Jim Armitage: Stop the lies, Boris Johnson
Boris, your battle for Brexit is over; there’s no need to continue spinning the untruths.
In your column in last Monday’s Daily Telegraph, you declared: “The pound remains higher than it was in 2013 and 2014.” Against the Guinean franc, perhaps, or maybe against the euro, which was crippled by the Greek crises at those selectively chosen dates.
As you are well aware, when most people talk about the sterling’s strength, they mean against the world’s reserve currency, the dollar. And on that measure, thanks to your Leave campaign, it is at its lowest in 31 years.
In today’s article, you’re at it again, declaring “the stock market has not plunged”.
Really? Actually, Boris, although the FTSE 100 Index of global conglomerates may have proved resilient, the FTSE 250 — more representative of Britain’s prospects — has crashed 5% since the referendum.
Even in the FTSE 100, UK-facing stocks — such as banks — have plunged calamitously. RBS is 32% weaker since June 23 and Barclays is down 25%. Lloyds’ shares are so weak that plans to sell the remaining taxpayer’s stake this year have been shelved.
Plenty of material there for next week’s column, old bean.
