Brexit

Will Brexit butcher the banks? | 16 October 2016

The financial crisis defines our age. It helps explain everything from the presidential nomination of Donald Trump to Jeremy Corbyn’s leadership of the Labour party after 30 years on the political fringe. Certainly, the Brexit vote wouldn’t have happened without it. The crash of 2008 created a sense of unfairness that is still roiling our politics, as well as calling into question the competence of the West’s ruling class. The soi disant ‘experts’ were easily dismissed during the EU referendum campaign because nearly all of them had got the economic crisis so wrong. The Brexiteers asked: why should the public listen to the arguments of organisations and businesses that had

Britain shouldn’t stay in the customs union after Brexit

A Brexit deal that would end free movement and see UK goods able to access the EU market without tariffs or the need to jump through any additional hoops sounds, superficially, attractive. These arrangements could also be in place by the 2020 general election, as I say in my Sun column. But this idea of leaving the EU single market, but staying in the customs union is a bad one—however keen some in the Treasury and Whitehall are on it. For if Britain remains in the customs union, then it can’t do proper trade deals with non-EU countries. Instead, it will have to continue to apply the EU’s Common External

Theresa May is Blue Labour at heart

I never really agreed with the central-thesis of The Hitchhiker’s Guide to the Galaxy — that ‘42’ is the answer to life, the universe and everything. I have no great animus against the number — it does its job, filling that yawning gap between 41 and 43. But I had never thought it actually-special until the beginning of this week. That’s when I read that the Conservative Party was 17 points ahead in the latest opinion polls, on 42 per cent. A remarkable figure. I suppose you can argue that it says more about the current state of the Labour party than it does about Theresa May’s stewardship of the country.

Watch: Emily Thornberry’s calamitous Question Time appearance

Emily Thornberry put in a memorable performance on Question Time last night. Unfortunately for the shadow foreign secretary, it was an appearance that will be remembered for all the wrong reasons. Thornberry was heckled after sucking up to Corbyn, and she managed to make the audience groan when she claimed what united Labour was ‘so much more than what divides us’ (Mr S suspects there are many Labour MPs who might disagree with that view). Thornberry also tried to claim Labour were more grown-up than the Tories, saying her party fought ‘in the press’ rather than ‘in closed rooms’. But she saved her biggest clanger for when she was talking

What the increase in hate crime really tells us about post-Brexit Britain

It’s official: there is 41 per cent more hatred in Britain now than there was before the vote to quit the EU. Home Office statistics out this week reveal the torrent of religious and racist fury that was unleashed on June 23rd. Only a reversal of the democratic will of the people can possibly save us now. Really? We all need to calm down. The recently invented and chillingly Orwellian concept of ‘hate crime’ tells us absolutely nothing about the state of the post-referendum, pre-Brexit nation. Hate crime is defined as ‘any criminal offence which is perceived, by the victim or any other person, to be motivated by hostility or

Nicola Sturgeon is caught in an independence referendum fix

Nicola Sturgeon is in a bit of a fix. After saying that the Scottish independence referendum was a once-in-a-generation event she is calling for a second one just two years after the first. But polls show Scots have no appetite for this vote. Unlike the SNP activist base, which is itching for another fight – and there have even been signs of a Momentum-style infiltration of the SNP, raising the prospect of a split in a party whose strength has (hitherto) been in its discipline. So what’s the First Minister to do? Her answer, in the SNP conference, is to assuage the activists and publish a new referendum bill. Her

Thank goodness ‘Marmitegate’ is over

Back in the halcyon days of EU membership, a case for ‘Remain’ was presented upon these very pages. It explored the potentially disastrous consequences of Brexit on our meals. We toyed with the threat of turning our backs on claret, kissing confit de canard goodbye, and bidding farewell to champagne after 23 June. But in my shortsightedness, and in my greed, I failed to predict that Brexit would mark the funeral march of Marmite. Which it nearly did. Despite a day of utter hysteria, unalloyed panic and bulk buying, #Marmitegate is over. Thank God. To be fair to Brexit, and all who voted for it, no one could have predicted

Real life | 13 October 2016

Against all odds, I almost got through an entire Brexit dinner with dignity, and without opening the valve in my head which allows hot steam to escape. Almost. Our little Leave Means Leave campaign soiree at a restaurant in Birmingham was going swimmingly until a TV journalist drew up a chair and within seconds started berating one of the guests, a government minister, for not giving a cast iron assurance now that every foreigner living in Britain can stay once we leave the EU. ‘Oh go on! Can’t you just let everyone stay?’ he pleaded with the minister, who was trying to eat his sea bass. ‘I mean, these are

Universities challenged

On the face of it, this year’s Nobel Prize awards have been a triumph for British scientists. No fewer than five laureates come from these shores: three physicists, one chemist and an economist. But before anyone starts praising our higher education system, there is one small snag: all five are currently working at US universities. David Thouless, who was awarded half the Physics prize, has followed a typical career path. After taking a degree at Cambridge, he took a PhD at Cornell University and a postdoc at the University of California before heading back to Britain, where he worked for 13 years at the University of Birmingham. There, he started

