Farron: May’s Hard Brexit “means disaster for British jobs, businesses and our economy”

Tim Farron has commented on Theresa May’s Conservative conference speech:

Theresa May has just confirmed that we are going for a Hard Brexit. This means no single market for Britain.

This means disaster for British jobs, businesses and our economy. The Lib Dems are now the only party fighting for Britain’s membership of the Single Market.

The Conservatives have lost the right to call themselves the party of business. The Liberal Democrats are the only free market, free trade, pro-business party now.

Nigel Farage’s obsession has officially become government policy.

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46 Comments

  • I’m sure we’ll get by just fine.

  • Farron is right, the Conservatives are taking the worst possible approach to Brexit and look set to cause the maximum possible damage to British exporters and stir up anti-immigrant feelings. What a truly toxic combination.

  • Colin Smith 2nd Oct '16 - 10:39pm

    Goodbye jobs, the value of sterling and future pensions.

  • May is allowing the obsession of the Conservative party and the Conservative press with immigration – which as Home Secretary she fuelled – to trump all other considerations.

    If she continues in this course the British economy will be wrecked and the Conservative Party will be finished as an electoral force.

    I’m not sure that the latter is worth the former.

  • Barry Snelson 2nd Oct '16 - 11:31pm

    Britain leaves Europe and manufacturing leaves Britain. This ends with an impoverished nation begging the IMF for support.

  • Theresa May is behaving as if she is quite literally mad. Are the sane Tories really so supine that they are going to make no attempt to stop her? The City, big business and most crucially the Americans will be extremely alarmed. If Parliament doesn’t assert its authority fast, Britain is heading for the plughole.

  • Peter Watson 3rd Oct '16 - 12:07am

    “The Liberal Democrats are the only free market, free trade, pro-business party now.”
    Are the Liberal Democrats a free market party?

  • crewegwyn
    “I’m sure we’ll get by just fine.”
    Selling foodstuffs to Asia!

  • Yesterday I was talking to an Italian friend who has lived in Asia for many years. He works for an Italian company that makes textile machinery. In Britain such an industry (along with many others) has gone. Remember Cotton was once King in Britain. This talk of trading with the world is hot air. There isn’t much left to trade with.

  • Yet again a Conservative Prime Minister has put the interests of the Party above those of the country. Enjoy the brief time we have left in the sunshine because the deluge is coming. In years to come people will look back on the first two decades of the twenty-first century and wonder how such a disaster was allowed to happen. I don’t suppose they will blame the Tories though.

  • How can you be so certain ‘hard Brexit means disaster for British jobs, business and our economy’?

    It appears this party has very limited vision and is unwilling to accept anything less than full access to the single market and free movement of people. You may be backing the wrong horse! Time to take off your rosy tinted EU glasses and look towards the horizon of hope and renewal. Face up to the truth. Britain has never been a full member of the club and has struggled to abide by the rules or accept the EU’s vision of a superstate. So glad we’re getting out and that Theresa May is looking to establish a strong negotiating position for our country. If you call that ‘hard Brexit’ …. bring it on!

  • Pat, You are Liam Fox and I claim my £10…..

    (for those old enough to have heard of Lobby Ludd/Chalkie White)

  • There has been very little study on why people voted to leave, so I did some asking around where i work. I know not very precise. However some who voted for the EEC in the 1970’s voted for that and not a political union, some voted for control to immigration and some voted as they felt that the EU was a busted organisation. I voted to remain but two of those answers i can sympathise with.

  • The worst thing about the whole debate within the conservative party for me is that free movement is constantly pictured as a bad thing which has to be curbed at all costs and Theresa May is prepared to even wreck the economy for it. Me and my family have hugely benefited from free movement and the areas that voted remain have on average a lot more immigrants. I believe free movement is one of the greatest achievements of the EU. It is now normal to have a Pole, a Latvian, a Hungarian, a German, a French as your colleague and friend. You get to know them as human beings not as foreigners and that makes you less likely to ever fight them in a war again or to discriminate against them. Brits who have made use of their right for free movement come back more tolerant and full of new ideas of how to improve Britain. The economy may one day recover but without free movement Britain will still be intellectually and spiritually so much poorer – it is just so sad!

