Robin B;325837 wrote:You have to change your life;325803 wrote:https://www.bbc.co.uk/news/articles/cr5m7mp96l8o
UK must rebuild post-Brexit relations with EU, says Bank boss
Mr Bailey said the changed relationship with the EU has "weighed" on the economy.
That's diplomatic code for "made you poorer."
Can't "weigh" it up.
Who knew that turning your back on your biggest market would do that?
What Bailey has claimed is completely unproveable. For him to suggest otherwise makes him either an idiot or a liar. It is as simple as that.
Let's use our brains instead of copying what others say...
How could the economic effects of leaving the EU be isolated from all the other factors at work? Like, the covid response..? Like having mountains of legislation and a bloated, interfering state that kills productivity..? Like having the highest tax burden since the war..? Like having the highest energy prices in the developed world thanks to the green energy lunacy..? And for that matter, having a dreadful central bank headed up by that fat plonker..? To name a few.
Pray tell, what precisely has the effect of leaving the EU been in amongst all that? Is there a number of some sort?
Why have numerous EU economies been performing even worse than the UK?
Our balance of trade with the EU has improved since we left. So how can we be worse off out of it, bearing in mind we don't pay the fees either?
Going back in would kill our tech sector, which is one of the things we still have global relevance in and that makes us money.
Let's use our freedom to conclude a great trade deal with the US, which is our biggest trade partner. In the EU, this would take the French bureaucrats about 30 years to figure out.
Bailey has been useless and is just saying what his bosses want him to. His bosses want us back in. They want us back in because, as with everything else, they are wrong. I haven't seen a single shred of evidence yet that this government actually wants to make life better and more prosperous for the average British citizen. Their desire to rejoin is actually confirmation of one thing: it is a terrible idea.
I am seeing a lot of anger here RobinB! And a wide ranging series of points which might be unfairly directed at the Governor of the BoE (who I understood was a brexit suipporter) and the EU. So for balance ....
1. Mr Bailey is using government figures which says the GDP is 4% lower due to Brexit. They use a counterfactual model to model the difference, and that takes into account covid response. It's consistent with other figures and empirical reporting.
That 4% is equivalent to a tax income of about £80bn, plenty to fill the 22bn black hole / build hospitals / HS2 / not need to raise NI. We could even afford a Liz Truss budget with that sort of income.
2. Mountains of legistation. They've had 4 years since Brexit to get rid of any they don't like, and seemed unable to do so.
3. Having the highest tax burden. How is that affected by the EU? We have been out for 4 years
4. Energy. Our energy price is determined by the price of gas.
5. I would agree, other economies do seem to be doing worst. Think how much better we would be if we were in the EU.
5. Balance of trade. 80-85% of our economy is services and not trade
6. No one but you is talking about re-joining. Something like "closer ties" were the words used. And if ther eis a business case for it, why not?
7. What evidence do you have about re-joining would kill our tech sector?
8. I understood Mr Bailey was selected out of a smaller pool of candidates because the BOE governor needed to be a brexiteer. So you might have yourself to blame there if you feel he isn't the best candidate, keen to please his bosses [I thought he was the boss], or the other insults you have for him, RobinB (sorry if that makes you angry as well)