All of that no deal planning to convince the EU we're serious about leaving without a deal seems to be backfiring. The EU appear singularly unimpressed while the currency markets are in a muck sweat and traders are selling sterling like it's perishable goods looking a bit iffy. The latest ONS figures for the economy's second quarter haven't helped either. GDP shrank by 0.2%
This only spurred on the currency traders to more selling and last night the pound was another 1.1% down on the 'failing' euro, at about
"This is a challenging period across the global economy, with growth slowing in many countries. The government is determined to provide certainty to people and businesses on Brexit. That’s why we are clear that the UK is leaving the EU on 31 October."
But, as CityAM report, the chief economist at the British Chambers of Commerce says it is the effects of a no-deal Brexit that businesses fear! It's as if the people desperately concerned they might be hit by a tsunami will be reassured by being told they can relax because we definitely are going to be hit by a tsunami. Not only that, their own government has created the wall of water and is gleefully whipping it up even more.
The Times reports this morning that the government has drawn up a secret list of big British employers that are considered most at risk, with the worst affected expected to be in the construction and manufacturing sectors. The bailout plans, known as 'Operation Kingfisher' are to be discussed next week amid "growing concern that a no-deal Brexit could tip businesses that are 'otherwise fundamentally viable' into administration". Who needs competitors when you've got a government like this?
But, as CityAM report, the chief economist at the British Chambers of Commerce says it is the effects of a no-deal Brexit that businesses fear! It's as if the people desperately concerned they might be hit by a tsunami will be reassured by being told they can relax because we definitely are going to be hit by a tsunami. Not only that, their own government has created the wall of water and is gleefully whipping it up even more.
The Times reports this morning that the government has drawn up a secret list of big British employers that are considered most at risk, with the worst affected expected to be in the construction and manufacturing sectors. The bailout plans, known as 'Operation Kingfisher' are to be discussed next week amid "growing concern that a no-deal Brexit could tip businesses that are 'otherwise fundamentally viable' into administration". Who needs competitors when you've got a government like this?
To cap it all there was a major power failure in London and large parts of England and Wales last night just before the Friday peak and thousands of homes were cut off and rail passengers left stranded, some of them overnight.
With all this talk of food and medicine shortages we are starting to look like Venezuela.
With all this talk of food and medicine shortages we are starting to look like Venezuela.
I haven't covered polling very much of late, although I still monitor YouGov's polls asking: In hindsight was Britain right or wrong to vote to leave the EU? You can see the current state of play HERE.
The numbers have been virtually stuck since the last time I posted anything back in March when WRONG had an 8% lead. I assumed it would continue increasing but it narrowed slightly in May and is running at 6-7% lead for WRONG. A majority have not thought the decision was RIGHT in 71 polls going back to 17th January 2018 - and that was an an outlier. The one before that was in July 2017. So, in two years of polling, with 85 separate polls, just one showed a majority thought Brexit was the right decision.
Professor Sir John Curtice is quoted by the iNews, that he believes the Tories could win a majority if an election were held after November 1st:
“If they can wait until afterwards [October 31st] and they deliver Brexit, and the delivery of Brexit is seen to be successful, then so long as the remain vote remains divided then they should be able to squeeze the Brexit Party votes sufficiently that they can get a majority.”
There are some very big IFs there. Brexit, and the hardest Brexit of all, is now being pursued by this insane government who are prepared to spend whatever it takes and use any means necessary to get it, regardless of the damage to individuals, companies, the union, our economy and our reputation abroad. That the opposition isn't streets ahead is a damning indictment of Corbyn.
The government must be stopped and I suspect it will finally be the markets that will do it. As Mrs Thatcher famously once said, "You can't buck the markets".
Finally, Jonathan Freedland, the man who started The New European newspaper tweeted this on June 19th 2016:
Businessman Lance Forman says it won't be pound that collapses on Brexit, but the euro - which will mean lots of cheap holidays— Jonathan Freedland (@Freedland) June 19, 2016
Mr Forman is now a Brexit MEP for London. I assume he must have noticed the euro hasn't collapsed and his holidays are now ridiculously expensive.
On May 27th 2016 it was 1.31 =£1 so we've lost about 17.5% in three years. He had no idea what he was talking about then and has none now. Someone else pointed out (I've lost the tweet) that the Euro was at 1.66 in 2000 and I checked - they were right. Now it's at
