On Boris and Business

Show some sympathy for the poor British businessman, who will soon have to choose between a man who openly dismisses any concerns about the economic impacts of Brexit and a man who just hates capitalists, period. My guess is that there will be lots of votes and contributions for the Liberal Democrats among this crowd.

Assuming, as I do, that no-deal eventually occurs, there is likely to be a run on the pound, as money moves out of the UK and into safer havens. New investment, already meager, is likely to shrink even further as business interests try to figure out what happens next. Even if the immediate concerns about shortages and the like turn out to be overblown, there are going to be major adjustment problems. How will Boris handle them?

Through nonstop jawboning–both boosterism and threats. On the one hand, you can expect him to be the cheerleader-in-chief for the economic prospects of his new UK in order to boost morale and investment; on the other, I’m guessing you’re going to hear plenty of talk about capital controls and other new regulations on business to maintain stability during the transition period. In the end, don’t be surprised if Boris winds up sticking his nose deeper into British business than a pro-Remain government led by Corbyn ever would have. How’s that for irony?