Brexit Article by Robert Courts (Debate)

Wed 24 Apr 2019, 14:36

I do not support the Tories or Courts but his article makes more sense than Corbyn's fence sitting and Cable's indicative vote abstentions.

As some one who voted remain I acknowledge that 'maybe' he has a point that his responsibility as an MP is to represent the 17m majority who voted to leave!

MPs of all views have created a 'limbo' which many serious commentators believe will bring serious problems as per the abbreviated article below

Brace yourself for a Remain recession- Be careful what you wish for

Britain is staying in the EU until at least October – maybe forever. That spells economic disaster.

The economic consequences of Bremain

First, and admittedly this is only a short-term impact, any stockpiling in advance of Brexit will now be unwound. As that unwinds, it will depress growth.

Next, and this is more important, the uncertainty will be prolonged. If we had left, it is likely the issue would have been buried for a long time. The country could have gone back to discussing housing, health, education, transport, taxes, competitiveness, and all the other things that probably matter a lot more.

Thirdly, watch out for a rise in interest rates. The threat of a chaotic Brexit has unquestionably persuaded the Bank of England to keep interest rates at close to record lows for far longer than it otherwise would have done. With record employment and rising wages, and with leaving the EU off the table for the moment, it is hard to see any reason why rates should not be normalised. Expect them to start climbing to at least 2%. That will hit growth.

Finally, with a diminished British voice, the EU is already moving in a far more statist, highly regulated direction.

Despite all the warnings, voting to leave the EU didn’t do the country any harm. It is unlikely that actually getting out, even without a deal, would have done anything more than short-term damage either. There might have been some disruption, but it would have sorted itself out very quickly. But staying in as a disgruntled, semi-detached member almost certainly will hurt our economy – and a Remain recession may be just around the corner.