UK Voted to Leave the EU

[RWAP]

As you may have heard, the UK has now voted to leave the EU.

RWAP Software will continue to support the retro computer market wherever you are in the World, but there will be some undoubted impact on retro users in particular (mainly because of the fact that the traders are generally very small businesses who are not VAT registered).

There will now be a long period where the UK will have to try and negotiate new trade deals with every country in the world, but unfortunately, there will most assuredly be an impact on our customers around the world.

As a result of the referendum outcome, the pound has dropped dramatically in value, which does at least mean that overseas customers purchasing items from the UK traders will see lower prices for the time being. On the other hand, UK customers looking to purchase some of the excellent interfaces from the traders in Germany will see an increase in price.

In the longer term, at some point it does mean that those customers who are in the EU will find that they will have to pay VAT and handling fees on items they purchase from the UK (as with goods purchased from anywhere else outside of the EU). UK customers will also find that the UK will add VAT (or whatever tax it becomes) and handling fees added to goods purchased from EU traders.

This will have the result of an increase in the price you pay by up to 28% + around €10 (dependent on your country's VAT rate).

None of the free trade agreements will address this issue (as they only look at import tariffs which are charged on top of local taxes).

[PokeMon]

I think the decision made yesterday ends more in a loose-loose than a win-win situation for Great Britain and EU, but it is now like it is.
Not sure how fast will regulations change for custom fees and VAT, at least the currency exchange rates changed immediately and indicate how the financial world will react on this impact and what they think about will happen. The EUR lost itself as well to USD but only about 1/3 in comparison to GBP.

Maybe the european market will not be flooded with two many cheap cheap china parts which often are provided via sellers in GB - as least not so fast as goods from China directly have up to several weeks shipping time. It seems that it is easier to import goods from China to GB than EU mainland as the custom rules are looser interpreted than in the rest of the EU. This could be an advantage for other european companies to sell there products better against the chinese competitors. But this is only a guess. In general I agree that this will result in price increasings for GB citizens over the time.

[ranma_simon]

I think the decision made yesterday ends more in a loose-loose than a win-win situation for Great Britain and EU, but it is now like it is.
Not sure how fast will regulations change for custom fees and VAT, at least the currency exchange rates changed immediately and indicate how the financial world will react on this impact and what they think about will happen. The EUR lost itself as well to USD but only about 1/3 in comparison to GBP.

Maybe the european market will not be flooded with two many cheap cheap china parts which often are provided via sellers in GB - as least not so fast as goods from China directly have up to several weeks shipping time. It seems that it is easier to import goods from China to GB than EU mainland as the custom rules are looser interpreted than in the rest of the EU. This could be an advantage for other european companies to sell there products better against the chinese competitors. But this is only a guess. In general I agree that this will result in price increasings for GB citizens over the time.

UK will not be in very good position now In Europe

[mrtinb]

This forum should not turn into politics. My personal opinion is that Denmark (where I live) should join Britain and leave as well.

[1024MAK]

For anyone who thinks leaving the EU is what they want, before doing so, I strongly recommend waiting to see how well it goes for us in the U.K.

Mark

[RetroTechie]

As a result of the referendum outcome, the pound has dropped dramatically in value, (..)

That's only a short-term shock effect... As the underlying UK's economy is in (somewhat) reasonable shape, the £ will bounce back over time. Yes the UK economy will suffer I think, but it's not a banana republic's economy that will go into hyperinflation or crazy shit like that.

Secondly: first there must be an official written request to leave the EU. Then there will be negotiations about how exactly the UK will leave the EU. Those negotiations can (and probably will ) take up to 2 years. Implementation will come with long transition periods. And until it all goes into effect, the UK is still a full EU member state.

Bottom line: relax! There is still time to migrate to Scotland, or place your orders...

[1024MAK]

Bottom line: relax! There is still time to migrate to Scotland, or place your orders...

Can you travel? Fancy a new job? We have a nice vacancy, are you interested in becoming Prime Minster?

[amigaman07]

The Positives...

Save the Green Mushy Peas!

Put the Animal Fat back in UK Chocolate! Mmmm, better Flavour than Euro Vegi Fat!

Keep the POUND!

Home Rule, no more Euro Bosses!

RE: "relax! There is still time to migrate to Scotland"

Isn't Ireland also considering Re-Joining the Euro?

Darren

[1024MAK]

The Green Mushy Peas! currently cost more, as does a lot of other food. Sometimes 15% more.

The pound was never under any threat of being lost. However, it has lost a lot of its value on the international money markets after the result of the referendum (down 20% approx at one point) and has not recovered much since. As a result, goods and services that are imported into the U.K., or goods and services purchased that originated outside the U.K. now cost more than before the referendum. That includes food, cars, overseas holidays...

IMHO our U.K. Government has and does far more damage than the majority of EU parliament legislation.

I've been to Scotland

The Republic of Ireland is in the EU and uses the Euro as its currency. Northern Island is part of the U.K. and will leave the EU when the U.K. leaves. As part of the U.K. it uses the Pound. At the moment, the border between the two is effectively just a line on a map. There are no check points on the roads. No one knows what will happen after we leave. Before both countries were in the EU, it was treated as a full on international border. Main roads had border check points. Minor roads were blocked. No one wants to go back to having a full on international border, but no one appears to know (or won't say) what will happen in the future.

IMHO the U.K. Government has (and is) making a right pigs ear of it

Upside for anyone outside the U.K., if you buy items from the U.K. (like a ZX81) it will now cost you less money. So stop reading this and splash some cash at Sell My Retro

Mark

[1024MAK]

IMG_4560.JPG

Currency chart Pound vs Euro

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Image of the chart taken from this web site today at 11:25.

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Currency chart Pound vs US$

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http://www.xe.com/currencycharts/?from= ... SD&view=1Y

Mark