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A good president. Adding on to Michael Platt ,The Tax Cuts and Jobs Act was published, and passed. It was the first major one in thirty years. (The Economic Tax Recovery Act of 1981)The Congressional Budget Office reported a $281 billion surplus in April of this year, a record high.According to Homepage, the Secretary of Commerce Wilbur Ross announced $482 billion of investments in new American projects.CNBC, a ‘slightly liberal’ news network according to Media Bias/Fact Check reports a list of massive companies from Walmart to JPMorgan all giving bonuses (50 total) due to tax savings.According to the National Public Radio Service, $1.5 trillion was saved from being payed for single households.Fortune Magazine and the Wall Street Journal and Bloomberg and the Washington Post published similar articles about the extension of individual tax cuts, also known as $1.5 entire trillion.$2.6 billion is going to be given to the Education Department, and unlike Obama, not in a massive recession, reports Education Week.According to the Los Angeles-yes, the Los Angeles f*cking Times, a provision in his tax bill has finally rolled back some of the dreaded red tape on Obamacare. It required Americans to pay for healthcare they don’t want or need. He also states that block grants may be an option for states, cutting back on government-regulated healthcare.Trump has finally lowered the 31% corporate tax rate, the second highest in the world, to a more reasonable 21%.The lowest we’ve gotten in July 2018 growth is higher than every other GDP growth rate than Obama’s. In fact, when Trump took office, in January 2016, the growth rate was 0.6%. Now we’re at 3.5%.Actually, if we add the growth for all of 2017, we come to the total that it’s actually 9/4 percent of the entire American economy.If we see the graph provided by Trading Economics for 10 years, we’ll notice that Obama’s eight years saw unemployment spike, and Trump lowered it to a 49-year-low of 3.7 percent.The manufacturing industry had 293,000 new jobs.337,000 construction jobs were introduced and the standards have rose dramatically.Fourteen states have record low unemployment rates.African-Americans have the lowest unemployment rates in their entire existence in America.Job openings reached 6.6 million, the highest number in history.Those dependent on food stamps fell 6.2%.The Dow Jones hit record highs no less than 80 times under President Trump, including closing at 26,000 points for the first time in history.$5 trillion in wealth has been accumulated.Economic confidence rebounded to record highs.The Conference Board Consumer Confidence Index rose in November 2017 to a 17-year high of 129.5.The National Association of Manufacturers’ Outlook Index had the highest annual average in its history.Small business optimism has sustained record-high levels under President Trump according to the National Federation of Independent Business.Trump signed an executive order expanding apprenticeships.Trump signed a Presidential Memorandum to prioritise STEM and computer science education. $300 million has been raised.Trump prioritised the economic development of women, lending $500 million to women-owned businesses.Since taking office, President Trump has advanced trade deals that protect American workers.Days after taking office, the President withdrew the United States from the Trans-Pacific Partnership negotiations and agreement.President Trump's Administration is working to defend American intellectual property from China's practices through a range of actions.The President improved the KORUS trade agreement with the The Republic of Korea, which will allow more U.S. automobile exports to South Korea with lower tariffs and increase U.S. pharmaceutical access to South Korea.American agriculture has gained access to new markets under President Trump.The Longest Consecutive Positive Monthly Job Growth on Record - Total payroll employment grew by 213,000 in June 2018 (18,000 over forecasts) led by gains in professional and business services, education and health services, and, once again, manufacturing.This is the longest consecutive, positive monthly job growth period on record (93 months).Wage growth soared at its fastest pace since the Great Recession” and the unemployment rate held “near a generational low” of 3.9 percent.Whether you like it or hate it, President Trump called on a Southern border wall, closed legal loopholes, ended chain migration, and ended visa lotteries.He also pulled us out of the Global Compact on Migration.President Trump rescinded the Deterred Action for Parents of America.Under President Trump, the Department of Homeland Security announced the Victims of Immigration Crime Engagement.110,568 illegal, undocumented immigrants, which were not applying for citizenship or making an effort were detained.$98 million was spent on law enforcement for cities across America. Said law enforcement also can now use surplus defence equipment to further help law.4,000 MS-13 gang members were arrested.President Trump signed three executive orders to crack down on international crime organisations.