask yourself the question , what would still being part of the EU have changed about any of these ? If anything it would have made some of them even more of a problem .
"Tory remainers in charge"? Does your head butto up the back, pal?
thank you Sir.
I do not know where you got your ideas of ecomomics, but getting rid of a great amount of your work force
and at the same time making it harder to sell the goods you produce, is not a good move. Brexit has damaged
the UK economy to an extent which is unparalleled. That is not economics, just plain common sense.
Oh dear. Are you sure that economics course wasn't in the daily express?
In my view the main problem is how money is created as debt and the need for constant growth to mitigate the interest on new money. This system is what is causing some of the issues above (although some of them made I larf, particularly the one about international aid). The other issue is that literally trillions are being funnelled through the city of London and into offshore accounts tax free, all of this is money that's been created through debt and has interest chargeable somewhere to someone. This money is being taken out of the economy and is therefore a burden on nations where it was created which compounds the problem with FIAT monetary systems.
The irony is that politicians will talk about paying off debt, when debt gets paid off, the money no longer exists, so paying down debt takes money out of the economy and so there's a contraction in the money supply.
The UK has arguably been in a deep depression since 2008 and it has only been due to corporate buy backs the real estate bubble and the new money that it creates that we've had any kind of growth.
You very clearly did NOT study economics
Especially when you somehow think you know better than the experts doing the economist jobs in the video...
What l as a Brexiteer don't understand is that we were in the Common Market which had or was evolving towards a customs union and single market without problems. We were told it was only meant to be a trading bloc. But the federalists couldn't leave well alone. When l voted leave in my mind l wasn't opposing cooperation with Europe but ratification of Maastricht which meant "ever closer union" and transfer of government to Brussels. That was a step too far. The six countries who rejected Maastricht ratification in referendums initially were told to vote again but this time get it right (Lisbon). We had a good arrangement in the Common Market but they couldn't let sleeping dogs lie. Maastricht was used to bludgeon voters into supporting a United States of Europe. That's the end game. Now England is being punished for its desire to remain an independent sovereign nation.
Punished? How? We're on WTO rules, we're in full control and any failure is purely our own.
The facts speak for themselves, total goods exports are down 15% since brexit and they haven't fallen in every other major developed economy.
The OBR has a concise paper on this
Who is punishing England? You got exactly what you wanted. This is no punishment but is what being outside of the EU is for all countries outside the EU who do not have proper mutual agreements with the EU.
@@teniente_snafu The problem was we had a kind of single market etc. in the old Common Market as l said. It was the failure to acquiesce to the ratification of Maastricht in fact "ever closer union" which meant we would be outside of it. We Brexiteers do not see the need to form a political union with those we trade with. The EU is saying, "to trade with Europe on
the same terms you must agree to the ratification of the Maastricht Treaty". I don't see why l should have to sign up to a political movement in order to trade. No other country demands this. Is that wrong?
Self harm? In Scotland there was no self harm. We got thrown to the lions.We are now an island with no real advantages, trying to trade with a big landmass that is geographically, politically and economically connected. If this was a friendly game of risk, id be ordering my taxi home..
There should have been a vote on stay in the single market