21 June 2017

On the Record | Elizabeth makes it official: The Queen backs Brexit and independence

Please see my latest wire as Brexit diarist for The New York Sun, ‘Elizabeth makes it official: The Queen backs Brexit and era of independence’:

“My government’s priority is to secure the best possible deal as the country leaves the European Union.” With these words Queen Elizabeth today officially opened the 57th Parliament. With the first session scheduled to last two years, it should give the Conservative government sufficient time to concentrate on exiting the European Union by March 2019. So the British ship of state has cleared its decks for Brexit.

As if to emphasize the seriousness of the moment, the State Opening lacked the pomp and circumstance of past years, with the Imperial Crown simply carried in procession and Her Majesty, foregoing the state coach to arrive by limousine and wearing not her ceremonial regalia but a bright blue dress and matching hat. The speech itself was a model of brevity, listing in curt succession the future agenda of the Government.

Many of the economic consequences of Brexit were foreshadowed by the speech of the Chancellor of the Exchequer, Philip Hammond, to the Mansion House yesterday. Clearly stung by the results of a snap election meant to strengthen Prime Minister May’s hand, not weaken it, Mr. Hammond admitted that Tories “must make anew the case for a market economy and for sound money” and how “stronger growth must be delivered through rising productivity” as “the only sustainable way to deliver better public services, higher real wages and increased living standards.”

The Chancellor then delivered the strongest case for Britain’s independence — away from the European Union and toward global opportunities: “That means more trade, not less; maintaining our strong trade links with European markets after we leave the EU, as well as seeking out new opportunities for trade and investment with old friends and fast growing emerging economies alike.”

Read more . . .

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My thanks to editor Seth Lipsky of The New York Sun.