teaBrexit chaos is where you can see all but the smartest Brexit. Jacob Rees-Mogg, one of Jacob Rees-Mogg’s, has had to delay further implementation of the tariff bureaucracy because of the damage he sees in front of him no less than the Brexit “opportunity” minister. I found myself doing. Rees-Mogg said any overhaul agreed to by the government “to get Brexit done” would be “self-harm” and add £1 billion to the already massive Brexit cost. No, I’m not crafting this.
There was another valuable example of the senseless government we have when Northern Ireland’s Secretary of State Conor Burns appeared on The Channel 4 News last wednesday.
Carrying a massive pile of documents desperately given him by a road transporter, he complained that this was the sort of form-filling truck driver he had to deal with in order to qualify for entry into Northern Ireland from Brexit Britain.
The minister seemed completely unaware that the chunk he was showing off was the result of his government’s Brexit policy. Like the Democrats, he was complaining about the Northern Ireland Protocol. Border controls were introduced between England and Northern Ireland under an agreement negotiated by Boris Johnson. The UK is not because of Brexit.
In Northern Ireland, Johnson’s attempt to return to another of his remarks could be in national and international news. But businesses across the country are also struggling with the excessive form-filling and additional costs of this government-initiated Brexit trade war.
To give you one example, the reader, Edward Fishlock, a wine merchant in Wadebridge, Cornwall, emailed a horrific description of the wasted time and additional costs of running his own business. He gets little valuable support from local (conservative) legislators. Brexit self-harm is happening all over the country.
Of course, the government blames the severe recovery of inflation and the detrimental impact on people’s spending power of world events out of control. But, as Adam Pose, an economist at the Peterson International Economics Institute in Washington, points out, the UK is particularly vulnerable to “external shocks.”
Brexit was accompanied by “erosion of confidence in the UK government to implement a disciplined economic policy”. The pound has once again become a weak currency in international markets. Since that referendum result, it has been devalued by about 12% compared to the average of other major currencies. According to International Monetary Fund (IMF) calculations, inflation is rising faster than its former EU partners. This year, the UK is projected at 7.4% and the Euro area at 5.3%. As Foregen puts it, the difference is “mostly due to the UK leaving the EU”.
I have dealt with many sterling crises over the years. It is important to distinguish the necessary correction when a currency loses competitiveness from a loss of confidence that initiates a downward spiral and an upward spiral in inflation.
Of course, there are clear solutions to both the Northern Ireland crisis and the pound crisis. The still self-proclaimed nation Britain could rejoin the single market. In some context, it’s worth remembering that Daniel, one of the most influential figures behind Brexit right now, said in 2015: “Nobody is talking about threatening our position in a single market.” Again, the founder of the referendum, James Goldsmith, was firmly convinced that, according to his biographer, he would remain in a single market. It’s a fun old world.
that much financial times Journalist Simon Kuper does a great job of explaining the vicious forces that culminated in Brexit in his book. Chums: How a small class of Oxford Tories took control of England. But it’s not just economic self-harm that suffers. Kuper makes an interesting comparison between pre-war and wartime Cambridge spies who acted for the Soviet Union and the Oxford Brexters. Putin wanted Brexit and the dissolution of the European Union the most. Fortunately, the Ukraine crisis appears to be having a beneficial effect on the EU. Of course, that’s not what he wanted.
He admits it’s not entirely fair to compare the Cambridge and Oxford sets, but Kuper says:
We can only hope. cloudsFrom Aristophanes: “Indicate how rarely this works/builds trust in criminal activity.”