As coaches carry the same small group of late middle aged, blue-face painted, EU flag-swathed federalisation-obsessives to London for yet another pointless “People’s Vote” march, it’s worth noting that – for all the political turmoil – the economic prospects of the UK continue to look positive. In fact, we are awash with good news; proof, perhaps, of the old adage that the less politicians interfere with the economy, the better it does.
Whilst taxes are still undoubtedly too high, and regulation too stifling, the picture is encouraging. Government borrowing is at its lowest level since 2001-2002. Unemployment has fallen to 3.9 per cent, its lowest level since the mid-70s. Average earnings are up, way ahead of price rises. As James Knightley, an economist at ING, said: “Taking it all together it suggests the UK economy is in better shape than many had been believing.”
The evidence directly exposes the Remainer doom-mongers, who have been screaming about an economic apocalypse since before the 2016 referendum – and have been proved wrong over and over and over again. Meanwhile, on the continent, the situation is far less rosy. Italy and France are in the economic – and political – doldrums. Greece is ravaged by unemployment, with youth unemployment hovering around 42%. And Germany is wrestling with a sudden decline in manufacturing industry; its auto sector reeling from a slowdown in China, whilst facing an added threat from a US administration with its sights set on German car imports.
It seems extraordinary that, in the light of the facts, we are stuck with a political and cultural class who want to take us kicking and screaming back into this mess. The EU is structurally incapable of dealing with its many problems; the EU elite’s fixation with meshing such wildly different economies together ensuring that the most appropriate medicine for each individual nation’s problems can never be administered. As hardline Remainers upload their beaming selfies to twitter today, I can’t help but wonder: ‘Did they really know what they were voting for?’.
Tim Dawson is the Editor of Britain’s Future. Follow him on twitter: @tim_r_dawson