THE TELEGRAPH ARTICLE CRITICISING MAY

There is a rather interesting article from the Guido Fawkes website about a article that was supposed to be printed in The Telegraph in July last year but was apparently pulled after pressure from her supporters (HERE). It is in fact surprisingly critical of her and her time as Home Secretary.

She is described by David Laws as "secretive, rigid, controlling, even vengeful minister, so unpleasant to colleagues that a dread of meetings with her was something that cabinet members from both parties could bond over". It confirms what one of her constituents wrote in The New European some time ago - she is apparently not a very nice person at all.

TELEGRAPH COMPLAINS UK BEING FORCED OUR OF GALILEO

The Telegraph was at the forefront of the leave campaign, telling us the EU is finished and we have to leave lest we be dragged down with it, they are now complaining the EU is "pushing us out of the space race" (HERE) claiming they want to cancel "Galileo" contracts with UK companies after 2019. Galileo is the new European satellite navigation system.

It all looks totally pathetic. What did The Telegraph think would happen?  They said we had to "take back control" but are now complaining we are being forced out of something we wanted to remain in. How the Europeans must be laughing at us.

TELEGRAPH FORECASTS STERLING WILL BOUNCE BACK IN 2017

The Telegraph, whistling to keep up their spirits, carry a report claiming that the pound will "bounce back" this years to $1.38 or so.  They say the currency is seriously undervalued. (HERE).

This is the same newspaper that said it was overvalued last year!

TELEGRAPH - EU SAYS WE MUST STAY IN TILL 2022

The Telegraph is now claiming the EU say we will have to stay in until 2022. They have suggested a three year transition during which we will need to comply with all normal commitments - ECJ, customs, etc (HERE).

TELEGRAPH THINKS WE'LL GET MONEY FROM EU!

The increasingly delusional Telegraph think we will get money back from the EU after we leave (HERE).  This will be absolutely amazing if true - but I doubt it is.

HOUSEHOLDS MORE PESSIMISTIC

A survey by Markit shows that people are becoming more gloomy about our future prospects (HERE). The survey found that the proportion of people expecting the economy to fare better over the next ten years as a result of Brexit has fallen to 29% from 39% last July.

Meanwhile, the proportion who think the UK's economic prospects have got worse has risen from 42% to 53%, resulting in a net balance of -24% — down sharply from the -3.5% last July.

Prosper like never before!

LLOYDS CHOOSE BRUSSELS

Just a day after Article 50 was invoked, Lloyd's of London says it will establish a new European subsidiary in Brussels to avoid losing business when the UK leaves the EU (HERE).

The 329-year-old insurance market confirmed the plan as it released its latest annual results.

"A subsidiary office will be opened in Brussels with the intention that it will be operational for the January 1 renewal season in 2019," it said.  Apparently just 100 jobs will go, but this is 100 highly paid jobs that won't be paying tax here.

TELEGRAPH HAS PROBLEMS DECIDING WHAT'S HAPPENING

The Telegraph has some mixed messages today. Alastair Heath says Brexit hasn't even started yet and Britain is thriving (HERE) while at the same time the "failing" Eurozone has overtaken us (HERE) and in yet another piece it says the FTSE hit new heights while the pound fell on a resurgent dollar and "Brexit fears".

Meanwhile in the Brexit Podcast they say the British people took a leap in the dark and landed safely (HERE). It almost seems a shame to tell them we haven't actually left the cliff yet!

What can you say about that except, Oh dear, Oh dear, Oh dear.

UK DOWN - EU UP!

The Telegraph of all papers, has a report about the growth of the eurozone (HERE) which has apparently hit a six year high.  In the same week Reuters says UK consumer morale is dipping as inflation begins to take off (HERE).

It would be a huge irony if after years of crowing that we are growing faster than any other G7 economy, after Brexit we slow down and the eurozone takes off!

The Resolution think tank says the chancellor is on course for a £29 billion windfall in April with the PSBR set to fall to £56 Bn instead of the £68 Bn forecast last November which will, apparently, cause the cumulative borrowing figure over the parliament to fall by £29 Bn (HERE). We are at a high point with unemployment at historic lows and the public finances, although still weak with a £60 Bn deficit, at least showing some resilience. Brexit can only go one way - down!

ELECTRIC MINIS TO BE MADE IN GERMANY POST BREXIT?

