April 2016
A Different Take on Brexit
" Brexit would see the UK return to its status as a cake - filled misery - laden grey old island . " Emma Thompson, Actress
As political manifestos go, this will likely go over in history as the most useless ever. When I married my wife many moons ago, she asked me to make two promises, one of which was never to become a politician. Never! Once you have read the next few pages, you will probably agree that I did the right thing by never pursuing a career in politics. Having said that, the Brexit debate here in the UK is rather silly, and it is about time that (some of) the more meaningful issues are raised. I can understand why politicians bring the discussion down to a level that the average person in the street can understand. I would certainly put well over 90% of the electorate to sleep with the points I raise in the following, but to make it a referendum about kettles and toasters (see here) is perhaps to underestimate the IQ of the average voter. Little time has, at least so far, been allocated to the bigger picture; to things that really matter. Instead the media thrive on stories that sell newspapers. I cannot possibly cover all the pros and cons in a single Absolute Return Letter, and have therefore decided to focus on issues that are likely never to be thoroughly covered in the mainstream media. My aim is to make this letter as factual as possible, but emotions do run high on this subject, and I am no exception. I will look at the pros as well as the cons because, as is almost always the case, this is not a choice between black and white. And because I cannot vote (as I am not a British citizen), I am sort of neutral. That said, of course I have an opinion, which I will spell out later in this letter. One final note before I begin. We have had a substantial number of new subscribers in the last few weeks (thanks to John Mauldin), some of whom I may lose over the next few pages, as this month's topic is very UK-centric in nature. All I can say in my own defence is that this month's letter is very atypical in nature, so don't give up. I have no plans of becoming a political activist. I just get loads of questions on the subject.
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