While it will be sometime until the full effects of Brexit become clear, a picture is now emerging of how people are hedging their bets and of rising prices. A summary of the main impacts are listed below:
- The average time to sell a property has increased significantly in London and the South East of England, while areas such as Manchester continue to do well (Source: The Times 17-2-2017).
- Properties in some areas are also now being offered at a discount in order to sell them (Source: The Times 17-2-2017). Property prices and trades are a key driver of the UK economy.
- Factory import prices rose at their fastest rate for many years – this relates to the cost of goods that are imported in order to manufacture goods in the UK.
- UK fuel prices rose 16.1% in January, in part due to the falling pound (Source: BBC).
- The falling pound (one perhaps good part of Brexit, as it was always overvalued) this means that UK exports are now far cheaper. This has led a boom in exports in 2016, but with access to the single market off the table it remains to be seen how long that will last. Also reports are now that exports are falling (Source: Guardian)
- Retail spending (a major part of the UK economy) has fallen at its highest rate since 2013. If this continues to contract then the UK could enter a recession. (Source: BBC).
- Overall inflation is now 1.8% up from the past and is set to hit in excess of 2.5%-4% according to predictions.
- Leading companies such as Apple and Microsoft have already started to indicate that prices will rise, with Microsoft increasing UK prices by 22%.
I will concede that a falling pound may in the long term be a good thing for British industry and jobs but this can only be the case if manufacturers are able to source their parts/inputs from other British companies. Otherwise costs will rise and may cancel out all or most of the competitive advantage which has been gained. A spike in import costs may also provide a required jolt to the general population as well the UK has never really had meaningful trade surpluses in over 30 years and constantly runs a trade and Government deficit worse than Greece.
- The UK Government has refused to increase NHS spending due to underlying economic issues, the net result is according to a recent report around 30,000 excess deaths in hospitals in 2015. The worst in 50 years (Source: The Mirror). Not the fault of Brexit but if funding continues to be relatively static or falls then these death rates will probably increase. As we have been warned that there will be bumps ahead in the economy we should expect further cuts, also if the cost of importing medicines and equipment rises it will only get worse. Add to that the desire to drive out foreigners who work in the NHS, again things are hardly going to get better.
- Britain still has an appalling fuel poverty death rate, with 40,000 people estimated to be dying each year due to not being able to pay their bills (Source: The Telegraph). As noted above fuel costs recently rose by 16.1%, so for many the choice of whether to heat their home is now a life or death decision.
It should be kept in mind that the Conservative Party is not averse to brutal “social cleansing” policies which suit their own electoral means. In the 1980s housing policy in Westminster City Council was used to increase the number of Conservative voters. In the end the then Leader, Dame Shirley Porter was fined 42m UKP. Despite being an heiress to the Tesco supermarket chain founders she claimed to have only 300,000 UKP in assets. In the end she agreed to pay 12.3m UKP in 2004. The money magically appeared or perhaps her wealth grew due to sound financial management during this period. (Sources: Wikipedia , Telegraph). The said Tory Council leader decided to move to Israel where she now lives. It should be noted similar policies have started to re-emerge in in London since 2010.
The Open Democracy website reports that the Electoral Commission is investigating Northern Ireland’s Democratic Unionist Party’s (DUP) ability to spend what appears to be in the region of £250k on pro-Brexit campaigns; given that in 2015 the party reported a total income of little more than £500k it is a surprisingly large amount. It is worth noting that unlike mainland-UK political parties, those based in Northern Ireland do not need to declare where there money came from. This is perhaps not a surprise given (that in the interests of fairness) the citizens good state of New York were famous for donating to charities connected to the IRA. I guess when all sides face potentially inconvenient stories about where their money came from it is best to pass a law which exempts all sides. The Democratic Unionist Party is of course no stranger to financial scandals, having had more than it’s fair share of issues with loans and dodgy environmental schemes in recent years. Indeed the Northern Irish Assembly recently collapsed due to corruption allegations surrounding the Democratic Unionists.
Over the weekend and since the first draft of this article was written the DUP have indicated that they have provided the names of the donors to the Electoral Commission but are so far refusing to say exactly who was kind enough to donate the funds. In a moment of honesty Aaron Banks who famously funded the unofficial Leave campaign alleges that the DUP had previously demanded money from his team in exchange for supporting them. Banks quite rightfully turned this down.
