UK Treasury chief tries to calm fears over 'Brexit' fallout
LONDON — Britain’s Treasury chief sought Monday to ease concerns about the vote to leave the European Union, saying the economy is as strong as it could be to face the uncertainty — even as a survey showed many companies are looking to move business out of the country.
The pound hit a new 31-year record low, dropping another 3.3 percent to $1.3227. Stock markets also declined across Europe.
Osborne pledged not to impose a new austerity budget — even though he said during the campaign that one would be necessary if voters chose to leave the EU. He said another budget would be the task of Cameron’s successor.
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What else will change once England leaves?
England will now have tariffs on it's goods.
Raw material will cost more. Of course these things will cost jobs.
People will need passports to visit other countries in Europe.
They will no longer be able to live anywhere they want in Europe.
Their movement and where they live will be restricted. England will no longer get EU dollars for science and research. It's scientists will no longer be able to move about Europe without permission.
And Scotland and Wales are talking about dissolving an agreement they've had for 300 years. That could mean that the English will need a passport to visit those countries.
Remember what Conservatives did to this country under Bush?
Brexit Revealed the Always on the Make, Money-Grubbing Grifter That is Donald Trump
I am not certain what Bush had to do with Brexit--LOL
The biggest problem the UK has, is that since 1976 they have been totally dependent on the 27 member countries aka the EU. The UK is a consumer country and I can't think of a thing that it manufactures, drills for, or grows. No agriculture or farming, no energy that isn't shared with other member countries, so I doubt they'll be any tariffs placed.
Even France, has control over their electricity, so they can turn on and off their lights whenever they want too.
They are in no way like the United States, where we can give the world the middle finger, and we would still eat and have energy to heat our homes. But that's why the EU was formed in the first place. To be be able to compete with the U.S.
When our dollar goes down, our exports take off to pull in the slack. The pound is getting pounded meaning that UK citizens will be paying a lot more for every day necessities. This means inflation. This definitely isn't going to go over easy, it's just the start.
As far as business's leaving the U.K. If it gets bad for them, they are going to move where business is better. When they move they normally don't take their employees with them.
It's not rocket science.
The UK has shared health care and education costs with 27 other countries. Now UK citizens living in one of the member countries will be chased back home to forge for themselves. They've opened quite a can of worms. This means austerity eventually, to lower government spending, even though their requirements for spending on health care and education, and now border control will be more.
I think this was a knee jerk protest vote, that the citizens of the UK did. They didn't pay attention to the consequences of such action, and I believe they'll soon be regretting that vote. While I understand that every nation should be self reliant, and deserve their sovereignty, they certainly didn't plan in advance for this.
I expect a pretty good train wreck out of this one.
