Austerity? You ain't seen nothing yet
So after months of Brexit negotiations we now know what Europe is offering. A 'transition period' finishing in 2020 when we officially leave.
During this period we pay all our dues and demands and comply to all European laws including any made during the transition period
We also comply with free movement of people and we comply with all trade rules which is exactly the same as when negotiations started. But there’s one crucial difference – we don’t get a say in any of the aforementioned in the European Parliament.
Lets all give the negotiators a clap.
So what happens in the run-up to 2020?
Well if you listen to the Brexiters we will have negotiated trade deals with the rest of the world to replace the 60 per cent loss of trade from leaving Europe.
Going on the record of the negotiators so far I don’t think so.
No what will happen in reality is many companies will relocate in Europe taking jobs and income with them (this has already started).
Britain’s credit rating will hit rock bottom and we all know the consequences of a bad credit score when you want a loan.
Then there’s the question of what happens after 2020.
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Well, if we want to trade with Europe (stay in the single market) we will get the same deal as Norway who trade with Europe but are not in the EU.
They pay £400 million a year for limited access to the market and must comply with all the EU rules including free movement of labour without a say in the EU decision making.
Norway’s population is about 5 million and they pay £400m. Britain’s population is about 65 million, so it follows we will be doing a lot more trade with the EU, so we would pay in a bit more. I’ll rephrase that a lot more.
At the risk of sounding like one of the old codgers in the Monty Python sketch I was brought up in the Sheffield in the early Fifties when this country was virtually bankrupt after the war and times were seriously rough and I’ve watched as Britain has prospered (slowly but surely with a few hiccups on the way) since we joined Europe in the Seventies.
So I can say to those affected by today’s austerity measures if we come out of Europe you ain’t seen nothing yet.
As for Theresa May who is well aware of the impending situation (a report out today shows there could be an 8 per cent drop in the economy as a result of Brexit ) should show some leadership and nail her colours to the mast and call another election, this time on the basis of abandoning Brexit altogether.
The people who were hoodwinked into siding with Buffoon Boris and his cronies and voted for Brexit are a lot more clued up now.
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