"So, in a sense, we now have a leave alliance. It's just that we've done it unilaterally."
There is massive danger is a reeling bond market. If we see rising yields morph into a serious bond market meltdown, the melt-up in stocks could split and go rancid very quickly. Rising rates have massive negative implications for corporate credit and without the juice of further central bank easing – stock markets could well lose heart.
We can be sure that the EU will do everything it can to stop the UK from being able to adopt policies that make us more competitive. This does not mean lower standards, but better standards and regulations designed by UK legislators for UK conditions and not by EU bureaucrats.
"The Tories may well change the rights of workers but at least we will have the possibility as a Labour Party and trade union movement to put those back, as we have done before. When those rights go in the EU, they are gone for good. They become more or less unalterable.”
The latest CER report notes that excluding the US from the analysis reduces the estimated hit from 2.9% to 2.2%, while excluding Germany (and thus increasing the weight on the US) increases it to 3.4%. As result, ‘because of this rising degree of error, this will be the last update in the CER series on the cost of Brexit’.
The whole of agri-food sector exports to the EU comprise only 1% of output of goods and services in Northern Ireland or in other words 4% of sales to the outside world. Even so, almost one billion pounds of business is at stake and 5,000 jobs could be at risk plus parts of farmer’s incomes if the whole sector were to go under.
The first step is to make sure that the Prime Minister has the full power to bind the United Kingdom and to obtain the best result through his negotiators. You cannot have a Prime Minister whose moves are undermined by reports of a Parliament that will not accept no deal.
You could make the same insinuations of bad faith against almost anybody. For example, Labour is heavily dependent on money from trade unions. The CBI gets most of its money from big business. Some recent Brexit work by the National Institute of Economic and Social Research (NIESR) has been funded by the Peoples Vote campaign.
Legal critics of the judgement have pointed out that the Supreme Court has casually dispensed with the fundamentals of the ‘political constitution’ that was established following the ‘Glorious Revolution’ of 1688. In that constitution the Queen in parliament is sovereign.