BMW are said to be considering where to make an electric version of the mini (HERE) and normally I would expect it to be in this country but it appears that Brexit may have added quite a bit of uncertainty and it may now be made in Germany or even in Holland where some minis are made at the moment.  Or it may be that BMW are playing the same game as Nissan and making threats to obtain more support in one way or another.

JOBS RUSH TO IRELAND

The Irish Times (HERE) carries a report that Stephen Kelly, chief executive of campaigning organisation Manufacturing Northern Ireland, has told a House of Commons committee that UK companies were registering in Ireland as hedges “against worst-case scenarios, if they develop”.

He claims 100,000 UK companies have registered entities in Ireland since the Brexit vote, some beginning at 8:00 am on the 24th June. This is not jobs but companies. How many jobs might be lost is anybody's guess.

Prosper like never before!

IRISH UNIFICATION AS PART OF BREXIT?

The Irish PM Enda Kenny has proposed that Irish unification be considered as part of any Brexit negotiation (HERE). How the DUP, who funded the leave campaign are taking this I don't know but it adds to the complexity of the negotiations and will obviously be the beginning of a break-up of the UK.

No doubt some of the Brexiteers will welcome getting shut of the troubled province but I would be very sad to see it go.

THE TELEGRAPH'S ROSE TINTED SPECS

The Telegraph (HERE) has a piece this week claiming the UK economy is firing on all cylinders as signs of more balanced growth emerge. It's true the economy has held up well over the past few months but inflation is creeping up and labour shortages are appearing. I am certain it is just a matter of time before it all begins to go south. 

When it does I'll remind The Telegraph what it said.

POST BREXIT PENSION ISSUES

A report in The Telegraph (HERE) claims that the pension age will have to be increased to the perhaps 75 to cope with the effects of brexit on immigration. Because there will be fewer people of working age it follows there will be a higher proportion of people in retirement. The government will be faced with the choice of increasing taxes, reducing the amount of the state pension or increasing the retirement age.

All those leavers who are mid fifties now will no doubt think it's all a bit of scaremongering. That's of course if they think at all.

The effects are already being felt in the labour market according to this report in The Independent (HERE) which says a drop in EU workers is contributing to shortages in filling both skilled and unskilled jobs. Others think that Brexit will result in a vanishingly small reduction in EU workers (HERE) and this is the governments dilemma. Cut immigration too much and the economy is badly hit, too little and leavers will not be pleased.

Personally, I've always thought that Brexit will be a vast expense to stop about 50,000 people a year coming here - that's about 0.007% of the population.

AND NOW THE BILLS START TO COME IN

Michel Barnier, the EU's chief negotiator is set to present the UK with a bill for 49 billion euros as our contribution to commitments entered into during membership (HERE). In other reports he is said to have a formula rather than an actual figure but I assume this is the figure his formula produces at the moment.

It is also claimed that this sum must be negotiated and agreed before talks can begin on our future relationship with the EU. There will be enormous pressure on David Davis from Brexiteers to pay nothing and from industry to pay whatever is needed to secure tariff free access for as much of our exports as possible.

FALSE £350 MILLION PER WEEK CLAIM WON THE REFERENDUM

Dominic Cummins, one of the "masterminds" behind the leave campaign has written a piece for The Independent (HERE) where he claims the £350m a week figure swung the result in their favour. This doesn't surprise me but it has many people up in arms.

It is shocking that a claim which leave insisted was accurate although all mention of it is now forgotten and Nigel Farage has admitted he thought it was a mistake is now said to have been decisive in winning the referendum. 

WITHDRAWAL BILL PASSES FIRST HURDLE

The EU (Notification of Withdrawal) Bill 2017 looks very likely to pass through the HoC today without any modifications (HERE) and will soon go to The Lords.  I have written to many of the Lords to ask that they try to amend the bill to give parliament more control at the end.

Mrs May wants to trigger Article 50 by March 9th at a European Summit and it seems she may well achieve this aim.  I do not expect the Lords to stop the bill altogether since this would likely bring on a general election and probably spark the demise of the upper chamber in double quick time.

However, I hope they may be able to delay matters. The economic impacts are beginning to be felt and I think if we can string things out a bit some of the lies put about by the leave campaign will be seen for what they were.

ARTICLE 127 LEGAL CHALLENGE FAILS

The legal challenge to the government's plan to pull us out of the single market (HERE) has failed at the first hurdle, being thrown out by the High Court (HERE).

I assume that is the end of that. What a pity.