100 Reasons to be cheerful post the Brexit vote

Published Sep 30, 2016

Peter_3.jpgTo mark 100 days since the EU Referendum UKIP's Leader in the London Assembly Peter Whittle AM has produced a list of 100 reasons to be cheerful.

Peter Whittle said, “Some of the entries on my list are more light-hearted than others but they are all above all reasons to be cheerful post the historic Brexit vote.

"The list shows the full extent of the lies of Project Fear. It also shows how the British people knew their own minds and weren't going to be intimidated by vested interests masquerading as experts.

"Part of that Project Fear was the Mayor's claim that 500,000 jobs could be lost in London if the UK left the EU. It was a palpably ridiculous and reckless shock tactic which he should withdraw." 

Read the full list below (a list of sources can be found at the bottom of the page):

  1. The outcome of the Brexit Referendum could very likely to prove to be as significant and as beneficial to Europe as the fall of the Berlin Wall in 1989.

  2. And the benefits of Brexit won’t just be felt in the UK and Europe - many African countries may reap long-term economic and political benefits from Britain’s vote to leave the European Union.

  3. Project Fear’s apocalyptic claims turned out to be bunkum. We are not in the midst of World War Three.

  4. Western Civilization has not collapsed.

  5. And we are not experiencing a global Brexit recession.

  6. Each UK family is not £4,200 worse off.

  7. David Cameron, the leading cheerleader for Project Fear has stood down as Prime Minister.

  8. George Osborne another leading Project Fear advocate is no longer Chancellor of the Exchequer.

  9. As a result we have not had his “Punishment Budget.”

  10. By voting to leave on 23rd June, we have avoided being subsumed by the new European Union joint defence system, despite claims from Remainers during the referendum that there were absolutely no plans for an EU army.

  11. Despite what the former head of M&S Lord Stuart Rose, who chaired the Britain Stronger in Europe campaign said we have not retreated, withdrawn and become inward-looking.

  12. Leaving the European Union has liberated the UK to commence negotiating trade deals with the rest of the world.

  13. South Korea has formally requested the UK to start to commence negotiating a trade deal.

  14. Australia has called for a free trade deal with the UK as soon as possible.

  15. New Zealand offered to loan the UK their trade delegation, to assist the UK in negotiating new trade deals.

  16. Trade talks have already commenced with India (the world’s 7th richest country).

  17. Paul Ryan, Speaker of the US House of Representatives has called for Washington, in parallel with its negotiations with Europe, to pursue a separate free trade agreement with Britain, once it has formally separated from the European Union.

  18. President Barack Obama's contention that Britain will be at the "back of the queue" for trade talks now seems somewhat premature.[1]

  19. Brexit has wiped more than £1bn off the UK’s vast trade deficit. The Office for National Statistics reported the gap in August was £4.5billion, shrinking from £5.6billion before the referendum.

  20. There has been a jump in exports, up by £800million to £43.8billion post Brexit.[2]

  21. The first post-Brexit data on the UK jobs market caught economists by surprise, with the claimant count falling by 8,600 to 763,000 in July 2016, according to official figures.[3] 

  22. On 30 June, HSBC ruled out leaving London after Brexit vote[4]

  23. On 30 June, Barclays said that it has no plans to move jobs out of the UK and is "staying anchored in Great Britain".[5]

  24. On 11 July, Boeing announced it will build £100m aircraft facility in Moray[6]

  25. On 16 July, INEOS, one of the world’s largest chemical companies, announced that it was establishing a new office in London.”[7] 

  26. On 16 July, Recruitment specialist Reed Group said demand for new staff has flourished since the referendum, with 150,000 more jobs added to its website in the prior three weeks compared with the same period last year.[8]

  27. On 18 July it was reported that US retail bank Wells Fargo £300m had purchased a shiny new London HQ for £300 million.[9] 

  28. On 19 July, the International Monetary Fund - whose head Christine Lagarde warned back in May that the consequences of Brexit would be “pretty bad to very, very bad” - forecast UK growth in 2017 to be 1.3 per cent, the fastest in Europe ahead of both France and Germany.[10]

  29. On 20 July, Eliot Forster, chairman of MedCity, the body set up by Boris Johnson to promote the “golden triangle” of London, Oxford and Cambridge, said he was “bullish” that Britain could benefit from Brexit in the long term. [11 

  30. “All of the assets that existed pre-Brexit are here today. We continue to have world-leading institutions. We have a new opportunity to look at how we become more competitive than we have for the past few decades. Some of the choppiness of the water at the top of the surface is smoothed out over time. It’s the underlying currents that are more important.”- Eliot Forster, chairman of MedCity.[12]

