Brexit

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A place to debate and discuss the UK's exit from the European Union. Be Kind and Courteous.

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‘We told you so’: Brexit to blame for soaring inflation, former Bank of England boss (web.archive.org)

submitted 1 year ago by [email protected] to c/[email protected]

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“We [the Bank] laid out in advance of Brexit that this will be a negative supply shock for a period of time and the consequence of that will be a weaker pound, higher inflation and it will end weaker growth,” he told The Daily Telegraph. “And the central bank will need to lean against that now that’s exactly what’s happened. It’s happened in coincidence with other factors, but it is a unique aspect of the economic adjustment that’s going on here.”

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[–] [email protected] 2 points 1 year ago (1 children)

Important decisions like that should always be some sort of majority vote, the way all of it came about is just odd

[–] [email protected] 2 points 1 year ago

Technically it was a majority vote. It's just the arrogance of the people that set up and agreed to the referendum that thought nobody would vote for it meant that they didn't define what the majority should be. >50%, 60%, 75% etc. It was a massive failure of state craft made easier because the case to remain hinged on a "if you're not with us you're a racist" argument that didn't go down well to win people over.