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A lower pound. Its value fell by 13 per cent when the Brexit result became clear (1).
More expensive imported goods in the shops = higher inflation and a fall in your real income.
More expensive holidays abroad.
Your employer could have greater difficulties selling its products into Europe as we will no longer be part of the single market. Importing supplies will be harder and more expensive.
Customs duties may be added to your employers’ products, making them more expensive and less competitive abroad where we will no longer have any trade agreements.
Financial companies will find it harder to do business in Europe. Some are already relocating activities from here to the EU.
Share prices of British companies have therefore fallen significantly, around 30% in the case of leading banks = 40% in US dollar terms in the first few days.
This means a major fall in the value of pension funds.
This means that the large deficits of many large pension funds are even bigger than before.
Large pension fund deficits = pensions under threat .
The Bank of England is expected to lower interest rates from 0.5 per cent to zero.
This means lower annuity rates.
This means even lower pensions.
Employers having difficulties could mean job losses.
Less foreign investment in UK industry and finance = fewer new jobs.
Less economic activity = less tax revenue.
The Bank of England will use £250 billion of your taxpayers money to support the UK economy (2). That is more than our net contribution to the EU for decades.
The government will get much less money from selling its bank shares or abandon the sale.
Cornwall and Wales want you to pay them the funds they will no longer get from the EU (3).
Less government revenue means a bigger government deficit and more taxes later.
Government financial difficulties also brings job losses in the government sector.
Loss of your automatic right to visit, work and live in 27 other European countries.
Huge blow to UK universities’ international research cooperation in Europe.
End of studies in European universities under the EU Erasmus student exchange programme.
Many upset people = more hate. Everywhere, including Europe.
Some lies by the Leave Campaign
Brexiteer Iain Ducan Smith claims “he never said” £350 million a week will be given to the NHS (3). Farage has admitted that it won’t (4). It was on the Leave Campaign’s bus!
British taxes were already set by the independent British parliament and now may rise.
There was never a threat of a flood of Turkish, Syrian or terrorist immigrants.
MAP Daniel Hannan: “We never said there would be a radical decline in EU immigration.”
Boris Johnson: Sterling and the stock markets are “calm” and the economy is “strong”.
Notes:
(1) From £1 = $1.50 to $1.31 from late on 23rd to 26th June. A fall of 13%.
(2) See http://www.birminghammail.co.uk/news/midlands-news/eu-referendum-bank-england-makes-11519317
(3) http://www.independent.co.uk/news/uk/home-news/brexit-cornwall-issues-plea-for-funding-protection-after-county-overwhelmingly-votes-in-favour-of-a7101311.html
(4) http://news.sky.com/story/1717826/backtrack-on-give-nhs-350m-eu-money-promise
(5) http://www.independent.co.uk/news/uk/politics/eu-referendum-result-nigel-farage-nhs-pledge-disowns-350-million-pounds-a7099906.html