In a country polarized and paralyzed, an unchecked authoritarian right-wing populism, Trumpism without Trump, is coming to define the political culture.
David Bowie died, and it was all downhill from there. That’s how 2016 felt if you were on the losing side of Britain’s referendum on membership in the European Union.
Post-Brexit Britain is now mired in crisis. The ruling Conservative government, lacking any coherent plan for leaving the union, is embroiled in a bitter legal fight over the process, while a divided opposition contemplates the disintegration of its electoral coalition.
New York Times
How do you take your Brexit? Soft or hard? Quick or slow? It might all seem semantics but for the UK and Europe it is the £1.1tn question. That is the amount banks based in the UK are lending to the companies and governments of the EU27, keeping the continent afloat financially. The free trade in financial services that crosses the Channel each year, helping customers and boosting the economies in the UK and Europe, is worth more than £20bn.
Brexit means Brexit and we are all Brexiters now. But if we get it wrong, that £20bn trade in financial services is at risk. The Guardian
Parts of Theresa May’s speech were however very ‘Keynesian’.
“People with assets have got richer. People without them have suffered. People with mortgages have found their debts cheaper. People with savings have found themselves poorer. A change has got to come. And we are going to deliver it.”
Earlier in the week Chancellor Philip Hammond confirmed the Government would also ditch Mr Osborne’s target of balancing the budget by 2020 – a symbol of the austerity era – adding that he was instead willing to borrow more to invest in infrastructure.
The shift in economic policy dovetailed with the broader message of her speech, in which she pledged a more interventionist Government and put big business and the rich “on warning” that she would chase them if they broke rules. The Independent
Balancing the budget a symbol of the Austerity era? Does that imply that the Austerity era is over, at least in Britain? I am very suspicious.
Tory MPs who followed the former Prime Minister fear his successor is pulling the party to the right and are preparing for a fight. Ms May is under pressure from the right wing of the Conservatives to maintain a strong position on leaving the European Union. The Independent
Tory infighting is never a bad thing.