It is worth noting that many leading Brexit politicians also received money to support the leaving of the EU from wait for it, the campaigns themselves. So while the good people of UK who may have legitimately believed in leaving the EU donated some of their hard earned cash to these campaigns their money was being used to pay some of the largest blood sucking lying parasites in recent British political history.
The sources for Brexit funding and in-direct support have also come under increased scrutiny recently, especially given that many leading lights in the UK Conservative Party have accidentally taken money from Russian backed organisations (Source: The Times). Some have even gone as far as to be quite positive of Russia’s invasion of Crimea and have been talking up closer economic ties with Russia post-Brexit. Meanwhile across the English channel, Russian media outlets are now on the rise in France and are supporting Le Pen. Allegations have also been made of strong links between the BNP (British National Party) and leading Northern Irish Unionist politicians.
If the Democratic Unionist Party does not name who provided it’s funding for Brexit and indeed in general then we will only have to assume (perhaps wrongly) that it continues to receive funding from lapsed terrorists and Russia.
For more information on the DUP please check out the following links:
Guy Debord’s Cat (a blog)
For the record I have no opinion on whether Northern Ireland should be part of the UK or the Republic of Ireland. That is a decision for the people of Northern Ireland.
I have been using augmented reality headsets since about 2006 and whenever another one comes out I am excited and then later become disappointed. As was the case with the Epson BT-200 and Google Glass (not real augmented reality) both of which I have either owned or used. In most cases these devices either failed in terms of decent quality graphics, had a bad display (so any lighting washed out what was on display) or simply had no decent apps which showed off what you could do. Granted the Epson is a device from a few years ago but it could have been so much better, but sadly it wasn’t. So it was with a similar mindset that I tried HoloLens when we received it at work in December 2016. Since then we have demonstrated it to many members of the public (using the supplied game) and also built some early software on it for a large European project. So it is fair to say we have spent some time with it. With this in mind I have decided to put together a very quick list of good, bad and ugly points – these will no doubt grow with time. Sorry in advance to Epson, I know you have brought out better equipment but for now we only compared the HoloLens against your rather aging BT-200. I will however happily review your new augmented reality platforms if you send me some to try!
Ok, a clearly faked image but the quality of the display is impressive. Image creative commons: Microsoft.
- By far the best display I have seen on a “consumer” and publicly available AR system. The colours remain vivid even under light. See the faked image above, which perhaps a bit over the top is not as far from reality as it may seem.
- Gesture recognition, for example shooting the robots by pinching your fingers in the supplied game works almost perfectly – but you do need to get used to where to hold your hand.
- It is easy to use and works out of the box with almost no problem.
- Developing software in Unity is not difficult.
- Calibrating room layouts so that you can position and interact with content works very well and is extremely easy; by far the best I can come across so far.
- Audio is supplied through some built-in speakers which work very well and it is certainly better than having to use headphones – which would also block out the surrounding environment.
- Not very expensive for what you get! It is about €3500 so not too cheap either.
- Beats waving a phone or tablet around in order to experience augmented reality.
- The headset is a bit bulky, but it is early days! The Epson is smaller and lighter but worse in all other respects. That said it is not a major issue.
- Battery life can be a bit limiting, we got about 90 minutes to 2 hours out of it.
- Apparently there is a limit of 5 functioning headsets in any single space due to the underlying technologies used.
- We are told it is not ideal for outdoor usage, but as yet we have not tested this point.
- There are cheaper augmented reality options, but the view from the public when we let them try both was “no way Epson!”. HoloLens wins outright here even if it is far more expensive, sorry Epson BT-200. The public simply loved HoloLens.
- Unavoidable really but when you calibrate the device it is for you! While you can use the same calibration etc with other people it will not work as well. This is designed and supplied as a highly personal and monogamous piece of equipment. That said it works well enough across different people when shared if everyone is of a similar height. I need to investigate this issue more, so more details later.
- The field of view is simply too small for many tasks. For basic games where it does not matter it is perfectly ok but for the specific work we undertake it is not ideal. The result is that the area in which you can see augmentations is too small, which is not so good really if peripheral vision is an important part of your experiences or where really immersive experiences are involved.
This is not a headset it’s part of an eco-system
Microsoft is no namby-pamby start-up, in reality while you may buy HoloLens as it is cool, it does form part of Microsoft’s eco-system. This means over time I expect the whole system to be part of how you use your everyday applications, smart home devices (read Internet of Things) and in general interact with the world around you. Microsoft has a team of very talented research and development engineers so it is only a matter of time before they (hopefully) come out with some really killer applications for HoloLens!