$1.6 billion was spent on border control.ICE also got funded 10% more.Federal agents seized a million pounds’ worth of narcotics…one million. Say illegals aren’t bad?He took action to protect America’s steel, harmed by unfair trade.The President exercised his authority to impose a 25 percent global tariff on steel imports and a 10 percent global tariff on aluminium imports in order to protect our national security.The tariffs on steel and aluminium are anticipated to reduce imports to levels needed for domestic industries to achieve long-term viability.As a result, these industries will be able to re-open closed mills, sustain a skilled workforce, and maintain or increase production.The strengthening of our domestic steel and aluminium industries reduces our reliance on foreign producers.President Trump is helping us to withdraw from the unfair Trans-Pacific Partnership.Re-negotiations of the North American Free Trade Agreement are still underway to modernise the deal so that all countries benefit.South Korean companies announced 64 projects that will invest more than $17 billion in the U.S. over four years and will purchase $58 billion in goods and services.Foxconn announced its investment of $10 billion in Wisconsin to build a factory that will employ thousands of workers directly, and up to 22,000 workers indirectly.Toyota and Mazda announced a $1.6 billion investment that will go toward a new manufacturing plant in the U.S., creating an estimated 4,000 jobs.At the White House, Broadcom Limited announced they were moving their headquarters back to the United States, bringing potentially $20 billion in annual revenue.President Trump and King Salman of Saudi Arabia oversaw the signing of a historic $400 billion in deals between U.S. and Saudi companies.To defend U.S. national security interests, President Trump blocked a foreign company from acquiring a U.S. business for only the fourth time in history.Since President Trump was sworn into office, the Department of Commerce has initiated 79 antidumping and countervailing duties (AD/CVD) investigations.The U.S. Trade Representative (USTR) self-initiated a Section 301 investigation into whether Chinese policies, acts, and practices related to technology transfer, licensing, and intellectual property are unreasonable or discriminatory. This is the first use of Section 301 since 2001.The Treasury Department and State Department put new sanction rules to channel economic activity away from the Cuban government, particularly the military, and towards the people of Cuba.Mortgage applications at 7-year highReduced white house payrollChanged rules of engagement against ISIS to allow for greater US effortWorked to reduce cost of the F-35Enacted 5-year ban on lobbying same department for Executive branch officials leaving governmentSanctioned Iran for material breach of Obama's Iran dealRemoved the US from the Paris Climate AccordAuthorized construction of Keystone pipelineCreated commission on opioid addictionThe Administration actually eliminated 22 regulations for every new regulatory action.The Administration issued 67 deregulatory actions while only imposing three new regulatory actions.According to a study by NERA Economic Consulting, implementing the Obama Administration’s plan under the Paris Climate Agreement could have cost the United States economy nearly $3 trillion and 6.5 million industrial sector jobs by 2040.President Trump has signed a record-breaking 15 CRA bills to roll back regulations.President Trump created the Interagency Task Force on Agriculture and Rural Prosperity that Secretary Sonny Perdue chairs and developed suggestions.Suggestions include focusing on broadband access, improving the lives of rural Americans, developing methods to support a rural workforce, harness technological innovation for rural communities, and focusing on economic development in rural areas.Criminals charged with unlawful possession of a firearm has increased 23 percent.Attorney General Sessions expanded Project Safe Neighborhoods to encourage U.S. Attorney’s to work with communities to develop customized crime reduction strategies.The President signed an Executive Order that placed a five-year ban on lobbying and a lifetime ban on lobbying for foreign countries.President Trump called for a comprehensive plan to reorganize the executive branch.President Trump began a comprehensive overhaul of digitally-delivered government services.President Trump called for a “full audit of the Pentagon.” The Department of Defense (DOD) responded to the President’s call to action, and began its full financial statement audit.Defense Secretary Jim Mattis called for business reform in the DOD to instill budget discipline and effective resource management.In October 2017, President Trump directed The Department of Health And Human Services to declare the opioid crisis a public health emergency, allowing grant money to be used to combat abuse.President Trump signed the International Narcotics Trafficking Emergency Response By Detecting Incoming Contraband With Technology (INTERDICT Act) that would give customs agents $9 million for screening tools on the border.President Trump appropriated more money to the cause. In April 2017, HHS announced it would provide $485 million in grants to states and territories to combat the opioid crisis. In fiscal year 2017, HHS invested nearly $900 million in opioid-specific funding.President Trump proposed changes to Medicaid to combat the opioid crisis.The President’s infrastructure plan will establish a Rural Infrastructure programme to invest in rebuilding and modernizing rural infrastructure. The Rural Infrastructure programme will seek to:Use outcomes-driven planning efforts and capital improvements to rebuild and modernize rural infrastructure.Grow business revenues and personal incomes in rural areas by expanding access to markets, customers, and employment opportunities.Enhance regional connectivity for rural communities through interregional and interstate projects developed by the public and private sectors.Spur economic growth and competitiveness by closing infrastructure gaps to attract more development and manufacturing investments in rural America.President Trump and his Administration allocated $50 billion to empower rural America to address the infrastructure needs of their communities. The $50 billion dedicated to rural America represented 25 percent of all Federal funds in the President’s plan.80 percent of the Rural Infrastructure programme funds will go directly to