Monday , December 23 2024
Home / John Quiggin / Brexit: The endgame

Brexit: The endgame

Summary:
On 29 March this year[1,2], if nothing else changes, the UK will leave the European Union under the terms of Article 50. Unsurprisingly, lots of scenarios are being scripted, but the one I see as most likely doesn’t seem to be among them. I expect that nothing much will happen until about 28 March. May won’t get a deal that can pass through Parliament. If she allows a vote at all, it won’t be until late January and it won’t pass. At that point, or possibly before, Labor will try a motion of no-confidence which will also not pass. There will be a push for a second referendum, but that will be stymied by the fact that the current law requires a minimum of 12 weeks to hold such an exercise, and that will be too late. There may also be an attempt to get an extension of time for the

Topics:
John Quiggin considers the following as important:

This could be interesting, too:

Merijn T. Knibbe writes Christmas thoughts about counting the dead in zones of armed conflict.

Lars Pålsson Syll writes Mainstream distribution myths

Dean Baker writes Health insurance killing: Economics does have something to say

Lars Pålsson Syll writes Debunking mathematical economics

On 29 March this year[1,2], if nothing else changes, the UK will leave the European Union under the terms of Article 50. Unsurprisingly, lots of scenarios are being scripted, but the one I see as most likely doesn’t seem to be among them.

I expect that nothing much will happen until about 28 March. May won’t get a deal that can pass through Parliament. If she allows a vote at all, it won’t be until late January and it won’t pass. At that point, or possibly before, Labor will try a motion of no-confidence which will also not pass. There will be a push for a second referendum, but that will be stymied by the fact that the current law requires a minimum of 12 weeks to hold such an exercise, and that will be too late. There may also be an attempt to get an extension of time for the Article 50 notice, but at least one of the EU27 will find a reason to block it.

May will keep stalling for time, as she has done since taking office, until the deadline approaches. At that point, the ports will start to clog up, as shippers try to move goods across the channel before the No Deal exit. There will be attempts to negotiate temporary “No Deal deals” to smooth the flow, but they won’t go anywhere. By March 28, or maybe a bit earlier, panic buying will empty supermarket shelves and stockpiles of medicine.

At that point, the prospect of NO Deal will become too terrifyingly real to contemplate and there will be only one option left. Britain unilaterally revokes its Article 50 declaration, and everyone agrees to forget the whole sorry business.

Feel free to point out plot holes, or suggest your own script.

fn1. Rather less momentously, I will turn 63.
fn2. It’s generally good to be cautious about revealing your birthdate online. But mine is on Wikipedia, so I guess there’s no harm in that.

John Quiggin
He is an Australian economist, a Professor and an Australian Research Council Laureate Fellow at the University of Queensland, and a former member of the Board of the Climate Change Authority of the Australian Government.

Leave a Reply

Your email address will not be published. Required fields are marked *