Sunday 11 February 2018

BREXIT WILL DEFINE US FOR A GENERATION

Children born since 2016 will be living with Brexit in one way or another for the next twenty years or more. We will soon regard Brexit as a more permanent and defining thing than anyone would have thought possible when David Cameron announced the referendum in 2014. More than political leanings or even ethnic background. 

The reaction of the anti-EU press against George Soros or indeed anyone who might get in the way of the Brexit juggernaut is informative. Corbyn is under attack for even thinking about staying in the customs union (HERE). If we eventually get another referendum and win it, as I believe we will, The Telegraph, The Sun and The Daily Mail won't let it go. They will behave exactly as we have with the support of The Guardian, The Mirror and The Independent. In other words the arguments would just go on and on.

We need to dig in for a very long campaign. 

Because we are in the realms of speculation and emotion getting clarity about what life outside the EU means is always going to be hard. Even after Brexit it will be hard to define what we have lost. We get articles like this HERE claiming we would lose £252 billion over 15 years but the problem is we can't compare how much better off we are now after 40 years of EU membership with where we would have been out of it. So, we can't compare how much better off we will be if we stay in. It's all speculation.

Perhaps the ideal scenario is for the economy to take some very big hits very quickly that makes clear what the cost of being out of the single market and customs union actually is. However, I think the impact may be more gradual and therefore more difficult to pin on Brexit unequivocally. But there are signs of hope. 

Industry is finally becoming more assertive. The CBI and the BCC are pressing the government for a soft Brexit. Japan is making it's views known via the meeting last week between Mrs May and Japanese business leaders.

If Nissan or Airbus or some banks were to announce relocation plans in the next few months it might just persuade people that Brexit is not going to be all milk and honey. It will take something very significant and even then there will be a hardcore who would still leave the EU if Britain was turned into a wasteland.