To think the UK is sleep walking into an economic disaster

[HerstoryInTheMaking]

Covid is obviously doing significant economic damage and harm. The UK public seem to have not embraced mask wearing as a prevention to spread meaning further outbreaks are likely as the virus lingers in the air according to scientists.

On top of this Govt stimulus seems to be too small for the crisis that we face despite promises of a new deal. The stamp duty cut appears to be a blatant attempt at keeping house prices artificially high when a correction is needed especially in the South East.

A transition agreement extension is now impossible and little progress has been made on trade talks with the European Union. Regardless of your stance on Brexit it appears that a No deal scenario would create economic harm to some degree in the short term.

So you have a severe recession that could get worse with a no deal cherry on top, whilst being led by a govt that hasn't exactly proved its competence in recent months.

Aibu to think we should run for the hills?

YANBU

We voted for them, we voted for Brexit and we're the ones not following the guidelines.

Not all of us

The stock market shows significant losses For the UK over the next 5yrs and 10yrs is even worse.
The only saving grace is going to be that this will be a world economic problem, so we will all be in it together! 🤪

Obviously, the UK is still in the process of disconnecting with the EU, we have already had yrs of austerity to repay our debts, now the govt has no choice to spend to bolster our economy, so here we go again.

In short, I believe this is the new normal, the USA is in crisis, Russia is not renewing the no nuclear deal, Pakistan and India are struggling, Brazil and Mexico are in the middle of the virus and China has a new infection of wuhan AND the plague!

The world survived the last flu epidemic, and so will we.
We need to learn to be patient, with ourselves and each other. We need to take responsibility for ourselves and help others do the same; not turn on each other!

This virus is NOT gone and will be around for a while, you cannot cure a virus as it self mutates, so a vaccine will only protect against the KNOWN strains.

Stop blaming ANYONE else, stay safe, do the right thing, wear a mask, help those you can, be thankful That healthcare here is free, grateful that even after you have exposed yourself and family ( others) by going out for a beer or to get a tan at the beach that there are people who will work tirelessly to nurse you back to health.

We live in a country where education is free......for gods sake people start acting liking it!

Covid Vaccine - not going to give lifelong protection so largely irrelevant

Stupidest post of the day goes to...

I agree about the free stamp duty keeping properties artificially high, this means after the free stamp duty period ends in 6 months and there are less buyers around, particularly with job losses etc, & people unable to pay their mortgages etc will find their property worth a lot less than they paid.

We live in a country where education is free......for gods sake people start acting liking it!

I think this every day 🙈

I'll hold the Government to account too, if it's all the same to you, user14. As for austerity repaying our debts. Omg, I I don't know whether to laugh or cry, seriously.

We voted for them, we voted for Brexit and we're the ones not following the guidelines

No, 'we' didn't.

But those who did are clearly already trying to shift the blame.

We voted for them, we voted for Brexit and we're the ones not following the guidelines.

Speak for yourself.

But really, as individuals, what can we do? Aside from hand wringing on social media, are there any practical options?

We're stuck with Brexit, hopefully not stuck with Covid but certainly with the long term fallout.

Don't really know what discussing it is going to achieve, but totally willing to be corrected.

Johnson isn't "sleepwalking" Read up Britannia unchained

These are intelligent people and he has chosen not to do what many european countries have done and invest in future technologies, instead, we get a Meal deal, an employer subsidy, housing price increases and herd immunity.

I'm fortunate enough to be able to benefit from the stamp duty cut (on a sale) but its wrong, it won't benefit the country, we need huge investment in tech that will generate well paid jobs.

70% of our business is European imports. We have no clue what is going to happen or how much extra we will have to pay. There is no way of knowing if our business model (established for 20 years) will be viable come 1st January 2021. Trying not to be terrified. Occasionally failing.

@Wakaranaihito

70% of our business is European imports. We have no clue what is going to happen or how much extra we will have to pay. There is no way of knowing if our business model (established for 20 years) will be viable come 1st January 2021. Trying not to be terrified. Occasionally failing.

I'm sorry you are in this situation. A family member imports almost all their product from EU (origins, it's not just passing through) and they voted for Brexit and The Conservatives. I feel no sympathy for them, but I feel awful for you and all the other casualties.

Run where OP? THERE IS NOWHERE TO GO !

Germany looks like it's run by a capable person. We've got the right to move and work there.....oh wait

Stop blaming ANYONE else,

I agree, in theory, but I find it really, really hard not to blame the politicians who’ve got us into this hole. Both the main parties have absolutely fucked up, the Conservatives arguably quite a bit more than Labour, but Labour deserve a fair amount of blame as well, I think, for handling Brexit so badly and handing the election to the Tories on a plate through their high-minded stupidity.

