With the govt. consumed by Brexit-induced political turmoil, infighting, backstabbing and chaos, it’s time to renew the argument for a People’s Vote. This blog from an economist writing for the LSE Brexit blog argues that Britain deserves better – and for the political geeks out there (like us), it goes into great detail at the end about the devastating impact any form of Brexit will have.
….it is important for lawmakers to know that Brexit will make their constituents poorer. Whereas the wealthier can ride this out, it is families on middle incomes and the less well off who will feel the financial pain most sharply.
The economics of Brexit are very simple. Being outside the EU inevitably means higher costs of doing business with our nearest neighbours – so there will be less trade, and less trade will make us poorer.
The more distant a relationship we have with the EU, the bigger will be our pay cut. This will be hugely painful if there is a disorderly ‘No Deal’; it will hurt to a lesser degree with a softer approach. The formal amounts that the UK pays into the EU disappear in the rounding error compared with these economic losses.
Let’s be honest: the Leave campaign was won by selling mutually unachievable, contradictory and impossible versions of a fantasy deal that were never ever going to be deliverable. In that situation, surely the only sane and morally right thing to do is to ask the voters if this is what they voted for. #PeoplesVoteNow #EndTheChaos #StopBrexit