I work for a medium sided company and am on the senior management team. We had hedged our foreign currency until October. Now that is running out we are going to turn from a profit making organisation to a loss making one. We purchase a lot of raw materials in USD and Euros. As a result of this we are going to have to make redundancies Going into 2017. This will be along with price increases to our customers.

Trust me on this the pain has only just started for many companies or the average Joe. But it is going to get worse that's for sure. 2017 will be tough for many companies/people.

I am not trying to scare people, but that is the reality. We live in a world where international trading and forex is huge, the hit is inevitable. Freelander 2 LE Sport - Largo Grey
Nissan 350Z
Toyota MR2 Roadster

Sold - Alfa GTV 3.0 V6 - missed dearly

I voted out and I was expecting tough times in the short to medium term - more so when we do actually trigger article 50. Eventually things will settle down but I still think it's a price worth paying. Obviously certain members of the EU want to make an example of the UK to keep zee uzzerz in line but we've seen them off twice before and we'll do it again. Did we just roll over and give in in the past? No pain, no gain. Past: FL2 TD4 HSE Auto
Evoque SD4 Dynamic Lux Auto
Present: Audi A3 S Line.

pain no gain in my eyes, If you have a problem with the Germans ,think again you may need them to bail us out in 5 years


Leave the biggest free trade group in the world  At work
At home

"I can't always believe facts I read on the web" - Charles Dickens

winner by default of the tractor vs caravan race

Only time will tell. Past: FL2 TD4 HSE Auto
Evoque SD4 Dynamic Lux Auto
Present: Audi A3 S Line.

Steve D wrote:

I voted out and I was expecting tough times in the short to medium term - more so when we do actually trigger article 50. Eventually things will settle down but I still think it's a price worth paying. Obviously certain members of the EU want to make an example of the UK to keep zee uzzerz in line but we've seen them off twice before and we'll do it again. Did we just roll over and give in in the past? No pain, no gain.

There was another thread on here just after the actual referendum, when I had a massive rant and posted the longest post ever. I have got over that initial "despondency" now and it is all a matter of balance, but my personal and business opinion at the time was probably about 65% Remain and 35% Leave.

I run a manufacturing business which supplies the building industry. In the 3 months since the vote, our orders have reduced by over 20% compared to the previous 12 months, so we are starting to take the necessary steps to deal with that which will mean redundancies.
Most of the materials we use are either priced in USD or are imported from the EU and although it hasn't actually happened yet suppliers are talking about 15% increases next time

Bear in mind that you won't hear about this "on the news" for at least another 6 months as data is collected retrospectively. What monkeybrain and I are providing is data direct from the sharp end

The £ is down because of uncertainty about what will happen in the UK over the next 2 years or so
The stock market, house prices and other assets are up because a) the £ is down b) interest rates are effectively 0% c) The bank of England is pumping cheap money into the economy..........there is a lot of money out there looking for a home!!

yes there are potential opportunities for us with exports and winning business that was previously imported into the UK, but as we can expect a surge in inflation in about 6 - 12 months time, the advantage is only temporary

Anyway, we are where we are and will just have to get on with it, but I found it just about as disappointing to hear someone on this forum make reference to Germany, two World Wars and how GREAT we were then......as I was watching the Trump/Clinton TV debate the other night.........Scary

As I said, only time will tell. I'm taking a long term view - ten years perhaps, not just looking at the short term hit to my own personal pocket. How do you know what the long term holds?

Anyway, it's not a slanging thread, just an opinion and in the absence of any crystal ball, all we are putting is our opinions and mine is just as valid as yours. Beruhige!  Past: FL2 TD4 HSE Auto
Evoque SD4 Dynamic Lux Auto
Present: Audi A3 S Line.

For all those who voted Leave because of too much immigration whose myopic view ingnored the obvious fact that a free trade deal would be linked to free movement, please note that the Prime Minister, Theresa May, has been snubbed by the Indian government who demand that any trade deal with India is linked to a far greater ease of movement for Indians wishing to come to the UK; indeed, various restrictions have already been lifted. Just wondering how long it will take for the flood gates to be fully opened - ditto China, ditto Vietnam, ditto anywhere else with a growing economy.

J

In that case..........



 Past: FL2 TD4 HSE Auto
Evoque SD4 Dynamic Lux Auto
Present: Audi A3 S Line.

Well I'm going to open a hornets nest here. There will be an election in May next year. The Tories expect to walk it. Labour will campaign on a ticket of staying in the EU. Even with unelectable Jeremy in the driving seat , he will form a government , Not in coalition with , but supported by SNP. Labour will gain votes from people who previously would not touch them with a barge pole who see it as the only way to avoid 10 years of misery. The new government will cancel the " divorce" . The Tories will welcome this as it digs them out of a hole.

Discuss  2009 GS Auto Zermatt Silver - Sold June 21 after 10 years of ownership

2016 Subaru Outback SE 2.0 diesel SE Premium Lineartronic Sold 2024 after 8 years and 80k miles . Best Car I ever owned !

2023 Toyota Hilux invincible X 2.8 Auto .

SNP are a spent force, people are starting to see that they talk BS , wee fat eck lost his seat in Aberdeen last week .. wee nippy just lost a £10b deal with the Chinese.. but it wasn't her fault , it was everyone else's. So don't think the SNP will help labour. Do it now ! Your a long time dead !!

I'm confident that the divorce will be declared by April 2017 - conversely should this not be allowed to happen there will be a snap election with a major shift to the right. The labour strongholds of the North will turn purple with an exodus to UKIP.

SNP is a busted flush headed by an articulate harpy but no amount of rhetoric from her will cover up the cracks which are rapidly becoming yawning chasms. MY 09 GS manual in Lago Grey, Wood Co arm rest and side bumper strips - now sold.

MY 15 SD4 SE Auto Orkney Grey with colour coded Bumper Door Mouldings

Steve D wrote:

but I still think it's a price worth paying.

I know what I have been paying for with the EU and I don't like it! Past: FL2 TD4 HSE Auto
Evoque SD4 Dynamic Lux Auto
Present: Audi A3 S Line.

Quote:

I know what I have been paying for with the EU and I don't like it!