  31. On 21 July, The Wall Street Journal reported: ‘London’s financial services industry could be boosted by the UK’s planned exit from the European Union, according to Luxembourg’s finance minister.[13]

  32. On 22 July, it was reported that the FTSE index of the UK’s top 100 companies had soared to an 11-month high, closing above the 6,700 mark for the first time since August.[14]

  33. On 27 July, it was announced that fast-food chain McDonald’s plans to create more than 5,000 new jobs in the UK by the end of 2017, in a vote of confidence in the economy after the EU referendum. The company will open 250 new restaurants, extend opening hours at existing sites and introduce new initiatives such as table service.[15]

  34. On 27 July, it was reported that GlaxoSmithKline is to invest £275m into its UK manufacturing sites, saying the country remains "an attractive location"[16]

  35. Drugs giant AstraZeneca followed suit and has announced plans to invest £330million in research and development saying that it is ‘hard to find a better place in the world’ to do science than Cambridge.[17]

  36. On 29 July it was reported that Britain's decision to leave the European Union is already generating signs of a boom in Chinese travellers who like to shop abroad.  Travel sites reported Chinese searches for UK holidays shooting up following the Referendum.[18]

  37. On 29 July 2016, the London Evening Standard reported: ‘London is enjoying a remarkable “Brexit boom” in tourism as visitors flock to the capital in record numbers.[19]

  38. On 2 August, the Daily Telegraph reported that Brexit presented “unprecedented” opportunities to seal trade deals that are beneficial to both the UK and foreign partners, according to the boss of Britain’s biggest car dealer. Britain leaving the EU and the time it will take to negotiate an exit offer massive advantages to the UK, he said.

  39. “We have got the opportunity to reset trading relations. We have knowledge of the terms of every trade deal the EU has as we are still part of that and that gives us a huge, huge advantage”- Pendragon chief executive Trevor Finn [20]

  40. On 8 August, the British Retail Consortium (BRC) said the jewellery and watches category of its monthly retail sales monitor had recorded its strongest growth since records began in November 2014. Other retailers are also benefiting from tourists visiting the UK.[21]

  41. Research from travel analytics firm ForwardKeys revealed flight bookings to the UK rose 7.1 per cent in the four weeks after the Referendum vote. [22]

  42. Meanwhile, like for like retail sales – in stores which had been open for more than a year – increased by 1.1 per cent compared to the same time in 2015, despite gloomy consumer confidence surveys in the weeks since the Brexit vote.[23]

  43. On 15 August, the Daily Express reported that Britain’s small businesses – the backbone of the UK economy – are flocking to take advantage of the opportunities offered by Brexit. [24]

  44. There has been a massive surge in funding enquiries from small and medium-sized companies determined to exploit the trading opportunities offered by the country’s withdrawal from a bureaucratic and competition-stifling EU. Requests for finance totalling more than £20m have been recorded since the beginning of August – exceeding £2m a day, figures from the National Association of Commercial Finance Brokers (NACFB) have shown. [25]

  45. The average size of business loans being requested has also been significantly higher than during any month last year, as businesses are showing a healthy appetite to borrow. The average loan wanted is £128,000; that’s compared to £73,000 in July and £94,000 in June, pre-Brexit.[26]

  46. On August 17 official statistics revealed that the number of people claiming jobless benefits plunged by 8,600 to 763,000 in the period after the historic vote between June and July. 

  47. Separate figures also showed that employment in the UK reached a record high of 31.8million in the three months running up to the vote. 

  48. Data from the Office for National Statistics showed the jobless total dropped by 52,000 to 1.64million in the three months to last June - the lowest for eight years. [27]

  49. Official data also showed that average earnings increased by 2.4% in the year to June, 0.1% up on the previous month.[28] 

  50. Cheaper mortgage deals began to appear on the market in the wake of the decision to leave the European Union in July, which are now at an all-time low.[29]

  51. On 26 August, The Independent reported: ‘UK consumer confidence rose the most in more than three years this month as the initial shock from the Brexit vote faded. An index of sentiment by YouGov and the Centre for Economics and Business Research jumped to 109.8 from 106.6 in July, which was a three-year low.’[30] 

  52. Fears that the UK would see a mass exodus of banks in the event of a “hard Brexit” have been downplayed by one of the world’s three big rating agencies in a report that says the impact on the City would be modest and manageable.[31]