the governor of each State as determined by a formula.20 percent of the Rural Infrastructure programme funds will be provided to selected States that apply for Rural Performance Grants.The Department of Education has overseen the first year of the Every Student Succeeds Act (ESSA) to empower States with the flexibility they need to educate their students.35 States and the District of Columbia have had their ESSA plans approved and the Department of Education is reviewing the plans for the remaining states.The Department of Education is urging states to embrace the opportunity provided by ESSA to end top-down mandates from Washington, D.C.After it passed unanimously in August 2017, President Trump signed the Veterans Appeals Improvement and Modernization Act.This streamlined the lengthy process that veterans undergo when appealing disability benefits claims with the Veterans Affairs.The President signed the V.A. Choice and Quality Employment Act of 2017 to authorize $2.1 billion in additional funds for the Veterans Choice programme (VCP).The President signed the Harry W. Colmery Veterans Educational Assistance Act, an important step in providing our nation’s heroes the support they have earned.This funded the post-9/11 GI Bill, which provided educational benefits to veterans, service members, and their family members, including tuition, fees, books, housing, and additional costs.This is written in 2018, before the midterm elections, meaning the following was happened before his two years, half of his first term ended.

Oh yes, what an absolute bigoted idiot!The Tax Cuts and Jobs Act was published, and passed. It was the first major one in thirty years. (The Economic Tax Recovery Act of 1981)The Congressional Budget Office reported a $281 billion surplus in April of this year, a record high.According to U.S. Department of Commerce, the Secretary of Commerce Wilbur Ross announced $482 billion of investments in new American projects.CNBC, a ‘slightly liberal’ news network according to Media Bias/Fact Check reports a list of massive companies from Walmart to JPMorgan all giving bonuses (50 total) due to tax savings.According to the National Public Radio Service, $1.5 trillion was saved from being payed for single households.Fortune Magazine and the Wall Street Journal and Bloomberg and the Washington Post published similar articles about the extension of individual tax cuts, also known as $1.5 entire trillion.$2.6 billion is going to be given to the Education Department, and unlike Obama, not in a massive recession, reports Education Week.According to the Los Angeles-yes, the Los Angeles f*cking Times, a provision in his tax bill has finally rolled back some of the dreaded red tape on Obamacare. It required Americans to pay for healthcare they don’t want or need. He also states that block grants may be an option for states, cutting back on government-regulated healthcare.Trump has finally lowered the 31% corporate tax rate, the second highest in the world, to a more reasonable 21%.The lowest we’ve gotten in July 2018 growth is higher than every other GDP growth rate than Obama’s. In fact, when Trump took office, in January 2016, the growth rate was 0.6%. Now we’re at 3.5%.Actually, if we add the growth for all of 2017, we come to the total that it’s actually 9/4 percent of the entire American economy.If we see the graph provided by Trading Economics for 10 years, we’ll notice that Obama’s eight years saw unemployment spike, and Trump lowered it to a 49-year-low of 3.7 percent.The manufacturing industry had 293,000 new jobs.337,000 construction jobs were introduced and the standards have rose dramatically.Our President, who you see as racist, bigoted, and misogynistic, actually did so much that liberal news are liking it, and has the best economy America’s seen in a long time. What else did orange man do?Fourteen states have record low unemployment rates.African-Americans have the lowest unemployment rates in their entire existence in America.Job openings reached 6.6 million, the highest number in history.Those dependent on food stamps fell 6.2%.The Dow Jones hit record highs no less than 80 times under President Trump, including closing at 26,000 points for the first time in history.$5 trillion in wealth has been accumulated.Economic confidence rebounded to record highs.The Conference Board Consumer Confidence Index rose in November 2017 to a 17-year high of 129.5.The National Association of Manufacturers’ Outlook Index had the highest annual average in its history.Small business optimism has sustained record-high levels under President Trump according to the National Federation of Independent Business.Trump signed an executive order expanding apprenticeships.Trump signed a Presidential Memorandum to prioritise STEM and computer science education. $300 million has been raised.Trump prioritised the economic development of women, lending $500 million to women-owned businesses.Since taking office, President Trump has advanced trade deals that protect American workers.Days after taking office, the President withdrew the United States from the Trans-Pacific Partnership negotiations and agreement.President Trump's Administration is working to defend American intellectual property from China's practices through a range of actions.The President improved the KORUS trade agreement with the The Republic of Korea, which will allow more U.S. automobile exports to South Korea with lower tariffs and increase U.S. pharmaceutical access to South Korea.American agriculture has gained access to new markets under President Trump.The Longest Consecutive Positive Monthly Job Growth on Record - Total payroll employment grew by 213,000 in June 2018 (18,000 over forecasts) led by gains in professional and business services, education and health services, and, once again, manufacturing.This is the longest consecutive, positive monthly job growth period on record (93 months).Wage growth soared at its fastest pace since the Great Recession” and the unemployment rate held “near a generational low” of 3.9 percent.Whether you like it or hate it, President Trump called on a Southern border wall, closed legal loopholes, ended chain migration, and ended visa lotteries.He also pulled us out of the Global Compact on Migration.President Trump rescinded the Deterred Action for Parents of America.Under President Trump, the Department of Homeland Security announced the Victims of Immigration Crime Engagement.110,568 illegal, undocumented immigrants, which were not applying for citizenship or making an effort were detained.