The jingoistic stance from the Government in the wake of the Brexit vote did little to support the Pound for the past 8 months, and after a long drawn out period in Brexit limbo the Government are finally showing signs of a more constructive Brexit.
It will come at a cost to Theresa May, but the toss up between implementing the ‘will of the people’ or the self-destructive nature of a hard Brexit is finally hitting home at number ten.
Concerns that 90% fewer EU nurses joined the NHS since the Brexit vote have already weighed heavily on the NHS and its funding, ironic given the promises made by the Leave campaign’s bus.
Perhaps the reality has hit home for May, no such extra funding for the NHS exists and it never did. Instead, the Government are faced with a huge bill which under current EU guidelines, will need to be paid before any Brexit discussions take form.
It isn’t just Theresa May that’s had a wake up call in recent weeks, an almost like for like scenario is unraveling in the US. Donald Trump, the man that promised a return to US protectionism, has been faced with the reality of being President. Whilst his intentions remain somewhat unclear, the images of dying Children in Syria pulled some heart strings and his actions came at a cost for US-Russian relations.
His meeting with Chinese President Xi Jinping was another political shock given his distaste for the Chinese economic model and more specifically, their currency, but given the meeting at his home in Florida was reported as friendly and constructive it would seem the President has had another change of heart.
They’re not currency manipulators,” Trump told the the Wall Street Journal at an interview on Wednesday.
Keep your enemies closer
Are the UK Government finally coming to terms with the huge hurdle it faces? In a world of globalisation, a return to British patriotism and protectionism will do nothing to help the many sectors of the UK economy that rely on open trade with the EU. London’s status as the Financial hub of the World relies heavily on common EU frameworks, and Theresa May knows the risks involved in a ‘no deal’ for Britain.
There will be some scope for negotiations I am sure, but with one country up against 27 The Government’s softening approach to Brexit will do more good than harm for both the UK economy and its negotiating position.