  53. On 29 August, The Independent reported: ‘Britain can be more successful outside of the European Union, a former governor of the Bank of England has said.  Lord King of Lothbury also suggested a future decline in UK productivity could be a result of the Remain camp exaggerating the repercussions of the Brexit vote. [32]

  54.  “We are now in a better position to rebalance the UK economy” – said Lord King speaking to Central Banking magazine.[33]

  55. On 4 September 2016, the Daily Telegraph reported that two thirds of people believed Britain was on the right track following the Brexit vote and most believed that the British economy will do well next year. [34]  

  56. Research found that 59 per cent of people said the UK is moving in the right direction, including almost 30 per cent of those who voted to remain in the EU. [35]  

  57. The poll also showed that the majority of the 8,000 people asked were optimistic about Britain's future outside the union, despite fears that a vote to leave would cause economic uncertainty.[36] 

  58. On 5 September 2016, the Daily Telegraph reported: ‘The UK services sector rebounded sharply in August suggesting an imminent recession will be "avoided".[37] 

  59. On August 9, it was reported that a survey of retailers carried out after the EU referendum, showed that many are already reviewing how their supply chains operate, as a result of the vote to leave the EU. In a potentially positive sign for the British economy, a third of retailers (32%) predict that they will source more from the Uk, with only 12% expecting a reduction.[38]

  60. The Markit/CIPS Purchasing Managers' Index (PMI) for the services sector jumped to 52.9 in August from July's seven-year low of 47.4, its biggest monthly increase in 20 years and beating consensus forecasts of a reading of 50.[39] 

  61. For those who feared Armageddon after the Brexit vote, the recent economic news has been a pleasant surprise. Over the summer, high street activity was unexpectedly vigorous.[40]

  62. “Brexit provides a sea of opportunity to restore our coastal rights and give our industry a real chance to prosper once again. We will have the critical mass to control the bulk of fishing on the northern continental shelf, with some of the best fishing grounds in the world.”- Bertie Armstrong, chief executive of the Scottish Fishermen’s Federation (SFF), speaking ahead of the Scottish Parliament debate on Brexit. [41]

  63. On 14 September, it was reported that EDM, the global provider of training simulators to the civil aviation and defence sectors, is on target to grow revenues to £20m this year. The Manchester-headquartered company, which broke ground on the construction of a new £1.3m manufacturing facility, said it is seeing the benefits of the vote to leave the EU. [42]

  64. On 15 September, the Royal Institute of Chartered Surveyors reported that the UK’s housing market had stabilised after the initial shock of Brexit. [43]

  65. Looking long-term, the outlook is even better, with RICS members forecasting that house prices will increase 3.3 per cent a year for the next five years. The figures echoed the Nationwide House Price Index for August that found the average price of a home rose 0.6 per cent to £206,145.[44]

  66. On 15 September, the Bank of England released the minutes of its monetary Policy Committee Meeting on 14 September. They stated: ‘"The Committee expected some bounce-back in surveys of business and consumer sentiment following the sharp falls in the immediate aftermath of the vote to leave the European Union. Nevertheless, since the August Inflation Report, a number of indicators of near-term economic activity have been somewhat stronger than expected. The Committee now expect less of a slowing in UK GDP growth in the second half of 2016." - That's the closest you'll ever get from the BoE to them saying "Sorry".[45]

  67. Europe’s biggest flight booking website Opodo has stated that travel from the Continent to London was up by 42 per cent in the four weeks after the referendum.[46]

  68. On 21 September, The Times reported that a multibillion-dollar American healthcare company, Alnylam Pharmaceuticals is to open its European headquarters in the UK in a vote of confidence for Britain’s status as an international trade centre.[47]

  69. On 21 September, the Office of National Statistics broke ranks with the Bank of England and the OECD, reporting that Brexit has had no major impact on the economy.[48]

  70. On 22 September it was reported that there were further signs of a Brexit bounce in the economy as figures showed a robust performance from the manufacturing sector in September[49]

  71. On 22 September, the Evening Standard reported: ‘The UK car industry brushed off Brexit last month with its best August for vehicle manufacturing for 14 years.[50]

  72. Car production was up 9.1% year-on-year in August, the Society of Motor Manufacturers and Traders (SMMT) said. Year-to-date output rose 12% at more than 1.1 million units.[51]

  73. On 23 September Bulgari CEO Jean-Christophe Babin said Britain's vote to leave the EU is bringing more luxury buyers to London[52]

  74. On 23 September, the London Evening Standard reported that Credit Suisse admitted post-Brexit life for housebuilders isn’t quite as bad as they had feared as they reeled in their gloomy forecast.[53]

  75. City broker Liberum admitted trading had been “much better than we feared” after upbeat data on the UK economy and the housing sector, which has boosted housebuilders’ shares.

