Timothy Birdnow

Despite claims Brexit would crash the British economy, the Kingdom is experiencing boom times.

Britain is Booming - Despite Brexit

Removing all the shackles imposed by the E.U. was guaranteed to lead to a robust economy for Britain. The E.U. was never a net positive for many of her members because it was always a mob rule type of system. Britain, of course, had the entire Commonwealth to trade with, as well as was quite capable of trading with the E.U.'s partners. It was a stupid argument. It was essentially "bigger is better". Why would anyone suppose that was true?

From the article:

Almost four years on, it’s safe to say that most of the economic doom-mongering was nonsense. This week’s figures on jobs and earnings show that, since the referendum, employment is up by one million — and it is rising still. Unemployment in the UK is at its lowest since 1974. Unemployment in Wales is at its lowest since records began. Leaked internal reports from Nissan have revealed that, if the current round of Brexit talks fail, it could move production of Micras from France to Sunderland, aiming to capture a bigger share of the UK market.

This week’s figures also explain why Jeremy Corbyn failed to gain any traction with his idea of an exploited ‘zero hours Britain’ suffering at the bottom of a ‘widening gap between rich and poor’. It simply isn’t true that low-paid workers have fared worse than others. At the lower end of the income scale, earnings are growing faster than average — pushing income inequality towards a 30-year low. Welfare reform has helped move more people into work.

A sharp rise in the National Living Wage, which will soon be one of the highest in the world, has helped this along. The bottom third of full-time employees received an above-average pay rise of 4 per cent. The bottom 5 per cent of part-time workers did even better, with an annual pay increase of 11 per cent. Employment figures, meanwhile, show how wrong William Hague’s Conservatives (and the CBI) were to oppose Tony Blair’s introduction of the minimum wage — and how right the Conservatives have been in recent years to embrace it. Far from the minimum wage destroying jobs, employment is at a record high. Work is paying more — and thanks to a steep rise in the personal tax allowance, it’s a lot more.

Posted by: Timothy Birdnow at 07:57 AM | Comments (2) | Add Comment
Post contains 500 words, total size 4 kb.