Wednesday 21 June 2017

THE QUEEN'S SPEECH

The Queen's speech will be given this morning with the government still not entirely sure of a majority but nonetheless we will perhaps learn more of what the government plans to try and get through this session. The Telegraph (HERE) claims she will ditch all "the policies that almost cost her the election". Of course, being The Telegraph the list does not include the main election losing policy which was of course, Brexit. 

We should find out what bills the PM is going to steer through both houses and these will include The Great Repeal Bill and quite a few other pieces of controversial legislation connected with Brexit. Many MPs are wary of granting ministers so-called Henry VIII powers that will allow them to change the law to overcome any problems converting EU law into British law. With a hung parliament and both chambers emboldened it will be an interesting session.

Yesterday Brexit was characterised for me by two things. Firstly, John Redwood the swivel eyed Vulcan and rabid anti-EU MP has a piece in The Guardian (HERE) claiming both the UK and the EU will benefit with us outside the EU, something that I have never seen written down by anyone and as far as I can see no sane person actually believes. The second is that, unfortunately for Mr Redwood, his article was overshadowed by the governor of the Bank of England, Mark Carney making a speech at The Mansion House in London (HERE) where he told us we will be worse off after Brexit.

Mr Carney said that “weaker real income growth [is] likely to accompany the transition to new trading arrangements with the EU”.

Given a choice between believing Mr Carney or Mr Redwood I think most people will take the word of the governor.

Update:  There are 8 bills connected with Brexit. These are:

  • The Repeal Bill
  • The Customs Bill
  • The Trade Bill
  • The Immigration Bill
  • The Fisheries Bill
  • The Agriculture Bill
  • The Nuclear Safeguards Bill
  • The International Sanctions Bill
These have all to be drafted, consulted on, prepared, debated (in both houses) and passed in the next eighteen months or so.  Good luck!