Disaster – for you and me

Oh dear. The people of the UK have just inflicted upon themselves the most astonishing act of economic and even constitutional sabotage.

Of course, it is a disaster for David Cameron, whose whole legacy will be this calamity.

It is a disaster for the pollsters, whose industry is now irreparably tarnished.

It is a disaster for the bookies, who took a pounding.

It is a disaster for the winners, who have no economic or political plan they can possibly hope to implement in practice.

But none of that really matters.

What matters is that it is a disaster for you and me (if you live in the UK or its territories). Already, your and my cost of living has soared in effect 10% – everything is suddenly 10% more expensive versus what you earn and hold in wealth; and your and my assets, if you are lucky enough to have them, have suddenly decreased in value similarly.

To be honest it doesn’t really affect me that much – I’ll have to watch what I spend on a couple of foreign trips later this year maybe, but I can probably work a little harder and make up most of any gap.

But if you are on low or fixed income, you won’t be so lucky. Suddenly everything is 10% more expensive, maybe more; and that includes the provision of public services and perhaps welfare upon which you may depend. You are, instantly, materially worse off. And yet if you are in that position, the chances are you voted for this to happen.

That is the disaster.

The UK will reach an arrangement with the EU – we can only hope that neither will be diminished too severely. The UK itself may manage to stay together, though it is hard to see how – it is clear that Scotland (and Northern Ireland to a point) voted decisively in one direction while England and Wales chose another. In the shorter term there will be a change in Prime Minister and Chancellor. But none of that really matters.

The fact that people on fixed incomes have been hoodwinked into doing something which will only make their lot worse is what really matters. Yet the reason they have done so is that they feel no one is listening – and still, no one is. Not the media. Not the new Prime Minister. Certainly not Nigel Farage.

That is the disaster.

Democracy relies on people participating and making informed choices. In this Internet age, with the raft of information available, the irony is people are no longer doing that. And, as ever, it is the worst off, on the low and fixed incomes, who will pay the price of populist rantings.

That is the disaster.

We live in interesting times. But, frankly, I’d rather not.

 

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5 thoughts on “Disaster – for you and me

  1. korhomme says:

    So, it’s Brexit for the UK as a whole. But already there are calls for a second referendum in Scotland, and SF talks again of a united Ireland.

    David Cameron’s legacy; the man who broke the EU and broke the UK. An even worse PM than the unhappy Lord North.

    • Seymour Major says:

      David Cameron will not have caused the break up of the EU. If that would be the result, Brexit would be regarded as a resounding success. Maybe you meant to say “broke away from the EU” instead of “broke the EU”

      As for the UK breaking up, we will see. It is not necessarily the case that the Scots would vote for independence in a referendum to leave the UK. For one thing, the outlook for North Sea Oil revenues (SNP’s trump card) is getting worse by the day.

      I also don’t necessarily agree with the word ‘disaster’ to describe the current situation. I voted for remain but that was on the basis of balance of risk and uncertainty and not because I particularly liked Europe. There will be short term economic diminution. As for the medium term, there could be net gains. It is very much a case of ‘wait and see.’

      • I would note that, in this referendum, people ignored their economic interests.

        So if anyone things the price of oil will play even the remotest part in the next Scottish referendum, they haven’t learned a thing from what has just happened.

        Scottish independence is not certain, but it is now likely, and soon.

  2. Other Paul says:

    I’m pissed, really pissed.
    At the Labour party who chose the wrong brother.
    At Cameron who called this in the first place
    At the remain campaign who were ducking hopeless
    At the older generation and their intolerant views
    And finally at the UK nationalists who have lit a fire under the regional nationalists.

    Border poll!
    Border poll!
    Border poll!

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