The former governor of the Bank of England has condemned the government's handling of Brexit as 'incompetent'.
PLEASE WATCH THE VIDEO BELOW
Mervyn King, the former governor of the Bank of England has called the government's handling of Brexit into question and said that it beggars belief that the world's sixth largest economy has got itself into this position with regard to Brexit.
However, before Remainers have a wet-dream over this, he did say:
"It doesn't tell us anything about whether the policy of staying in the EU is good or bad, it tells us everything about the incompetence of the preparation for it."
And he also said that it was not just the government that was to blame, it was parliament as a whole as well as the civil service that got us where we are now.
Now, to me that sums up 'the establishment' – government, parliament and the civil service! Now factor in the likes of the BBC and you can see why Brexit has been bodged.
It has been bodged on purpose, far from being bodged by incompetence it has been bodged competently by an establishment intent on bodging it!
And right on cue, the former Labour minister, Andy Burnham, who is now the mayor of Greater Manchester is calling for an extension to the Article 50 negotiating period as well as giving 'qualified' support for a second EU referendum.
He claims that the chances of a no deal Brexit are so high that the UK needs to ask for an extension to the Brexit negotiation phase to prevent a no-deal Brexit happening.
Of course he conveniently forgets to mention that a no-deal Brexit is a WTO Brexit and not a no-trade Brexit. In fact, all Remainers try to convince everyone that no-deal means no trade – at all.
And talking to the BBC Radio 4 Today programme Burnham said:
"So as a last resort, when everything else has failed, when we have tried to extend article 50 to get more time, then and only then should we consider holding a second vote."
And of course he claims that this is not about frustrating Brexit!
Moving on, I've just read a report in the Guardian where the headline and primary text paints a sorry picture for the UK services sector.
According to the piece, the services sector is being held back by a skilled labour shortage due to a lack of workers coming from the EU and it says that the latest IHS Markit/CIPS report "….suggested companies are being held back from carrying out their activities by the labour shortage".
So, I toddled off over to the ONS website to check out the latest population and migration report for August 2018 and lo and behold, the numbers of people coming into the UK from the EU are indeed falling – but, the numbers of people coming from the rest of the world have been increasing. So overall the result is about balanced out. And overall net migration it is still on par, if not above, the levels seen in the 2009 to 2014 period!
When looking at net EU immigration in isolation, yes it has fallen since March 2016, but once again it is still above that seen until 2013 – and the UK was not falling apart back then was it?
Are UK companies now saying they can only function with an ever increasing level of net EU migration? How on earth do the businesses in the EU countries these workers come from function then?
Then I wandered over to the Markit Economics website to take a gander at the latest IHS Markit / CIPS UK Services Purchasing Managers Index, where it said things like:
"UK service providers experienced a stronger increase in business activity and incoming new work during August. Improving business conditions helped to underpin a rebound in employment growth to its fastest for six months."
"At 54.3 in August, up from 53.5 in July, the seasonally adjusted IHS Markit/CIPS UK Services PMI® Business Activity Index reached its second- highest level since February.
"The headline index has posted above the 50.0 no-change mark in each month since August 2016, and the latest reading was slightly above the average seen over this period (54.0). Service providers linked higher activity to resilient business and consumer demand."
On the downside the report did though note that:
"….a lack of suitably skilled candidates to fill vacancies had held back staff hiring and constrained business expansion plans."
As well as:
"….business confidence regarding the year-ahead outlook dropped down to its lowest since March, which was attributed to political uncertainty and the unpredictable impact of Brexit on clients' business operations."
And that for me is the crux of the matter – we have 'resilient business and strong demand' but constraints caused by political uncertainty.
For me, a strong Brexit political leadership would have driven certainty and business would know where we are going as a result.
One extra point to note is that the Markit/CIPS report said that:
"Difficulties recruiting suitably skilled staff contributed to higher salary payments in August."
Are our workers going to be pleased with that? Or are they going to demand more migrant workers to fill the bosses' boots on the basis of increased diversity? What d'you reckon?