If Brexit is good, why does the Pound fall every time Theresa Mayhem opens her mouth about it?

The Pound has fallen to its lowest level since late October after Theresa May said there was no way the UK could keep “bits” of its EU membership.

Her comment on Sky News that “often people talk in terms as if we are leaving the EU but we still want to keep bits of membership of the EU. We’re leaving; we’re coming out” indicated that the Conservative Government has admitted that its ambitions to retain at least a few privileges of EU membership have been defeated and “hard Brexit” is the only remaining option.

It is what the referendum supported, after all.

The markets reacted accordingly and the Pound plummeted – indicating that some businesspeople had been holding onto an illusion that something useful could be salvaged from the wreck of our EU membership, but now those hopes have been dashed.

It will be interesting to see how UK businesses fare in the markets over the next few months. Brexiters (often dubbed “Quitters”) have been claiming the UK will enjoy a trade renaissance, pointing at the markets’ buoyancy in this “phoney war” period between the EU referendum decision and any negotiation as their proof. Will they be proved wrong?

The admission that the UK will probably leave the Single Market has been resisted by Tories for months, in the knowledge that it will have a harsh impact on British companies.

Political Scrapbook commented: “Leaving the Single Market would make it harder for companies to recruit the best talent. It would also make it more expensive for British companies to sell their goods and services to other EU countries.

“The Pound became one of the world’s worst performing currencies last year, and is expected to drop further once Article 50 is triggered. In other words, the markets don’t expect Brexit to help the UK economy.”

And what about Scotland?

Nicola Sturgeon said she would trigger a second independence referendum if the Tories opted for ‘hard’ Brexit. Considering the fact that Scotland voted strongly to Remain in the European Union, it is a view with which This Site sympathises.

Is Mrs May saying she doesn’t care what Scotland does? Is she trying to split the union?

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4 thoughts on “If Brexit is good, why does the Pound fall every time Theresa Mayhem opens her mouth about it?

  1. NMac

    The really nasty right-wing nutcases in the Tory Party, the people who couldn’t care less about the vast majority of working class people are now in charge and it doesn’t bode well for the nation as a whole. These people, like Duncan-Smith, Davis, Fox and others can’t even work well alongside their own thoroughly nasty colleagues, so they are totally incapable of working alongside people from other countries. As I see it, the future in their extremely unpleasant hands, does not look good at all.

  2. Christine Bergin

    I wonder if the pundits have considered that those with the resources will be buying and replacing things now in the expectation of not being able to afford or get those things in a couple of years. That would explain why we have reports of good retail performance.

  3. chriskitcher

    If Theresa Maybe was a PM of any worth she would take the decision not to leave the EU because of the catastrophic effects that are being visited on the UK economy. However when we have politicians that are more interested in their own careers than the good of the country we have expect such mediocrity in them.

  4. Len Gllday

    Odd, how blind those in power are to facts that are changing the very fabric of their lives and everybody’s world,
    There is a Elephant in the room,
    that nobody wants to talk about or even try to acknowledge it exists,
    But soon this will blunder across all our lives,
    from the ivory tower of the establishment to the cold lonely homeless person huddle in a shop door way trying to keep warm,
    As soon we have to pay the piper for all this money we have printed
    over the last 90yrs and resource new ways to keep wolf from our doors,
    As this house of debt we live in will soon fold back in on it shelf,
    Common sense soon tell you that the money you use to keep a life style that is unsustainable and borrow yet more trying to prop up a money system that went broke in 2009 and has not recovered yet ,
    When money folds so will food production
    it will be on a global scale,
    and ten millions of people will head
    to USA.
    to E.U.
    to RUSSIA,
    to UK
    and the chaos it will cause will affect everybody,
    as people with nothing to lose flood across boundary of your world,
    and no army in any county will stem the flow as refugees just climb over the body’s of those that lead this vanguard in to the world we built , but keep denying them,
    this is your future this is the ELEPHANT IN YOUR ROOM,
    and sad thing is its to late to change it,
    what follows is now fixed in to the future,
    not a matter of if, it will happen,
    but more a matter of when,
    Ignore the future at you peril,

Comments are closed.