ext week, the Government is hosting the rather grand-sounding Global Investment Summit, where ministers will seek to encourage foreign investment into this country.
Would you sign an investment deal with these people, on their word? Investors put their money in safe economies, home to strong institutions with stable regulatory frameworks, on the basis of mutual trust.
A nation that threatens a trade war — albeit they will argue no doubt that this is just all sort of negotiations — with its closest and most important trading partner, that suggests reneging on agreements where the ink has barely dried and acting in a petulant manner when the bad deal signed in haste doesn’t work for them anymore.
If this sounds esoteric and irrelevant to everyday needs, it isn’t. If you think the shelves are bare now or energy prices a little dear, if you can’t get a builder to come round for love nor money, wait until a trade war with the EU gets into full swing.
We signed a thin deal to get it over the line and now we are seeing the full ramifications, not that you will ever hear the Government own up to their responsibility in that. And the over-promising that led to it.