SO, 18 MONTHS AFTER THE REFERENDUM, HOW BAD IS ARMAGEDDON?
A BREXIT FACTS4EU.ORG SHORT SERIES (PART 1)
Well, let’s see:
Jobs are up
Unemployment is down
GDP is up
Manufacturing is up
The pound is up
Exports are up
Foreign investment is up
Global attractiveness is up
Yes, things are pretty bad…
Before we give you some detail, we should stress that it’s always possible to find poor economic statistics amongst the thousands of official figures which are released each year. What’s important, however, is the overall message which a non-specialist reader can discern from a wide range of indicators.
You don’t have to be John Maynard Keynes to decipher the message that the UK hasn’t plunged into the economic Armageddon you were threatened with, if you voted Leave. In fact the news is really rather good. Let’s start with jobs.
32.08 million people are employed, the highest ever. Since the Referendum, an extra 323,000 more people have been employed.
The unemployment rate is 4.3%, the lowest for 42 years. This has fallen significantly since the Referendum, when it stood at 4.9%.
The latest annual average wage growth figure stands at 2.5%, unchanged since the Referendum. In other words your income isn’t exactly growing spectacularly, but then it wasn’t before the Referendum either.
So, more jobs – the most ever – and wages are growing at the same rate as before the Referendum. Some of the lowest paid were suffering worst, because the enormous and uncontrollable levels of immigration into the country meant that large employers had a ready supply of cheap labour from the EU.
This remains the case until we leave, but unfortunately it appears this may take a while unless the government comes to its senses. The current plan is to acquiesce to freedom of movement until at least 2021.
The job losses threatened by the then government of David Cameron, packed with Remainers such as George Osborne (now Evening Standard Editor), Phil Hammond (current Chancellor), Amber Rudd (current Home Secretary), and Theresa May (current Prime Minister) ranged from 500,000 to 880,000. These were job LOSSES.
In fact jobs have been created since the referendum, not lost. Osborne, Cameron and their appalling bunch of cronies could not have been more wrong.
Jobs are real. They matter. They bring money into homes which is then spent in the economy at large. They generate tax revenues which pay for public services.
Jobs make for happy people with a sense of worth and pride in themselves. They help to fund our local communities and ultimately they give our country cohesion. They also point to a bright future for our post-Brexit world.
The facts we have shown you above are very positive. It simply isn’t possible to ‘spin’ these. If you’re talking to Remainers over New Year just remember: jobs are up, unemployment is down, wage growth is unchanged. Not bad, for Armageddon!