Source: Larry Elliott, economics editor, The Guardian, August 20
The government has responded to Brexit by soft-pedalling on austerity, by contemplating spending more on infrastructure and by committing itself to an industrial strategy. A degree of scepticism is warranted here. The referendum has made change possible: it doesn’t guarantee it will happen. It remains to be seen how many new roads and railways get built, or whether the industrial strategy amounts to anything more than a new name for Whitehall’s business department….
So instead of telling the public how hard life was going to be outside the EU, ministers and officials sought to reassure, to administer large doses of soothing balm, to insist that the UK could cope just fine on its own….
When I voted for Brexit on 23 June, I did so for three reasons: because the European Union is a failed project; because Europe is moving in an increasingly free-market direction; and because I wanted to shake up the status quo. It would take an extremely deep and prolonged recession to make me regret my choice. That prospect seems even more remote than it did eight weeks ago.