As every GCSE student of economics knows, if the pound falls against the Euro, then our exports to Europe become cheaper.
Even if the EU raises import duties against us, these will be offset by the depreciation of sterling, and British sales to Europe remain as they were before Brexit.
At the same time, however, imports from the EU, even without retaliatory tariffs levied by this country, will become more expensive, so the outcome will be many British customers switching from European produced goods and services to those made in Britain.
Thus, there is an opportunity for the UK to increase sales at home and create more jobs.
Producing more goods and services at lower prices, however, means we all have to work harder and accept lower incomes. It is vital that bankers, bosses of companies, politicians and other members of the UK establishment set the right example, and lead the way in making the necessary sacrifices. No chance!
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