to ask for some actual facts about how shit things are going to be?

[milkyface]

Can someone please tell me exactly what's going to happen in the next year, 10 years, 20 years?

I mean please someone tell me EXACTLY how shit things are going to be.

I must be missing something because everyone seems to know exactly what position we're all going to be in in 1, 5, 10, 20 year plus, and I don't.

How can we be certain on what will happen when we haven't even left yet?

I think we will end up in recession very shortly as a pp said they are generally created through fear. This will impact on all aspects of our finances, mortgage, savings, cost of living etc. This will happen in the next few months I expect.

A review of the entire legal system needs to happen and quickly as we need to untangle this from EU law. This is likely to be given to parliament to review so will be questionable as to the impartiality.

Scotland is highly likely to have a referendum for independence in the next 2 years and I would imagine they will certainly leave. Sinn Fein has called for a referendum for a united Ireland as they voted remain- so the peace process is going to be very precarious over the next few months.

EU funding which is prevalent in but not limited to Cornwall and Wales will be pulled and who knows if government are able to even give a fraction of what they were getting - this will inevitably lead to job losses etc.

Due to the fact we will be leaving the single market businesses will consider moving their HQs to other areas leading to job losses or either we will remain in the single market through negotiations which mean that we pay on a similar amount as we do now and free movement will also happen...

These are just a few things that are going to happen....

Moody's downgraded the UK's credit rating last night. That means it will be more expensive for us to borrow money. Expect that to mean mortgage rates going up.

The pound is weak. Buying your Euros for your summer holiday will cost more. Don't be surprised if travel companies impose price hikes.

Many people - my family included - are facing job losses. We were due to confirm building works. Probably won't now. So that's a small building firm out of pocket. Expect lots of small firms to go under.

Enough for starters?

That petition is very much locking the door after the horse has bolted... even if passed at some point in the future (which it won't as the wording requires a very high turn out, which would require the passing of another law: mandatory voting, with fines and prison for non voting), it won't change what has already happened.

Stop fighting it, it has happened. Crying in your beer will not fix it. FInd your Bristish stuff upper lip and Carry On Regardless!

Well successive governments slashed science and research budgets so EU money funded a lot of that work. Also UK infrastructure tended to get EU grant money - new roads, that kind of thing . I also think we're going to end up in recession/housing crash. If the corporate banking lot are looking to pull out (2000 jobs already being relocated), then that sends waves throughout industry as a vote of no confidence. If the London housing market then crashes even though the boom didn't get into my home area, the job cuts probably will meaning no money to pay mortgages.

How much does it matter where the economy is in 10 or 20 years, if in the next two the uncertainty leads to my husband losing his job and us losing our house and burning through all our savings?

The fortunes of the next two years will have a massive cumulative effect on the rest of people's lives. People forget that compound interest is what pensions are based on. The same in reverse, if you are unable to make mortgage repayments (but do still manage to save your house in the meantime). Then there is the effects of banking charging leading to a spiral of debt and damaging your credit score for years and years.

No I can't predict the next ten or 20 years. I can have a good guess at the next 2 though. The legacy of that, means that any long term gains in the future have to be very significant to outweigh short term problems.

Can't see how signing a petition will actually help - what we need to do is pull together to work through the period of uncertainty, which as others have pointed out above has a real chance of leading to a recession.

The ramifications of the referendum won't be fully understood for a number of months / years whilst we work to unpick the current arrangement. More importantly we also need to stabilise our existing political landscape in the uk.

Some goods may get more expensive but others may get cheaper as we will be able to control our own trade.

It's not in the EUs interest to impose significant trade tariffs upon us as it will equally have negative implications for them - to use the example quoted regularly BMW cars.

Well done for starting this thread as frankly I'm shocked at how much people are panicking - it is very uncomfortable not having all the answers at present - but rumours / unfounded facts being hastily posted on FB are not helping anyone!

Also struggling to understand people's comments about mortgage rates rising when Carney has already said rates are likely to be cut again - we're looking at a nil interest rate as the BoE try to stimulate growth and control inflation.....

Also struggling to understand people's comments about mortgage rates rising when Carney has already said rates are likely to be cut again - we're looking at a nil interest rate as the BoE try to stimulate growth and control inflation.....

