4 Comments

  1. Kevin Morrell

    This is a really well written piece and a good summary of a whole host of different issues. I would add for emphasis really some exclusively economic considerations (apologies for repetition).

    The damaging effects on business and the economic side to all of this, for instance: the £122 billion extra borrowing in Philip Hammond’s first statement the loss of our triple a credit rating and abandoning of economic policy of austerity which we suffered to keep and more recently huge corporate losses – Rolls-Royce writing off 4.4 billion because of currency shifts and the fear that our companies are cheaper because of the weakening pound making them vulnerable to take over.

    And, of course banks are already relocating staff, but this is not just a concern for the tertiary sector – one third of manufacturing companies are planning to reduce some of their operations in the UK and also 100,000 UK companies have registered in Ireland since Brexit.

    Another consequence of the rising pound is that goods will be more expensive in the coming year increasing inflation and reducing household income. There will be a multiplier effect as the price of petrol rises – all these things households are yet to experience because the 17% drop in sterling has been absorbed to date or at least the cost not yet been passed on.

  2. Michael Ramchand

    Excellent article. I’m bemused that the U.K. have not used immigration controls similar to Austria, and now more recently France, where local workers are protected. There are a large number of controls available within the EU, we simply chose not to implement them.

  3. Peter

    I agree with every point in this well written article. However there is a major obstacle to stopping this car crash from actually happening.
    Sadly those who have fallen in love with the bizarre idea that the UK can once again win back an Empire and rule the world, if only we could leave the evil corrupt EU, have stopped listening to any points of view that do not support their warped view of our future.
    Nothing seems to get through to them, facts are dismissed, common sense left the building months ago, and even some of those who say they voted Remain say they now support Leave as that is “the people’s will”.
    I used to think that sensible discussion would win many over but for some reason it’s having the opposite effect. Why?
    What on earth is there left that we can do?

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