There is no ‘People’s Brexit’

10th March 2017 Socialist Action 0

By Tom O’Leary

The certainty that Brexit will push living standards lower is not really a forecast- it is already happening. Immediately following the referendum the pound fell sharply and has more or less stayed at that lower level since. The 13 per cent decline means that CPI inflation is moving remorselessly higher and will continue to do so. Higher inflation means lower wages and incomes in real terms.

Autumn Statement shows Brexit makes us poorer

8th December 2016 Socialist Action 0

The article below by Tom O’Leary provides an analysis of the recent Autumn Statement including the forecasts for growth and living standards that have been revised sharply lower by the Office of Budget Responsibility. A key point is that the OBR is clear: around 60 per cent of the cuts made to those forecasts are a result of the Brexit referendum vote. Brexit will make us poorer.