Page 2 | Is anything going to get cheaper after, assuming it happens, Brexit?

(165 Posts)
frozendaisy Fri 19-Jul-19 17:00:07

Parking the utter disaster that is Westminster at the moment:

With unpredictable weather patterns and a weakening pound one can only assume that almost everything is going to get more expensive. Is anything going to get cheaper do you think? We are not on the breadline but at some point, if predictions and the effects of a weakened pound it's going to start hitting everyone where it hurts in the wallet surely?

OP’s posts: |
YeOldeTrout Fri 19-Jul-19 20:42:22

supposedly food, if we go to no tariffs.
Of course our food may be flooded with cheaper quality imports.
<shrug>

Bluntness100 Fri 19-Jul-19 20:45:41

Eh? Fro. Europe we already have no tariffs. That's the whole point of being part of thr eu.

YeOldeTrout Fri 19-Jul-19 20:48:53

Tariffs for food from USA, Brazil or china or other non-EU places.

YeOldeTrout Fri 19-Jul-19 20:51:21

Claims what will be cheaper.

Tabloid version.

cherin Fri 19-Jul-19 20:52:18

Prediction for London housing market is a 30% fall, which is good if you’ve got $$$ stashed somewhere and want to buy, but terrible if you’re still paying a mortgage or need to renegotiate it (you know? When suddenly the loan to value ratio is not anymore 50% but bumps up to 70%? It might happen!). And if things go really sour people will leave the country, so not much need to buy or rent. People might do like in the states during the 2008 recession, drop the keys of the flat to the building society in a nice white envelope on the way out of the state....

1tisILeClerc Fri 19-Jul-19 20:52:45

Well the zero tariffs the UK pays for Beef for example will go to 40% until a new 'deal' is struck. If this is to be with the EU, then back around the loop, the (or A) WA will have to be signed BEFORE the EU will open negotiations. As the EU are involved in such trade and existing quotas, even if the UK were to not trade beef with the EU at all, the EU have to be involved in the negotiations just to 'uncouple' the UK from the EU.
The 'short and curlies' are firmly in the EU's hands.

Jaxhog Fri 19-Jul-19 20:56:45

Sterling, shares and house prices. House prices going down only helps new buyers with cash, as credit will get more expensive. Shares going down will only help city traders, who'll then take even more profit out of the system. Sterling going down will only help people wanting to move here i.e. more immigrants.

RJnomore1 Fri 19-Jul-19 20:59:00

Chlorinated chicken??

cherin Fri 19-Jul-19 21:05:49

@Jaxhog I think that’s the opposite (speaking from personal experience at least). You immigrate where salaries are higher and the currency strong, so you can send remittance back home and it means something. Not many will immigrate to a country in turmoil with issues of food supply, redundancies, and money that’s not worth sending back home

cherin Fri 19-Jul-19 21:07:40

For city traders the profit will only materialise once the shares go up again, assuming that in the meantime they haven’t all lost their jobs, and that all our pension funds are still worth the paper on which they print the statements...

cherin Fri 19-Jul-19 21:12:10

One of my bosses had to posticipate his retirement back in 2008 because on his 65th birthday his pension fund was worth around 25% less than the year before...and it doesn’t matter if you want to buy an annuity or take cash out, 25% is quite a big loss....

JesusInTheCabbageVan Fri 19-Jul-19 21:15:12

Turnips.
Acorns.
Wasps.

Cocoabutterformula Fri 19-Jul-19 21:16:28

I'm struggling to think of a single thing. I so want to know if No Dealers are really not in the least bit worried.

cherin Fri 19-Jul-19 21:17:28

One of my kids had a child trust fund, the type that the government was setting up automatically years ago, it was invested in a obscure fund I had no control over, and I moved to a child isa account back in March when I realised it was losing value by the day on the approach to march29. Its pennies for most other people, but for me it’s pennies I carefully saved so that at 18 he can pay uni fees, at least to start with. Seeing it going down after having saved for 15 years, for no mistake of my own, just because market forces are in action, wasn’t funny...

