Brexit

One of the City’s best-known economists, Roger Bootle, discusses whether a success could be made from Brexit, just over a year after Britain to leave the European Union. Bootle begins by explaining the ‘overblown’ nature of the ‘European Single Market’ concept: I don’t think what has been clearly said or argued is that the [European] ‘Single Market’ is vastly overblown. There are advantages and disadvantages of not being part of it. However, I do think it has become a protectionist entity. The original idea for a [European] ‘Single Market’ was a British one supported by former Conservative Prime Minister, Margaret Thatcher. The idea behind the [European] ‘Single Market’ was to

So, the worst has happened, just as Ryanair said it would. The budget airline has had to cancel thousands of flights – around 50 of them, every day, for the next six weeks. It follows an ominous warning that was made by chief executive Michael O’ Leary last month: “What is increasingly likely to happen is that there will be no flights. Mrs May and the Brexiteers will be trying to explain that to you in 12 months’ time, why getting a car to Scotland or a ferry to Ireland are the only options on offer.” Except, that is, while last month’s warning concerned Brexit, this week’s cancellations concerned a cock-up

Twenty years ago Wales (barely) said Yes to devolution. Despite a Welsh Assembly being supported by the wildly popular new Prime Minister Blair and opposed by the very unpopular Conservatives, the public gave the most grudging endorsement to partial self-rule. A lot of water has flowed under many Welsh bridges since then. Public opposition to devolution fell away surprisingly quickly after 1997; the latest evidence, which I will be presenting in Cardiff on Monday, confirms that a clear majority in Wales now support devolution. There is little political opposition either. The Conservatives swiftly accepted the referendum result; since returning to power at Westminster they have overseen two Wales Acts transferring

In my Daily Telegraph column yesterday, I asked where Boris Johnson had gone. We never hear from him now, I said, unless there’s been some tragedy overseas or some risqué joke backfiring in Bratislava. Since becoming Foreign Secretary, the most gifted communicator in the Tory party had been mute – a baffling waste of talent. While he sulked, Brexit was being defined by its enemies. The narrative has become one of tedious negotiations and no one in government seemed able (or even interested) in saying what the point of Brexit was. Boris helped inspired a nation to vote for Brexit, and gave a wonderful, liberal and globally-minded definition of it

House prices are in freefall. Unemployment is rising relentlessly. The pound is plunging on the markets, and companies are re-locating to Paris and Frankfurt in droves. In the parallel universe Mark Carney increasingly seems to live in, that is a pretty accurate description of the British economy. In this universe, however, the picture is very different. The economy is doing just fine – and that is making it increasingly hard to understand why interest rates are being held at ‘emergency’ levels to cope with the ‘catastrophe’ of leaving the European Union. At a meeting of the Monetary Policy Committee yesterday, the Bank left rates on hold at 0.25 percent, while

The choice which faced us at the EU referendum has often been presented as lying between the status quo and the unknown, between security and uncertainty. Until the early hours of 24 June last year I was convinced that this would be the clincher: that the British public, though heavily Eurosceptic, would not quite have the balls to overcome their native conservatism and take what many would see as a leap in the dark. Yet Jean-Claude Juncker’s ‘state of the union’ speech today dispels the notion that voting Remain would have been a vote to keep things as they are. Remaining in the EU as it now is was not

The EU Withdrawal Bill is undoubtedly an important piece of legislation. But I suspect that the bickering over Henry VIII clauses and affirmative statutory instruments passes most voters by. This is why it’s imperative that Theresa May keeps reminding voters of what the point of Brexit is, of what it will enable this country to do. One of the many problems with the Tory general election campaign was that it turned Brexit into a process story. May talked endlessly about the need to strengthen her hand in the negotiations. But as Andrea Leadsom complained in the political Cabinet’s post-mortem of the election campaign, May never said what Brexit was actually