Question for everyone who keeps going on about how the economy will now be catastrophically ****ed: since it seems clear whoever ends up the next leader of the Tory party will attempt to negotiate a deal giving continued access to the common market, how is it that you think long term this is going to ruin our economy? We all know what the possible short term effects are driven by uncertainty, but medium-long term in terms of trade, how do you think we will be negatively effected?
A good question mate.
There are many variables here. Firstly the deal that is struck, if the insistence is that freedom of movement is excluded, then that'll leave us with a tariff that far out weighs our current payment to the EU - without doubt - and the deal itself will take ****ing years to conclude.
In the interim and then post an agreement being agreed, any global company seeking a European base is going to swerve the UK as its preferred choice. As if you're seeking to penetrate the EU market then you'll choose to place yourself within it.
Combine that with the companies who are currently based within the UK who might consider their mere presence here a risk due to the years of uncertainty and the potential damage to their potential growth within the Union, that might come from the mere association.
All of this will lead to us being on the outside looking in, we'll be an isolated island on the periphery of the EU landmass, with what exactly to attract external investment? What's the draw? Where's the advantage in staying here for a global business? Therefore how does any of this lead to an expanding economy?
Add to that the simple fact that the vast majority of our economic development projects in this country has been funded by EU funds for a generation, where's the cash coming from to continue that within a shrinking economy who's public purse will be reduced? It's therefore a fair assumption that it'll simply cease.
That's before we get onto the University research projects that spin off into innovation and thus economic development, that have virtually ALL, been funded by EU funds. All of which will simply disappear.
The entire spectrum of economic growth and development will be damaged and restricted in the short to medium term. Beyond that, I don't see where the growth in GDP is going to come from to undo the damage caused, and re-create what we already have in place.