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Thread: How Brexit may affect your wallet.

      
  1. #11

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    Default Re: How Brexit may affect your wallet.

    It has been tried (unsuccessfully) in Poland earlier this year : Source : ft.
    A change in Government can change domestic leglislation, but cannot undo what has been negotiate with foreign powers, without heading back to the negotiation table.
    "We demand strict proof for opinions we dislike, but are satisfied with mere hints for what we’re inclined to accept."
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    Default Re: How Brexit may affect your wallet.

    Quote Originally Posted by L'irlandais View Post
    It has been tried (unsuccessfully) in Poland earlier this year : Source : ft.
    A change in Government can change domestic leglislation, but cannot undo what has been negotiate with foreign powers, without heading back to the negotiation table.
    I think it will be quite a long time yet before the government does anything irrevocable ...

  3. #13

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    Default Re: How Brexit may affect your wallet.

    The referendum result is only advisory - the Government do not have to leave the EU (Although they promised to do so). If there was a General Election before Article 50 has invoked, the Labour Party could include continued membership as part of their manifesto and if they win say that trumps the Referendum result. The Tory party would probably have leaving in their manifesto.
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    Arrow Re: How Brexit may affect your wallet.

    Yipe you are both correct, 1. the result is not mandatory
    To quote the Ft once again 1. "The conventional wisdom is that, of course, a vote for Brexit would have to be respected," says the FT."
    & 2 a new government could (in theory) dismiss the result of this referendum.
    2 ...Very unlikely, say experts. Many commentators, including at the BBC, argue it would be "political suicide" if the government were to dismiss the result of a democratic vote.
    Last edited by L'irlandais; 24-06-16 at 13:06.
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    Default Re: How Brexit may affect your wallet.

    Quote Originally Posted by collybs View Post
    The referendum result is only advisory - the Government do not have to leave the EU (Although they promised to do so). If there was a General Election before Article 50 has invoked, the Labour Party could include continued membership as part of their manifesto and if they win say that trumps the Referendum result. The Tory party would probably have leaving in their manifesto.
    exactly.
    and it's inconceivable that the government could invoke article 50 without the authority of parliament and one way or another a general election could be forced.

    I think it's correct that a very large majority of MPs are pro-remain.

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    Default Re: How Brexit may affect your wallet.

    Quote Originally Posted by L'irlandais View Post
    2 ...Very unlikely, say experts. Many commentators, including at the BBC, argue it would be "political suicide" if the government were to dismiss the result of a democratic vote.
    you are missing the point.

    It would be very hard for this government to dismiss the referendum - but a new government elected on a manifesto promise to dismiss the result of the election would be in quite a different position.

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    Default Re: How Brexit may affect your wallet.

    Gents, for better, or for worse, the UK population have made known their wish to leave the EU.
    All subsequent political decisions must take that fact into account.

    Ps. I was quoting the Beeb's response to the notion a newly elected government could say their manifesto trumps the referendum result. I don't think the Beeb were missing the point, rather they were responding to it. A fuller extract, may make that clearer :
    There is another scenario which could see the result overturned, says the BBC: "If MPs forced a general election and a party campaigned on a promise to keep Britain in the EU, got elected and then claimed that the election mandate topped the referendum one."

    How likely would that be?
    Very unlikely, say experts. Many commentators, including at the BBC, argue it would be "political suicide" if the government were to dismiss the result of a democratic vote
    Last edited by L'irlandais; 24-06-16 at 14:06.
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    Default Re: How Brexit may affect your wallet.

    Interesting point about the next government and I wouldn't be surprised if at least one party tries it on. I'm not sure how I'd feel about a coalition of the far left though.

    I'm not sure such a gambit would necessarily fail. Sure, a majority of voters voted to leave, but would the turnout be as high in a general election? It never has been. Particularly amongst one of the primary leave-voting demographics. Or it could go the other way. I've not spoken to anyone who didn't vote, but how many of them woke up thinking "oh dear"?

    Or there might be a bit of buyer's remorse. Particularly after seeing what the economy's doing and going to do, I'd expect more leavers to reconsider than remainers.

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    Default Re: How Brexit may affect your wallet.

    Fair enough, but that's a bit of a hard sell- vote for us we promise to ignore what the majority have said they want.
    "We demand strict proof for opinions we dislike, but are satisfied with mere hints for what we’re inclined to accept."
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    Default Re: How Brexit may affect your wallet.

    It would be a hard sell, but 35% of the electorate sound really very unhappy and I'd expect someone to try to tap into that. And you don't need a popular majority to form a working government - I forget when the last one was, but it wasn't in my lifetime. Even in Labour's win in '97 they had about 35% of the popular vote.

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