9 July 2016

Brexit update for 9 July

Michael Gove dropped out, so it’s now Theresa May vs Andrea Leadsom to be the next UK Prime Minister. Both are committed to brexit, so barring some miracle, expect the process to begin this fall.

The British pound overtook the Argentinian peso to become the worst performing currency of 2016. Analysts are predicting it could reach dollar parity later this year.

Job advertisements dropped by 47% as companies froze UK hiring. The NHS is having problems, because drug prices are in Euro or dollars. Pity that £350m didn’t really exist, eh?

So, expect massive tax cuts to try to persuade companies not to move to Europe. When that fails, expect more austerity to try and make up for the lost tax revenue, with NHS services being slashed and privatized. Having created a crisis, the Conservative party are eager to exploit it.

Jonathan Lynn, writer of “Yes, Minister” offered his thoughts on brexit.

Elsewhere, a Romanian restaurant was firebombed and a Polish family was firebombed.

© mathew 2017