$98 million was spent on law enforcement for cities across America. Said law enforcement also can now use surplus defence equipment to further help law.4,000 MS-13 gang members were arrested.President Trump signed three executive orders to crack down on international crime organisations.$1.6 billion was spent on border control.ICE also got funded 10% more.Federal agents seized a million pounds’ worth of narcotics…one million. Say illegals aren’t bad?He took action to protect America’s steel, harmed by unfair trade.The President exercised his authority to impose a 25 percent global tariff on steel imports and a 10 percent global tariff on aluminium imports in order to protect our national security.The tariffs on steel and aluminium are anticipated to reduce imports to levels needed for domestic industries to achieve long-term viability.As a result, these industries will be able to re-open closed mills, sustain a skilled workforce, and maintain or increase production.The strengthening of our domestic steel and aluminium industries reduces our reliance on foreign producers.President Trump is helping us to withdraw from the unfair Trans-Pacific Partnership.Re-negotiations of the North American Free Trade Agreement are still underway to modernise the deal so that all countries benefit.South Korean companies announced 64 projects that will invest more than $17 billion in the U.S. over four years and will purchase $58 billion in goods and services.Foxconn announced its investment of $10 billion in Wisconsin to build a factory that will employ thousands of workers directly, and up to 22,000 workers indirectly.Toyota and Mazda announced a $1.6 billion investment that will go toward a new manufacturing plant in the U.S., creating an estimated 4,000 jobs.At the White House, Broadcom Limited announced they were moving their headquarters back to the United States, bringing potentially $20 billion in annual revenue.President Trump and King Salman of Saudi Arabia oversaw the signing of a historic $400 billion in deals between U.S. and Saudi companies.To defend U.S. national security interests, President Trump blocked a foreign company from acquiring a U.S. business for only the fourth time in history.Since President Trump was sworn into office, the Department of Commerce has initiated 79 antidumping and countervailing duties (AD/CVD) investigations.The U.S. Trade Representative (USTR) self-initiated a Section 301 investigation into whether Chinese policies, acts, and practices related to technology transfer, licensing, and intellectual property are unreasonable or discriminatory. This is the first use of Section 301 since 2001.The Treasury Department and State Department put new sanction rules to channel economic activity away from the Cuban government, particularly the military, and towards the people of Cuba.Mortgage applications at 7-year highReduced white house payrollChanged rules of engagement against ISIS to allow for greater US effortWorked to reduce cost of the F-35Enacted 5-year ban on lobbying same department for Executive branch officials leaving governmentSanctioned Iran for material breach of Obama's Iran dealRemoved the US from the Paris Climate AccordAuthorized construction of Keystone pipelineCreated commission on opioid addictionThe Administration actually eliminated 22 regulations for every new regulatory action.The Administration issued 67 deregulatory actions while only imposing three new regulatory actions.According to a study by NERA Economic Consulting, implementing the Obama Administration’s plan under the Paris Climate Agreement could have cost the United States economy nearly $3 trillion and 6.5 million industrial sector jobs by 2040.President Trump has signed a record-breaking 15 CRA bills to roll back regulations.President Trump created the Interagency Task Force on Agriculture and Rural Prosperity that Secretary Sonny Perdue chairs and developed suggestions.Suggestions include focusing on broadband access, improving the lives of rural Americans, developing methods to support a rural workforce, harness technological innovation for rural communities, and focusing on economic development in rural areas.Criminals charged with unlawful possession of a firearm has increased 23 percent.Attorney General Sessions expanded Project Safe Neighborhoods to encourage U.S. Attorney’s to work with communities to develop customized crime reduction strategies.The President signed an Executive Order that placed a five-year ban on lobbying and a lifetime ban on lobbying for foreign countries.President Trump called for a comprehensive plan to reorganize the executive branch.President Trump began a comprehensive overhaul of digitally-delivered government services.President Trump called for a “full audit of the Pentagon.” The Department of Defense (DOD) responded to the President’s call to action, and began its full financial statement audit.Defense Secretary Jim Mattis called for business reform in the DOD to instill budget discipline and effective resource management.In October 2017, President Trump directed The Department of Health And Human Services to declare