SoylentNews is people
SoylentNews
UK set for Brexit, as PM promises 'new dawn'
The UK [officially left] the European Union at 23:00 GMT, ending 47 years of membership.
[...] Pro and anti-Brexit demonstrations and marches are being held across the country, as the UK flag is taken down from EU institutions in Brussels.
Little will change immediately, as the UK begins a "transition period".
Most EU laws will continue to be in force - including the free movement of people - until the end of December, by which time the UK aims to have reached a permanent free trade agreement with the EU.
[...] The prime minister held a cabinet meeting at the National Glass Centre, a museum and arts centre in Sunderland, the city that was the first to back Brexit when results were announced after the referendum.
The meeting was held amid tight security.
[...] Mr Johnson told the Cabinet it was time to start a "new chapter in the United Kingdom's story" and end the division of the past three and a half years, according to a Downing Street spokesman.
The Cabinet discussed future trade deals, including seeking a a Canada-style free trade agreement with the EU, and Mr Johnson thanked Brexit Secretary Stephen Barclay for the work of his department, which is being wound up.
The PM told ministers the government aimed to have 80% of the UK's trade with other nations covered by free trade agreements within three years.
[...] "This is the moment when the dawn breaks and the curtain goes up on a new act. It is a moment of real national renewal and change."
[...] A new commemorative 50p coin will also come into circulation to mark the UK's withdrawal.
(Score: 5, Insightful) by Grishnakh on Saturday February 01 2020, @04:32AM (5 children)
I forgot to mention: on top of all this, now Scotland is pissed (because they voted to Remain), after this coming right after their close vote against independence, so now they're probably going to want to re-vote on that, and this time they may very well become independent from England/Wales, leaving the UK in an even worse economic state.
(Score: 0) by Anonymous Coward on Saturday February 01 2020, @05:07AM
Meh, the city (of london) has enough money to buy the energy from the windfarms in scotland.
(Score: 2, Insightful) by Anonymous Coward on Saturday February 01 2020, @09:06AM (3 children)
Ah but now you perhaps can see why UK left? Scotland did indeed vote to remain, but their vote means nothing - because they were overruled by the bigger players to whom they surrendered their sovereignty to.
But I think you're rather mistaken on the economy of Scotland (and the UK for that matter). The UK spends more money on public services than the entirety of money it gets back in tax from Scotland. They of course gain many things in return though. Scotland is currently dirt poor and that may change in the future, meaning they could eventually become 'profitable.' And there are also obvious strategic motivations in assimilating all land on your 'island.' But should Scotland declare their independence, and actually manage to make it happen (which as Brexit showed are two rather different things), it would likely be a boost to Britain's economy.
As for the UK's economy, they're currently doing literally better than ever.
(Score: 1, Touché) by Anonymous Coward on Saturday February 01 2020, @12:05PM (2 children)
By what metric? Because it's not true GDP-wise [countryeconomy.com]. The UK's per-capita GDP is currently at the same level as it was in 2005, and the years leading up to 2008 (banking crisis) and leading up to 2015 (brexit vote) saw a higher GDP than now.
(Score: 0) by Anonymous Coward on Saturday February 01 2020, @12:48PM (1 child)
Fair point. I was considering the stock market which is at record highs. Somewhat peculiar that the GDP at market are out of sync. Curious what's up there since they tend to, at least broadly, follow one another.
(Score: 3, Interesting) by Lester on Saturday February 01 2020, @02:47PM
Once I read a metaphor about the relation between economy and stock market.
Economy is a man walking a dog without a lease, and the stock market is the dog. The dog may stop, run 100m up or down, left and right. In the long term the dog moves with the man, but watching the dog for a minute doesn't help to know where the man is going to.