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Have we been mis-sold a Brexit ? Should politicians be held to account ?

As the reality of the post-Brexit world begins to unwind are we beginning to develop a tad of buyers remorse ? Should silversurfers now press for a meaningful public enquiry to assess whether the Brexit was mis-sold ? Bankers were held to account for PPI mis-selling. Shouldn't we expect politicians to be subject to similar same rules of conduct ? Should they not also be held to account if guilty of misrepresentation or misleading statements that affect the national and public interest ?


Created By on 08/08/2016

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Informed democrat Original Poster
9th Aug 2016 21:02:04 (Last activity: 10th Aug 2016 15:51:47)
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Hello Mollflanders

That wasn't really the point of the question - the questions were - have people been mis-sold a Brexit ( if your answer is no they have not, then please provide soundly based evidence to support Leave's figures and assertions were accurate ); and IF politicians misrepresent and mislead should they be held accountable ?
Response from KEITH_WL made on 9th Aug 2016 21:41:44
And were George Osborne's alarmist statements soundly based? (To speak of only one culprit.)

Another point I don't understand: If we are a net contributor now, why do Remainers say that being out is a financial disaster.

These weren't my reasons for voting Leave, by the way, for they refer to areas that I don't understand. However I did have reasons for my vote.
Response from Informed democrat Original Poster made on 9th Aug 2016 22:38:43
Hello Keith

Certain statements are relatively easily verifiable - for example, the net contribution the UK makes to the EU budget is relatively easy to ascertain - whereas projections are less easy to substantiate - George Osborne's comments for example. The figures on the UK's net contribution to the EU is around £133 million not the £350 million cited by Leave. That is a simple fact. This equates to around 30p per day for each of us in the UK. That can be verified by looking the figures from the Office of National Statisics. George Osborne's projections had some reasonable calculations to underpin them, but presenting these as more than estimates was not helpful to anyone. The UK pays far less than the vast majority of comparable EU members. However, the issue in play is that even if the UK triggers Article 50 we will still have to pay to be able to trade: it is not a zero game. Key point. The UK has to be able to trade with the EU on favourable terms to survive - that is a simple fact. We depend on the EU - 50% plus of our exports go to the EU whereas only 17% of the trade goes in the other direction That by definition means it is a delusional to believe the UK has a strong hand: it would be nice to think we have but the terms of trade mean we simply do not. To access the market that we all in some way or the other depend on, we have to pay to play - simple fact.

So, Leave's argument that we will save lots of money if we leave the EU cannot be correct. Just look at the figures for what Norway has to pay to trade - it will make you realise that we actually have a very good deal. Norway also has to accept free movement of labour and abide by around 70% of EU directives. Their contribution rates is also set to rise substantially. To cap it all, Norway has to belong to the Schengen zone, the UK does not. Norway are excluded from talks - they simply have to accept what they are given - simple fact. If Article 50 is triggered the UK will be in the same place as Norway, or worse, as the EU will now need to show the other states that you cannot expect to me a member of the EU club and not abide by the same rules because you think you are different or better.

The moral of this sorry story is that if you opt-out of something you need to have a better place to go to. As I believe Lord Sugar said, or words to that effect, you don't get a better deal by throwing you toys out of your pram and leaving the boardroom ( like a sulky adolescent ). The reality is that we should be staying in the EU club to carry on fighting our corner and get back in the ring when we've taken a fews hits to the chin. That's what grown-ups have to do and that is what wins respect around the boardroom table.
Response from KEITH_WL made on 10th Aug 2016 15:51:47
First of all thank you for taking so much trouble with your reply. You are undoubtedly better informed on economics and political matters than I. So are a number of Leavers whose views make sense to me.

Secondly some general comments:- I'm not too impressed when emotive language is employed (needed?) to bolster arguments. Your very username 'Informed', 'Democrat' flags up in my mind P. G. Wodehouse's warning "If a man comes into your house and talks about how honest he is, then it's time to count your spoons". I might be misquoting and misattributing here. So far Google only reveals "The louder he talked of his honour, the faster we counted our spoons" from Ralph Waldo Emerson, so Wodehouse probably got it from him.

By the way, is the EU democratic in the way it is managed?

Without any wish to be rude, I will point out some examples of emotive language: "it is a delusional to believe", "like a sulky adolescent", "what grown-ups have to do". For the reason given above this sets up a resistance to accepting your other, more germane points.

Note that I didn't quote a figure for our net contribution to the EU or compare it with others'. It does seem agreed that the figure is positive, which suggests that the balance of advantage is arguable. We might lose something in our trade terms with Europe but won't it be easier to trade with the rapidly developing economies elsewhere? I don't know.

Long enough but I'll finish by saying that I love Europe, sus paises, ses langues, seine Kulturen. I cannot like the EU - it is bureaucratic, control-freak, one size fits all and undemocratic. It is a once good ideal gone hopelessly wrong. There is some sign that its countries (which I like) are in a mood to reform it, but little sign that its rulers (whom I didn't elect) will or even that they'll see the need.

Keith
Informed democrat Original Poster
9th Aug 2016 20:54:52
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Hello Irene88

That may or may not tbe the case but let's consider the facts on an informed basis..

Stockmarkets in the short term at least, do not necessarily reflect the underlying health of the overall economy, they simply reflect sentiment and the forces of supply and demand. Stockmarkets often rise when unemployment is on the up one of the - contradictions of capitalism. But, the exchange rate and the state of the public finances are far better reflectors of real economic health. Sterling has fallen to a 33 year low in short order time and the Bank of England has now been forced to push interest rates to virtually zero and turn the printing pressed back on. That's the real economy in play and it is not indicative of a healthy economy or greater future prosperity. If money printing and a plunging exchange rate is the road to greater prosperity then we should have moved to Zimbabwe.

Your housebuilder's joy simply reflects that the goverment now looks set to be taking-up the heavy lifting by having to borrow to fund housebuilding. Building more houses must make sense, but it has nothing whatsover to do leaving the EU - no correlation there I am afraid so doesn't pass the simple facts test. It is equally difficult to see how a plunging exchange rate, rising cost inflation, and yet more QE is good news or how the media is exagerating anything. All this means less money for health and pensions - I am afraid that is simple a financial fact of life. And we now have today's report from the Institute of Fiscal Studies estimating that the Brexit will cost more than 300,000 UK jobs. Let me guess the resonse to that one ....more biased experts telling us all a lot of exagerrated rubbish ! Yes and pigs might fly as well.
Irene88
9th Aug 2016 09:55:20
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Sorry but I think that brexit is the best thing that could happen for us. Having studied EU Politic at University back in 1996, I've been hoping for this for 20 years. The Media seem to be on a mission to say we got it wrong, but the stock market doesn't seem to agree. On Radio 4 this morning a major builder said that the housing 'slowdown and price drop' has been 'over hyped'.

Politicians mislead all the time - that what they pay the spin doctors for.
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