Liz Webster Profile picture
May 29 4 tweets 3 min read Twitter logo Read on Twitter
The Times finally gets real about #Brexit

In the first of a two-part series, business reporters look at how parts of the service economy are faring almost two and a half years after the end of the Brexit transition period in late 2020.

#BrexitHasFailed ImageImage
“Britain voted to leave the EU seven years ago, but has failed to define its new global trading relationships. To regain its place as one of the strongest growing G7 countries, Britain needs a bold, forward-looking policy agenda and industrial strategy integrated with an actively… twitter.com/i/web/status/1… Image
China USA trade war is serious threat to Britain thanks to #Brexit.

“Britain voted to leave the EU seven years ago, but has failed to define its new global trading relationships.”

Analysis finds that the UK’s economy will suffer more than those of the US, EU and China in the… twitter.com/i/web/status/1… Image
The report says the UK cannot adopt “a wholesale activist industrial policy” like the US, EU or China because it is only a “mid-sized economy outside major trading blocs”. The UK does not have the same “fiscal capacity or economic strengths” as the world’s superpowers, the paper… twitter.com/i/web/status/1… Image

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More from @LizWebsterSBF

May 20
Tories are drawing up plans for a succession of by-elections in the event that Boris Johnson is forced to resign and prominent supporters stand down so they can accept peerages.

The Times has been told that party staffers will conduct a series of “by-election drills” next week… twitter.com/i/web/status/1… Image
Senior Tories are increasingly concerned that Johnson could resign in protest if the report, due next month, is critical of him. He could also face a by-election if the committee decides to suspend him from the Commons for 10+ days.

The by-election drills will look at the seats… twitter.com/i/web/status/1…
Johnson has denied that he is preparing to make a “chicken run” to Henley, a constituency in Oxfordshire he previously represented. John Howell, the incumbent who is standing down, has said that Johnson would succeed him “over my dead body”. A spokesman for Johnson said: “Boris… twitter.com/i/web/status/1…
Read 5 tweets
May 18
Rishi Sunak’s lack of industrial strategy attacked by former business secretaries.

@vincecable @GregClarkMP and Peter Mandelson accuse @RishiSunak of failing to prepare 🇬🇧 for the future with effective or even visible industrial strategy
🧵
ft.com/content/f568ea…
Clark said PM was so unenthusiastic about the idea that it was “like a guilty secret”, and that he had never heard Sunak even refer to “industrial strategy”.

The role of the state in the market economy has become a huge issue after US president Joe Biden’s $369bn green subsidy… twitter.com/i/web/status/1…
Another huge error by Sunak when chancellor: he binned Clark’s industrial strategy in March 2021 in a move that even surprised some of those working in Boris Johnson’s government at the time. “The Treasury blindsided us,” said one official.
Read 11 tweets
Apr 16
#Brexit is the last straw after a succession of damaging, mainly Tory, policies: ironically, these were justified as being in the interests of business, investment and productivity.

But the Thatcher govts from 1979 onwards inflicted serious damage on the economy. I have… twitter.com/i/web/status/1… Image
“With an economy suffering cumulative effects of poor growth or absolute decline in real incomes – and along comes #Brexit. And what does former remainer @Keir_Starmer do? He ignores the open goal of the government’s disaster and says “make Brexit work”.
theguardian.com/business/2023/…
A recent poll shows it Labour were to face facts and argue that Brexit was a mistake, its share of the vote would actually increase. As Prof Andrew Blick @KingsCollegeLon says: “The party seems to have drawn the conclusion that it cannot come back into power if it criticises… twitter.com/i/web/status/1… Image
Read 4 tweets
Jan 7
Thanks to #Brexit 🇬🇧 is already 2/3 of the way to…The Great Depression.

For a nation which until a few short years ago was the envy of the world — but then decided to basically inflict the Great Depression on itself.
It’s like watching someone who was in perfect health@until last week and now they have a case of cancer so advanced there are tumors all over the body, and they’re going into organ failure. Never seen anything like it. Beggars belief. Shouldn’t happen. Shouldn’t even be possible.
Britain has become the rich world’s Argentina, and that’s not exaggeration. It has plunged itself into something that’s already 2/3 of the way to the Great Depression, and that’s not overstating the case at all, it’s an empirical fact.
Read 20 tweets
Jan 1
#RejoinEU is only satisfactory means of addressing manifest problems caused by #Brexit.

To #GetBrexitUndone is a substantial challenge, but failing to pursue it is not a means of avoiding problems which mount around us as Brexit continues harming 🇬🇧
🧵
fedtrust.co.uk/getting-brexit…
Claims that rejoin is not a practical option are in a sense self-fulfilling.

A key obstacle to this objective is that those who might seek to achieve it are dissuaded by the perception that such a programme is doomed to fail.

Recognising that such predictions need not ….
be correct is a means of overcoming them. It is not possible atm to provide a precise map or timetable to rejoining. But it is clear that the process can only begin with people openly acknowledging the necessity of this objective.
Read 4 tweets
Dec 31, 2022
2022 saw rise of #Brexit regret. Opinion polling saw high support for #RejoinEU

So what changed?

1. In Dec @CER_EU found that Brexit cost 🇬🇧 a staggering £33bn in lost trade, investment and growth with estimated the tax loss from Brexit at c. £40bn.

independent.co.uk/news/uk/politi…
The research showed that by June of this year Britain’s economy was 5.5% smaller than it would have been if the country had remained in the EU.

2. Impact on food prices. Brexit has cost households more than £5.8bn in higher supermarket bills, study by @CEP_LSE found in December.

@LSEnews said Brexit had pushed up UK food prices by 6% since new trade barriers were a key factor behind 🇬🇧highest inflation rates in decades.
Read 16 tweets

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