the opioid crisis a public health emergency, allowing grant money to be used to combat abuse.President Trump signed the International Narcotics Trafficking Emergency Response By Detecting Incoming Contraband With Technology (INTERDICT Act) that would give customs agents $9 million for screening tools on the border.President Trump appropriated more money to the cause. In April 2017, HHS announced it would provide $485 million in grants to states and territories to combat the opioid crisis. In fiscal year 2017, HHS invested nearly $900 million in opioid-specific funding.President Trump proposed changes to Medicaid to combat the opioid crisis.The President’s infrastructure plan will establish a Rural Infrastructure programme to invest in rebuilding and modernizing rural infrastructure. The Rural Infrastructure programme will seek to:Use outcomes-driven planning efforts and capital improvements to rebuild and modernize rural infrastructure.Grow business revenues and personal incomes in rural areas by expanding access to markets, customers, and employment opportunities.Enhance regional connectivity for rural communities through interregional and interstate projects developed by the public and private sectors.Spur economic growth and competitiveness by closing infrastructure gaps to attract more development and manufacturing investments in rural America.President Trump and his Administration allocated $50 billion to empower rural America to address the infrastructure needs of their communities. The $50 billion dedicated to rural America represented 25 percent of all Federal funds in the President’s plan.80 percent of the Rural Infrastructure programme funds will go directly to the governor of each State as determined by a formula.20 percent of the Rural Infrastructure programme funds will be provided to selected States that apply for Rural Performance Grants.The Department of Education has overseen the first year of the Every Student Succeeds Act (ESSA) to empower States with the flexibility they need to educate their students.35 States and the District of Columbia have had their ESSA plans approved and the Department of Education is reviewing the plans for the remaining states.The Department of Education is urging states to embrace the opportunity provided by ESSA to end top-down mandates from Washington, D.C.After it passed unanimously in August 2017, President Trump signed the Veterans Appeals Improvement and Modernization Act.This streamlined the lengthy process that veterans undergo when appealing disability benefits claims with the Veterans Affairs.The President signed the V.A. Choice and Quality Employment Act of 2017 to authorize $2.1 billion in additional funds for the Veterans Choice programme (VCP).The President signed the Harry W. Colmery Veterans Educational Assistance Act, an important step in providing our nation’s heroes the support they have earned.This funded the post-9/11 GI Bill, which provided educational benefits to veterans, service members, and their family members, including tuition, fees, books, housing, and additional costs.Liu Update! Signed the United States-Mexico-Canada Agreement, which, compared to NAFTA, the agreement gives the United States more access to Canada's $19 billion dairy market, incentivises more domestic production of cars and trucks, increases environmental and labor regulations, and introduces updated intellectual property protections.wHaT a bIgOt!

The question asker gives no explanation as to why Brexit would mean the UK ‘tanking’ although that may be due to now debunked Economist estimates.Even pro-Remain economists believe that Economists have got it wrong with their pessimistic predictions of a post-Brexit UK.How the economics profession got it wrong on BrexitThe Brexit debate has been distorted by several myths. One of the most persistent and widely repeated is that the economic performance of the UK improved after joining the EEC in 1973. This claim was made by the OECD and was regularly stated in the media during the Brexit referendum campaign. The link between trade and productivity also plays an important role in economists’ assessments of the economic performance of the UK within the EU, and the short-term and long-term economic effects of the referendum decision to leave the EU.Many of these assessments have been by government departments and international agencies. In estimating the economic effects of Brexit on living standards, these rely on a range of analytic approaches, including the use of gravity models, computable general equilibrium models and macroeconomic forecasting models.Front pages celebrate the UK’s entry into the EEC in 1973, a time of fuel shortages. Photo: Paul Townsendvia a CC-BY-SA 2.0 licenceIn our working paper, we conclude that much of this work contains flaws of analysis, and a treatment of evidence that leads to exaggerated costs of Brexit. Gravity models are well established as a technique for estimating the impact of trade associations or currency unions but require more care than has been in shown, when being applied to a specific issue like Brexit. The Treasury has been particularly cavalier in its approach, both in its application of gravity analysis and in applying a ‘knock-on’ impact from trade to productivity. Other organisations have been a little more circumspect about the productivity link, which we doubt exists to any significant degree for advanced economies, but several have used it without much questioning. The short-term forecasts which have turned out to be wrong have further damaged confidence in economists’ contributions to public debate.Partly as a result, very little attention is currently being given by politicians or the public on either side of the debate to the impact assessments published at the time of the referendum. The potential damage to the UK’s negotiating