Full yet?
You wont see this on the BBC news but the last three quarters have seen the biggest improvement in the UK trade balance ever in history … EV-ER.
This is precisely, exactly what the Remainiacs swore would NOT happen if we became an independent democracy again.
The full dataset is here if you want to satisfy yourself I'm not making it up.
Let's break the graph into segments to see if any pattern emerges shall we? Here is the dataset from when records began in 1955 up to when Thatcher signed the Single European Act in 1986 and we began integrating:
We can see it bounced around as trade increased, but we generally stuck to the zero line which means balanced trade (equal imports and exports). This is what happened next:
I see a line from top left to bottom right – a total absolute collapse in our current account balance as we became more integrated into the EU. From Thatcher signing the Single European Act to our vote to leave we went from balanced trade to a deficit of £27,000 million. Four decades of membership had left the UK with a bigger trade deficit, per head of population, than the US had with China! Wasn't the whole point of membership to improve trade? So what happened next? This:
Enter your text here ...
I see a line rising from left to right. Since our vote to leave we have gone from minus £27,000 million to minus 2,000 million. If we carry on improving at this rate then by the end of the year we will have balanced trade again.
Summary:
Before EU – Good.
During EU – Collapse.
After EU – Recovery.
Spot the pattern?
For more on this subject I recommend 'Brexit, Kant and Othello' by S. James which available on Amazon.
Reprinted with permission of the author: Sebastian James
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