FantailsFly Fri 19-Jul-19 22:44:00

Falling share prices (and weak sterling) means that UK companies are cheap for overseas buyers. A fire sale.

Jaxhog Sat 20-Jul-19 11:31:41

For city traders the profit will only materialise once the shares go up again, assuming that in the meantime they haven’t all lost their jobs, and that all our pension funds are still worth the paper on which they print the statements...

No. City traders don't trade on long term gains, they trade on volatility. Since shares are falling but not in a steady decline, there will be enough room for profit taking. Remember, with the high volumes they trade, it only has to be pence difference to make it worth their while. And they move very fast. This means a steady leaking of money from the rest of us via pension funds, who DO hold for long term gains/losses.

ListeningQuietly Sat 20-Jul-19 11:36:31

People might do like in the states during the 2008 recession, drop the keys of the flat to the building society in a nice white envelope on the way out of the state....
Non recourse house loans do not exist in the UK.

If you hand the keys back and they sell the house at auction for less than your mortgage, they chase you for the difference for the rest of your life.

Jaxhog Sat 20-Jul-19 11:36:51

@cherin Don't underestimate the attractiveness of the UK to immigrants even in the current climate. We will still be a stepping stone to the US, and, while our economy may be toast, we still have an attractive welfare system.

ListeningQuietly Sat 20-Jul-19 11:37:59

We will still be a stepping stone to the US
Could you explain that one ?

cherin Sat 20-Jul-19 11:49:23

Mah, I hope so...but I’m an immigrant and an employer and have already seen people pulling out of job interviews because they are thinking twice about hostile environment, we’ve lost people to scandi counties, and people with young families don’t come back from maternity leave, they just stay in Europe or more there. Compare nursery fees of London or Stuttgart and it’s an easy math. That’s an attractive welfare system, if you ask me....
For clarity: it’s not like I don’t want to employ British. It’s very simply that there are not enough graduates in my field that come out of British universities. When we find them, we hire them. Gosh I went to promote my field to primary school teachers in the hope that someone will help me sharing the news that there’s beautiful job opportunities in stem. Primary schools. Call it a long shot.

NoBaggyPants Sat 20-Jul-19 11:55:09

Jaxhog There's nothing attractive about our welfare system to immigrants. Despite what the gutter press tells you, immigrants are not able to claim benefits for a long time. Has the Windrush scandal completely passed you by?

NoBaggyPants Sat 20-Jul-19 11:56:45

As to what will be cheaper, the NHS? Sold off by the government to the pond life like Branson.

cherin Sat 20-Jul-19 12:03:00

I think in relative terms we’re still a 100mile above the states, so if your comparison between welfare systems covers USA and U.K., agreed, it’s not the land of wolves here. I agree we have a well developed health system, we have functioning sanitation, we have rules, we have local governmen services; which is amazing compared to most of the rest of the world. But large chunks of Europe have much more attractive systems for families, the war for school places, the lottery for good hospitals, the 1.400£ a month for nursery are a peculiarity of England (I should probably say even south of England?), and we can’t compete with them unless we decide we do a serious reform. Which isn’t going to happen.
Hence. It depends what the immigrant wants. Young professional looking to settle, form a family, stay....I don’t see them viewing U.K. favourably now

Clavinova Sat 20-Jul-19 12:39:00

Next have said the reduction in tariffs (clothes) would save them about £15m a year.

I heard someone on the radio a few months ago explain that private pension funds have generally done very well since 2016 due to the fall in the pound - fund managers tend to invest in multinational companies in the FTSE 100 - many of which are 'foreign' companies with revenues in US dollars/other currencies - or something to that effect.

The 2008 financial crash was a global crash.

Jason118 Sat 20-Jul-19 13:15:37

Next have said the reduction in tariffs (clothes) would save them about £15m a year.
@Clavinova so how will that help the consumer?

Join the discussion

To comment on this thread you need to create a Mumsnet account.

Join Mumsnet

Already have a Mumsnet account? Log in