Although the UK is still fully part of the EU and still enjoys full access to the EU market, the economy has already suffered.
At the moment, this is not obvious to the general public as relocations of companies and the slowing down of productions take time to filter through. However, reliable papers like The Times, The Independent, the Observer and the Guardian daily report dismal news.
Ryanair has announced its plan to move its headquarters from Stansted to the Continent, and to reduce its flights within the UK. It wants to negotiate new routes in Europe.
Easyjet has published substantial losses since the collapse of the pound on 24 June, as people can no longer afford to fly to the Algarve or the Greek Islands. It too plans a restructure.
Before the referendum, Airbus had written to its 17,000 employees, warning of the dangers of leaving the EU. It has now predicted job losses.
Fortera, the brick makers, announced before the referendum that it would reduce its production if the Leave vote won, as this would damage the construction sector. It is now closing two of its factories in Lancashire – in Accrington and Cloughton. Lush Cosmetics, based in Poole, is now relocating to Germany, as it had promised to do before the referendum.
During a recent meeting in New York, the huge American banks Goldman Sachs, Morgan Stanley and Blackrock have threatened Theresa May to shift their operations from the UK to Europe as they cannot see a clear future for the EU-UK relations.
Malcolm Turnbull, the Australian Prime Minister, was so irritated by reports in the right-wing tabloids that Australia had offered a fast-track trade deal with the UK, that he issued a terse statement explaining that Australia’s priority was to negotiate a trade deal with the European Union, and that no negotiations would take place with the UK until the country has successfully left the EU and regained stability. Canada and the US have also made clear, repeatedly, that they would rather have trade deals with the EU than with the UK.
There is still time to stop the damage. Parliament should decide whether leaving the EU is beneficial to this country. There is a petition on the net (Let Parliament decide whether or not we remain in the EU) which is collecting an increasing number of signatures as more and more people realise the dangers Brexit poses to their jobs and the future of their children.
M M GRAVES
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