UK’s bright future
TWENTY-FIVE years ago today, Britain crashed out of the European Exchange Rate Mechanism – the prelude to the euro. the Major government was humiliated, the pound was devalued overnight by 15 per cent and most economists predicted a protracted slump.
But, surprise, surprise, the lower pound led to a surge in exports and three years later the economy was booming.
Following the Brexit result, a similar devaluation has happened and all the indicators are that it’s having the same effects, with figures published yesterday showing that exports have risen by 9 per cent in the last year.
Despite this, not a day goes by that the BBC, Financial times or Confederation of British Industry don’t paint an apocalyptic picture of Britain’s future outside the EU. these organisations are constantly talking this country down at the very time it’s crucial we should be showing unity.
For a very different perspective, read the interview with sir James Dyson – arguably Britain’s greatest living industrialist – on pages 42-43.
For him – and for many other dynamic business leaders – Brexit is not a problem. It’s a massive opportunity.