    I believe the Lib Dems are right to provide a home to those who believe in free movement.
    In a democracy there should be a place for views of the opposition and as the country is split in remainers and leavers far more than it is by party lines, parties have to align themselves to one or the other belief – Theresa May has been clear now that the conservatives are to be firmly on the leave side and a lot of members of the conservative party will be quietly despairing and don’t feel represented by their own party anymore. Theresa May may be able to dictate to her party – but there should be a place for opposition without being shouted down as bad loosers – this is not a card game ! The actions of this government will change the life of everybody in the UK and beyond far more than any increase or decrease in taxes or spending the governments have been deciding on for a long time and then there should be no opposition allowed?

  • Barry Snelson 3rd Oct '16 - 9:42am

    Pat,
    I’ve just about had it with the “trust me everything is going to be wonderful, I’m sure of it!” brigade.
    Meanwhile, the Nissan CEO states the obvious. Europe is their biggest market and they can’t take a 10% increase in their prices. They will simply be forced to build cars inside the trade walls and run down Sunderland. This applies to them all, JLR, Toyota, Honda, Vauxhall etc Even Rolls-Royce is German owned. Only Morgan Cars of Great Malvern is still British. They employ 163 people.
    The preposterous logic from the Kippers is that if “they” impose a 10% tariff on “our” cars we will impose a 10% tariff on “theirs” and BMW won’t like that, oh no!.
    But they’re all “theirs”, for pity’s sake, we won’t have any cars to export, all will be imports (stand fast Morgan) and there will never be any more manufacturing investment in the UK, outside the tariff wall.
    That’s why there is a single market in the first place. To protect European manufacturers from “outsiders” which we now firmly are.

  • Free movement is a lovely thing if everyone has roughly the same standard of living across all countries, but when it is largely a matter of poorer countries talents moving to Western Europe and taking low paid jobs just to send money back home, it is not so great. Freedom of movement of course was always about freedom of jobs and labour, but it inherently implied parity of economies. It wasn’t really about people moving around because they felt like it. Enriching though that might be.

    I do think it would be a good idea for Lib Dems to at least try to see it from the point of view of people who are concerned about immigration in general and the impact on jobs and communities. Too many governments and politicians have closed their minds to this and that is why we have Brexit now. Please do not just see it from a liberal metropolitan point of view.

  • Like it or not, we are stuck with Brexit, so we have to make the very best of it. Europe is changing too. I think we ought to stop being doom merchants and focus all our energies on creating a very positive future outside the EU. Tim has a role in that too. He can’t judt keep knocking Brexit, because that ship has sailed. He has to take on the mantle if a statesman now, not just try to score tribal points all the time.

  • Jayne Mansfield 3rd Oct '16 - 9:56am

    @ Bele Weiss,
    I agree that we have benefitted from close proximity to those from a different European heritage. I have reason to be be grateful for the system that gave me a couple of my gorgeous bi-lingual, bi- cultural grandchildren – they are gifts that keep on giving.

    Nationalism is a mean, desiccated ideology.

  • Christopher Haigh 3rd Oct '16 - 9:59am

    It will be interesting to see the reaction to Theresa May’s authoritarian diktat at the Tory conference.

  • I am still amazed at the little Englander mentality of the majority of those who vote OUT….(Please don’t tell me that it wasn’t so, as the whole ‘Brexit’ campaign was about ‘taking back control, OUR money for NHS, stopping Immigration, etc. and how “We would be better able to trade with the rest of the world without the “EU millstone around our neck”)…
    Having lived and worked in France, Germany and Ireland I observed how, as nations, none of them have any problem with being French, German, Irish AND members of the EU….
    I can only assume that it is our insecurity as a nation that constantly requires us to tell everyone (and ourselves) how great a nation we were and can be again…

  • Theresa May is behaving as if she is quite literally mad. Are the sane Tories really so supine that they are going to make no attempt to stop her?

    I think Theresa May is either brilliant or mad but in a different way to which some may be implying. From her words she is appearing to honour the referendum result and has given her government’s Brexit boy’s a deadline. Unfortunately what she has omitted is a key caveat, namely: Brexit boy’s you need to have gained Parliaments approval to your plans before this date otherwise bye-bye your history and the UK will not be invoking Article 50…

    She has also set public expectations at the worst case, namely, hard Brexit, with some mitigation as to immediate effects on UK law that was influenced by the EU. So anything better can be trumpeted as a win even though practically any of the mainstream Brexit options represent a substantial degradation on our current situation. She has also caused UKIP further problems – if the Conservatives are going for hard Brexit, just what is the purpose of UKIP?

