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The Credit Cruncher was conceived to help you to keep up to date with credit crunch and recession developments, it provides some helpful credit crunch advice and it addresses personal debt. The Credit Cruncher also seeks to explain how the credit crunch started and shed some light on the worldwide recession. Recently, we have begun to look at how BREXIT will affect the UK economy. Please feel free to leave comments where relevant.

17 Oct 2016

How will Brexit change our Economic Outlook?

So, at long last, there is a new 'play-thing' for us amateur economists to pontificate over - BREXIT. It's not like we are completely out of the woods regarding our economy, and I dread to think what our national debt figure actually is - but the focus has certainly shifted off the good ole Credit Crunch lately.
I admit I am late to the table with this one, and had I been paying more attention to this blog, I would have broached the subject earlier, so apologies for that.

Cards on the table then - I was a 'Remainer', and it's not that I have any great love for Europe particularly, but I am against rocking the boat for no good reason other then a vague belief that Europe is somehow holding us back. I am in favour of the 'stronger together' philosophy hence I was in favour of the UK remaining united too. I find it odd that some Scottish politicians could want 'out' of the UK, but 'in' to Europe - but I'm not going to get into that on this blog.....

So the 'Remainers' lost and the Brexiteers won - fair play, we now have a slightly different political landscape to deal with, and some very tricky terrain coming over the horizon. I have moved on (others appear not to be able to do so), but the result was remarkable for a number of reasons.
I will happily accept that broadly speaking, there are some good points that we will gain from gaining a degree of independence from Europe, although I would maintain that we can't be sure that they outweigh the negatives. So I am happy to assert that many well-meaning Brexit supporters actually believe in a solid economic argument.
That said, there are evidently swathes of others who somehow thought that they were voting for some sort of ethnic cleansing to the point where they have been emboldened to shout obscenities at foreigners in the street. These foul types (NOT Brexiteers, but thugs who have seen Brexit as a means to some sort of white supremacy) have been sold a lie by UKIP who have emerged as little more than the BNP in a suit and tie. UKIP (where are they now?) were given an extraordinary amount of exposure considering how little influence they have on anything (Their biggest power base is in the European Parliament!! - you couldn't make it up...). Their mouthpiece Farage (where is he now?) painted a picture of an immigrant-free UK with a well-funded NHS, when he had not the means to bring it about - He 'won' a referendum, not a vote for seats of power. When the party was over, he freely admitted that he was not able to make any of his promises happen - and how could he? He's not even got a seat in Parliament himself - his party is a shambles, their policies are virtually non-existent.

Don't get me wrong please, my disgust at the situation is not because the vote was lost, this is not sour grapes - I am disgusted at how we were led to this point by people with no power and no plan, and now those who could see it was a terrible idea are left having to carry it out. Yet I am not an advocate of a second referendum - that to me would be a nonsense, it would be like Alex Salmond demanding a referendum on the Scots leaving the UK every year until he finally got the result he wanted. No, we must carry it through and make the best of the hand we have dealt ourselves. My real problem is as I mentioned earlier, the belief amongst mindless thugs, that this is a victory for 'Engerlanddd' in post-National Front and post-BNP Britain.

I am thoroughly English and proud of it, yet I would welcome any foreign national genuinely seeking asylum, seeking respite from awful regimes and terrible life-experience, seeking education and work - these individuals enrich and enhance our nation. I am ashamed of the rampant nationalists, and fervently hope their number remains small and insignificant. I am slightly concerned that in post-BREXIT Britain, a line has been crossed where it is becoming acceptable to regard 'foreigners' with suspicion and not a little hatred - Europe has been there before....

Well that's the political rant, I know not everyone will agree with me, and as long as you don't advocate thuggery, I am happy to discuss the pro's and con's of Brexit without getting overly excited. I am looking forward to exploring some of the questions that surround the huge issue of how exactly we are going to extricate ourselves from the European Union.

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