Oh no!! Brexit not going quite as well as hoped

[BoldonLad]

How has the value of the £ been affected by the Brexit vote and implementation?

Against the Euro, it has been remarkably stable, which surprises me.

 

[Mugshot]

Against the Euro, it has been remarkably stable, which surprises me.

Really?

https://www.expatica.com/finance/banking/brexit-currency-impacts-811031/

This article, updated a few days ago makes for grim reading.
15% lower against the Euro vs pre referendum. Lower against the US and Aus dollar etc etc.

I'm thinking this would make pretty much any goods bought from outside the UK more expensive, which I'm guessing would mean that Brexit has negatively affected pretty much ever consumer in the UK, and made the cost of living crisis worse.

 

[BoldonLad]

Really?

https://www.expatica.com/finance/banking/brexit-currency-impacts-811031/

This article, updated a few days ago makes for grim reading.
15% lower against the Euro vs pre referendum. Lower against the US and Aus dollar etc etc.

I'm thinking this would make pretty much any goods bought from outside the UK more expensive, which I'm guessing would mean that Brexit has negatively affected pretty much ever consumer in the UK, and made the cost of living crisis worse.

Yes, I meant since the actual “leave” vote. It has been steady in the 1.15-1.18 range, pre vote it was 1.35 ish.

I understood the question to be how has £ been since the leave vote.

 

[jowwy]

Really?

https://www.expatica.com/finance/banking/brexit-currency-impacts-811031/

This article, updated a few days ago makes for grim reading.
15% lower against the Euro vs pre referendum. Lower against the US and Aus dollar etc etc.

I'm thinking this would make pretty much any goods bought from outside the UK more expensive, which I'm guessing would mean that Brexit has negatively affected pretty much ever consumer in the UK, and made the cost of living crisis worse.

You do know that its fuel, gas and electric thats pushed the costing of living up……and also a lower pound against the euro, also means cheaper exports the other way, which means they buy more. But no one knows the true figures, as its all guess work and assumptions.

as it stated in the very article you posted. Also in that article its asking will the bank of england cut interest rates further…..which means that article is pretty damn old, even though its got an upate on 4/8/2022…it doesnt say what was updated. But a good try at least.

 

[All uphill]

Yes, I meant since the actual “leave” vote. It has been steady in the 1.15-1.18 range, pre vote it was 1.35 ish.

I understood the question to be how has £ been since the leave vote.

It very much depends on the period you choose. If you look at the last 20 years the exchange rate has gone from close to 1:1 to 1:1.4 on various occasions.

Looking at that sort of period it's not clear to me that there was a big Brexit vote effect (and I say that as an ardent remainer).

 

[BoldonLad]

It very much depends on the period you choose. If you look at the last 20 years the exchange rate has gone from close to 1:1 to 1:1.4 on various occasions.

Looking at that sort of period it's not clear to me that there was a big Brexit vote effect (and I say that as an ardent remainer).

indeed, I would agree.

 

[winjim]

Hmm...





Edit: sorry, no title on that graph. It's Sterling to Euro.

 

[Rusty Nails]

A very strange article. The dateline says updated August 2022 but most of the article is clearly as it was when it was written around 2016.
It would seem that there was an initial sharp drop on the result of the referendum, but it has been mostly moribund since then making occasional falls and rises, almost as if it has found its level, which is lower than it was pre-Brexit.

 

[Fab Foodie]

A very strange article. The dateline says updated August 2022 but most of the article is clearly as it was when it was written around 2016.
It would seem that there was an initial sharp drop on the result of the referendum, but it has been mostly moribund since then making occasional falls and rises, almost as if it has found its level, which is lower than it was pre-Brexit.

So on balance it's certainly not better and more or less worse....
.

 

[Mugshot]

So on balance it's certainly not better and more or less worse....
.

Well quite.
And exports are lovely and all but when you chuck in a whole load of extra red tape, massive delays at the ports and the candidates promising to rip up the remaining EU regs, have they said they're not including the various standards which are required for us to sell into that market? Either way, it doesn't seem like a particularly smart move.

 

[Mugshot]

A general fall from grace since 2016 by the looks, not recovered to pre referendum levels.

Although that may have changed since 2021 I guess.

 

[slowmotion]

What did it cost before Brexit?

About £20 at a "duty-free" shop. A bit less in the cheap grog shop on Shepherds Bush Road.

 

[Ian H]

Well quite.
And exports are lovely and all but when you chuck in a whole load of extra red tape, massive delays at the ports and the candidates promising to rip up the remaining EU regs, have they said they're not including the various standards which are required for us to sell into that market? Either way, it doesn't seem like a particularly smart move.

It seems to have particularly affected smaller producers selling to individuals, especially food, and in both directions - into and from the UK.

 

[Deleted member 49]

2016....350 million extra for the NHS.
2022....Pull your own fecking teeth out !

 

[Fab Foodie]

Well quite.
And exports are lovely and all but when you chuck in a whole load of extra red tape, massive delays at the ports and the candidates promising to rip up the remaining EU regs, have they said they're not including the various standards which are required for us to sell into that market? Either way, it doesn't seem like a particularly smart move.

Smart-moves left the building a long time ago....