And I blame Boris Johnson for being an arrogant, lazy liar, for foisting Dominic Cummings on us, insulting the entire electorate in a time of national crisis and just generally being an utter, all-round nasty, dangerous dickhead.

Apart from that I try not to blame people

Plenty of us are not sleepwalking, we are well aware what’s happening and extremely worried. I would run if I had anywhere to go. But since our rights to live and work in 27 other countries are being removed, options are limited.

Anyone who voted for Brexit or for this government should hang their heads in shame.

You do understand what pandemic means don't you? Most other countries are in the same position because of Covid, not just the UK.

But they’re not, are they? We’re in a pretty bad position and pretending we’re not won’t help.

@HoneysuckIejasmine that's incredible! What have they said about it all? Do they not understand what it could mean for them?

My ex inlaws live in France and voted Brexit. It won't affect them because they're settled there. I think it's unfair...basically pulling up the drawbridge behind them.

I agree with every word @ThumbWitchesAbroad posted, and I am fearful for the future. Not so much for myself (I'm due to retire in a year and we are very fortunate to have paid off our mortgage a few years ago), but for younger friends and family and for wtf is going to happen to public services in this country.

The services we all depend on have been starved of funding for 10 years, and it really shows. There will be no way of rectifying this because of the costs of Brexit and Covid.

And I blame all the fuckers who voted for Cameron and his fucking referendum, for austerity and for Brexit. If it was just Covid, that would have been bad enough, but the combined effect of all 3 is a perfect storm.

You do understand what whataboutery means, don't you, @mrsBtheparker?

I'm extremely worried and that's increasingly stressful as I feel totally powerless. Because of their large majority the Tories can do whatever they like, and based on todays news this includes dozens of contracts to mates without tenders that are extortionate. Corbyn and Swinford should NEVER have agreed to December's GE.

This wringing of hands and looking back and blaming people or things is wrong.

The issues are what they are and we need to start looking forward and finding positive solutions to problems.

So much time is wasted rehashing done deals.

Brexit will be fine in my opinion. We have enough cards to enable a trade deal which is what we want. Why waste time and energy bemoaning the fact we have left the EU. It’s done. That ship has sailed.

We will get a trade deal I’m sure, that is in everyone’s interests not just ours.

The a Covid issue. No one knows how this is going to pan out, the biggest brains in the world don’t, so we have no chance of calling it.
I think there have been some bad decisions made, but that is with the benefit of hindsight. Some people have made an awful lot of money while others have suffered great human loss.

We have to keep moving forward positively and with conviction.

We are the grownups after all.

@colouringindoors

I'm extremely worried and that's increasingly stressful as I feel totally powerless. Because of their large majority the Tories can do whatever they like, and based on todays news this includes dozens of contracts to mates without tenders that are extortionate. Corbyn and Swinford should NEVER have agreed to December's GE.

Yes agree. I'm stockpiling non-perishable food and supplies and would love to move to France to obtain French citizenship but can't yet.

And I blame Boris Johnson for being an arrogant, lazy liar, for foisting Dominic Cummings on us, insulting the entire electorate in a time of national crisis and just generally being an utter, all-round nasty, dangerous dickhead.

Boris is gonna Boris, but I don't understand why the Conservative party is letting this shit show continue. I used to chuckle at the US with Trump, but we've got our own Poundland Trump now.

His latest nomination of Grayling as chair of the Intelligence committee is one of numerous things he's done that show he and Cummings are just laughing at us. They're trolling us so badly but we can do fuck all about it. Why are the Conservatives not doing anything? Theresa May has spoken out about a few things recently....why is nobody else?

AKiss it's all doom-mongering, the Tories wouldn't destroy the economy, that's Labour's thing. Honestly I'm sure they thought we'd stay in the single market. We haven't spoken about it lately as it does not go well.

@HerstoryInTheMaking

What I mean by 'sleepwalking' is no one in mainstream media (apart from FT) seems to care about no deal. There is so much talk and awareness of Covid related economic damage but no one is mentioning how a no deal is potentially less than 6 months away. Its like people have forgotten or have kept their eyes closed or maybe mainstream media have Idk.

This should be a major story, regardless of if you support Brexit or not its 'lunacy' to further damage your economy by no deal to quote the financial times analysis of it.

I'd say the 'media' are quite intentionally keeping those issues off the front page. Most of them desired this outcome and led the rag-reading masses by the nose throughout.