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UK credit rating downgraded to negative

(2 Posts)
MuggleWuggle Sat 25-Jun-16 06:30:13

This from BBC news:

'Moody's said the referendum result would have "negative implications for the country's medium-term growth outlook", and it lowered the UK's long term issuer and debt ratings to "negative" from "stable".

It added: "In Moody's view, the negative effect from lower economic growth will outweigh the fiscal savings from the UK no longer having to contribute to the EU budget."
It also said the UK had one of the largest budget deficits among advanced economies.'

If only someone in the in the financial world had had the knowledge and foresight to predict that what we gain back from not having to pay into the EU would come nowhere near to covering our losses.
Oh yes, that's right- anyone who's anyone in the financial world warned of this, I would imagine there are at least some people out there who feel manipulated by the Brexit campaigns complete misrepresentation of the facts. Did you see this video of Farage admitting this 'mistake':

allegretto Sat 25-Jun-16 06:40:42

So, just a day after the referendum we have found out that:
- Britain will be worse off
- there is no EU money to save and invest in the NHS
- if we want to accept trade with the EU then we will probably have to accept free movement of migrants like before (without having a say in the matter or any EU money)
- Scotland may very likely leave
- Northern Ireland's peace process is threatened

Brilliant result!

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