    We can only hope, that Theresa holds her nerve and calls it right in this high-stakes poker game…

    The question is whether, Tim really want’s Theresa to play a blinder or if he would much prefer her to fail and we actually do invoke Article 50. Currently, it would seem that Tim would much prefer to stand on the sidelines criticising Labour and Conservatives rather than engaging in a more constructive manner.

  • On Sunday I watched some of the Tory party conference and the air was full of confidence and hope for the future. Perhaps it’s no surprise they are so far ahead in the polls. Tim needs to tone it down a bit – not everything is a disaster – and as Roland said be “more constructive”.

  • Malc,
    That is what the Tories do! LibDem/Labour conferences are all about open discussion/dissent; Tory conferences are all about self congratulation and solidarity….

    As for ‘confidence’ I’m reminded of LDV 2010-13 when most of the articles/posts were about “How well we were doing”…..

  • The Brexiteers’ breezy assurances of ‘it will be all right on the night’ is delusional.

    They rely largely on the view that BMW et al. will not willingly relinquish a major export market. But this is a political matter so why do they think anyone will ask BMW, especially anyone sitting in Brussels where the voice of BMW is diluted by all sorts of other issues? Sure commercial considerations are important to governments but they are far from dominant, especially in the short term. German exporters took a huge hit when the EU went along with US sanctions against Russia so why do the Brexiteers suppose they will now call the shots, especially with Deutsche Bank rapidly tarnishing Germany’s reputation and likely also its influence?

    They promise we will be newly open to the world. What on earth does that mean? The UK is one of the most open and connected countries in the world. It’s true our export performance is appalling – but that’s another mater entirely and down to domestic failings, not the EU.

    We should press very clearly for the Brexiteers to put some meat on the bone, to provide specific draft deals etc., and not just sleepwalk into disaster in a haze of self-referential fantasies.

  • Richard Underhill 3rd Oct '16 - 12:39pm

    If Theresa May wants to decide this herself she is likely to have dissent from those in all parties who expect Parliament to decide.
    On the BBC TV Daily Politics Andrew Neil apologised for errors about House of Lords reform in 1905 – 1909, blaming faulty research. He usually relies on his own research, so he should probably look in the mirror. He named Liberal Party leaders Campbell-Bannerman, who died, and Asquith, but ignored Lloyd-George who was Chancellor and said that the Lords was flooded with new Peers, which it was not, the Peers divided into those who would die in a ditch opposing increased expenditure, but were defeated by votes in the Lords and conceded. The death of King Edward VII was also relevant, two general elections in 1910 and the pragmatism of King George V.
    Andrew Neil then got it seriously wrong again and again. He should read the account written by Roy Jenkins.

  • David Allen 3rd Oct '16 - 1:02pm

    So there we have it. Theresa May has set course for a hard Brexit in early 2019, followed by a year of trading under WTO rules only, and a mad and unsuccessful scramble by British negotiators to negotiate new trade agreements with the EU and others in a far shorter timescale than anyone has ever achieved before. After a year of this chaos, and a probable UK-led world recession and bankruptcy, Theresa will then face the 2020 election.

    Liberal Democrats, if they are wise, will have stuck steadfastly to their guns and maintained that hard Brexit would be a national disaster. By 2020, if May sticks to her plans, we shall have the proof of that. We had better start thinking about how we can then lead the country, perhaps heading a Coalition with junior partner/s and outside technocrats who can help us restore sanity. Because if all this comes to pass, then we shall be flooded with votes, like it or not!

    Phyllis says “Tim … can’t just keep knocking Brexit, because that ship has sailed.” I disagree. The best way to force May to change her plans, and either soften Brexit or postpone it into the very long grass, will be to keep on knocking Brexit very hard, and thereby create a real threat to Conservative domination. That will be listened to. Gentle words about “a positive future outside the EU” will not.

  • William Ross 3rd Oct '16 - 2:52pm

    I never cease to be amazed at the nonsense spouted by Tim Farron. I campaigned for Leave and voted Leave. Leave means very simple fundamental things: exit from the EU Treaties; no more Brussels law; the supremacy of UK law; no more of our money to Brussels; and an end to the free movement of people. Britain must again be an “independent sovereign nation” and we will take back control. What part of “Leave ” don`t you understand?

    I applaud Theresa May`s speech yesterday but it was not surprising. Anything else would have betrayed the vote of 23 June.