  76. On 23 September it was reported that there has been a Brexit boost to British tourism as visitors flock to UK. A whopping 3.8million tourists flocked to Britain - up 2% on July last year - spending £2.5billion.[54]

  77. On 25 September, the Daily Telegraph reported: ‘The UK's decision to leave the EU will not dent growth at all this year, according to economic forecasts compiled by the Treasury, in a complete reversal of the gloomy short term forecasts made after the EU referendum.[55]

  78. Panic has faded rapidly among the dozens of independent economists consulted by the Treasury as strong data in the three months since the vote reassured the analysts that any shock from the vote was far less severe than first feared. [56]

  79. Forecasts for 2016’s GDP growth had been chopped to 1.5pc immediately after the 23 June ballot, but economists have reversed those downgrades and now expect growth of 1.8pc - exactly the same as they predicted before the vote. [57]

  80. On 23 September, new research was published that suggested that hangover free booze and safer alternatives to cigarettes could be a legacy of post Brexit Britain.[58]

  81. On 25 September, City AM reported: ‘The Brexit vote has breathed so much life into the UK’s fine wine scene that it is beginning to drain the market of available stock, according to wine merchants BI. Though this might be better news for wine sellers than wine drinkers![59]

  82. On 26 September, Bloomberg reported that the City of London remained ahead of its closest competitor New York, as the world’s top global financial centre.[60]
  83. On 27 September, publisher Mathias Döpfner, chief executive of Axel Springer (one of Europe’s largest digital publishing houses) was quoted as stating that Britain would emerge from Brexit with a stronger economy and be better off than other EU countries within five years.[61] 

  84. On 27 September, the Daily Express reported that economists had finally accepted at that British business was surging ahead following the 23 June Brexit vote: ‘A monthly analysis of forecasts prepared for Chancellor Philip Hammond showed that dozens of independent experts believe national output will continue growing this year. On average, they expect growth to continue at exactly the same rate as forecast before the EU referendum. The verdict was a major reversal following earlier expectations that the country’s decision to leave the EU would deliver a massive shock to the economy. Instead, the data suggests that the historic vote had no significant impact on growth at all.[62]
  85. On 27 September, a report was published saying that London is the best city in the world for fostering fintech, ahead of New York, Silicon Valley and Hong Kong.[63]

  86. On 27 September, City AM noted that the UK has surged to seventh place in a highly-influential ranking of the world’s most competitive economies.[64]

  87. On 29 September, London’s position as Europe’s premier financial hub was hailed with the latest statistics on the UK’s dominant fund management industry showing London coming a strong 2nd to the US in terms of a home for financial assets. [65]

  88. The same data showed UK has more assets under management than France, Germany and Italy combined.[66]

  89.  On 29 September, Japanese car manufacturer Honda reaffirmed its commitment to the UK as a major manufacturing base, and said that Swindon-built Honda Civics would continue to be exported globally.[67]

  90. On 29, September the Daily Mail reported that the housing market is showing signs of a post-Brexit surge as mortgage approvals rise.[68]

  91.  On 29 September, it was reported that Apple is to create a stunning new London HQ at Battersea Power Station.[69]

  92. On 30 September, it was reported that British consumer morale had rocketed back to pre-Brexit levels in September, according to a survey, confounding expectations that the vote to leave the EU would wreak more lasting damage on Britons’ willingness to spend. Market research firm GfK’s gauge of consumer confidence suggests Britain has avoided a rapid slump. [70]  

  93. On 30 September, it was reported by The Independent that “The UK’s dominant services sector grew strongly in July according to the latest official data, confirming the impression that the economy has so far successfully brushed off the impact of the Brexit vote.”[71]

  94. A separate survey of businesses by Lloyds Bank has showed confidence levels increased by 8 points to 24pc in September amid a “significant increase” in economic optimism.[72] 

  95.  100 days after the referendum on the UK’s membership of the EU, London is still the centre of the financial world.

  96. London is still a great place in which to do business.

  97. London continues to be one of the world’s leading tourist hotspots.

  98. London is still the creative and cultural capital of Europe.

  99. London is now more open to the world than ever.

  100. …and London is still the greatest City in the world.









































































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