I voted out and it's the best possible thing I could have done for the sake of my children .
First few weeks / months it's adjustment time and Cameron needs to go ASAP so that stability in our government is there .
In a long term it's the best ever thing uk and ppl of uk did .
Great Britain is great and doesn't need all the dictatorship of eu , wrong imigration, wrong type of refugees and government of uk should be able to bring their own decision about laws, trade and everything else .

I never claimed to know your financial status. It's obvious some people have dug their own grace though due to brainwashing.

Okay, so I assume you care about drug research and finding new cures for life threatening and debilitating diseases? Well the EU funds many of these types of projects with millions of pounds of grants. How will the British government fund our scientists who work hard to make a difference in the world? Where will they get the money from? Our university cities are hubs for intelligence where there is research being carried out by EUROPEAN scientists. People who travel from mainland Europe to study/carry out research and share ideas. This is all due to EU funding.

Any further thoughts op?

Can I ask, did you also ask this question before you voted? If not, do you now think that it would have been preferable to do so?

In a long term it's the best ever thing uk and ppl of uk did

Are you visiting from the future?

OP, I think you know nobody can tell you for sure. What can be said are the following:

1. Moody's credit agency have announced that they have changes UK financial outlook from "stable" to "negative". S&P have already said we are going to lose our triple A credit rating. It would be unprecedented if this had no impact on how much it costs the UK government to borrow money and given the level of our state borrowing that would be very bad for us all.
   Given that the government rate is often the benchmark for private and business borrowing that impact would be felt throughout the economy. Can anyone tell you 100% what will happen? Of course not, but they can show what happened to other countries in similar situations.

2. Add to that the turmoil in the markets and the plummeting of the pound (even allowing for a degree of rallying towards yesterday) and I think we're in for a rocky ride economically. Can I be sure? No. However, if turmoil in the markets turned out to be good for the economy it would be pretty unprecedented.

3. It was reported last night that the Bank of England is going to spend more money in the next few weeks shoring up the markets, increasing liquidity and so on than we give the EU in a year. Which was predictable.

4. Germany have said they are going to be actively seeking to move the financial centre from London to Germany and now they have the argument that the UK will not have the same access to the EU. Will the Germans achieve their goal? No idea, but we have strengthened their hand immeasurably. Given that the amount of money generated by the city is a considerable proportion of our GDP, I should think any threat to this should at least give us pause for thought.

5. I am disgusted that so soon after telling us we'd have £350 million a week to spend on the NHS/farmers/fishermen/university/every other sector (so spending it multiple times over) the leaders of Leave have now said they "got the figure wrong" and it will be a lot less than that. I believe they knew it wasn't accurate all along and lied. Can't prove they knew, but plenty people warned the figures weren't accurate. If they were wrong about this, what else will they be wrong about? If they lied, what else did they lie about?

6. The EU have made it clear that it won't be an "amicable divorce" and there is a reasonable appetite for making an example of Britain to deter others from leaving. All this talk of the EU rolling over and giving us a great deal because we are so important to them looks to be utterly hollow. It remains to be seen what deal and agreements we do come to. It is perfectly possible that we will still have to pay into the EU (as Norway etc does) and abide by most of it's regulations in order to have access to the single market (and there is some suggestion this may include free movement of people) but have no say or veto in any of it.

7. And for those worried about immigration- there are moves in France to renegotiate the bilateral agreement and move the border from Calais to Dover. May not happen, but given that it is costing France time, expense and a lot of hassle, whilst simultaneously not being popular with the locals and I imagine they will seek to change that agreement to suit themselves.

This golden utopia promised by the Leave campaign was always false.

Ok - so when we're in the EU we pay money centrally and that is then allocated across the Union for research, public initiatives, investment, etc.

When we leave we won't be funding the EU and so it will be funded directly from the government. We're not going to suddenly stop doing things we were clearly doing for years before we ever joined the EU.

The challenge will be how quickly some of the programmes get established.

CCP no I am definitely not from the future but can't you see what eu is doing to GB?

costa

I did not ask it on mumsnet, I did ask it in real life to several different people. The general consensus was that nobody actually knows what will happen.

