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Mar 26 2018

No regrets? Looking back at the vote for Brexit...

As the painful divorce process that our country is still engaged in with Europe lingers on, it is becoming clearer that even those in favour of Brexit don't have much to celebrate or be pleased about. In hindsight the predictions that we would be subjected to a worse deal proved correct, as it is not in Europe's interest to give any nation favourable treatment as they exit; this would effectively be signing their own death warrant.
Moving forward in these conditions is being made more painful by politicians who are being reliably incompetent and confrontational. Back in the lead up to the vote, I stressed how uncertainty was having a negative impact, this continues as both sides still try to broker a deal. We've got to concentrate on protecting our own economy. Thinking positively, we do have irons in the fire, expanding trade relations with China and America, but we shouldn't be neglecting doing business on our doorstep with our European neighbours.
We are still as a nation being drip-fed the effects of the banking crisis,and Brexit is probably going to affect us as individuals making us something like 3% worse off. Having said that, interest rates are likely to remain low and mortgages are historically affordable – making home ownership still a great aspiration for individuals and families.
The government would be well advised to take a closer look at Stamp Duty Land Tax if they are serious about stimulating the UK economy. Relaxing SDLT could have important knock-on effects; with each house move comes economic spending in refurbishing and decoration, furnishing and so on, all which generates VAT revenue for tax coffers.
Let's move to create aspirational futures for people, and motivate individuals rather than drip-feeding dour information! This is how we must mitigate the negative effects of Brexit.

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