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Old 4th Aug 2019, 09:05
  #752 (permalink)  
Join Date: Oct 2004
Location: UK
Posts: 1,693

Multiply that across the enormous number of UK companies supplying components into the EU and you see the size of the problem. Add this to Japanese, Indian and US and Korean companies considering relocating their plants within the EU as that is where the majority of the production goes, and you begin to see the massive hit that the UK economy is going to take as of November 1st.
Where I take issue is that it won't happen on 1st November, the pound will almost certainly take a big hit if the nuclear button of no-deal is hit on the 31st October, it may or may not bounce back. HOWEVER, rather like placing a frog into a pan of cold water and igniting the gas ring beneath, there will likely be a gradual drip drip of business drifting away from the UK to the EU, and I think the MO of the Brexiteers is that those jobs will be replaced, and UK companies will benefit from wonderful new trade deals that will go some way to mitigate the loss of those businesses that flea the UK once outside the EU.

I am very sceptical as to whether this can happen, which I why I am very pro-EU.
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