Non EU (Photo credit: Wikipedia)
Now we are told about the possibility of an “emergency budget” following a Brexit vote in this piece by the Guardian from Dr Alf. To begin with, there is a two-year transition period during which orderly negotiations are going to have to take place with competent and aggressive negotiators taking the lead not limp wristed and cowardly Ministers and civil servants who have forgotten where this country’s interests lie.
So nothing will change immediately and there is no need for an emergency budget unless the Government has been lying about the state of the nation’s finances.
We buy 10 times as much from the EU as it buys from us and what little foreign exchange we earn from exports to the EU are largely to the Irish Republic. We lose more than we make because of the Corporation tax losses via the Dublin Financial District so we have tremendous bargaining leverage which so far we seem afraid to use.
Following Remain, the likely outcome we can expect announcements on the EU Army, increased budget contributions, and a £6.1 billon GBP deal on migration with Africa. The poor, the disaffected and the marginalised are in for a rude awakening and the housing crisis will boil over into civil unrest once the true extent of additional immigration and related infrastructure costs become known by 2025.