EU & Brexit Bunker

[briantrumpet]

Don't be so patronising.

But isn't it durr rigour?

 

[Ian H]

But isn't it durr rigour?

Only in mid-Lancashire.

 

[Dorset Boy]

Corporate tax and personal tax are two different things.

Well I never!
And you called me patronising.

 

[PurplePenguin]

Why do you think (as you say) *all* the studies say this? Are they all wrong?

I don't think it is wrong to say that the performance of the UK economy used to be more correlated with the US economy. This seems like a fairly factual statement.

What should be explored is why the correlation has lessened. One significant event for the UK has been Brexit, so perhaps that is the reason?

Alternatively, perhaps the UK economy's significant financial sector showed correlation with the US's financial sector during the financial crisis. Perhaps the impact of the Ukraine war on gas prices had less impact on the oil exporting US. Perhaps Covid did not impact the countries equally.

 

[Mr Celine]

Economic models are based on much less settled ground. There's no equivalent to the laws of thermodynamics in economics modelling.

Le Chatelier's principle appears to apply to changes in benefits or taxation.

 

[C R]

Le Chatelier's principle appears to apply to changes in benefits or taxation.

Well, it is a principle after all, not a law

 

[Ian H]

Well, it is a principle after all, not a law

As The Economist editorialised (I probably am paraphrasing): economics is extremely difficult. That's why it's so fascinating.

 

[bobzmyunkle]

economics is extremely difficult

Can't be that difficult, we've got a good number of experts on here.

 

[briantrumpet]

I read a remark that, as Brexit consolidates itself as being shit in the minds of the public, it's now getting blamed for all sorts of Britain's problems, much like the EU was before.

Maybe this should go in the Irony thread.

 

[Pross]

As The Economist editorialised (I probably am paraphrasing): economics is extremely difficult. That's why it's so fascinating.

Economists telling people economics is really complicated. The big problem is them thinking / wanting others to believe that internal economic policy can be controlled far more that it actually can be in a global economy.

 

[Pblakeney]

Economists telling people economics is really complicated. The big problem is them thinking / wanting others to believe that internal economic policy can be controlled far more that it actually can be in a global economy.

Said as much when the tories were being blamed for inflation during world inflation.
Repeated it when they tried to take credit for the inflation falling.
The UK is at the mercy of the world markets.

 

[Ian H]

Said as much when the tories were being blamed for inflation during world inflation.
Repeated it when they tried to take credit for the inflation falling.
The UK is at the mercy of the world markets.

Government policies will mitigate or worsen the effects.

 

[Pblakeney]

Government policies will mitigate or worsen the effects.

To a degree, but nowhere near as much as they make out. Sleepy Don has more impact on our economy.

 

[Ian H]

To a degree, but nowhere near as much as they make out. Sleepy Don has more impact on our economy.

Oh I don't know. Osborne's austerity measures in a recession were pretty devastating, whereas Brown is credited with mitigating in the UK the effects of the world banking crash.

 

[Pblakeney]

Oh I don't know. Osborne's austerity measures in a recession were pretty devastating, whereas Brown is credited with mitigating in the UK the effects of the world banking crash.

The UK suffered in both instances. Their actions may have helped or hindered but the fact remains that they were not in control.