Brexit

The last time George Osborne appeared before the Treasury Committee he had to face questions on his disastrous Budget. So given the low bar, you could be forgiven for thinking that today’s session on EU spending would have been a walk in the park in comparison. However, the Chancellor was put through his paces by the committee — chaired by Andrew Tyrie — as several pro-Brexit MPs, including Jacob Rees Mogg and Steve Baker, took the opportunity to air their grievances with the Remain campaign. It was Osborne’s doomsday Treasury Brexit report — which claimed that British households would be left £4,300 worse off — that gave him the biggest headache.

Britain’s trade deficit – the gap between what the UK imports and exports – is now at its biggest since the financial crash in 2008. The latest figures out today show that the difference between the two is now £13.3bn for the first four months of 2016. That’s a jump from £12.2bn at the end of 2015. So what do the figures actually mean? City analysts have described the trade deficit as ‘truly horrible’. The British Chambers of Commerce said the gap between imports and exports was ‘unacceptably large’. It’s not only those from the business world having their say on the latest figures though. As ever, these statistics are

With the May elections over, the EU referendum campaign is now in full swing. David Cameron started the day warning that Brexit could put peace in Europe at risk. In his speech at the British Museum this morning, the PM also asked whether leaving the EU was a risk worth taking. Here’s what he said: Boris hit back by making his case for voting out, saying that negotiating on behalf of the EU is like ‘trying to ride a vast 28-man pantomime horse’: He also sung ‘Ode to Joy’ in German: And Boris even appeared to forget the name of the city which, until a few days ago, he was

‘England in effect is insular, she is maritime, she is linked through her interactions, her markets and her supply lines to the most diverse and often the most distant countries; she pursues essentially industrial and commercial activities, and only slight agricultural ones. She has, in all her doings, very marked and very original habits and traditions.’ This classic Eurosceptic statement was made, as Daniel Hannan reminds us in his excellent book Why Vote Leave, by a great European, Charles de Gaulle. He was explaining why France was rejecting our attempt to join the EEC in 1963. The General understood what the European project was, and why Britain was not a

We should assume that today’s OECD report on Brexit was intended to frighten Britain into voting to remain in the EU. Ángel Gurría, its secretary-general, has tried to translate his figures into a blood-curdling soundbite about losing a month’s salary by 2030 (something that could easily be remedied by a tax cut). Its finding is that the trade we’d apparently forfeit would make the UK economy 5pc smaller that it would otherwise be 2030, not quite so bad as the 6pc estimated by the Treasury. And by the OECD’s maths, the “cost” to households is closer to £700 a year than George Osborne’s made-up figure of £4,300 a year. But because the OECD report is