Welcome 2019 and the first week of business. Good to see plenty of economic indicators have held up over the year end (such as Manufacturing and Services PMI and employment) and we are off to an OK start for the new year. Even the sickly FTSE has perked up a little bit again trend (traditionally, after the Santa Rally to help fund mangers, they engage in a January sell-off to depress markets as they are set their targets for the new financial year - so that they can make their benchmarks and bonus' gain for the year...).
However, having posted last week on how May and Corbyn are being made to work for a living, a downside has quickly emerged. Plenty of other MP's are in revolutionary mood, the main threat seems to be currently from Nicky Morgan and Yvette Cooper. Both have corralled a Lib Dem and Labour group of MP's, with a couple of Tory outriders, into back a new plan. This plan is to make amendments to the Finance bill that would stop funding for the Treasury for a no deal Brexit, Uncle Vince of the Lib Dems, who it would seem has survived Christmas, is also planning an amendment that would stop the Government raising taxes if it pursues Brexit, so invoking a US style Government shutdown. The precedent of these bills for any future minority Government as we have now is also a major consideration, perhaps Mr Corbyn should think about what it would mean were he to end up in charge of a minority Government - abjectly cut asunder by New Labour and the Tories for his pet policies.
These wrecking amendments surely border on treason and a less partisan Speaker of the House than John Bercow would throw them out, what Government can allow it very function to be undermined by its own finance bill? What parliament could actively vote to undermine the functioning of Government? At the moment the rebels are thinking only about Brexit, they will be a lot more displeased when they find that stopping Welfare payments and spending hits them full in the face should they succeed. The Parliamentary maths is against them succeeding at the moment, but it is finely balance, they would need around 10 Tory votes and 100% compliance from all opposition parties.
However, more disappointing is the continuing crazed efforts at promoting Remain at all costs, these current ideas show exactly what at all costs means, causing more dysfunction in the Government than Brexit would itself. Any Government, faced with the current potential no-dal scenario in just a few weeks time, should be prudently spending and planning for the worst case. These same MP's are planning to vote down the one plan that exists currently agreed with the EU to prevent such an occurrence. Their position is an abomination, both torpedoing the Government attempts to find and deal and trying to stop planning for the no-deal they would create- I think the old phrase was too clever by half.