UK votes for #BrExit from the EU. 52% Leave - 48% Stay.

[stephen25000]

So it begins.

EU referendum: Moody's cut UK's credit outlook to 'negative'

The UK has had its credit rating outlook downgraded to "negative" by the ratings agency Moody's after the country voted to leave the EU.

Moody's said the result would herald "a prolonged period of uncertainty".

Meanwhile, PM David Cameron is under pressure to speed up "divorce" talks with the EU after Brussels said exit negotiations should start immediately.

EU head Jean-Claude Juncker said it was "not an amicable divorce", but it was "not a tight love affair anyway".
Moody's said the referendum result would have "negative implications for the country's medium-term growth outlook", and it lowered the UK's long term issuer and debt ratings to "negative" from "stable".

It added: "In Moody's view, the negative effect from lower economic growth will outweigh the fiscal savings from the UK no longer having to contribute to the EU budget."

It also said the UK had one of the largest budget deficits among advanced economies.

Colin Ellis, chief credit officer at Moody's, told BBC Radio 4's Today programme the UK's credit rating could have an impact on UK households in the long term.

"The government borrowing rate is normally the benchmark - it is the rate at which other interest rates in the economy are set," he said.

"A lower rating would typically correspond to higher borrowing costs, and that would be felt not just by the government but by businesses and households in the longer term."

The financial assessment came after the UK voted to leave the EU, and a defeated Mr Cameron said he would step down as leader by autumn.

Pro-Leave MP Boris Johnson is tipped as favourite to replace him.


http://www.bbc.co.uk/news/uk-politics-eu-referendum-36626201

[Mr Gray]

So it begins.

EU referendum: Moody's cut UK's credit outlook to 'negative'

The UK has had its credit rating outlook downgraded to "negative" by the ratings agency Moody's after the country voted to leave the EU.

Moody's said the result would herald "a prolonged period of uncertainty".

Meanwhile, PM David Cameron is under pressure to speed up "divorce" talks with the EU after Brussels said exit negotiations should start immediately.

EU head Jean-Claude Juncker said it was "not an amicable divorce", but it was "not a tight love affair anyway".
Moody's said the referendum result would have "negative implications for the country's medium-term growth outlook", and it lowered the UK's long term issuer and debt ratings to "negative" from "stable".

It added: "In Moody's view, the negative effect from lower economic growth will outweigh the fiscal savings from the UK no longer having to contribute to the EU budget."

It also said the UK had one of the largest budget deficits among advanced economies.

Colin Ellis, chief credit officer at Moody's, told BBC Radio 4's Today programme the UK's credit rating could have an impact on UK households in the long term.

"The government borrowing rate is normally the benchmark - it is the rate at which other interest rates in the economy are set," he said.

"A lower rating would typically correspond to higher borrowing costs, and that would be felt not just by the government but by businesses and households in the longer term."

The financial assessment came after the UK voted to leave the EU, and a defeated Mr Cameron said he would step down as leader by autumn.

Pro-Leave MP Boris Johnson is tipped as favourite to replace him.


http://www.bbc.co.uk/news/uk-politics-eu-referendum-36626201

you need to look long term....not short term

[stephen25000]

you need to look long term....not short term

I am looking in the long term.

The Brexit campaign was full of slogans and a campaign directed solely at the fear of immigration.

They never really expected to win.

There was no economic plan for the aftermath.

The rest of the EU wants us out a.s.a.p.

There is political indecision in Parliament now,  with Cameron resigned, and who does want to initiate article 50.

It is a recipe for uncertainty, which I anticipated would happen if the vote was for out, and so it has proved.

This is what happens when people don't think through the consequences of their actions.


Interesting to note, that the highest 'out' votes occurred in areas where the immigrant population was the lowest.

[G-Unit]

So it begins.

EU referendum: Moody's cut UK's credit outlook to 'negative'

The UK has had its credit rating outlook downgraded to "negative" by the ratings agency Moody's after the country voted to leave the EU.

Moody's said the result would herald "a prolonged period of uncertainty".

Meanwhile, PM David Cameron is under pressure to speed up "divorce" talks with the EU after Brussels said exit negotiations should start immediately.

EU head Jean-Claude Juncker said it was "not an amicable divorce", but it was "not a tight love affair anyway".
Moody's said the referendum result would have "negative implications for the country's medium-term growth outlook", and it lowered the UK's long term issuer and debt ratings to "negative" from "stable".

It added: "In Moody's view, the negative effect from lower economic growth will outweigh the fiscal savings from the UK no longer having to contribute to the EU budget."

It also said the UK had one of the largest budget deficits among advanced economies.

Colin Ellis, chief credit officer at Moody's, told BBC Radio 4's Today programme the UK's credit rating could have an impact on UK households in the long term.

"The government borrowing rate is normally the benchmark - it is the rate at which other interest rates in the economy are set," he said.

"A lower rating would typically correspond to higher borrowing costs, and that would be felt not just by the government but by businesses and households in the longer term."

The financial assessment came after the UK voted to leave the EU, and a defeated Mr Cameron said he would step down as leader by autumn.

Pro-Leave MP Boris Johnson is tipped as favourite to replace him.


http://www.bbc.co.uk/news/uk-politics-eu-referendum-36626201

Sounds like they can't wait to see the back of us. Hardly surprising really, we never fully committed to the EU anyway. What is missing now is someone to pull this country together and ignite our fighting spirit. A good leader could make all the difference to our future now.

Wasn't Osborne reducing our deficit? No? Why all the cuts then?

[stephen25000]

Sounds like they can't wait to see the back of us. Hardly surprising really, we never fully committed to the EU anyway. What is missing now is someone to pull this country together and ignite our fighting spirit. A good leader could make all the difference to our future now.

