Brexit: The Beginning

I’m planning to write a more reflective piece on recent events in the next day or two. In the meantime, here’s a short post with a few nuggets you may have missed in the mayhem.

The First Four Hours

In the first four hours since the referendum result was declared, the following two things (amongst many others) happened:

  1. Britain slipped from the fifth largest economy in the world to the sixth, as a result of the sharp fall in the value of the pound. France’s economy has now overtaken ours.
  2. Mark Carney, Governor of the Bank of England, pledged “up to £250bn”, if needed, to be available to the banking system to maintain the confidence of the markets. Readers might like to compare this figure to the annual £7bn for the UK’s financial contribution to the EU. This equates to just 0.4% of our annual income (GDP). (The Brexiteers’ notorious, lying figure of £350m a week equates to £18bn per annum.)

English Comprehension Test

The following two statements were made by leading politicians on Friday, less than a day after the result:

Statement A: “We end this referendum more divided than when we started it.”

Statement B: “We can now, calmly and united, take our country forward in the spirit of the warm, humane and generous values that are the best of Britain”.

Question: The speaker of which of these two statements is in greater touch with reality?

Oh, and just for information… speaker A was Tom Watson, Deputy Leader of the Labour Party; speaker B was Michael Gove, Lord Chancellor of Her Majesty’s Government, serial liar during the campaign, in charge of our judicial system. (You just couldn’t make it up!)


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