In all the moaning and fears produced by the prospect of Brexit the biggest was the fear that the pound would come down. It has - without us having brewed it. Down 8% already on top of the 6% before.
A good thing too, and with any luck it should come down further. That's a huge benefit to exports-which were flagging before the fall. It's a tax on imports which were far bigger than we could afford. It will make it more expensive for the wealthy to buy villas in Monaco and yachts on the Med but before our hearts bleed too much for them, let's remember that it will mean we export more cars,s ave British steel and boost engineering, ensuring more jobs and economic growth.
The pound had to come down if we were to pay our way in the world and only the prospect of Brexit and the blow to confidence produced by the referendum vote could do it. Instead of moaning how naughty the British people were for voting as their betters told them not to, we must now seize it, invest in exporting industries, boosting help and support for exports and turn the economy back into the powerful economy it once as.Then the devaluation will become the key to growth as the 1992 devaluation gave us a decade of falling unemployment.
Go for it! Don't let Osborne ruin it.We have nothing to fear but the EU itself. The Euro has turned our major market into a low growth high unemployment black spot.Which is why we now need to use our new competitiveness to win new markets.The cost of membership and the Eurogeld are a drain on Britain's economy and should be shed.
It would be a national tragedy now to throw away this opportunity to get back to growth and restructuring Britain's failing economy