If Nicola Sturgeon and the Scottish National Party are serious about another independence referendum (which I very much doubt), they must be delusional. While Scotland's exports to the rest of the UK were £49.8 bn in 2015, its exports to the rest of the EU were just 12.3bn. If Scotland left the UK, either before or after the UK leaves the EU, it would be outside both the UK and the EU. It would then take years for it to rejoin the EU. The worst of all possible worlds.
On 17 January, Liam Halligan and Gerard Lyons published Clean Brexit, an exceptionally clear-sighted analysis of what need to be done to get the best possible deal from Brexit. The main point, and one which the Government seem to agree with, is that we need to be outside both the Single Market and the the Customs Union. Download it her: https://policyexchange.org.uk/publication/clean-br...
Mark Carney, Governor of the Bank of England, issued dire warnings about Brexit before the EU Referendum. Now he has repeated his doom-mongering. He is very much Osborne's creature and his analysis is tainted. To deliberately talk down the economy after the referendum is. at best, irresponsible and, in my opinion, he must go (as should Osborne whose two Treasury reports were completely demolished by David Blake of the Cass Business School). Savvas Savouri of Tosca Fund Asset Management was entirely dismissive of Carney's comments on the Today programme this morning, saying that he was completely ignorant of macro-economics.
I originally posted this on Facebook but I thought is was worth repeating here:
Can we please have an end to this pretence that the EU Referendum is a left/right issue? The only reason that Labour is campaigning to stay in is because it thought it could exploit the split in the Conservatives to its advantage. The remain campaign lied through its teeth, telling us that the European Community was just a common market. In the 1975 referendum, who wanted to leave? Michael Foot, Tony Benn, Peter Shore, Eric Varley and Barbara Castle. The Labour Party conference of 1975 voted nearly 2:1 to leave. Who wanted to remain?The right of the Labour Party, Margaret Thatcher and most of the rest of the Conservative Party. It was official Conservative policy to remain, partly because the Tories saw it as a good way to split Labour! Sound familiar? It worked and Labour lost the election, we had years of Thatcherism and we stayed in what is now the EU. There is a principled case to be made for either staying or leaving the EU but it has been drowned out by dishonest arguments on both sides.
It appears that a number of MPs who favour the UK remaining in the EU are planning to ensure that this happens even if there is a majority vote to leave in the forthcoming referendum. http://www.bbc.co.uk/news/uk-politics-eu-referendu...
So what is the point of having a referendum? It is worth remembering that the Scottish Nationalist Party would have a vote out of all proportion to its share of the vote at the last general election – they won more than 8.6% of the seats with about 4.7% of the vote at the last general election. Perhaps these MPs are so contemptuous of the public that they will decide that they can ignore general election results, too.