    I may say that one of the worst things about Remain`s sorry campaign was that they totally failed to explain why leaving the EU would have severe economic results. There is still no such explanation from Tim Farron. Just the same old whingeing by a defeated elitist.

  • William Ross 3rd Oct ’16 – 2:52pm….I may say that one of the worst things about Remain`s sorry campaign was that they totally failed to explain why leaving the EU would have severe economic results. There is still no such explanation from Tim Farron. Just the same old whingeing by a defeated elitist….

    Were you living in a cave during the campaign….Business leaders, at home and abroad, explained it over and over again…The only response from Johnson, Gove, Farage, etc. was that they were ‘experts’ and we shouldn’t take notice of ‘experts’…???????
    In the months since we had the same business people explaining the same thing (just last week motor manufacturers at the Paris show bemoaned the lack of interest in British made cars and blamed it on the Brexit vote)….

    ‘Brexiters’ repeating, “The experts don’t know anything; have faith in our politicians” doesn’t fill me with confidence…

  • Gordon suggests : “But this is a political matter…….”

    It’s precisely because the EU became a political matter, that we are Leaving.
    I voted for the EEC in 1975 because it was a trading and commercial relationship, but over 40 years those power mongering sociopaths turned it into a political entity. [An unwanted political entity!]. No voter,.. until,.. June 23rd, ever got the chance to vote on whether we were happy to pack our UK sovereignty into a box,. and ship it to an *undemocratic political entity*, which dishonestly, re-branded itself [without any voter mandate!], from a *trading EEC* to a *political EU*. We were asked on June the 23rd, and we said,..
    ‘NO Thanks,…. feel free to continue with your ever closer political union,.. but WE are getting off the bus at the next stop.?’

    ————
    “………so why do they think anyone will ask BMW,..”

    The idea that David Davies will be sitting across the table with 27,.. snarling upset European heads of state, is bonkers. Davies knows that deals brokered with Germany and France [in that order], is all he needs to resolve. The rest [25], will follow,.. and the reason they will follow is because they are tied into a political straightjacket,… with Germany picking up the welfare tab.
    BMW will already have been hammering on Merkel’s door, to make sure that a favourable German ~ UK arrangement is in place by 2019. And once a German trade deal is agreed, the rest of Europe will follow.

    ———–
    “They promise we will be newly open to the world. What on earth does that mean?”

    It means we can stop ‘herding 27 cats’.? We don’t have to ask the permission of 27 other countries, waiting 7+ years for their permission, before we strike a deal with anyone we choose.
    I think some folk on this thread, need to calm down before they cause themselves an aneurism.?

  • David Evershed 3rd Oct '16 - 3:52pm

    There is no such thing as membership of the single market, which the article says Lib Dems are fighting for.

    We can have access to the single market without being a member of the EU, as do the USA, Canada, Brazil, China, India and all other non EU countries thayt don’t have EU sanctions imposed on them.

  • William Ross 3rd Oct '16 - 4:10pm

    I was certainly not living in a cave during the campaign. The question is why exiting the Single Market and, if necessary, relying on WTO rules is so disastrous for the UK economy? The fact is that WTO tarrifs are low with the average being around 3 to 4%.Certainly cars are higher at 10% but we import many more cars from the EU than we export. Trade with Europe represents about 10% of our GDP and only a small percentage of this could be adversely affected by WTO tarrifs EVEN if we are to have any ( which we may not). It this analysis that was entirely lacking from Remain.

    Regarding experts it is important to focus on what Michael Gove actually said. He said that the British people were fed up of experts with acronyms bossing us around. He was quite right. Who would believe what the ex-French Finance minister who is head of the IMF says? Not even the IMF by its latest audit report. And how about the OECD? It just changed it tune.

    You`ll have had your recession then?

    There were plenty economic experts supportive of Brexit. They are being proven right on a weekly basis.

  • J Dunn et al. The notion that we will be able to freely trade with the EU post Brexit because BMW will insist upon it is patently false. Comparatively few cars are exported to the UK compared to what is sold to the EU and other countries, such as the fifty odd with who the EU has Trade Agreements. On the other hand Jaguar Land Rover is a growing threat to BMW sales in those markets and is one of the reasons we have recently become a net exporter of cars. So with the Jaguar Land Rover competition handicapped in those markets by a 10 or 12% post Brexit price hike that will undoubtedly benefit BMW, it is unlikely BMW will go running to Merkel asking for a free trade agreement with the UK, just to protect the comparatively small but costly [right hand drive modifications] UK market, no matter how much Farage tries to tell us that will be the case. The EU is flawed but it remains a significant economic force, or as Trump said, it is a rival the US economy and which is why he expressed pleasure in the Brexit vote. However what we should have done was engage with the EU to change it not abandon the game. There is an increasing imperative on the continent for change and to swim away just as the tide turns in our favour was a monumental stupidity born largely out of ignorance, intolerance, racism and xenophobia.
    So Tim Farron is right.

