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Brexit costs

by Geoff Abell on 24 November, 2016

brexit-change-to-net-borrowing-2016-11-obrsource: OBR

As you may well have seen, the new post-referendum Conservative government, after years of hardship to some caused by “austerity”, have decided to borrow £112 billion to finance the next 4.5 years of government.

Of this the OBR (The Office for Budget Responsibility), an independent and normally a careful organisation, has said that the lion’s share or £58.7 billion is a DIRECT result of us leaving the EU.   (Never mind the loss of trade and manufacturing.)  This is the equivalent of  £188 million a week.  This is the blue chunk in the graph above.

 

And what happened to the lie of £350 million being diverted into the NHS.  Even Farage admitted this wasn’t going to happen the day after the referendum.

Less friends in a hostile world.  More borrowing and poorer people.  Is this really what the Brexiteers wanted?  Sorry to get so political but this has very real consequences and it will mostly affect out children’s generation.

farage-and-golden-balls

   3 Comments

3 Responses

  1. Margaret Pickard says:

    The people who voted for Brexit. I do think, that there were people who just did not understand what an exit would entail in the final analysis, but here we are. Money is wasted giving too much to the top people in all areas of employment, money that such be put into the NHS.

    I am Sorry to see the country in such a crisis.

  2. Brian Bower says:

    I still cannot believe that we have left the EU & I totally blame the conservative government, in fact I sent an email to Wragg asking if he was going to resign as he did not represent the views of his constituents, so I feel the Liberals should fight for staying in the EU. It is completely wrong that such an important decision for our families is allowed to be carried on such a small majority, it should at least be based on a 2/3 majority to be carried.

    • Geoff Abell says:

      Thank you for this. You have a point there and constitutional amendments (of which this is one) often require 2/3 majority across democracies. Even the early dissolution of the 5-year parliament requires more than 50% of MPs’ votes.
      Our tenet is that we should retain as much as possible of the benefit of the union, and if the free market means retaining the 4 freedoms, that should be put to a vote too, rather than taking an isolationist stance.

      This change is more important than the temporary and temporal internal politics of the Conservative Party.

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