Brexodus

All across our green and pleasant land, we hear, people are upping sticks and heading east. East to the lands of the rising sun. East where opportunity still knocks and trade flows freely. East to Paris. East to Bonn. East to Europe.

It’s Brexodus. People and companies leaving the UK because they believe that Bexit will make them uncompetitive or unwelcome here, or both. Or – to go by the examples given in Naked Capitalism’s latest report on the dire progress of Britain’s deluded Brexiteer negotiating team – it’s ‘Techsodus’.

Tech companies can’t find enough home-grown talent to grow themselves in places like London’s silicone roundabout – which I used to peel across on a motorcycle 30 years ago when it was still just dirty tarmac and fag butts. Smart IT euro-dudes have jumped at the chance to live in London and take the offered jobs. But Brexit will nix the UK as a worthwhile career option in a self-perpetuating spiral of work restrictions and departing employers. The euro-dudes can simply remain chez eux while ‘our’ jobs transfer across the channel to them.

Leavers argue that this is precisely the opportunity plucky Britannia needs. To forge a dynamic, sovereign, digital training sector to supply our own dynamic, sovereign, silicone industry. Well we could. But it will take three to five years to turn around. Why do pro-leavers think that employers – who can base their businesses anywhere in the world with electricity and broadband – are going to stay put and stagnate while they wait?

At least digital businesses have the advantage of mobility. What the clowns in charge of Brexit are threatening to let happen to UK motor manufacturing is truly frightening.

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