Our country is more polarised than at any time since the Second World War – by age, education, place and wealth - but above all by values.

By John Mills

The Pound Campaign has long maintained that the biggest single reason for the lack-lustre performance of the UK economy over a long period – but particularly more recently – is that the exchange rate has been – and still is – far too high.

With revised figures covering all the period covered by the data, the first table below sets out the balance of payments figures for the UK economy for the past decade, published by the Office for National Statistics (ONS) on 29th June 2018.  Despite some improvement in the UK’s foreign payments outturn for 2017, largely due to the sterling devaluation following the Brexit vote, the overall position remains very unbalanced. Unfortunately, the reduced balance of payments deficit reflects sluggish growth more than improved competitiveness.

Time for Labour to get on with it? On how Labour should position itself the most popular answer was to get on with it and work in the national interest (47%). On what to prioritise in negotiations the most popular response was to put sovereignty and borders first (48%).  Less than 6% thought we should prioritise the single market if it meant financial contributions and free movement. 

Andy McDonald MP, Shadow Secretary of State for Transport, commenting on Transport for London’s decision to not renew Uber’s licence, said:

“All companies must play by the rules and adhere to high standards– particularly when it comes to the safety of passengers.

As Labour’s annual conference approaches, much attention is rightly focused on Labour’s position on long-term membership of the single market. Less discussed is Labour’s current policy towards the customs union. Yet this is an issue around which most wings of the party could unite.

Labour is not fighting an easy general election. As we all know, the polls have not been running in Labour’s favour, but they have been inaccurate before and they may be wrong again. There could still be some surprises, including a much better result for Labour than most people have been expecting.