Be careful what you wish for but be even more careful to check what you think you are voting for.
In an article in today’s Telegraph entitled “Now the vote is over, let’s move on with six steps to a bright future” here are a couple of the proposed steps journalist Matthew Lynn suggests:
… “We should scrap EU-mandated labour market regulations and social protections as fast as possible. There is no reason why we should accept European limits on how many hours people do in the office – so long as we have a minimum wage in place, which we do, then it is up to every individual how long a shift he or she wants to put in. Issues such as parental leave can be freely agreed between companies and staff. Employers who want to hire lots of young women, the best educated, most skilled part of the workforce, will be generous; others less so. But business can decide for itself.
… Finally, keep immigration at high levels. Many people who voted for Brexit wanted it to come down, but that is a debate for another day. Right now business is structured around a constant flow of new workers and although it can change that by improving productivity and using more robots, it can’t be done quickly.
For the first five years, the Government should aim to keep net migration around the 300,000 mark every year, even if it wants to change the mix to allow in more Canadians and Indians and fewer East Europeans.”
Matthew Lynn is a financial columnist and author. He writes for WSJ Marketwatch, The Spectator and Money Week as well as The Telegraph, and has worked as a columnist for The Sunday Tines and Bloomberg.