Wasn't Osborne reducing our deficit? No? Why all the cuts then?

The cuts were ostensibly to reduce the deficit.

Which hasn't worked.

A look at the UK debt clock will show that.

Likewise , the real UK debt clock should include pensions.

http://www.iea.org.uk/blog/true-level-of-uk-government-debt-exceeds-%C2%A35-trillion

http://www.nationaldebtclocks.org/debtclock/unitedkingdom



Meanwhile the main , but not only reason for the cuts was the right wing politics of the Conservatives.


Meanwhile public money is wasted on such projects such as the high speed rail links,, when money should be spent instead on the existing system.

[Mr Gray]

Sounds like they can't wait to see the back of us. Hardly surprising really, we never fully committed to the EU anyway. What is missing now is someone to pull this country together and ignite our fighting spirit. A good leader could make all the difference to our future now.

Wasn't Osborne reducing our deficit? No? Why all the cuts then?

Osborne did reduce the deficit left by the last Labour govt...by quite  a lot... I agree we need a strong leader

[stephen25000]

Osborne did reduce the deficit left by the last Labour govt...by quite  a lot... I agree we need a strong leader

Really ?

Look at the National Debt clock, which has more than doubled since 2010.

Then look at how much the UK has borrowed since 2010.

[stephen25000]

Marching on.

https://petition.parliament.uk/petitions/131215

[rotti]

maybe the Scots who wanted to leave the UK 'there was 40% odd' should also have had a petition after losing

[stephen25000]

maybe the Scots who wanted to leave the UK 'there was 40% odd' should also have had a petition after losing

You do realize that all the vote has done is show up all the lies that Brexit used, and now we have financial instability.

Are you happy with that ?

The UK Government is in crisis.

Cameron wants none of implementing Article 50. Well, I blame him for this mess anyway.

Corbyn is making a speech at 11 am.

Tell me Rotti, how has the EU harmed your life ??

[G-Unit]

I am looking in the long term.

The Brexit campaign was full of slogans and a campaign directed solely at the fear of immigration.

They never really expected to win.

There was no economic plan for the aftermath.

The rest of the EU wants us out a.s.a.p.

There is political indecision in Parliament now,  with Cameron resigned, and who does want to initiate article 50.

It is a recipe for uncertainty, which I anticipated would happen if the vote was for out, and so it has proved.

This is what happens when people don't think through the consequences of their actions.


Interesting to note, that the highest 'out' votes occurred in areas where the immigrant population was the lowest.

What some people haven't grasped is that scare mongering only works if people can see for themselves what is happening. There has been a steady rise in the West Midland's foreign-born population, hence the 'out' votes in that area.

Scare mongering carried through some of Osborne's cuts, but in the end he was stopped because people could see he was taking it to ridiculous lengths and not achieving his own targets. He was not allowed to mess with tax credits, it was a step too far.

If Conservative politicians campaigned for Brexit but didn't expect to win that just shows that it was a cynical ploy to publicise themselves as alternatives to the government. Only when we have MP's who are there to represent the public and not themselves will this country get back on track.

If they will not or cannot carry out the will of the people we need a General Election to try and find some MP's with integrity. That would make a refreshing change.

Over the years I have seen a few who were there because they believed in what they do, even if I didn't/don't agree with them.

Winston Churchill
Margaret Thatcher
Tony Benn
Enoch Powell
Dennis Skinner
Frank Field
George Galloway

All passionate and committed. What a shame we have so few who stick to their principles no matter how unpopular it makes them. The fact that people don't trust what politicians say made it harder for the people to decide how to vote. The days when you voted for 'your' party because you trusted them are gone.

[stephen25000]

I never really believed Johnson or Gove were committed to Brexit.

It was IMO a cynical ploy to gain power in the Government.

I could see by their reactions yesterday, they never believed they would win the referendum.

P.S. The power vacuum that now remains after Cameron's resignation will only ignite more panic on the financial markets, and whether you like it or not, they do have an influence on our lives

[Myster]

Marching on.

https://petition.parliament.uk/petitions/131215

They need to grow up and accept the majority decision...

http://www.dailymail.co.uk/news/article-3658671/This-vote-doesn-t-represent-younger-generation-live-consequences-Millennials-fury-baby-boomers-voting-Britain-EU.html

[stephen25000]

They need to grow up and accept the majority decision...

http://www.dailymail.co.uk/news/article-3658671/This-vote-doesn-t-represent-younger-generation-live-consequences-Millennials-fury-baby-boomers-voting-Britain-EU.html

It wasn't a majority of the electorate Myster.

Besides,  the petition system is part of democracy.

Are you opposed to democracy ?

N.B. Watching some of the people yesterday who voted for exit was quite illuminating. Most of them couldn't come up with reasons why they had and they hadn't a clue about the consequences of such a decision.

[G-Unit]

You do realize that all the vote has done is show up all the lies that Brexit used, and now we have financial instability.

Are you happy with that ?

The UK Government is in crisis.

Cameron wants none of implementing Article 50. Well, I blame him for this mess anyway.

Corbyn is making a speech at 11 am.

Tell me Rotti, how has the EU harmed your life ??

Both sides lied and spun. Therefore you can't blame voters for finding it difficult to make an informed decision. It is all Cameron's fault and now he's running away rather than facing the consequences and fulfilling his promise. I expect he received an almighty shove to resign but that's just added to the turmoil. Financial instability was on the cards anyway with the continued rise in borrowing in my opinion.

What matters now is for someone to take control, set out a clear timetable and some financial plans. The deafening silence is a disgrace and just adds to the uncertainty. Our political classes are clearly not fit for purpose.