I'll admit that although I did so MANY hours of reading, talking, debating with friends/family about it - in the end I went with my gut instinct.

Any further thoughts...

I accept that we are most probably going to go into recession but having already been through it I am confident that it is 'survivable'

I think that things will start to improve after that.

I do believe that things sometimes have to get worse to get better. I'm not gonna say that's true or that's what going to happen but that's what I tend to believe generally.

I presume that we may have a rough few years, and I appreciate that there will be redundancies etc. I do not take this lightly.

I do still think that people are being hysterical and claiming that their lives are over when they actually cannot guarantee that we will even leave.

Who's to say that we won't renegotiate or that the petition to have another referendum won't go ahead?

We are in uncertain times, but I do think that this would be the case whether we had voted remain or leave.

I'm not going to pretend I am a political mastermind, I am not. I merely have an interest in it as I believe all citizens should.

I cannot predict the future and all I can do is remain positive because worrying (and believe me I am a worrier usually and I'm really actively trying to stop being one) is not going to help anyone's situation.

I really do hope that whoever takes over has a plan in place - Which I assume they will - and they can advise us on the best course of action and advise what the outcomes will be.

At the moment nothing is really happening in terms of leaving or negotiating. I am sure I will have more thoughts/feelings when this starts to happen.

I have just seen this on Facebook on the page on an MP.

Please can anyone advise me whether it's true or it's bollocks?

I am inclined to believe some of it but I have seen so many opposing arguments for most of the points I do not know what to believe...

"A Prime Minister resigned. The £ plummeted. The FTSE 100 lost significant ground. But then the £ rallied past February levels, and the FTSE closed on a weekly high: 2.4% up on last Friday, its best performance in 4 months. President Obama decided we wouldn't be at the 'back of the queue' after all and that our 'special relationship' was still strong. The French President confirmed the Le Touquet agreement would stay in place. The President of the European Commission stated Brexit negations would be 'orderly' and stressed the UK would continue to be a 'close partner' of the EU. A big bank denied reports it would shift 2,000 staff overseas. The CBI, vehemently anti-Brexit during the referendum campaign, stated British business was resilient and would adapt. Several countries outside the EU stated they wished to begin bi-lateral trade talks with the UK immediately. If this was the predicted apocalypse, well, it was a very British one. It was all over by teatime. Not a bad first day of freedom."

I don't know about anyone elses household personally but I know I've already lost my job :(

How much does it matter where the economy is in 10 or 20 years, if in the next two the uncertainty leads to my husband losing his job and us losing our house and burning through all our savings?

yes but Brexiters think short term pain is worth the supposed long term gain. The fact that more people will be living in cardboard boxes appears not to matter.

cannot guarantee that we will even leave.

The EU have already said we should go sooner rather than later, they don't seem to be interested in negotiations - why would they? They seem pretty keen to get rid a sap

Having voted to leave, why would you even think that NOT leaving should be a desirable possibility?

yes but Brexiters think short term pain is worth the supposed long term gain. The fact that more people will be living in cardboard boxes appears not to matter.

I don't agree with that at all.........

Short term recession probably will be worth it. Homelessness is obviously a massive issue and it becoming more prevalent is not something I would be happy with, but I am not sure how you can be certain that this will happen?

milkyface, quite a few people think the FTSE will do well, as a weaker currency is good for British manufacturers. However, the pound is definitely weak for the moment, but then it's been weak for a while.

It was a UKIP MP though wasn't it?

Probably we will go into another recession.

I can't help wondering if this will be the start of the break up of the EU altogether and we will end up with a much looser arrangement.

No one can predict exactly what will happen next. Personally I am going to be saving rather than spending.

*cannot guarantee that we will even leave.

The EU have already said we should go sooner rather than later, they don't seem to be interested in negotiations - why would they? They seem pretty keen to get rid a sap

Having voted to leave, why would you even think that NOT leaving should be a desirable possibility?*

Im not saying it's a desirable possibility - I'm saying its a possibility which essentially it is. I'm not saying that's what I would want to happen, though I'm sure for many people it is.

They may seem keen for us to leave; but nothing has been done yet has it?