Taking stock after shock of Brexit vote

FOR months, experts have been telling us the bank rate was almost certainly going to rise and then waxed lyrical on how much it would be.

This was, of course, before Brexit, for it has to be assumed no expert factored in the possibility the nation would vote to leave Euroland.

There is also a case for assuming the Brexiteers themselves had no plan ‘A’ let alone a plan ‘B’.

This is because it seemed to take some time after the referendum result for the nation to be told the method by which his would be achieved.

However, the reduction in rate may well prove costly, not only to savers in terms of interest lost but also the fact there is now a strong possibility banks may well decide to charge for holding cash, which for trading businesses would be a costly blow.

Then again, experts have been pushing for a start to be made on Hinkley Point C power station but, at the last moment, the Government has delayed signing the contract.

I hope it never will for who on Earth in their right mind would opt for technology which, at present, does not work to produce a product that will cost twice the current price from a contractor that cannot give a firm delivery date? Then finally, there is HS2. A variety of experts have been advocating the line should be built as quickly as possible to generate more business but the alliance forecasts the cost will be in the order of £90 billion, well above present estimates. I think they are quite right. I just wish the Government would have another look, balancing the estimated cost and inconvenience of HS2 against reopening long-closed lines with track beds in situ throughout the country, thus spreading the work load, and bringing great benefit to a much wider travelling public.

Completing the EdinburghCarlisle line, reopening the Exeter-Okehampton-TavistockPlymouth route, plus lines in the Midlands like the Sutton Park branch and the LongbridgeHalesowen loop, would relieve road congestion. Perhaps, the Government should listen to opinion from the coalface where cash counts. Russell Luckock is chairman of Birmingham pressings

firm AE Harris