Whatever they might tell you, a lot of money has moved out of the UK in the past year or so, at least £50bn, according those without too much of an axe to grind: fund managers, whose interest is in making money. Hopefully for us. Why it’s happened is depends on which side of the Great Divide you stand. If you’re to the right and a Spectator reader, ‘money is draining from Britain but because of Corbyn not Brexit’. If you’re anywhere vaguely to the left of Rees-Mogg, Farage and Attila the Hun, the ‘UK investors pile billions offshore amid Brexit uncertainty’ is a more likely explanation. You pays (or loses) your money, and takes your choice.
“A ‘no-deal’ Brexit will be devastating”
I quoted Overheard Bloke in the Gym Changing Room not long after the referendum: ‘We should say ‘You’ve had your last cheque, Merkel’, close the borders, job done!’ If we’d followed his sage advice rather than fannying around for four years, we’d have been through the...
