Post-Brexit News and Discussions

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Yuli Ban
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Absolutely tragic case of national suicide.
And remember my friend, future events such as these will affect you in the future
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Today I was thinking: "If humanity can't successfully manage one country leaving an economic bloc, how is humanity going to deal with the complete collapse of our entire eco system." ... We can't and that's the answer.
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A devastating blow for the UK.

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Intel not considering UK chip factory after Brexit

Published
13 hours ago

The boss of Intel says the US chipmaker is no longer considering building a factory in the UK because of Brexit.

Pat Gelsinger told the BBC that before the UK left the EU, the country "would have been a site that we would have considered".

But he added: "Post-Brexit... we're looking at EU countries and getting support from the EU".

Intel wants to boost its output amid a global chip shortage that has hit the supply of cars and other goods.

The firm - which is one of the world's largest makers of semiconductors - says the crisis has shown that the US and Europe are too reliant on Asia for its chip-making needs.

https://www.bbc.co.uk/news/business-58820599
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Brexit worse for the UK economy than Covid pandemic, OBR says

Thu 28 Oct 2021 05.48 BST

The impact of Brexit on the UK economy will be worse than that caused by the pandemic, according to the chairman of the UK fiscal watchdog.

Richard Hughes said the Office for Budget Responsibility (OBR) had assumed leaving the EU would “reduce our long run GDP by around 4%”, adding in comments to the BBC: “We think that the effect of the pandemic will reduce that (GDP) output by a further 2%.”

“In the long term it is the case that Brexit has a bigger impact than the pandemic”, Hughes told the broadcaster, hours after the OBR responded to Rishi Sunak’s latest budget by saying it expected inflation to reach 4.4% while warning it could hit “the highest rate seen in the UK for three decades”.

It came as Downing Street vowed to retaliate against France if Paris goes ahead with a “disappointing and disproportionate” threat to impose sanctions in an escalation of a row over fishing boats.

The French government dramatically warned it will block British vessels from some ports next week if the post-Brexit dispute over fishing licences is not resolved.

https://www.theguardian.com/politics/20 ... c-obr-says
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Brexit, Encouraging European Companies to Move to the UK?
by Kenneth Surn
November 24, 2021

https://www.counterpunch.org/2021/11/24 ... to-the-uk/

Extract:
(Counterpunch) BoJo’s main slogan “Get Brexit Done” may have resonated with a big chunk of voters, but it is palpable now that Brexit is not yet “done” (for example, the UK is trying to back out of the Northern Ireland Protocol it signed with Brussels, the core of which requires a “soft” border to exist between the two parts of the partitioned Irish isle); and those fragments of it that have been “done” are turning out to be a disaster for Ukania.

The UK Office for Budget Responsibility (OBR) forecasts a 4% reduction in national income once the full effects of Brexit are felt; tax increases will be needed to offset revenues lost from the Brexit drag on the economy; the OBR says inflation is set to peak at close to 5% in spring next year and remain high for the next 2 years; new trade deals, greeted with Tory drumrolls, will add less than 0.2% to GDP in the long term; US-UK trade talks are completely non-existent; as mentioned, the Northern Ireland Protocol, essential to peace between the two parts of Ireland, is in jeopardy; meat carcasses are being sent to the EU because of worker shortages at UK meat-processing facilities; supermarkets have empty shelves; fruit and vegetables have been rotting on farms because seasonal workers from EU countries have left the UK and won’t return; there is a lack of chicken products on the menus of fast-food outlets; a shortage of workers from EU countries is hampering housing construction; drivers of long-distance trucks are in short supply; the departures of staff originating from EU countries is putting pressure on the NHS; the UK fishing industry has been sold down the Channel; and so on.

Larry Elliott, the Guardian’s economics editor, says of this situation: “Inflation has hit its highest level in a decade. For most people, prices are rising faster than wages. Energy bills are soaring. The Bank of England is poised to raise interest rates next month. Personal taxes are going up in the spring. A tough winter looms”.

As a result, the magical thinking and myth-making underlying the Brexit prospectus have had to be extended, or even magnified, to gloss over Brexit’s increasingly visible shortcomings. Every seeming non-disaster has to be inflated into a post-Brexit accomplishment of huge proportions.

Last week the oil giant Shell announced it will take up a new tax residency in London and remove “Royal Dutch” from its name.
In addition to Shell, the article goes on to also mention Unilever and RELX deciding to base themselves inside Great Britain. These moves are not seen as having been caused by Brexit.
Don't mourn, organize.

-Joe Hill
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