Millions of British people woke-up poorer this morning after the value of the pound plummeted in reaction to the Brexit bill being passed by Parliament. 

The bill cleared both houses of Parliament shortly after 11pm last night – giving the Government authority to trigger Article 50 and formally begin the process of exiting the EU.

And here’s what happened just a few hours later…

That took the pound to its lowest value against the US dollar in eight weeks – since Theresa May announced plans for a hard Brexit outside the single market.

The pound is also down 0.6% against the euro, at €1.140 – a huge drop since peaking at €1.40 peak in 2015.

But it’s nothing compared to what’s happened to the pound since David Cameron first called the referendum…

 

Brexiteers have claimed it’s a positive for the UK economy because it means it’s cheaper to export British goods.

But for everyone else, it means higher prices in shops on imported goods like clothes, electrics and even food.

And as Britain Stronger In predicted it will mean holidays could cost hundreds of pounds more.

The even worse news is that economists say what happened today is “early warning” of what’s to come on March 28 when Theresa May is expected to formally trigger Article 50.

The Brexit-supporting Daily Express blamed the last crash in the pound on “parliamentarians’ attempts to subvert the democratic process and prevent Government from implementing the settled will of the people.”

Last night’s crash directly followed the Brexit bill being passed unamended by MPs or peers, so what’s the Brexiteers’ excuse today?

“Project fear” is turning into nightmare reality…

 

  1. I still dont understand why an advisory referendum has assumed the status of Holy Writ I really do not understand why no disagreement is now permitted! Good luck Brexiteers. If there is a plan Please share it with the rest of us!

  2. Chris, the most important issue to T M is not the unity of the United Kingdom but the unity of the Conservative Party, that is the ‘Holy Writ’, the party must be preserved at all costs.

  3. The Captain, Golgafrincham, Little England says:

    Don’t worry, the Passengers of the B Ark (May, Johnson, Davis, Fox) will make the Leaf the national currency.

  4. Sheila Robinson says:

    Theresa May and the Conservatives only care about their voters and remaining in power. They have calculated that affluent people who vote conservative will be the least affected by leaving the EU. The timetable for triggering Article 50 is all about the next General Election. As the unelected PM said yesterday ‘politics is not a game’. Isn’t it?

  5. well, I know of approx 3.5 million Women, their Families and friends who will not be voting for them in the next General Election – It is widely acknowledged that 1950s born women were NOT notified of the change in SPA from the 1995 Act. It is widely acknowledged that the 2011 Act was rushed through and poorly thought out. Why is it not widely acknowledged that something must be done to rectify the situation? TM spoke of ‘fairness’ and ‘ fighting injustice’ in her inaugural speech on taking office but the unfairness and injustice that has been visited on 50s born women has been totally ignored. More and more women are becoming aware of this situation – women with votes and women with families and friends with votes. These women will not be going away and it is time that the government amended the legislation to ensure a fair resolution.

  6. McJackWeasel says:

    I think the 52% should do the decent thing as it’s them that’s got us in this mess.
    € to £ was 1.31 on 22/06/16 it is now 1.14 – to compensate the 48% for this drop (which after all isn’t really their fault) how about the 52% get a rate of 95.6 when they go on their holidays to Europe.

  7. To be fair its recovered since…. now back at the 1.14ish highs! Although all those saying “see?! There was no economic catastrophy after the Brexit win” always ignore the drop in the value of the pound since this whole farce was put on the table.

  8. So a bunch of bankers sell all their British Pounds straight away to short the market, many follow suit thus reducing its value further. Now they’ve already bought their money back and stuffed away a few mil in profit for themselves, and you guys blame everyone else while picking up the peices.

  9. @Alex: What sort of fucking idiot are you? It’s all the bankers fault! The bankers didn’t vote for Brexit, they just did their job and made a profit from the stupidity of it.

  10. fuck the pound, i’d rather be poor than have a bit more cash and a bunch of moslems raping the children. remember it’s about the moslems screaming at 3 A.M. in the fucking morning, every day, day in and day out. THEY HAVE TO GO. WE CAN BE POOR FORVER, THEY GOT TO GO BYE BYE.

  11. Thats what I like to see , , , , educated and well informed debate. Did you manage to write all those big words yourself Anonymous ?

  12. Here in Thailand the pound has been round 43 baht for the last month when was the crash?
    OK I lose money living here but would gladly lose to get the UK away from the corrupt EU
    All you reminders are doom and gloom
    Let’s see in 3 years when the EU implodes

  13. Here in Thailand the pound has been round 43 baht for the last month when was the crash?
    OK I lose money living here but would gladly lose to get the UK away from the corrupt EU
    All you remoaners are doom and gloom
    Let’s see in 3 years when the EU implodes

  14. Bunch of crying babies the lot of you. The 52% represent a MAJORITY! just because you are not in that majority does not mean the rest of the UK are dim wits or ‘below the poverty line’. I’m sure I will lose a lot in the short term but its about the long term, please get off your high horses and realise that you are in a minority of the population that think that way, the rest of us are all happy to see the back of the corruption ridden EU. Grow a pair and plough through, it will be tough for everyone.

  15. Typical arrogant breaks it here”s response, a majority of the population didn’t vote for Brexit, only a majority of those that voted did. So they are in the minority of the population, and Dennis is typical, he doesn’t even live here but still thinks he has the right to screw things up for the rest of us while 16 and 17 year old who will be more affected didn’t have a vote!

  16. For those that cannot do the maths:
    27% of the population voted leave
    25% of the population voted remain
    The rest didn’t or couldn’t vote.
    The sample size is too small and the result too close to be indicative of “the will of the people” either way.

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