On “Brexit”

So yesterday the UK voted  to leave the European Union. This is going to be a breakdown of the vote by constituency and also why I think the UK has f**ked itself over (do excuse the term).

So how does it work and why?

For those who do not know, the UK is broken up into 650 “Parliamentary Constituencys”. Basically, back in the days of yore, they took a map, did some maths and drew some lines. These constituencys are how the country votes in elections; a quick overview can be seen here (it refers to the 2015 general election).

So, lets look at the constituencys. Data is taken from the BBC.

If we look at the maps found here, we can see that Scotland, half of Northern Ireland and London are very much Pro EU. This is for two reasons. Firstly NI and Scotland get a lot of trade through the EU and as a result of Brexit, Scotland may split from the Union. London? Because of [a] Trade and [b] the fact Londoners generally are more accepting of  immigrants from the continent. This is why most of England and Wales (where they do not have that many immigrants from anywhere in the world) voted to leave. Why? Because Brexit has been fear-mongering and essentially scared them into thinking that we have little control because of the EU and that immigration is an issue.

Brexit – the effects

Well, in short, the UK is in a bad spot. In long:

The UK will suffer from (this is a summary, I am not doing another economics essay):

  • The inverse of SPICED (Strong Pound Imports Cheaper Exports Dearer) – the pounds value will fall. Oh wait, it already has, to $1.35, the lowest since 85. YAY.
  • Increased trade costs.
  • Increased mortgage costs (up to £1000 increase per mortgage)
  • NHS issues – funding will be shifted from paying for staff and better care to paying for the drugs we used to get cheaper from the EU.
  • Markets will lose value (wait, they already have. The FTSE 100 lost 8% this morning and somehow clawed back 4%, meaning its down by 4%. JOY).

Thats a small list. Just ask any economist about the effects of the EU on the UK. Anyway, in the words of Tom Scott, BAAAAIIIIIIIII!!!!!!!

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