Monday 26 June 2017

A TALE OF TWO COUNTRIES

Richard Tice is one of those disciples of Brexit. He might be described as the Brexiteer's Brexiteer which is why, on the first anniversary of the referendum, he felt the need to write a piece extolling the virtues of Brexit as if he was worried people may not properly appreciate what they are. While many commentators dwell on what the rest of the world thinks about us (by common consent, a laughing stock) Mr Tice is alone in telling us we can celebrate a year of economic success (HERE).

To describe this as a fantasy would be a kindness. It tells us much about what he reads and where he looks. He does not seem to realise we have dropped to the bottom of both the EU and G7 growth leagues. Nor does he notice the warnings from the CBI, EEF, SMMT, Airbus and Rolls Royce about the folly of giving up membership of the single market. Inflation overtaking wage growth in an economy heavily dependent on consumer spending slips under his radar. The savings rate is now the lowest since records began, but in Ticeworld all is well apparently. He says the list of economic successes and corporate good news is so long we have taken it for granted, become complacent.

The only cloud on the horizon is that he expects a "pause" of confidence of business to invest and consumers to spend that we must "interpret and explain" for which you can read try and pull the wool over People's eyes. If he and his ilk succeed the people will only have themselves to blame.

Meanwhile Business Insider (HERE) has an article with the title - Brexit one year on proves it has been a diabolical and costly waste of time, to give the other and more realistic side of the argument.