position on Brexit may have been limited by the indifference of policy-makers to economic impact assessments. Although the UK government has steered away from further work on economic assessments of Brexit, devolved governments have felt less constrained.The Mayor of London, reacting against the UK Government’s reluctance to publish assessments, commissioned Cambridge Econometrics, who showed that a modelling approach without gravity models or general equilibrium, will generate moderate and plausible results. Even so, only the most pessimistic of their conclusions on Brexit received any publicity. CE’s gave little attention to their prediction that per capita GVA was little changed by Brexit and hence the media ignored it.The Scottish Government was much less inhibited and ploughed ahead with an analysis incorporating all of the flaws in the Treasury and CEP analyses with no acknowledgement of published criticisms. The consequences of these shortcomings go well beyond Brexit itself.We believe that the credibility of the economic forecasting profession and some of the major parts of the economic press, have been damaged again. It will take more than a decade to be sure of this, but the failure of the short-term forecasts indicates what could happen. The fact that the flaws we identify all point in the direction of pessimism on Brexit, and hence in the direction that most academics and economists tend to lean ideologically, will increase the scepticism of many. The refusal of the Treasury to discuss their approach, at least until the issue was aired in Parliament, is in our view unacceptable in an open democracy.Our conclusion is that in order to restore public confidence in economic forecasting for major policy issues like Brexit, economists need to use more relevant analyses, based on a wider range of evidence. We expect that econometric models used by commercial forecasters like Cambridge Econometrics, will prove to be most accurate in the long-run. If so, the academic profession needs to reconsider both the relevance of its current attachment to theory based on unrealistic assumptions, and to the general quality of policy-relevant applied work.Whatever techniques are used need to be applied with more balance and scepticism. The CEP in discussing the Treasury reports could only think of changes which would have made the HMT predictions even more pessimistic on Brexit. In the words of Oliver Cromwell to the General Assembly of the Church of Scotland, the economic forecasting profession needs to ‘think it possible ye may be mistaken’.Our conclusion is that most estimates of the impact of Brexit in the UK, both short-term and long-term, have exaggerated the degree of potential damage to the UK economy. We stress at this point that this is not a politically-driven exercise. Most of the four-person team behind the research for this and our other papers voted ‘Remain’ in the 2016 referendum and would do so again if given the chance. Our purpose is rather to establish a sound basis for the ongoing debate on the likely potential economic impact of Brexit, and more generally to question the quality of economic analysis in dealing with major, macroeconomic policy issue like BrexitThe real value of Brexit is the UK being choose to make and change its own laws, and own trade deals. For instance being able to reduce VAT on certain products in a faster time period than approx 18 years.If we get anywhere close to clean Brexit, then quite simply a return to democracy and sovereignty.The act of leaving the EU will not, on its own, add a farthing to our national wealth. What it will do is to remove constraints, allowing us to make different choices. Freedom, by definition, includes the freedom to fail. As a fully sovereign country, we might become a free-trading Singapore or a Corbynite Venezuela. It will be our decisionIf you have the right to negotiate for your sovereignty, you’re sovereign. If you can’t walk away from the negotiating table, you’re not. When the two parties sat down at the table, Britain had already exited the EU. This is an appropriate place to negotiate the best relations possible with allies and partners. But at the end of the day, all sovereignty is no-deal sovereignty. Britain has it. It is now debating whether to surrender it.I’d rather live in a democracy, and sometimes be on the losing side, than have my choices delineated by unelected officials.Also the EU isn’t particularly innovation friendly which won’t have helped the economy. From - The unseen benefits of leaving the European Union - CapXIn particular, the precautionary principle, the preferred risk management strategy of EU regulators, places the onus on creators of new technologies to prove their invention is safe where some risk may exist — even if there’s no scientific consensus to suggest any actual harm will occur.The result? It’s often too much bother to innovate.During the 19th Century, many viewed the emergent railways with a great deal of suspicion. As recorded by cultural anthropologist Genevieve Bell, critics of early locomotives believed “that women’s bodies were not designed to go at 50 miles an hour,” and worried that their “uteruses would fly out of [their] bodies as they were accelerated to that speed”. Had Victorian Britain followed some version of the precautionary principle, it’s hard to imagine a single track of rail being laid, given the levels of contemporary railway fear.Of course, moral panic over new technology is nothing new. Now, as in the 1850s, over-cautiousness risks hampering important drivers of future growth.So far, the European Union has made only tentative steps towards regulating artificial intelligence and robotics, though they are currently consulting on the issue. Yet given the EU’s structure, history and current trajectory, the balance of probability