connect with us

Brexit Countdown :

278Days 19Hours 12Minutes 05Seconds

The Sun: Why 2018 will be good for go-it-alone UK as we edge closer to Brexit Britain

Date: 31 12 2017

BRING IT ON: Why 2018 will be good for go-it-alone UK as we edge closer to Brexit Britain

Two figures from the business and finance world tell the Sun what they think about Brexit

By John Longworth and Louise Cooper

AS a new year dawns, you may wonder what lies ahead for Brexit-bound Britain.

Europhiles warn of doom but the City of London’s changing skyline shows a bright future is on the horizon. Here, two figures from the world of business and finance look forward to 2018.

By John Longworth

THIS year I spent my family Christmas in London — and as I walked through the streets, I gazed upon a skyline filled with cranes and new towers rising to the heavens.Everywhere I saw investment, streets full of visitors from all over the world spending money in the hotels and shops.

So much for the doom-mongers among the banks and multinationals. The financial centre is booming and Britain is in rude economic health. In the past few days, the Confederation of British Industry reported manu-facturing orders at a 30-year high and export demand at its busiest in 20 years.

This is a great boost to the regions and entirely down to our competitive currency created by the referendum vote. As a consequence, the current account deficit — how much more the UK spends than it earns — has improved for the first time in years.

To top this, the CBI has been forced to eat its words from earlier this year, now admitting that growth in 2017 will almost match last year, at 1.8 per cent.

The UK is now the best place in the world to do business, according to Forbes magazine, a leading source of business news.

The Bank of England has dubbed the City of London “Europe’s Banker” and will continue to welcome financiers from all over the world. And the knock-on effect for millions who voted for Brexit is clear to see.

Unemployment is at an all-time low and employment at an all-time high. This is a stark contrast to much of continental Europe where, in the “wonderful” EU, unem-ployment is in some countries above 25 per cent.Young people in the EU are hardest hit by the jobs shortage. Why do they put up with it? We now have the opportunity to be better off, with or without a free trade deal with the EU.

Provided the Government retains our newly won freedoms to set taxes, decide on regulations, make trade deals and remove tariffs, the UK economy will boom for years to come.Crucially, the removal of tariffs on food, clothing and footwear will reduce the cost of living — especially for the poorest in Britain, who spend more of their income on these things.

Prices will fall by an average of 20 per cent over time. Bizarrely, Jeremy Corbyn’s Labour Party is opposed to removing these tariffs. It would rather go on subsidising landowners on the UK rich list instead.

Foreign investors recognise the potential for the UK economy to grow faster after Brexit and are saying “bring it on” as they continue to invest in Britain. But some parts of the City, banks and multinationals want to hang on to the status quo because that suits them — yet they risk damaging our country by doing so.

Business owners who are prepared for change and naturally take risks are gung-ho in support of a swift, clean Brexit and want to embrace the opportunity for a more prosperous future.So why don’t those in the City stop bleating and instead get behind Brexit Britain? Why don’t they start being entrepreneurial, taking the opportunities and enjoy the great things that are about to happen?

Happy New Year, Brexit Britain!

  • John Longworth is the co-chairman of the Leave Means Leave campaign and a member of the advisory board of Economists for Free Trade.

December 31st, 2017: The Sun