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Uk Economy Was Struggling Before Brexit Vote: Survey

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The U.K. economy was stuttering even before the Brexit vote, according to a wide-reaching survey from the British Chambers of Commerce (BCC) published on Tuesday.

The country's main business-lobbying group said the service sector – the main driver of the U.K. economy – was weakening before the referendum last month, with both domestic and overseas sales falling. Its survey was based on more than 8,200 responses from private sector firms during the second quarter of 2016.

"Even before the EU referendum, both business confidence and economic growth were softening in many parts of the U.K. Our latest survey results, captured just before the vote, suggest that many businesses have been operating in something of a holding pattern for some time," Adam Marshall, acting director general of the BCC, said in the report.

The services sector accounts for more than three-quarters of Britain's economic output, according to the U.K.'s Office for National Statistics.

The BCC said manufacturing activity in the U.K. was also at historically low levels.

This site has been discussing these issues since when ...,..

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Are there people in the UK who think the country HASN'T been struggling since at least 2008? Errr....ZIRP (emergency measure never used from 1694 to 2008 let's not forget), H2B, doubling of national debt, rise of Aldi/Lidl/poundshops, dead housing market, monthly net borrowing of £8Bn to £10Bn, 4,000,000 zero hour workers, broke councils......is the article suggesting that all of the aforementioned COULD be signs of a healthy economy, and that it's had to take a deeper dive into the facts to find out the real state of the economy? The economy is slumped on the pavement, its nose purple, eyes bloodshot, hands trembling, pants pissed.

Edited by canbuywontbuy

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And so many drama queens got in a tiz with the referendum, and still are now it's over.

Well, this economic crisis is now heading towards the tenth xmas it was all going to be over by..._

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Some would say it's been really struggling and declining since the 80s/90s recession (only held together through relentlessly reducing interest rates and increases in debt) and even going back beyond that to the days of the 3 day week etc - but it's never been so blatant and evident than since 2007/2008 with extraordinarily low interest rates, even more rapid increases in debt along with money printing etc and throw the kitchen sink in economics.

Edited by billybong

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You're all wrong, Brexit is to blame. Caused by uneducated old racists.

Mate of mine said his company started struggling 9 months ago, they've been told the company is shutting down now.

My funding circle account say no end of company's struggling in the last 12 months. Was glad to get out of it without losing my short.

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You're all wrong, Brexit is to blame. Caused by uneducated old racists.

Yes,

What I am stunned by and I think reflects the economy is the number of range rover evoques.

I was sitting in traffic the other day surrounded by them, so many it was farcical. There is no way everyone is yorkshire is earning so much they can have an evoque. The median salary for my area is 20k.

" I dont care what the monthly payment is I work hard I deserve it"

Debt based economy.

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Yes,

What I am stunned by and I think reflects the economy is the number of range rover evoques flashy lease cars costing £200 pcm

I was sitting in traffic the other day surrounded by them, so many it was farcical. There is no way everyone is yorkshire is earning so much they can have an evoque. The median salary for my area is 20k.

" I dont care what the monthly payment is I work hard I deserve it"

Debt based economy.

Edited by TheCountOfNowhere

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It's been struggling since 2003 at least. You may also make an argument that the 80s fix covered up deep structural issues the UK economy has had since the late Victorian era.

Even in 2003 I knew companies with pay freezes and debt was out of control. You could say that the long term problems caused Brexit not the reverse.

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Even in 2003 I knew companies with pay freezes and debt was out of control. You could say that the long term problems caused Brexit not the reverse.

Thats the truth of the matter.

Now people are blaming the immigrants for their issues when in fact its countless insane policies designed at making a few 10's of 1000's richer and richer.

The UK is a basket case and I can see a lot of trouble coming soon.

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Even in 2003 I knew companies with pay freezes and debt was out of control. You could say that the long term problems caused Brexit not the reverse.

I'd very much say that.

Thats the truth of the matter.

Now people are blaming the immigrants for their issues when in fact its countless insane policies designed at making a few 10's of 1000's richer and richer.

The UK is a basket case and I can see a lot of trouble coming soon.

Although the immigrants are also a really, really big problem - anything that significantly adds to the population is.

Edited by Riedquat

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They're getting robbed then

http://www.whatcar.com/car-leasing/deals/land-rover/range-rover-evoque/?type=business

About 350 pcm including VAT

You can get a proper land rover for 500 pcm

Oh sorry not just land rovers. I know someone on the dole with an evoque on lease. Evoques seem common although 350 a month is still ridiculous to "rent" a car. Dicsos are fast becoming a favorite too.

I know people on significantly less than me leasing cars like beemers audis etc some over 500 a month. I know cause they boast about it like a badge of honour. So obviously when it comes to houses they dont give a shit about the cost of it. The debt of this culture is ingrained, is socially acceptable and is even something to boast of.

I dont think it will be ever fixed unless the uK has a period of serious hardship.

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I'd very much say that.

Although the immigrants are also a really, really big problem - anything that significantly adds to the population is.

I think that is half right.

Impovrished immigrants who come and live on benefits, ship money home and have no way, no reason or no intention to work are a massive burden on society.

Increase those numbers, increase the burden.

If there are no real weal creation jobs and an over burdened middle class in parallel with infrastructure that is stretched to breaking point, roads, hospitals, doctors, houses and house prices that are basically soaking up peoples free cash then you have a massive problem.

The immigration effectively is not the problem, the policies that brought them here and the refusal of the 1% to use the peoples money on the people and allow an affordable cost of living is the real issue.

Either way the UK is at breaking point, the people are at breaking point, society is being fractured, the young are being conned into supporting a pyramid that they will not be able to support and many will loose out big time.

If I can see it...and you can see it...then they can see it.

Ask yourself now...why dont they do something about it ?

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I think that is half right.

Impovrished immigrants who come and live on benefits, ship money home and have no way, no reason or no intention to work are a massive burden on society.

Increase those numbers, increase the burden.

If there are no real weal creation jobs and an over burdened middle class in parallel with infrastructure that is stretched to breaking point, roads, hospitals, doctors, houses and house prices that are basically soaking up peoples free cash then you have a massive problem.

The immigration effectively is not the problem, the policies that brought them here and the refusal of the 1% to use the peoples money on the people and allow an affordable cost of living is the real issue.

Either way the UK is at breaking point, the people are at breaking point, society is being fractured, the young are being conned into supporting a pyramid that they will not be able to support and many will loose out big time.

If I can see it...and you can see it...then they can see it.

Ask yourself now...why dont they do something about it ?

Debt = control?

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W

Oh sorry not just land rovers. I know someone on the dole with an evoque on lease. Evoques seem common although 350 a month is still ridiculous to "rent" a car. Dicsos are fast becoming a favorite too.

I know people on significantly less than me leasing cars like beemers audis etc some over 500 a month. I know cause they boast about it like a badge of honour. So obviously when it comes to houses they dont give a shit about the cost of it. The debt of this culture is ingrained, is socially acceptable and is even something to boast of.

I dont think it will be ever fixed unless the uK has a period of serious hardship.

We've had a couple of discussions on here before about car leasing and the jist of it is leasing versus buying then leasing is the way to go. The numbers for buying ( unless you buy and keep for a decade+, or you do high mileage ) don't make sense, especially at the top end of the marker.

The sensible thing to do, of course , is to use 6 months DISCO money and buy a 2nd hand diesel banger.

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