| Topic: | Re:Re:Has Brexit affected you yet? | |
| Posted by: | T P Howell | |
| Date/Time: | 06/07/16 09:44:00 |
| Log on to Right Move, and put in your post code, and see how many of the asking prices for local properties have been reduced in the last week. Maybe not a bad thing in itself. But this indicates a lack of confidence in the economy, and will lead to a downward circle as banks reduce the amounts they are willing to lend. If this leads to widespread negative equity, it could put pressure on some of the banks again, so leading to a reduction in lending, and so investment. Just one specific example,an English company involved in high tech energy management, working with the Lithuanian Institute of Energy and a consortium of other companies across Europe will now probably relocate elsewhere in the EU to ensure access to EU funding. This means that the investment, and the UK jobs that would otherwise have been created, will now go elsewhere. Part of my work is to promote inward investment into the UK. This has been very hard over the last year, due to the uncertainty from the Referendum announcement. As mentioned in previous posts, I know of numerous inward investment projects that have been pulled or postponed. It is very difficult to measure what might have happened but will not now happen. But the numbers are very substantial. We will only really be able to make an objective assessment in a year or two when the official statistics are released, and it will not be a pretty picture. This translates into less money flowing into the UK, and fewer, well paid, jobs within the UK economy. |