A straight forward question and of course,I mean it in relation to our economy.
It's in part prompted by Leo on Yatesy, this morning, talking about his private sector pension plan, where he said in 5 years time, wages will certainly have gone up.
I am not a catstrophist by nature, not at all, but reading the tea leaves, I cannot see Brexit working out well for us at all, though I respect the Britz and their Government in taking that decision. I think Trump will take his FDI lads back also.
We have an aging population, though not as far as other countries, though it will necessitate increasing health care spend to keep us at the level, where we are. It is of course also used as an unjustifiable excuse to destroy state pensions.
So in my opinion, we will be worse off 5-10 years down the road, or at least most of us will!
The post-referendum Brexit recession never materialised. Consumers have kept calm and carried on spending against the odds, and global growth and a resurgent eurozone are helping to buoy British manufacturers. Add the recovery in the global economy to the mix and Britain could find that a rising tide lifts all boats, no matter how battered they may be.
The impact from sterling’s rapid devaluation is gradually being washed out of the system though, and the Bank of England reckons inflation probably peaked just above 3% in the final months of 2017 and is on track to fall in the coming months. Interest rates will stay low. At most, interest rates may be nudged higher from 0.50% to 0.75%.
The world economy is growing fast and according to a respected UK economic forecaster that is driving an improved British growth forecast. A leading economic forecaster says the UK economy will recover well in 2018, thanks to a strong global economy and a relative easing of concerns over Brexit. The National Institute of Economic and Social Research (NIESR), Britain's oldest independent economic research institute, has revised its growth forecast upwards for the UK economy and is now predicting GDP growth of 1.9 percent in both 2018 and 2019. The consultancy Capital Economics reckons growth could be as robust as 2.2% in 2018,
So, yes, Britain will be much better off in 5 years than they are now. Britain dodged a bullet when they voted to leave the EEU before it is swamped and conquered by illegal Muslim immigrants. Over the next 5 years, British voters will be lavishly rewarded for their brilliant Brexit vote. Likewise, the Americans are already reaping fabulous economic benefits from their brilliant election of President Donald Trump.
I agree with elidaholloman that things will be better for the UK 5 years from now. They seem to be doing great and things will probably get better over time. As to Trump’s election, yes this has brought economic benefits because he knows what needs to be done business wise. But, unfortunately he and his team have divided the US in two in a manner that I haven’t seen before. I think Trump should only be in charge of money and should leave someone in charge of everything else.