Friday, 17 January 2025

Time To Reverse Brexit

The British economy is suffering with the Office for National Statistics, using HMRC records, showing the UK economy has effectively flat lined, fluctuating between 0.5% and -1% for the past 12 months but what is to blame for such a series of awful results?
Researchers at the London School of Economics point towards the damage from Brexit to trade links with the EU which cost the UK £27bn since 2021 when Britain left the Bloc fully with disastrous trade barriers for small businesses which forced 16,400 businesses to stop trading with EU nations.
The Centre for Economic Performance looked at 100,000 firms and found that total British goods exports had fallen by 6.4% and imports by 3.1% and the Office for Budget Responsibility (OBR) has forecast that the UK will suffer a 15% slump in trade, leading to a 4% reduction in national income or an estimated £100bn in lost output each year..
So five years since Brexit 'got done' the British public is still counting the cost so not so much of the promised new age of British sovereignty, a crackdown on migration (currently at the highest since records began) and the much-derided '£350m a week' that could be diverted from the EU back into the NHS.
A yougov poll found that 60% of Brits think that Brexit has been bad for the UK with just 12% believing it has gone well and former deputy prime minister Lord Heseltine said that nearly five years on: 'Brexit has been a historic disaster'.
Undoubtedly then Breixt has been a massive act of economic self harm mistake and the Labour Party are opening talks to repair some of the economic damage of Brexit and to 'reset the relationship with our European friends to strengthen ties, secure a broad-based security pact and tackle barriers to trade'.
It is right that our future prosperity depends on a much closer partnership with Europe and the Globes largest single market right on our doorstep so with the latest Yougov poll showing 55% regret leaving and 31% still thinking we did the right thing by leaving, we should look again at rejoining the EU.
With a 165 seat majority in the House of Commons, Keir Starmer should be able push through anything he wishes, including returning the UK to the EU but as it was a Democratic vote that took us out, it should be put to the public again with another referendum on rejoining and this time with cold, hard facts of how much the British economy has suffered and the Briexit Bonuses are rarer then hens teeth.
I cannot say for sure if the previous result was due to being lied to by Brexiteers like Boris Johnson and Nigel Farage who promised the sunny uplands or if it was just good old fashioned racism to kick out the foreigners (my money would be on this) but Brexit has been a disaster and promises to carry on being a disaster until it is sorted because the alternative is higher taxes or a return to the catastrophic days of austerity to balance the books because of the £100bn shortfall of this ruinous experiment.

17 comments:

Not really a blog said...

Why not realign with the US, canada, and mexico? Especially since the eu is on a long term decline...

Anonymous said...

Realign with US with the orange sex pest about to take over? Oh my.

Not really a blog said...

i was asking an economic question that goes far beyond trump's 4 year term in office... but if you want to think short term and ignore economics (which is odd since your post makes an economic argument), well that is an emotional reaction... perhaps you prefer to fall on your sword

Anonymous said...

The EU is literally on our doorstep and is the world’s largest single market with much higher standards than yours so why would we even consider joining up with you when we can rejoin with them and all the benefits and not have to deal with the madness and chaos you have rumbling your way.

Not really a blog said...

really, your market is bigger than china or india? hmmm
which standards are higher? the one where eu nations get fuel from russia? that kind of standard?

you do have one good point, though you don't know it. if you join up with the US, since the uk has become a secondary power, the uk would have very little negotiation leverage.

so yeah, at least the uk has some leverage with the other inferior economies in the eu.

having less federal regulation will create the chaos of innovation and growth...

Anonymous said...

Single market, you obviously need to Google that to get an explanation.

You missed the big discussion about not dropping the standards to do deal? Maybe that didn’t report that on Fox News. Google that also as you are there.

Really Quentin, pay attention because I don’t pretend to know anything about these things are you are desperate to make me think you do. Poor showing even with your low bar.

Not really a blog said...

Is India more than one single market? Is China more than one single market? How so?

Is it a market based on people, or on wealth? US and Americans have more wealth (money to spend) than all the eu combined. China and India each have far more people than the entire eu combined.

I don't care what your sources are. Perhaps you should get data from multiple sources, then add some thinking to the mix...

Not really a blog said...

i suppose it does make sense for the uk to be a big fish in a little pond instead of a small fish in a big pond... keep that sense of superiority

Anonymous said...

So you didn’t Google it then. Maybe get a child to help you if you are struggling.

Not really a blog said...

maybe you could stop being a child with personal attacks when i disagree with you.

i started this, and many other of my comments on your posts with a focus on logic and data and you almost always respond with a personal attack.

are you afraid you might learn something?
are you afraid i might be right?
are you afraid to admit when you are wrong?
why are you always such a nasty person?

Falling on a bruise said...

are (sic) you afraid you might learn something? Such as what a Single Market is. It's ok, i already know.

are (sic) you afraid i might be right? How can you be right when you don't even understand the concept i am talking about?

are (sic) you afraid to admit when you are wrong? But i'm not wrong, you are so what is there to be afraid of?

why (sic) are you always such a nasty person? Me knowing more about 'your area' than you hit you in the ego did it?

Not really a blog said...

https://en.wikipedia.org/wiki/List_of_largest_consumer_markets

the only sources that show the eu as the "biggest market" are eu sources and they use selective criteria that enable justification of such claims. by people, the eu is not biggest. by GDP eu is not biggest.

99% of my nasty comments are a reply to a nasty comment from you... i try to insert data and logic. you seemingly prefer to categorize people that disagree with you with a nasty label...



Falling on a bruise said...

If i has said biggest market or biggest by GDP you would be right but i said 'world’s largest single market'. Try googling that again.

Not really a blog said...

like i said, selective criteria, aka word salad to make something sound like it is more than it really is...

ok ms economic genius, how do you define a "single market" without considering gdp or population? is that the number of entities in the market? if so, the the USA is bigger with 50 states...

so single biggest market is meaningless. i should have known you'd latch on to something useless.

but i will give you your due. you know more about an irrelevant economic attribute than me. congratulations for being irrelevant...

on a useful note, it looks like the 1.9 kg quality street candies we were given for christmas appear to be a year supply of sugar...





Anonymous said...

Google single market or stay ignorant on it, no matter to me as I already know what it is.

Not really a blog said...

i did google "single market". essentially the US is a single market, just between states instead of nations. California, Texas, and NY would all be top 10 economies if they were nations.

do you understand what it means?
do you understand it is a nice label but is irrelevant?

Not really a blog said...

funny, just read a couple dozen national economic forecasts for 2025. the only nations that mention "single market" are the eu nations. nobody else cares... ha ha, it seems "single market" is something eu economists use to convince themselves that they have something "special". we are a "single market", a "single market", a "single market"... keep saying it and maybe it will make a difference... "single market"...