The 1922 Committee sets the rules for the Tory party. It has finally had enough of Theresa May’s tactics. No doubt devastating poll results and local election disasters triggered this long overdue event.
Correct on All Points
- UK loses independent trade policy
- UK subject to whims of EU negotiators
- No leverage
- Loss of foreign policy influence
- Subject to blatantly harmful decisions
- Political madness
The letter left out one key point. The UK would have to pay into EU coffers every year for this disastrous result.Walking away would save the UK 39 billion pounds up front and ongoing payments every year.
With those drawbacks it economic idiocy to support a customs union, but Labour does.
Labour Very Concerned Over a Deal
Sir Graham Brady is chairman of the 1922 Committee. Note that Boris Johnson is one of the signers.
John McDonnell, the shadow chancellor (Labour) addressed his concerns on this today as noted by the Guardian Live forum.
McDonnell said today’s letter signed by Boris Johnson and others attacking the customs union plan made it harder for Labour to agree a deal with the government.
“We get a letter signed by a number of senior Conservatives, published this morning, by Boris Johnson … who is certainly going to be in contention for the leadership. Very likely to be the next leader. Could well be prime minister in, literally, months, and in a situation where he in his letter today says he is not going to accept a customs union, and, actually, he will overturn the deal that we … negotiate.“
Second Referendum
McDonnell wants a second referendum but there is no stomach for one. Even if there was such a proposal, the EU would likely not wait.
McDonnell also admits he is a socialist remainer and claims Corbyn is too. “Deep in my heart I’m still a remainer.” Asked if Corbyn was also still a remainer in his heart, the shadow chancellor said: “Yes.”
Labour’s Problem
Jeremy Corbyn has not taken a firm stance on anything other than wanting a disastrous customs union.
Corbyn wants a second referendum only as a last option.
Like the Tory party, Labour has splintered into avid remainers, avid leavers, and some who want a customs union.
Corbyn has tried to please all the Labour factions but it cannot be done.
Infighting Benefits the Brexit Party
The huge beneficiary of this political infighting was Nigel Farage’s Brexit Party.
Also note that the National Institute of Economic and Social Research (NIESR) found that Jeremy Corbyn’s Proposal Would Hit Britain’s National Income by £80bn a Year.
For discussion of these points, please see Brexit Party Surge: Tories Drop to 5th Place in European Parliament Polls.
Mike “Mish” Shedlock
Create a free port system with Russia instead. Shock everyone…..oh, wait I forgot that “Russia, Russia, Russia” meme in which British lap dogs obey the US
Amazing that the 1922 committee has waited so long to act. The Conservative Party is in danger of being relegated to minor party status. It has already lost tremendous respect and support from its members and the voters. If the Tory MPs don’t find a way to get rid of Theresa May soon, there will be nothing left of the party. She is a parasite, destroying the party from within.
There is one major problem with the Brexit party that has yet to be exploited but will be soon. There are revolutionary Communists standing along with Farage. I kid you not. Check out Clare Fox. The liar has bitten off more than he can chew.
He appears to be the most ‘sane’ among the politicians there!
Rest is moot!
“I’d have been pushing for UK to join USMCA”
Trump prefers bilateral deals
The best thing for the UK to do is the same as the US. Abolish all tariffs regardless of what the other nations do.
Mish — as an expat Brit I’ve been stunned by the lack of imagination among the UK politicians. I’d have been pushing for UK to join USMCA (don’t see why a land border is relevant). It would be a win on all sides, give UK leverage against Brussels, and besides what’s wrong with an outright trade deal that doesn’t come with the federal political baggage?
As a (naturalized- US) citizen, born under British colonial India, see the hand of KARMA blow back of their policy’ ‘divide & rule’ for nearly 200 years they did for their colonies!
Isn’t that poetic justice, that the same malady has multiplied in various forms and affected their society and Nation’s soul!