I wrote this a couple of months after the referendum. How naive I was.
Having watched a documentary recently about the making of the London Olympics 2012 Opening Ceremony, I was reminded of the sheer skill, innovation and creativity possessed by this nation. This left no doubt in my mind that the UK is completely capable of making a huge success outside the EU.
The first thing the people of the UK need to do is to focus on positive outcomes and opportunities created by the historic decision to leave the EU. Everyone, including those who voted to remain, need to put aside all negativity and differences and anger. Whether you voted to exit or not, it is now going to happen and so all thoughts of doom and disaster are wasted energy and need to be put aside. Pessimism is a self-fulfilling prophesy and if you concentrate on what you think are the negative consequences of Brexit, you will drag the UK down.
Of course there is a risk to exiting the EU. However, there was always a risk to staying in the EU as it is a changing entity. A vote to remain was not a vote for the status quo. The UK will face challenges as it has always done and there will be those who lose out because of Brexit but there will also be those who gain. The EU however also faces an uncertain future. The Euro is in trouble and requires fiscal and budgetary union for any chance of survival. The EU’s economic performance has been poor and its share of world GDP is set to fall. It has failed to keep up with 21st Century globalisation and emerging markets. Further integration is not popular. The EU needs to change radically if it is to survive.
Now the UK has a new PM, Theresa May in place as well as a new Cabinet, the Government needs to appoint the best advisors and negotiators in the land who can help secure the UK the best deal with the EU. The Government should take its time to work out what the best outcome is for the UK before declaring article 50. The UK is in a good position to secure a favourable deal with the EU. We are the biggest importer within the EU and in fact import more from the EU than the USA. It is in the EU’s interest to work with us rather than against us.
The Government needs to ensure that our fishing industry regains rights of fishing areas that it has lost previously under the EU Common Fisheries Policy. EU laws that have had the effect of closing down fishing businesses and communities need to be reviewed.
It is important to remember that, although we have voted to leave the EU, we are still friends with our European neighbours and will continue to maintain a close relationship with them and support them in whatever way we can.
We should now open up to the rest of the world.
Our Government should secure and enhance friendships and relationships with other countries. They need to look at trading partnerships and free trade agreements (FTAs) with all countries we wish to trade with. Australia has already announced it wishes to look at trade deals with the UK. China and India are set to be the future trading powers so we need to start discussions with them. We could possibly forge a link with NAFTA (North American free trade bloc). We should look at our relationship with the Commonwealth and foster trade and agreements with our Commonwealth partners. The EU is the only trading bloc in the world that requires such stringent conditions on its members and this has stifled competition and productivity over a number of years rather than promoting it. We are the sixth largest economy in the world and so other countries will want to do business with us.
Our Government should ease its focus on achieving a balanced budget by 2020. Reducing our debt is still important but should now be done over a longer period and the Government should spend more money on capital projects to help counteract the slowing of growth. It should also look at reducing the tax burden further.
Our police and legal system should stamp down and eradicate racism and racist attacks on our fellow migrants as this is not acceptable. The UK is still a society that welcomes people of all ethnicities, cultures, religions and countries. Racism was not what Brexit was about.
The Government needs to ensure that all project funding commitments by the EU shall be stuck to until we have left the EU. Also, it should ensure that UK organisations and individuals are not discriminated by the EU leading up to our exit.
Once we leave the EU, the Government should commit to funding existing projects previously funded by the EU for at least another three years until it has a department or system in place to make decisions about continuing or ending project funding.
The amount that the UK paid towards the EU budget should be used for capital investment projects within the UK and also for improving and supporting the NHS. The capital projects to improve our infrastructure such as roads will help boost aggregate demand in the UK and help counteract any negative effects on GDP of leaving the EU. The Government should spend money to improve areas of our country that have been neglected or just need fixing.
UK exports will be cheaper due to the reduced value of Sterling. This is an opportunity to promote and increase what we sell to the rest of the world. We must take advantage of this.
UK imports will be more expensive due to the reduced value of Sterling and possible import tariffs. The Government could provide tax breaks to ease the burden on companies that import.
We should focus on buying British goods and supporting our businesses.
We have many of the greatest universities in the world and the Government should invest more via research grants to help boost our universities success even more.
The City of London has great financial institutions and London is one of the world’s top financial centres. It is renowned for its flexibility, resourcefulness, connections, highly skilled workforce, experience. The City with the support of the Government should ensure that it does everything so that it remains one of, if not the most attractive centre for finance in the world.
Finally, we, the UK need to stop underestimating what our country can achieve. Our history has shown what we can do. We still do and will continue to do. We were the pioneers of the industrial revolution. We invented the train, the telephone, the computer, the internet for example. We discovered penicillin, DNA, the laws of gravity. We have Shakepeare, Isambard Kingdom Brunel, Charles Darwin, Stephen Hawking, The Beatles, Florence Nightingale, just to name a few! Football, rugby, cricket all came from our country. Our reach and influence is global. We are not a great empire anymore and we have no desire to be but our systems of politics, law, finance are duplicated around the world. So let’s not underestimate ourselves. I have great confidence in our younger generation to continue what previous generations have done. They are bright, intelligent, skilled, energetic, creative. They and older generations have the ability to make a success of our exit from the EU. We all just need to believe in ourselves and remain calm and confident.
We have been in the EU for 43 years, not really a long time in the scheme of things.
So let’s not be afraid and let us take this challenge on and show what we can do!