Damn us Remainers for expressing concerns based on factual evidence on the economic alarm bells ringing since the EU referendum.
We now have a pound sinking faster than Donald Trump’s election prospects, inward investment flatlining, a slump in the housing market, inflation concerns, increasing retail prices and tax revenue decline concerns as a result of Brexit. All of this is stacking up even before Article 50 has actually been triggered. Yet Brexiters bray at the Remainers for “talking the country down” – despite mounting evidence already pointing to the fact that the 17m people who voted for Brexit appear to have already voted our country down. “We want our country back”, “We voted our recession back” more-like.
It is hard economic facts based on severe warning signs in our economy. But let’s just ignore the experts and just say that remain supporters are “talking our country down”. FFS. This is a convenient and lazy excuse by Brexiters (despite the fact that many Brexiters pessimistically complained about the Britain’s membership of EU for 40 years).
If we head back into recession, it will have been caused by Brexit and the economic decline caused by Brexit.
This is multiplied by market concerns that the UK government have no coherent plan and already appear to be in over their heads with a set of very complex issues that may well be beyond their control.
Sir Richard Branson is urging the Westminster Government to clarify the UK’s trade relationship with the EU.
He warned: “It is vitally important that UK business has some idea of how it will be able to trade with its closest trading partners and not slip back to the time before the 1970s when the UK was restricted by high tariffs and taxes.”
Lloyds Banking Group, cited Brexit as it unveiled plans to axe about a further 3,000 jobs and close around 200 branches.
The pound has plummeted to its worst levels in over 168 years and is now the worst performing currency in the world.
Brexiteers want to go back to the good old days but surely going back to 1848 is a bit much.
We import more than we export, That is one of the main reasons behind our national debt increasing from £700billion to £1.6trillion since 2010. That is why the FTSE 100 is soaring – because it is largely comprised of overseas companies exploiting the collapse in the £.
A collapse in the pound is extremely worrying because of the simple laws of supply and demand. Britain supplies less than it demands. As we import more than we export, our weakened pound means that we are paying more on imported consumer purchases.
I have even heard Brexiters say that our exports are flying. Really? The gross figure is down & the net figure shows a loss.
In August 2016 (latest figures) the value of exports (EU and Non-EU) decreased to £23.3 billion, and imports (EU and Non-EU) increased to £41.4 billion, compared with last month. Consequently the UK is a net importer, with imports exceeding exports by £18.0 billion.
Unilever has increased food prices by 10% already.
The Treasury now estimate:-
£66bn annual loss of taxes
£20bn Brexit bill – unpaid UK budgets appropriations & pension liabilities in the EU.
£25bn cost of leaving EU customs union.
And that is before we consider the legal bill of Brexit and the loss of revenue through the loss of free trade agreements.
All of this is happening and we haven’t got to the point of triggering Article 50 – and with a set of hugely complex negotiations that could take years before uncertainty is resolved.
It isn’t “talking our country down” pessimism. It is pragmatism based on the reality of an utterly appalling decision by 17 million voters. Something that many Brexiters appear to lack right now.
The only thing in abundance within the minds of hard Brexiters is copious amounts of denial.