“Project Fear” ... I’m dumbfound at the ignorance.

[Septemberissue]

I am continually astounded by this government and the Brexiteers who are continually rubbishing claims and predictions by Industry leaders, experts, scientists, doctors and economists and claiming that it is part of the huge conspiracy; “project fear” should it not fit with their prosperous Eden that is post brexit Britain.

For example, Mark Carney said that the economy almost certainly would suffer as a result of no deal. But no no, he knows nothing. It’s project fear.

Dusty old Thatcherite tories (“Lord” Lamont) for example, on Newsnight last night said that Food supplies & medication would not be interrupted, despite industry leaders and experts saying it will. The Governments very own dry run of bringing the isotopes required for medical purposes such as xrays, scans, radio therapy etc. actually demonstrated that there would be delays, but again, these people are spouting lies & it’s just “project fear”. But of course, Lamont - who is arguably theee worst chancellor in British history - the man responsible for a run on the pound, is better placed to comment on this than the experts.

Another dusty old man of Tory grandeur Peter Lilley on PM tonight again dismissing claims by experts. It’s astounding.

Anyone who dares to call Brexit for what it is and gives their otherwise trusted opinion is a “remoaner” and their findings are just part of the so called project fear.

It seems that this faction want to blame anyone but themselves for this mess. It’s project fear. It’s the EU’s fault. They won’t negotiate. Our hands are clean. ... what extraordinary times we live in.

@Java2019 not necessarily- if the raw materials are costing more to import, the finished goods become more expensive which negates the lower pound value. I wish people would post things they understand about, rather than unsourced repeating of sound bites

80% of UK Economy is services. So how does cost of raw materials enter the equation?

It doesn't

But passporting might have an effect?

@Java2019
„A weaker pound would help to offset Import Taxes“

Well, in this case you better hope the USA and China don‘t know about this clever strategy 😅

Well, in this case you better hope the USA and China don‘t know about this clever strategy 😅

China is already doing it to shaft USA.

So we should become like China? Is that what you want? I thought Brexit was supposed to make things better? If it isn't going to be better, why are we still doing it?

Coming back to those services... when I charge an EU customer 75 euro per hour for a service job they currently pay me 75 euro per hour. If I charge a company in Mozambique 75 euro they take a 20% withholding tax in Mozambique for payment of services to a foreign company so I either earn 20% less or charge them 20% more making me uncompetitive. If I do business with the USA I need to fill in IRS forma and provide to company paying me and if both I and them are prepared to deal with the paperwork I am exempt from withholding tax. With no deal... what's the situation going to be with the EU client?

And having a weaker currency is working out amazing in venzuela; Argentina and Zimbabwe

More to do with dictatorship governments than economic strategy.

Guessing you have never lived in a country with its economy in a nosedive @Java2019 . I have. Niceties lime freedom of the press etc went out the window .

Guessing you have never lived in a country with its economy in a nosedive @Java2019**

Madagascar comes to mind.

this is a country which has survived several world wars / plagues / fire destroying the capital / civil war / many other wars - for anyone to consider Brexit in that light, well perhaps they are demeaning those who fought in those wars etc?

My grandfather would give you such a telling off for this were he still here. He fought through Italy during the war and, despite this, managed to love Italy and Italians. He spoke with fondness about the people there his whole life and considered himself European. He also believed that a union made us safer.

@MrsTerryPratchett
I think you have misunderstood me

I was using it as an example that we have survived and moved on through far greater disruption in World Wars than we will see with Brexit - nothing to do with Europe and countries we fought...

@Java2019
„China is already doing it to shaft USA.“

Imagine that!
And the US is currently considering of doing the same.

So how long and how far do you propose to devalue the pound in order to keep up with the competition and offset taxes?
I thought the dipping of the value was only temporary?

I don't believe it's 'Project Fear'. I just curse all those bastards in Parliament who brought us to this point. All of them.

It not just the price of goods from the UK, it'll be the faff that puts people off. I live in another EU country. Currently if I order stuff from the UK it's delivered straight to my door in 3-5 days.

Last year I bought a t-shirt from outside the EU. The package went to a customs holding warehouse and an invoice was sent to me for the import tax due. I made the payment online. The package was then sent to a collections point. Once they received it a collection slip was sent to my house and I had to drive to the collection point to pick it up. That's the normal process for non EU parcels. From order to collection took about a month.

I doubt many people here will be ordering from the UK once it leaves because the process is a pain and takes forever. I certainly won't be.

The effect on services will be far more extreme in the longterm.

The attraction of services from the UK was the avoidance of paperwork. If companies were willing to go through all the faff and paperwork, then they would already be buying services from countries such as India or the US rather than going through the UK.

It now looks like the recession is arriving earlier than anticipated.

Recession fears after economy shrinks for first time in 7 years:
www.thetimes.co.uk/edition/news/recession-fears-after-economy-shrinks-for-first-time-in-7-years-7vlhftp7b

I would have expected stockpiling to keep the economy buoyant for a little bit longer.

More to do with dictatorship governments than economic strategy.

It's all about economic strategy. It's just that dictators, who rule without checks and balances, are prone to making poor decisions (not all undemocratic countries have failing economies; China for eg).

In any case, with a U.K. prime minister who has said that he won't step down following a VONC, you might want to be cautious about this line of reasoning.

It now looks like the recession is arriving earlier than anticipated.

Personally I don't find it surprising at all. Stockpiling effect was always going to cause a Q2 hit. My bet is that this data will be revised downwards in due course.

@ImNotYourGranny - I doubt many people here will be ordering from the UK once it leaves because the process is a pain and takes forever. I certainly won't be.

That's it exactly. Additionally, I'm currently protected by EU distance buying regulations. That will no longer be the case. While the UK have implemented legislation to comply with the EU directive, they are not required to maintain the current level of protections. Additionally, I will not be able to use the current methods of recourse in the event of a problem. www.eccireland.ie/popular-consumer-topics/brexit-eu-consumer-rights/.

After Brexit, consumers who have a dispute with a trader based in the UK will no longer be able to seek redress through the ODR platform. In the event of a hard Brexit, the UK ECC will cease to be a member of the ECC-Net, which means we won’t be able to assist with complaints involving consumers or traders from the UK. Also, the European Small Claims Procedure will cease to operate in the UK in such a case.

Alternative Dispute Resolution (ADR) bodies that operate in the UK currently comply with the requirements of the EU ADR Directive. These ADR bodies are likely to continue after Brexit. It is, however, still not certain that consumers in other EU countries will be able to submit complaints about UK traders using these bodies.

If I want to return a product purchased in the UK (which I may not be able to do if the protections are diluted), I will have to try and claim back customs and excise from Revenue.

Please note that if you buy goods from a trader based outside the EU and later return the item, you may be able to claim a refund of the Customs Duty and VAT. Go to Revenue website for more on this.

I can assure that I will not be buying from the UK if this is the case. It's way too much hassle when I can source a supplier for pretty much everything I need within the EU.

ImNotYourGranny - where in earth are you buying things that need all this amount of import paperwork? I buy things all the time from ebay and Amazon that are sent direct from China and have no trouble at all.

Don't think it's got anything to do with Brexit, Germany also showed negative growth this month and China and the US have also slowed.

Bot everything is down to brexit .

@Doubletrouble99 - as far as I know, in those circumstances the supplier pays the taxes and deals with the paperwork.

I am a remainer anyway

But thode saying about following democratic aso people voted to leave .
But nowhere was it said that if we ended up as leaving through EU it could be without a deal .SOLD a dream under false pretences (like the NHS 350 million