Does the above review seem negative? Well it shouldn’t this is an excellent piece of kit and while there are some limitations Microsoft has done an excellent job. I would say it is by far their best product in years and I don’t mean that as in everything else they did was bad. Rather this is just really cool! Even some of my more cynical colleagues were blown away by it!
In a desperate attempt to prevent the estimated loss of up to 45% of foreign direct investment (Source: London School of Economics) which goes to the financial services sector in the UK, the UK Government is to roll back legislation for money launderers, drug dealers, Middle Eastern Dictators and Russian Billionaires. Theresa May’s recent pledge on a low tax and dynamic finance sector can only mean one thing, more dodgy cash in the UK. Indeed the UK (including some dependencies) is responsible for 4 of the 15 worst money laundering areas in the World, so it already has form. Also many UK banks have been fined by the US for assisting in money laundering.
Capital inflows from illegal activities are nothing new, indeed during the 2008 banking crash the UN estimated that 350bn USD suddenly appeared in the world’s financial system. Much of it making it’s way through British territories and then on to London.
Middle Eastern states and Russian oligarchs have already been very successful in placing cash in the UK financial services sector and (usually) London based property schemes. Some are already believed to have seized on the opportunities that Brexit presents, namely the lack if oversight of where there money comes from. Meanwhile the legitimate operations of many UK financial institutions will simply move to more transparent counties such as Germany, France and Luxembourg. Putting Luxembourg and banking transparency together may sound a little odd, however over the last 10-11 years this tiny country (where I live) has significantly boosted its compliance worldwide with some very thorough “know your client” rules being put in place.
Responsibility for negotiating financial arrangements with non-EU countries will rest with The Disgraced Former Defence Secretary Dr Liam Fox. One should perhaps pay a little more attention to his register of members interests to see just who may wield influence in future.
Liam Fox. Set to appear on Robertsons Jam and Marmalade jars?
UK Trade and Investment has put jam and marmalade exports to France (so for the next two years) at the heart of it’s Brexit export strategy. The policy which will be personally overseen by The Disgraced Former Defence Secretary Dr Liam Fox and looks like a promising start to his probably short lived Ministerial career.
“UK companies should be aware that the quantities involved will be small at the very beginning.” (Source UKTI Website)
According to my own calculations, the UK could in theory replace the entire car industry with jam and marmalade exports. The UK exports around 16bn UKP of cars per year to the European Union. If we assume that these are high-end jam and marmalade products and will attract a price of around 2UKP per unit then the UK needs to export a mere 8bn jars to make up for potential loss of car exports. Assuming that all exports go to France as planned this would mean that each French resident would need to eat only 121 jars of British jam or marmalade per year to make up for the lack of car exports. Brexit supporter Marine Le Pen has already pledged to make it one of her policies should she win.
The UK of course is no stranger to controversies surrounding jam and marmalade. During the 80s and 90s Robertson’s marmalade attracted significant controversy by using Golliwog images on it jars. To be fair to Robertson’s they always insisted it was never intended to be racist and a Scottish Borders town paid a high price when a number of people dressed up as the marmalade character during a local parade. However, it clearly caused offence to some people either on jars or when discussed in the workplace. So it was really a good idea to get rid of it. One can only imagine that such images will make a comeback in Brexit Britain as it’s those who hate political correctness that won the referendum and are subsequently in charge. The question is will Robertson’s give The Disgraced Former Defence Secretary Dr Liam Fox the place he deserves on the jars?
At present the UK Government is believed to be in discussion with Nissan and Honda on upgrading their car plants to allow for the manufacturer of high-end jams and marmalades.
This rather sarcastic article aside. Any SME owner who has worked hard and not spent the afternoon at the golf course who manages to take advantage of this export opportunity should be rewarded for their efforts! But as The Disgraced Former Defence Secretary Dr Liam Fox said British business owners are all too fat and spend Friday afternoon on the golf course, so I am not overly optimistic. Anyway good luck we need all the exports we can get right now, so go for it jam makers! The UK is no stranger to jam and marmalade and I have to say does make some of the best stuff on earth!
Frankly if we can’t call The Disgraced Former Defence Secretary Dr Liam Fox an idiot it is simply political correctness gone mad.
Correction: I would like to thank Botty McBotface (Twitter: @hqua) for correcting my earlier description of Liam Fox. He should correctly be referred to as “The Disgraced Former Defence Secretary Dr Liam Fox” and not as earlier reported “Liam Fox”. Apologies for this factual inaccuracy.