Thursday, June 09, 2016

Guest Economist

We welcome Sir Bob Cashless to the blog. I will put to him your questions on the future of the economy.

St: Sir Bob. People say that leaving the EU will be the best way to drive up the wages of the poor.

SB: That's right.

St: It will?

SB: No. People are saying it.

St: But will it?

SB: If we manage to negotiate an out deal without free movement of people, which Norway and Switzerland didn't manage, then cheap labour from overseas will fade away over time and employers will be forced to offer more to attract strawberry pickers, care-home workers and chicken pluckers.

St: That's good isn't it?

SB: As long as they can afford the increased cost of chicken, fruit and care?

St: Not a huge increase though?

SB: Well in addition to that price rise the food prices also have to go up to cope with the EU agriculture support grant now going to the NHS.

St: They aren't going to do that.

SB: I know I was joking. But we are about to see a temporary, but massive, drop in the economy so nobody will be able to afford strawberries anyway.

St: At least it's temporary.

SN: Oh yes. The pound should be back to its 22/6 level within five years or so. Do you know anyone who wants a job picking fruit?

St: Thank you for your optimism.

SN: No problem. Fill up this glass will you?

Sir Bob will be back when he needs more money.

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