Thread by @Dan010173

1. Remember the British Gas campaign?
"If you see Sid, tell him!"

It got me thinking: what would the Govt have to disclose if they were SELLING US SHARES IN BREXIT?

So I looked at the Royal Mail share prospectus.
It shows how close Brexiteers have come to financial fraud.

2. The first thing you learn is that we can sue Company’s Directors (or Cabinet in our case) if they:

- give info that’s “misleading, inaccurate or inconsistent” or
- omit “key information in order to aid investors when considering whether to invest.”

3. They have to be up-front about the risks.
If not, you can sue them for damages.

That means a Brexit prospectus would have to include:
- all those impact assessments
- realistic projections on trade deals
- likely damage to public finances

4. Important! You can change your mind if they change the offer.

They must tell you if they learn something big that would affect your decision to buy the shares.
If you want, you can then withdraw your offer.

No £350m for the NHS? Offer withdrawn.

5. Everything they tell you must be independently reviewed.

External auditors have to sign off parts the prospectus.

Imagine the National Audit Office or the Office for Budget Responsibility had to give their views on the Brexit prospectus?

6. They have to tell you how much it will cost (obviously).

Imagine if Boris Johnson and Michael Gove had to come clean on that?
(and that you could sue them if they lied…)

7. They have to explain your rights IN ADVANCE, including your voting rights.

Applied to Brexit, they’d have to explain:
- why we’re giving up the right to influence regulation that’ll affect us
- why we’re settling for being rule takers not rule makers

8. Treatment of overseas investors.

Very interesting… two big things stand out:
- everyone living in the UK is treated equally
- because of EEA passporting rights, you can raise money anywhere in Europe

9. Completely different rules apply to the US

The regulation is so harsh there, that the prospectus has to use CAPS just to make it clear.

WE CAN’T SELL THESE SHARES IN THE US OR THEY’D SUE OUR PANTS OFF.

Just one example of US protectionism.

10. What’s in it for them?

Company directors have to disclose any financial interest.

So David Davis would have to explain if he still holds Tate & Lyle shares (he worked there for 20 years and they’re gunning for Brexit).

11. Conclusion?

The government should publish its Brexit deal in a Prospectus and see if the people buy it.

12. Any thing else?

Here’s that British Gas advert – showing my age here ☺