The Brexit deadline has been extended till 31st October 2019. A second referendum is being thought over where around 30 to MPs’s don’t want to have the second referendum and on the other side around 80 MP’s wants to have the 2nd referendum. The chances of the 2nd referendum and the result of the same seem to be very clear. The deadlock situation can only be eliminated through people vote and through 2nd referendum. The people of the UK may not go for Brexit. It is not 2016 but 2019. Theresa May might come to an end of her position soon. The cost of Exit was not calculated in the 1st Referendum which currently has been figured very well. This calculation is the key to decide the verdict.
If the second referendum happens the Vote will be not to leave EU. Yes, the time has changed from 2016 to till now. UK will vote to stay within the EU. The citizens have already felt the heat of leaving the EU. From 2016 to 2019 things have changed dramatically where every citizen knows the dire consequences they have witnessed and will witness further once the UK exit the EU.
The chances of the 2nd referendum are high and that cannot be ignored. The citizens are already facing the heat where analysis from a Research company, it has been found on an average household has paid £550 more since 2016. According to the report it has been found that at least £15bn more have been spent on the household consumption items by the UK people. For example, the price of filter coffee has risen by 10 per cent, the cost of bananas has increased by the same amount and a glass of wine bought in a pub or restaurant has gone up by 8 per cent. Well, the cost of energy bills increasing by an average of £75 a year.
Coming to the corporate segment of the UK, companies have already burnt their fingers with escalated cost on machine and transportation to the tune of with £4.4bn out of the £15bn.
Citizens living in other EU states will be under severe pressure once the Brexit happens. In France, till now Income Checks are not there on the UK people living in that city. But soon income checks will come into place.
France has a rule where it states that if one is single then must earn at least €559.74 a month, a figure that increases to €958.237 if they have a child. In the case of couples, one must earn €839.62 as a household or €1007.55 in case you have a child. Pensioners must have an income of €868.20 if they are single or €1,347.88 if they are in a couple. In the future, these numbers will increase. Currently, the French government doesn’t check these numbers but once the Brexit kicks in these checks will make life miserable.
Further the burden of exit liability in monetary terms will make life difficult post Brexit. The EU pension is one of the biggest liability and the EU does not have provisions in advance. They follow the rule of Pay as you Go. Hence when the UK will exit EU the liability of pension at that point of time including the currency impact will have a significant burden.
Already we have witnessed that most of the jobs have shifted out of London due to Border arrangement and free movement regulatory fears. This will have a significant impact on the cost of living for UK people in the long term.
The the job market of UK is in a miserable state of condition. Job vacancies in London’s finance industry have halved in two years. Recruitment agencies state that the number of jobs available in the city’s financial services industry and the number of finance professionals seeking new jobs have each fallen by more than half in the past two years.
According to the report by the Department of Finance and the Economic and Social Research Institute (ESRI) ano Brexit deal would cost 80,000 jobs to the Irish economy.
Its time to hear the demand of citizens of U.K. The citizens of UK will decide the fate of Brexit now. Situation has changed from 2016 to 2019. I repeat what I told at the beginning, the cost of Exit was not calculated in the 1st Referendum which currently have been figured very well.
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