Inflation numbers show why Tories do not want another election – Business Insider

This is a good read. Having called an election to increase her majority and her personal mandate heading into Brexit talks, May’s plan backfired spectacularly last week and now inflation numbers show why Tories do not want another election

Source: Inflation numbers show why Tories do not want another election – Business Insider

Let’s recap on the strategic highlights of the Cameron/May years:

  • Austerity
  • Brexit

The pain of austerity in the earlier years impacted the working and middle classes. Now because of the Brexit referendum, Sterling has fallen and inflation increased. So austerity and rising costs are impacting all bar the wealthy, viz. it’s the wealthy who are sponsoring the right-wing of the Conservative Party, pushing Theresa May for a hard Brexit.

BUT ordinary people have been duped and had the wool pulled over their eyes. If it’s painful now, post Brexit will be much, much worse, with job losses, lower incomes, higher costs, collapsing social services and worse, as downside risks materialize.

Some of us still think that common sense will prevail. There are two elephants in the room, austerity and Brexit.

As highlighted in this blog many time, radical reform is preferable to austerity but it takes strong leadership. With regard to Brexit, the public attitude has softened considerable – people are frightened and hostile to the Far Right – and an interim solution towards a soft Brexit makes sound sense.

Thoughts?

Bank of England warns Brexit could do serious harm to UK economy | Business | The Guardian

The Bank of England in Threadneedle Street, Lo...

The Bank of England in Threadneedle Street, London. Deutsch: Sitz der Bank von England in der Londoner Threadneedle Street. (Photo credit: Wikipedia)

The Guardian reports that interest rates are kept at 0.5% as latest MPC minutes reveal significant concerns about effect on the economy of leaving the EU.

Source: Bank of England warns Brexit could do serious harm to UK economy | Business | The Guardian

For me, the intellectual case, in terms of economics, politics and risk minimizing, is overwhelming in terms of staying in the EU. The Brexit argument is lightweight, lacking in hard numbers and risk assessment – in short it’s fluffy and just based on political dogma.

Let’s kick the Brexit campaign into touch before people get seriously hurt by the economic implosion.

Thoughts?