Tesco finally meets its match

Only in the bizarre, upside-down, post-Brexit referendum world could Tesco try to portray itself as a victim of bullying by one of its suppliers. Isn’t Tesco supposed to be the nasty corporation which ruthlessly uses its might to squash the people who produce the goods which line its shelves? What about all those farmers, dairies and small-time cookie-makers apparently given a tough time by hard-nosed buyers at Tesco, who always want everything cheaper and for payment terms to be stretched out ever longer? I don’t expect anyone to feel sorry for Tesco – I’m certainly not sobbing over my Marmite sandwiches – but the reality is that yes, the supermarket

Nicola Sturgeon’s cherished Brexit grievance rears its head

Politics is a question of priorities. Push always comes to shove and that’s when you discover what a party really thinks is important. We’ve seen this repeatedly this year. The Labour party, for instance, has decided power is for other people. And the Conservative party has decided that leaving the European Union is something worth risking the Union for. If we have to break-up the United Kingdom to save the United Kingdom, then so be it. A price worth paying, you know. But don’t pretend you weren’t warned about this. Because you were. Repeatedly. There’s a reason, you know, why Ruth Davidson and most of her Holyrood colleagues campaigned for

Jolly good show

It’s tempting for a Brit to look over the Atlantic and smugly conclude that, after 240 years, the American experiment of self government has failed — that this ingenious country could not even find two decent people to run for the White House, and has instead laid on a political freak show that’s best watched from behind the sofa. British politics has its faults, we say, but we’re nowhere near as bad as that. But who would be bold enough to say that had Andrea Leadsom not dropped out of the race, Tory members would not have voted her in? And looking at the House of Commons, can we really

Will Brexit butcher the banks?

The financial crisis defines our age. It helps explain everything from the presidential nomination of Donald Trump to Jeremy Corbyn’s leadership of the Labour party after 30 years on the political fringe. Certainly, the Brexit vote wouldn’t have happened without it. The crash of 2008 created a sense of unfairness that is still roiling our politics, as well as calling into question the competence of the West’s ruling class. The soi disant ‘experts’ were easily dismissed during the EU referendum campaign because nearly all of them had got the economic crisis so wrong. The Brexiteers asked: why should the public listen to the arguments of organisations and businesses that had

May’s head on the block

Understand what this government is trying to get away with, and think about how it is trying to get away with it, and you will see it is reconstituting the oldest and dirtiest alliance in Tory-history: the alliance between snobs and mobs. I accept it takes a while to see our new rulers for what they are. Theresa May represents the dormitory town of Maidenhead. Although Eton College is just a few miles down the Thames valley, she could not be further socially and intellectually from David Cameron’s public school chumocracy. As for inciting mobs, what more ridiculous charge could I level against her? May seems to have no need

The road to the Jungle

 Calais On Sunday evening a British motorist, Abraham Reichman, 35, from Stamford Hill, north London, hit two Eritrean migrants who were trying to block the A16 outside Calais. They had leapt in front of his car, he says, as he slowed down to avoid dozens of migrants on the motorway. Terrified, Mr Reichman drove off at speed to the police station, where he later found out that one of the Eritreans had died. The police released him after several hours but he is under investigation for homicide involontaire. It is not difficult to meet migrants so determined to get to the land of milk and honey on the British side

Hard Brexit, soft sterling and a glimpse of the Night Manager across the water

This column comes from Puerto Pollensa in Majorca, my favourite off-season watering-hole. The hotel is full of elderly Daily Mail readers intent on making their gin-and-tonics last longer as they contemplate the news from home. Brexit is highly likely to mean ‘hard Brexit’ — departure without residual access to the single market or meaningful new trade deals with the EU or anyone else — and HM Treasury thinks that could cost £66 billion a year in tax revenues. The FTSE’s new all-time intra-day high was consoling for those with a portfolio tucked away, but an uptick in bond yields suggests equities are due for a sharp sell-off soon. And petrol

Tories on the brink of civil war at Brexit debate

Today’s Brexit debate was likened by one Conservative politician to a ‘group therapy session’. If that therapy session involved members of the same family turning on one another in a bitter feud then it was a rather apt description, as MPs used the session to air their personal grievances over the government’s handling of the referendum result. With Theresa May forced to make a last minute amendment to Labour’s motion on Tuesday night in order to prevent a Tory rebellion, it came as little surprise that the session was dominated by Conservative in-fighting. As Anna Soubry — a core member of the post-Brexit awkward squad — argued that Parliament must vote on Article 50

Jeremy Corbyn changes tactics at PMQs – but he still lacks any killer instinct

Corbs is back. And he’s getting his act together. He showed up at PMQs looking estate-agent smart. White shirt, natty blue suit, a red tie mounting, nearly, to its correct position at the throat. His second landslide victory has suffused him with calmness and authority. As he boasted to Mrs May, his position as leader was confirmed by 300,000 members of his party. ‘More than her,’ he needled. The Labour leader is changing his tactics. He’s ditched his habit of using PMQs to pass on gripes from a mysterious Customer Complaints Desk at Labour HQ. This politically suspicious and psychologically whiney ploy was never likely to prosper. It painted Corbyn