Cable Forum - View Single Post - Post-Brexit Thread

1andrew1 · 20-01-2017, 11:40

No major surprise here, there's lots of work to do.

Brexit: Philip Hammond warns deal 'will take years'

Chancellor Philip Hammond has warned the process of exiting the EU is likely to last long beyond the two-year time frame stipulated by law.
He said the UK's exit was not just about negotiating a free trade deal, and could involve talks on migration policy and interim arrangements.
"There will be many transitions involved… these will take many years."
The government has said it will trigger Article 50 - the formal process of leaving the EU - by the end of March. After that, it will officially have two years to complete the process.
Speaking at the World Economic Forum in Davos, Mr Hammond said the government was still on track to meet this "rigid timeframe", adding that by the end of March 2019 he expected to "at least" have agreement on the "broad principles of the end state that will exist".
http://www.bbc.co.uk/news/business-38688786

---------- Post added at 11:40 ---------- Previous post was at 11:21 ----------

I don't think his Brexit scenario is likely but we do know that people will get squeezed financially this year as the weaker currency pushes up prices. It will be interesting to gauge Brexit support when the penny follows the pound and drops.

George Soros: Donald Trump 'will fail' and Theresa May's Brexit could 'last three days'

“In my opinion, it is unlikely that Prime Minister May is actually going to remain in power. Already she has a very divided cabinet, a very small majority in Parliament. And I think she will not last,” said Mr Soros, who was nicknamed The Man Who Broke the Bank of England because of his $10bn (£8.1bn) short sale of sterling in 1992.
“At the moment the people in the UK are in denial.
"The current economic situation is not as bad as was predicted and they live in hope. But as the currency depreciates, and inflation will be the driving force, this will lead to declining living standards.
“This is going to take some time, but when it does happen they’ll realise that they are earning less than before because wages won’t rise as fast as the cost of living.
“The divorce is going to take a very long time. It’s much harder to divorce than to get married, so I think the desire for rapprochement will develop, and in theory or maybe even in practice you could have a situation in 2019 or 2020 when Britain will leave the EU, because it does have to take place, but they could leave on a Friday but join over the weekend and have the new arrangement in place on Monday morning.”

20-01-2017, 11:40	#3871
1andrew1 cf.mega poster Join Date: Dec 2013 Posts: 14,229	Re: Post-Brexit Thread No major surprise here, there's lots of work to do. Brexit: Philip Hammond warns deal 'will take years' Chancellor Philip Hammond has warned the process of exiting the EU is likely to last long beyond the two-year time frame stipulated by law. He said the UK's exit was not just about negotiating a free trade deal, and could involve talks on migration policy and interim arrangements. "There will be many transitions involved… these will take many years." The government has said it will trigger Article 50 - the formal process of leaving the EU - by the end of March. After that, it will officially have two years to complete the process. Speaking at the World Economic Forum in Davos, Mr Hammond said the government was still on track to meet this "rigid timeframe", adding that by the end of March 2019 he expected to "at least" have agreement on the "broad principles of the end state that will exist". http://www.bbc.co.uk/news/business-38688786 ---------- Post added at 11:40 ---------- Previous post was at 11:21 ---------- I don't think his Brexit scenario is likely but we do know that people will get squeezed financially this year as the weaker currency pushes up prices. It will be interesting to gauge Brexit support when the penny follows the pound and drops. George Soros: Donald Trump 'will fail' and Theresa May's Brexit could 'last three days' “In my opinion, it is unlikely that Prime Minister May is actually going to remain in power. Already she has a very divided cabinet, a very small majority in Parliament. And I think she will not last,” said Mr Soros, who was nicknamed The Man Who Broke the Bank of England because of his $10bn (£8.1bn) short sale of sterling in 1992. “At the moment the people in the UK are in denial. "The current economic situation is not as bad as was predicted and they live in hope. But as the currency depreciates, and inflation will be the driving force, this will lead to declining living standards. “This is going to take some time, but when it does happen they’ll realise that they are earning less than before because wages won’t rise as fast as the cost of living. “The divorce is going to take a very long time. It’s much harder to divorce than to get married, so I think the desire for rapprochement will develop, and in theory or maybe even in practice you could have a situation in 2019 or 2020 when Britain will leave the EU, because it does have to take place, but they could leave on a Friday but join over the weekend and have the new arrangement in place on Monday morning.”