suggests AI will be the latest in a long line of missed technological opportunities.Take genetically modified crops. Since their commercialisation in many parts of the world during the 1990s, GM crops have raised the quantity and quality of the global food supply while lowering fuel and energy usage, requiring fewer pesticides, and reducing both soil erosion and carbon emissions — all with no scientifically-documented evidence of harm to human health. And yet, EU-wide precautionary thinking has meant a de facto ban on GM crops, only one variety of which has ever been approved and grown in Europe.While farmers outside the EU continue to develop newer, better technologies, hysteria over man-made pesticides has kept European farming methods behind the times. Ironically, foregoing the GM revolution in insect-resistant plant breeding has left European farmers more reliant on pesticides than ever (as has the ECJ’s foolhardy ruling on genome editing earlier this year).Just last week, the French Finance Minister claimed that EU member states are “very close” to agreeing a counterproductive tax on the turnover of tech companies, a policy likely to discourage new entrants and inflate costs for consumers.Given all the above, how likely are the EU’s hyper-cautious regulators to pursue a different path when it comes to AI and robotics — or will it be “business as usual”, namely — when in doubt, tax and over-regulate? Certainly, initial signs, including misguided calls for a “robot tax” from the likes of Guy Verhovstadt, don’t inspire confidence.andThese may seem like small concerns in the grand scheme of things, but taken as a whole — and the EU creates a whole lot of regulation — it adds up to an environment often hostile to innovation.It’s no coincidence that Europe has lagged behind the US for decades when it comes to new inventions, innovations and entrepreneurship. There are of course important cultural differences between these continents, but much relates to the US government’s comparatively light-touch regulatory approach. Not for nothing are there no tech giants in Europe to rival Facebook, Google, Apple or Amazon.Creating a competitive, innovation-friendly atmosphere is a huge potential hidden “win” of Brexit — with correspondingly huge opportunity costs from failing to do so. Indeed, with more leading universities than the rest of Europe put together, and an already thriving tech sector, Britain has much to lose compared to many of its neighbours.One can only imagine what Frederic Bastiat would have made of things like robotics, AI and machine learning. But I suspect the spirit of his advice would be the same – consider the unseen, and don’t destroy the jobs of the future in a misguided attempt to protect the jobs of today.Once we leave we can become a more pro-Business economy, leading to lower taxes, higher growth, and better standards of living.Two Thirds of Brits Want Low Tax Pro-Business Economy -ComRes has found that the UK is split almost down the middle in almost every aspect of Brexit, apart from what happens next. The polling organisation has found that two thirds of voters say that once the Brexit process is complete,“the UK should try to become the lowest tax, business-friendliest country in Europe, focused on building strong international trade links.”Amazingly this statement is supported by all age groups and all political affiliations, including 54% of Labour Party supporters. The low tax, free trading, ‘alternate economic model’ Brexit Britain the media scoffs at is actually incredibly popular…And join free trade areas that allow their members to strike other trade deals.Japan Welcomes Brexit Britain's Bid to Join Massive Global Free Trade Area -Liam Fox is in Tokyo today, visiting another wealthy island nation that does not see the need to enter into political and economic union with its authoritarian continental neighbour.The International Trade Secretary is meeting Japanese PM Shinzō Abe, after Japan’s Trade Minister “welcomed” Britain’s bid to join the successor to the Trans Pacific Partnership, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership on Tuesday. The massive CPTPP Free Trade Area encompasses Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.This is the kind of Free Trade Area that the UK should be joining, unlike the EU it does not presume to legislate for its members, and nor does it prohibit members from making their own global trade deals.Below are just some reasons as to why the UK may have voted for Brexit.https://www.spectator.co.uk/2016...Remainers often tell us to think of our children, and I’m doing precisely that. I am thinking, not just about the EU as it is now, but about the diminished role that a surly, introverted Europe will have in their lifetime. And that makes my decision very easy.1. ‘We need to co-operate with our neighbours,’ say Remainers, as if someone somewhere were objecting to the idea. Were the EU simply a common market, a regional bloc like Nafta or Asean, no one would have a problem with it. What makes the EU different from every other international association is that it legislates for its members. In any conflict between a parliamentary statute and the ruling of a Brussels institution, the latter takes precedence. This legal supremacy, which was not challenged during the renegotiation, is the basis for the political merger of the member states. The EU has acquired, one by one, the attributes and trappings of nationhood: a president and a foreign minister, citizenship and a passport, treaty-making powers, a criminal justice system, a written constitution, a flag and a national anthem. It is these things that Leavers object to, not the commerce and co-operation that we would continue to enjoy, as every neighbouring country does.2. The EU is not a free-trade area; it is a customs union. The difference