Over and out: our entertaining look at Brexit fallout

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 1 July 2016

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In the run up to the ‘greatest constitutional crisis of modern times’ it was said that no one knew what would happen if we voted ourselves out of the EU.

But like so much of the twaddle peddled by both campaigns’ liars-in-chief, this was also not the case.

We did kind of know if only we had listened.

The cool head at the Bank of England, Mark Carney, laid out the prospects in pretty clear and certain terms. And it is coming to pass.

The majority of people, it seems, only listened to the lies.

You must listen to this week’s podcast though.

You won’t get a more entertaining overview of the fallout from the EU-out until the dusty hysteria settles in about 2025.

Simon Lambert, Georgie Frost and Lee Boyce take a look at…

Whether an interest rate CUT is imminent – and just how badly savers will be affected

What we know for sure already about the economics of Brexit

Airfares are definitely going up

Banks are in trouble

Annuity rates are trashed

Savings rates look set to plummet

Tax credit and cash machines are safe

Also…

What kinds of trading deals are on the table for little Britain outside the European Union?

Tips for 20-somethings who’ll have to foot the bill for their debt-loving forefathers

How the flimsy looking pound is already affecting prices and jobs

Is it all Richard III’s fault?

And…

How to spot a scams

How to buy a second hand car

And what was your first car – and, honestly, how rubbish was it?

Transcript

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0:00.0	This is money brought to you in partnership with NS and I, giving you 100% security for your savings.
0:28.7	A very warm welcome to This Is Money and Share Radio podcast in partnership with NS&I.
0:32.5	I'm Georgie Frost here with you on DAB across the country online.
0:38.3	And through the Share Radio mobile app, every weekday from 9 until midday, sharing ideas about money. I'm joined in the studio today by This is Money editor Simon Lambert and Consumer Affairs Editor Lee Boyce to talk through some of the stories on their award-winning website they've been investigating over the last seven days and what a seven days it's been.
0:52.3	It now seems plausible that uncertainty could remain elevated for some time, with a greater
0:56.6	drag on activity than we had previously projected.
0:59.2	The Bank of England Governor Mark Carney hinting an interest rate cut could be imminent, saying
1:04.0	such a move would be needed to bolster growth in the wake of the EU referendum result.
1:09.3	But what would that mean for the pound in our pocket?
1:11.6	Well, speculation still abounds because, well, so much depends on what kind of a deal we make with the EU.
1:16.6	Will they budge?
1:17.6	First, we were clear that while Britain is leaving the European Union,
1:20.6	we are not turning our backs on Europe and they are not turning their backs on us.
1:24.6	There will be no single market la carte.
1:28.3	The trade options then, can we stay in the EEA?
1:31.3	It is fairly complex, but the aim with the EEA was to actually stay within the market,
1:36.3	have the protection of the EU.
1:38.3	For the countries that are operating within it, it seems to have worked fairly well.
1:42.3	Well, negotiations and politics aside,
1:44.6	we're going to be taking a whistle-stop tour
1:46.4	of how Brexit will affect your finances.
1:48.8	We take a look at the unknowns and the knowns,
	...

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