Jul. 5th, 2016

Fragmenting

Jul. 5th, 2016 11:14 pm
lupestripe: (Default)
In some ways I have always suffered from a sense of inertia. Growing up, I had dreams of becoming an ambassador, being stationed all around the world working for the British Government. In the end, two years working for a subsiduary of Defra put me off the civil service for life and I ended up moving just fifty miles away from the town where I grew up. In some respects, I feel I have failed and disregarded my childhood ambitions, but then I am sure many people could say the same. Furthermore, you can't predict life and I found a good partner, good friends and a good job in what is a fantastic city. I do regret not moving to Germany when I had the chance but perhaps I'm being harsh on myself, the timing just wasn't right. But now, with the prospect of free movement coming to an end, I am lamenting that I didn't take a risk at some point in the past.

Of course, I could still move to another European country now but the prevarication concerning the rights of EU citizens in the UK is causing huge concern. I do expect EU citizens to be granted indefinite leave to remain, but I also know that to prevent mass migration to the UK ahead of Article 50 being activated, I imagine there will be a cut-off date for this, which I expect to be 23 June. And whatever we do, the EU will likely reciprocate. Consequently, I have probably missed the boat and I sense it is too much of a risk to quit my job and renege on my mortgage now when there is a high chance that I will be sent home in a couple of years anyway. As a result, I just have to hope that whatever deal between the UK and the EU is reached, it will contain some element of free movement. Under Theresa May, this is a possibility, but I fear that it could still be draconian in its limitations. Unfortunately, that may not bode well for me or for my business, and it is the uncertainty which is a killer.

I feel everything is changing and not for the better. Work is going steadily and there are reassurances coming out of Gibraltar that it will be business as usual from there. This is good news for the majority of our clients and suggests that one potential danger will be alleviated - if the Gibraltar situation is resolved satisfactorily, they are unlikely to need to move and thus find savings elsewhere to facilitate the process. However, last night Wolfie and I went out with our Australian friend Brett to BrewDog's excellent fourth of July US Tap Takeover and it is looking very likely that he will be heading back to Australia over the course of the next six months or so. Equally, a few other friends have already spoken to me to say they are heading back to their home countries while a couple more friends are actively persuing opportunities elsewhere too.

I feel everything is fragmenting and I'm caught in limbo - unsure what the right thing to do is. I have written to my MP to urge him to back an EEA deal with free movement, and perhaps my decision will be based on whatever the negotiated settlement is. If there is still some free movement, then my company will benefit and I could happily remain, but if the drawbridge is pulled up, then I think it would be difficult, both for my company to survive and for me to stay here. However, by the time the future is known, it's likely to be too late. This has knock-on effects too. With the pound devaluing, it's difficult to know whether to save money or to spend it, particularly when personal circumstances could become difficult in the coming months. I have put more money into my pension and will focus on paying off the mortgage - two long-term investments which should ride out the current devaluation - but beyond that I just don't know. I have never been so confused and until the Tory leadership election is finalised, I guess I just have to sit tight. But two months of uncertainty could prove crippling and I just want to know where I stand. I guess we all do. I'll never forgive the Leavers for not having a coherent plan.

May 2025

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