Brexit

Boris Johnson is Preparing His Own Bailouts

JM Ashby
Written by JM Ashby

Members of Boris Johnson's administration have proclaimed that the British economy is strong enough to absorb the impact of a hard Brexit, but we know they don't really believe that.

We know they don't believe that because they're preparing for the "collapse" of entire industries. British officials have reportedly drafted a list of companies that will need a bailout to survive.

(Reuters) - Prime Minister Boris Johnson is drawing up plans for a bailout fund to prop up businesses in the event of a no-deal Brexit, The Times reported.

The government has drawn up a secret list of big British employers that are considered to be most at risk of collapse and the construction and manufacturing sectors are expected to be the worst affected, Times said.

Michael Gove, the government minister responsible for planning for a “no-deal Brexit”, confirmed for the first time that ministers were working on a package to help companies at risk, the newspaper added. Johnson’s Brexit war cabinet is expected to discuss the bailout plans, known as “Operation Kingfisher”, next week, the newspaper said.

Operation Kingfisher is going to need a bigger boat, or at least a bigger list, as the British farming sector loses free access to 500 million consumers after the Brexit.

The fact that the Johnson administration is going to such great lengths to plan for the potential "collapse" of entire industries puts the lie to all of their various happy talk about a post-Brexit future in which England flourishes and reconquers itself. Johnson himself recently said that Britain will harness their "can do" spirit to emerge better than ever after a hard Brexit, but he evidently does not believe that they can spirit their way out of collapsing after isolating themselves in a global economy they've been tightly integrated in for decades.

Maybe that's the biggest difference between the Trump and Johnson regimes. The Johnson regime doesn't believe their own bullshit.

This could all be avoided -- the British government could avoid going into debt to pay for bailouts -- by simply canceling the Brexit. Just don't do it. They're still a member of the EU today and they could be after October.

  • muselet

    I’m certain Boris Johnson thought Brexit would be his ticket to Number 10. I’m almost as certain he never thought he’d have to deal with the consequences of the Charlie Foxtrot he helped create.

    The man is an idiot.

    –alopecia

    • He is. He’s the UK Trump; a bully without conscience. But then, he fits perfectly into the Tory party, as they are the same.

      • Draxiar

        KanaW, you’re in the UK, yes?

        • Yes, in Bristol. One of the bastions of remain.

          • Draxiar

            Glad to have you with us (I know, you’ve been here a while)! I appreciate the insight you can give us on the goings-on over there.
            When I went to England in 1997 (I was in my early 20’s then) with my parents we stayed at a manor just outside Warwick. There was an adjacent thorp that had houses for rent that were part of the timeshare network my parents belonged to. I look forward to going back someday.

          • I’m lucky enough to have dual citizenship (Mum from England, Dad from Florida). I used to live in the US (all over the place Dad in USAF), then after 6 years in Hawaii (I was there about the same time as Bob, but on a different island) I moved here almost 4 years ago. Lucky for me, because I’m diabetic, and since it’s chronic disease, I don’t even have to pay the £8.50 per prescription.

  • waspuppet

    This could all be avoided — the British government could avoid going into debt to pay for bailouts — by simply canceling the Brexit. Just don’t do it. They’re still a member of the EU today and they could be after October.

    You sure about that? Doesn’t the EU have to decide to take them back in? And have they indicated that they would?

    But yeah it’s remarkable that ever since the 2016 vote Brexiteers seem to think it will work out better if they DON’T prepare for it.

    • muselet

      It’s complicated.

      If the UK came to its senses and cancelled Brexit, the EU wouldn’t have to take it back, but not doing so would be an act of madness to rival Brexit, and there are (probably) enough sensible people in the EU for that not to happen.

      Mind, the EU wouldn’t necessarily let bygones be bygones. I imagine the UK would have to sit on the naughty step for a while, but I doubt the EU would insist on full integration of currency or something unacceptable like that.

      The EU wants access to the UK market. That would smooth over a lot of hurt feelings.

      And yeah, not planning for something huge is really stupid. Almost as stupid as believing the EU would bow to British demands just because. Sheesh.

      –alopecia

      • The EU has stated many times that all the UK has to do is cancel Article 50, and we’ll remain in the EU without any changes to our current deal. Sadly, with the new ruling in the EU that stops rich people from hiding their income amongst many countries and paying taxes on none of it, the rich bastards running the UK will happily crash out of the EU with no deal, because they can make £££ on economic win or lose.

        • muselet

          There’s been so much inaccurate commentary about Brexit, I got myself confused.

          Thanks for the clarification.

          –alopecia

          • You’re very welcome. You are right, though, that the EU wouldn’t have to take us back, but they do say they will, happily. The problem is BoJo and his maniacal buddies who want to burn everything down so they can rebuild the country as a feudal state. Greedy, arrogant, heartless bastards. Or as we like to refer to them: fuckwitted cockwombling shitgibbons…

          • muselet

            😀

            –alopecia