There is no realistic possibility of Brexit resulting in a favourable outcome. Following Brexit, the living standards of the population will be lower. In addition, the capacity for government spending on public services will fall along with its capacity to invest. As a result, it is likely there would the continuation of current trends, where […]
No pointers to a successful Brexit
Nov 1st, 2016 by Tom O Leary.Brexiteers’ crowing over the latest GDP data and the decision by Nissan to invest further in its Sunderland plant is utterly foolish. The negative impact of the vote will take place primarily over the long run, will be felt in terms of trade and above all in investment, and will accelerate after Article 50 is […]
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Corbyn is right: Migrants don’t drive down wages
Oct 18th, 2016 by Tom O Leary.In his recent speech to Labour Party conference Jeremy Corbyn said, “It isn’t migrants that drive down wages, it’s exploitative employers and the politicians who deregulate the labour market and rip up trade union rights.” This is excellent and entirely correct. It is probably the best statement ever made by a Labour leader on this […]
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How leaving the single market will crash the economy
Oct 14th, 2016 by Tom O Leary.The British economy is extremely dependent on inflows of overseas capital. As a result, it is one of the last countries that should ever contemplate leaving the EU without a serious plan for reviving the economy with investment and trade. As we now know, no such plan exists, serious or otherwise. Instead the theme of […]