may seem technical, but it goes to the heart of the decision we face. Free-trade areas remove barriers between members and, economists agree, tend to make participants wealthier. Customs unions, by contrast, erect a common tariff wall around their members, who surrender the right to strike individual trade deals. From the start, the EEC prioritised politics over economics and opted for a customs union as the means to a political union.Britain is one of only two of 28 member states that sell more to the rest of the world than to the EU. We have always been especially badly penalised by the EU’s Common External Tariff. Unlike Switzerland, which enjoys free trade with the EU at the same time as striking agreements with China and other growing economies, we must contract out our trade policy to a European commissioner — at present, as it happens, a former sociology lecturer from Sweden.We have (because the EU has) no trade agreements with China, India or most other Commonwealth countries. EU–Australia talks are being held up by a dispute over Italian tomatoes. Even the EU-Canada deal, which everyone thought was agreed, now risks being vetoed by Romania because of an unrelated row about visas for Romanians wishing to enter Canada. It’s a costly failure. In 2006, the EU was taking 55 per cent of our exports; last year, it was down to 45 per cent. What will it be in 2030 — or 2050?3. We can hardly accuse Eurocrats of being shy about their plans. The Five Presidents’ Report sets out a plan for the amalgamation of fiscal and economic policies — a process that can only take place among the 28 states as a whole, since there is no legal mechanism for eurozone-only integration. The Belgian commissioner Marianne Thyssen has a plan for what she calls ‘social union’ — i.e. harmonisation of welfare systems. Jean-Claude Juncker wants a European army, which the Commission describes as ‘a strategic necessity’. These are not the musings of outlandish federalist think tanks: they are formal policy statements by the people who run Brussels.The EU, in short, is responding to the euro and migration crises in the way it responds to everything: with deeper integration. Because Britain kept its currency and its passport checks, we have other options.4. When Britain joined in 1973, the states that now make up the EU accounted for 36 per cent of the world economy. Last year, it was 17 per cent. Obviously, developing economies grow faster than advanced ones, but the EU has also been comprehensively outperformed by the United States, Canada, Australia and New Zealand. It’s not hard to see why: Brussels is more concerned with keeping the euro together as a means to political integration than in the welfare of the poor wretches who have to use it.Back in the 1970s, western Europe seemed more modern and prosperous than Britain. Does it seem that way now? In an age of Skype and cheap flights, why should we allow accident of geography to trump ties of language and law, custom and kinship? Why tie ourselves to the world’s slowest-growing continent?5. ‘Ooh, so you want us to be like Switzerland or Norway, do you?’ say Remainers. No: we can get a better deal than either. We are 65 million people to Switzerland’s eight million and Norway’s five million; on the day we left, we’d become the EU’s single biggest export market.Still, it’s worth noting that Norway and Switzerland come first and second in the Legatum Prosperity Index and that their voters oppose EU membership by, respectively, 79 per cent and 82 per cent. They trade freely with the EU, while being exempt from (in Norway’s case) most or (in Switzerland’s) all its legal acts. They do pay Brussels, but less than we do per capita — far less, in Switzerland’s case. And, as well as the freedom to sign trade deals with overseas markets (they signed one with the Philippines last month, after just ten months of talks), they are self-governing democracies. The fact that they all have their own particular deals with Brussels shows how silly it is to expect us precisely to mimic someone else’s: we’d get our own deal, tailored to our own conditions. And thrive with a trade-based relationship with the EU.6. A Remain vote will be seen in Brussels as a capitulation. Look at it from the point of view of a Euro-federalist. Britain would have demanded trivial reforms, failed to secure even those, and then voted to stay in on unchanged terms. After decades of growling and snarling, the bulldog would have rolled over and whimpered.A number of plans have been postponed in Brussels pending our vote: the ban on powerful electrical appliances; licensing rules that will decimate London’s art market; the Ports Services Directive, which was opposed by every commercial port in Britain, every trade union and (for what it’s worth) every British MEP. But that secured a majority anyway, only to be deferred at the last moment until after our referendum.But that’s just the start. With the possibility of Brexit off the table, there will be a renewed push to integration, on everything from migrant quotas to a higher EU budget.There are some British voters who are happy with the idea of a federal Europe. Fair enough: if you’re in that category, vote Remain. But don’t imagine that you can cast a qualified Remain vote: your ballot will be taken in Brussels as a mandate for full-on integration. As I say, if you like that idea, fine. But, please, don’t be bullied out of following your conscience. We’re the fifth largest economy in the world, the second disseminator of soft power, one of five permanent seat-holders on the UN Security Council. We export tea to China, naan bread to India, kayaks to the Inuit. We have created more jobs in the past five years than the other 27 states put together. How much bigger do we have to be, for heaven’s sake, before we can prosper under our own laws?