  • Barry Snelson 3rd Oct '16 - 4:33pm

    The Kippers are so passionate in their hate they dismiss the consequences.
    These are the CEO of Renault/Nissans own words “We would like to stay, our instincts are to stay, but we cannot if the conditions are not right.”
    Nissan could easily invest on the replacement Qashqai at their Flins plant in France. I am sure they will get plenty of encouragement from the French and the EU.
    This is going to be hundreds of thousands on JSA. Where are the replacement jobs coming from? Is Farage going to revive our manufacturing base? He couldn’t put a lid on a dustbin never mind design a market beating car.
    The reason Tim and the Remainers are angry is that we have put up a massive trade wall between us and our next door market of 500 million for some forlorn dream of replacing the Empire.
    Virtually all our industry is foreign owned. Of course it will relocate. What international trade platform will we link to? New Zealand and the Falkland Islands?
    Farron is right. Attack, attack and attack again. Just ignore the charge of talking the country down. The Kippers have done real damage, not us.

  • William Ross 3rd Oct '16 - 4:51pm

    Barry

    I am afraid you are delusional. The great majority of the UK`s business is conducted within the UK. Most of our international trade is done with non -EU countries, and this before a single new UK trade deal is even sniffed at! The EU share of our trade is steadily falling. Car manufacturing makes up a very small part of our economy. The welcome fall in the pound of 10% wipes out any WTO tariff of 10% at a stroke. WTO tariffs are very low and a UK -EU trade deal will reduce them further.

    If the Leave vote really was a disaster for the British economy industry would have reacted immediately. But quite the reverse has happened.

    I have no intention of seeking to resurrect empire. I am actually an SNP Leaver ( of whom there were nearly 500,000)

    It`s sad that Peter Cook says that Brexit was ” a monumental stupidity borne largely out of ignorance, intolerance, racism and xenophobia”. If this is Lib-Dem policy I honestly can`t see your connection with reality. You won`t even have 8 next time.

  • David Evershed
    In December 2013, the EU imposed anti-dumping and countervailing duties on crystalline silicon modules and cells originating or consigned from China, i.e. sanctions.

  • The Professor 3rd Oct '16 - 5:11pm

    @Barry Snelson
    The UK will negotiate on the basis that we as a country would like barrier free access to the EU Single Market i.e. no tariffs/quotas.

    If this is not agreeable then yes there will be trade barriers. But consider this – both cars imported into the UK from the EU and those exported from the UK to the EU will have tariffs.

    The UK government could use this cash generated from imports to either
    a) reduce business rates for car manufacturers
    b) subsidise said car manufacturers in other ways
    c) other options are also available to offset manufacturing firms increased costs.

    All we hear from the Lib Dems is all doom and gloom and we haven’t even started the talks yet!

    Be positive!
    One of the taxes I want to change is VAT so that VAT is applied only at the end of the consumer supply chain. Eliminating it from each stage of the chain will be a boon for business.

  • Barry Snelson 3rd Oct '16 - 6:24pm

    “The welcome fall in the pound of 10% wipes out any WTO tariff of 10% at a stroke.”
    If you ever set foot in a factory you will notice that our manufactures are made from imported energy, materials, components and sub assemblies. The days we dug up our own coal and iron ore to make steam engines and ships are as dead as these dreams of return of the “Empire”.

    “those exported from the UK ” – there won’t be any.

    “Be positive!” why? your reassurances have no value.

  • If the Leave vote really was a disaster for the British economy industry would have reacted immediately. But quite the reverse has happened.

    The leave vote and the way the government ran and responded to the referendum was a disaster; by not rushing into invoking Article 50 they did some minor mitigation to allow people to pause and catch their breathe.

