Brexit is now the elephant in the room that both Government and Major opposition refuse to mention. The effect of the divorce from the EU is now being felt right through the UK economy, from shortage of labour in the agricultural and hospitality industries, to lack of HGV drivers, leading to logistics problems leading to lack of food on supermarket shelves. There were many who saw this coming, except of course those that took us out of the EU, Customs Union and Single Market. The worst type of Brexit. The proponents of Brexit promised sunny uplands but it is worth listening to one of the few people who really understand the situation from an economic point of view.
Adam Posen is currently the President of the Peterson Institute for International Economics, the world’s leading non-partisan global economics think tank. He was also one of the policy makers at the Bank of England for three years.
He said in 2017 that it is the wrong decision for the UK, but they are entitled to it. And there are people who are going to be mugged by the reality of Brexit.
The UK economy is already suffering a negative supply shock. It means you are specifically ruining your competitiveness especially with your largest trading partner. It is a fact of life. Putting up trade barriers is bad for your economy. Brexit, the withdrawal from the EU is putting up a trade barrier. Full stop.
Get a cuppa, sit down and watch this.
Hard truth but one we need to hear.