Published On: Mon, Aug 21st, 2017

'I don't want to be a doom-monger but..' Remainer lets rip at 'stalled' Brexit talks

The Remain campaigner expressed her concern over the risk postponing Brexit talks with the European Union could have on the value of the pound.

Discussing the issue on Sky News, Ms Thomas said: “If you look at the impact on investors and on what is happening to the pound today as a result of the Brexit talks stalling, I think the long-term implications aren’t brilliant.

“We’ve seen Sterling fall around 15 points and that has meant inflation rising higher than real wages.

“When prices in the shops go up, and consumers are complaining about higher prices, that is a real squeeze in people’s pockets.”

She said that like many others she wished that leaving the EU would have little to no repercussions on the status of the British economy, but the current value of the pound was not helping to reassure her.

Ms Thomas explained: “Of course, none of us want to see the economy being damaged and so if we end up out of Brexit and there isn’t any damage, fantastic.

“I don’t want to be a doom-monger, but I think the real impact of the falling Sterling and rising inflation is real and is there for everyone to see.

“So I wouldn’t say it’s all going swimmingly at all.”

Over the past year, the pound has been deeply affected by political and economic events.

Data showed the Sterling was struggling to regain its strength against the euro, with the exchange rate slightly climbing up to €1.100 from last week’s €1.094.

The chairman of Economists for Brexit Prof. Patrick Minford recently published a report claiming that hard Brexit could offer the British economy a “£135 billion annual boost”

Despite doubts over his calculations, Prof. Minford said: “The point to remember is that Brexit has brought a huge devaluation of 15% which is massively boosting manufacturing.”

Last week rumours emerged about a possible delay of the Brexit talks until December.

According to British officials, a postponement of the negotiations would give German Chancellor Angela Merkel the time to form a new government.

Brexit talks were due to resume on August 28, but EU officials claim the week will be used for a “fact-finding session” rather than actual Brexit talks.

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