post brexit

[Stolly]

If they have been I must have missed them. According to the Treasury just before the referendum, we would already be going into recession in the quarter to September. Instead growth was 0.5%. In fact the only prediction I can think of so far from Project Fear that has come true is the weakening of the pound. And given our very large current account deficit that's largely a good thing.

A week pound improves exports but makes imports more expensive. Amongst other things, imports such as oil. Ignoring tariffs (which may come later) price increases directly cause inflation. Toblerone have already taken drastic action , VW have announced price increases, and Unilever are strongly hinting at them so this isn't something that might happen, its already happening. Inflation, unless earnings rise hand in hand with it, decreases demand for goods. Inflation also usually leads to interest rate rises and, at present, aren't we at largest ever personal borrowing levels at £1.5 trillion? The IFS have predicted a £25 billion additional borrowing requirement for the government in this parliament directly down to Brexit - that's £25 billion taking into account EU contribution savings! If that proves to be the case how is Brexit economically a good thing?

To have concerns about the scale of immigration is not racism. Of course in the case of a minority of people this will be a factor. But mass immigration does put pressure on infrastructure and when much of it is unskilled on the pay rates of some people. Even Lord Rose, the head of the Remain Campaign admitted that.

I'm not talking about concerns over immigration. Lots of people, brexiters and remainers, Germans, French, Dutch et al have concerns over that. I'm talking about out and out racism.