    Now the government have made their move by confirming their intent to invoke Article 50 and when they will do it by, we can expect more businesses to put into effect their Brexit plans… Expect things to change rapidly in the coming months…

  • William Ross 4th Oct '16 - 9:17am

    Roland
    I am waiting with baited breath with the Brexit disaster. Could anyone in their right mind have considered that after 23 June Article 50 would never have been triggered? I hope you will be sharing your good news of a recession with your friends in the IMF, OECD, CBE etc. They need something to ease their embarrassment.

  • J Dunn – “It’s precisely because the EU became a political matter, that we are Leaving. I voted for the EEC in 1975 because it was a trading and commercial relationship…”

    But trade is ALWAYS a political matter; with much money and power at stake it could never be anything else. So, for instance, the powers that be in the EU consider that the free movement of goods, capital and labour are all essential elements of the free market with no ‘a la carte’ options available yet it’s the last of these that, more than any other single factor, won the election for LEAVE.

    This speaks to a fundamental design flaw in the EU. For us it was free movement of labour, for Greece and others it is movement of capital that has been so destructive. So, my view has always been that less is more, that details matter and that the EU should not attempt to dragoon members into shotgun marriages of ill-sorted partners. That means, among other things, that there should be easy ways to reverse mistakes and over-reachings plus respect for those that wanted to do so instead of the ratchet of ‘ever closer union’.

    Constitutional mechanisms could be devised to deliver that but unfortunately, the Lib Dems never wanted to know. The party establishment was always fully signed up to the ‘more is more’ and ‘don’t bother us with details – full speed to the Promised Land’ philosophy that has now blown up. Sadly, many ordinary people will be collateral damage in the explosion.

  • I’m not sure Theresa May has committed to a hard brexit.

    A soft brexit looks attractive
    https://2.bp.blogspot.com/-irMmB3SEfzg/V2lEQbLT0lI/AAAAAAAACC4/HXc8oRlA-LkoKYaKHHmjhGX3W78q4MSYACLcB/s1600/EFTA%2BEEA%2BScorecard.jpg

    There is of course the issue of free movement – but perhaps supply side measures such as reducing in-work benefits would mean fewer migrants. Free movement if you have skills, qualifications, references – and can afford to live in UK without council tax benefit, housing benefit or tax credits

  • @William Ross – It depends on your view of ‘disaster’; to some, it means a total meltdown to others a missed opportunity.

    So for example, all seems well in the financial sector, speak to people and they are confident they have jobs as business is still being conducted. However, start to dig and ask where the expansion is and you’ll find it is increasingly not in the UK, as companies establish key parts of the business in other EU countries. At some stage in the future, post-Brexit, we can expect a role reversal with the UK operation becoming subservient to the EU operation.

    Another example, ARM are currently remaining in the UK, partly because of the ecosystem that has established around it’s offices in Cambridge. However, with the change of owner, there is no reason for the profits attributable to ARM’s activities to be declared in the UK. So post-Brexit it will be feasible for Softbank to do like others and establish an HQ in Ireland and treat ARM UK as a cost centre with all profits remaining offshore…

    So no real recession, just no dividends accruing to the UK, which means the government will find it even harder to balance the books…

  • Pound falls 10% in Asian trading mystery……

    The ‘flash crash’ of sterling may have been a ‘fat finger’ error or automated selling in response to more warnings over Brexit
    The already battered pound was hit by a spate of mystery selling in Asian trading.
    A “fat finger” error by a trader or computerised chain reaction was thought responsible as the pound plunged to a new three-decade low during early trading in Asia on Friday – adding to the huge losses sterling had already suffered amid speculation that Britain is heading for a “hard Brexit”.

    The pound fell almost 10% at one point to US$1.1378, prompting confusion among traders who were struggling to identify any news or market event that could have been to blame. Later the currency recovered to around $1.2415

    “What we had- call it flash crash but the move of this magnitude really tells you how low the currency can really go,” said Naeem Aslam, chief market analyst of Think Markets, in a note, according to Bloomberg. “Hard Brexit has haunted the sterling.”

    ‘Leavers’….Welcome to the harsh real world

  • It doesn’t take a degree in economics to see that a hard Brexit will be a disaster for Uk businesses at least in the short term. After 9/11 a number of Uk businesses were hit and even ceased trading because of the temporary halt in day to day business with companies in New York alone. It is easy to envisage the even greater potential impact losing trade with other countries (if we leave the single market) would have on Uk businesses. Brexit supporters talk of more jobs for ‘British’ workers if there were less immigrants coming into the country but seem to forget the far greater devastation on UK companies and therefore jobs leaving will very likely cause.

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