Published on June 17th, 2016 | by Prospect


Tales from the river bank

A week is a long time in politics goes the saying attributed to Harold Wilson. During the EU referendum, it feels a lot like a single day is a long time in politics. Today, 15 June has seen a farcical river bound confrontation between Bob Geldorf and Nigel Farage: rival flotillas on the Thames gesturing at each other.

The day began with two budgets: one a so-called punishment budget from the Chancellor of the Exchequer, George Osborne should the UK vote to leave the EU and the other a Brexit manifesto from a government in exile?

The Osborne emergency budget, which he says will be necessary to fill a Brexit black hole of between £20-40bn, includes measures like a 2p rise in the basic rate of income tax, and spending on the police, transport and local government could take a 5% cut. Protected departments may also be forced to take a hit.


The Brexit team has proposed its own roadmap post referendum. It wants to introduce over subsequent sessions of Parliament: Finance Bill, to abolish the 5% rate of VAT on household energy bills by amending the Value Added Tax Act 1994, paid for by savings from the UK’s contributions to the EU budget; National Health Service (Funding Target) Bill, NHS would receive a £100m per week real-terms cash transfusion, to be paid for by savings from leaving the EU; Asylum and Immigration Control Bill, to end the automatic right of all EU citizens to enter the UK; Free Trade Bill and European Communities Act 1972 (Repeal) Bill, the European Communities Act 1972, will be repealed.


Elsewhere there is an interesting article by YouGov that drills down below the headline figures and looks at the issues driving voter intentions:

Also, from Martin Lewis presenter of Moneybag  It’s the biggest consumer decision any of us will ever make. It affects our economy, foreign policy, immigration policy, security and sovereignty. Our vote on whether the UK should leave the EU will reverberate through our lifetimes.

Finally, there is a useful guide to the issues from the Economist magazine: The Brexit brief:






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