Flagging: The UK’s economic performance could be boosted by leaving the EU
by Allister Heath
As Lenin famously put it, a lie told often enough becomes the truth. For some in the City, Brexit is a bit like bad weather, or major sporting tournaments: a convenient excuse for businesses facing a tough time.
Of course, bad weather can depress a retailer’s sales and football games can distract workers – but four times out of five, such “explanations” are merely trotted out to camouflage deeper, more genuine problems.
The same is true of the uncertainty surrounding a possible Brexit: some investors are doubtless waiting for the results before they allocate capital. So Brexit jitters will be having some – marginal – impact on the economy, in the same way that some transactions were doubtless delayed by a few weeks before last year’s election.