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Unemployment in the UK reached 8.4% for the three months ending in January 2012, with total unemployed at 2.67 million. Youth unemployment for ages 16-24 reached 22%, with 1.01 million youth unemployed.

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Journalists of the Economist magazine describe the EU's problems and the British perspective on the issues facing the European Union.

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Who should lead the Conservative Party in 2016 till the next elections in 2020? The Economist magazine says strong negotiating skills and stamina are needed, and on this point it says Theresa May, Home Secretary, does better than former Energy minister, Andrea Leadsom, who has not done such tough negotiating and is not so well known as May. May had the support of 199 members of parliament to 84 for Leadsom, whose experience is less and was junior Treasury minister in prior position compared to May's 6 years in the position of Home Secretary handling immigration issues. Being an ardent Brexiter Leadsom has an advantage with Brexit supporters, though May handled her Brexit Remain position in a low key way and can appeal to both sides of the Conservative party. The result will come from a postal ballot to 150,000 members of the Conservative Party.

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British prime minister, David Cameron, speaking on multiculturalism at a Security conference in Munich, Germany.

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Brexit and Scotland's referendum both have similar consequences economically for Britain and Scotland. This hurts both countries in unwinding relationships built over many years, unwinding 44 year membership for Britain, and 310 year union for Scotland. Britain exports to EU are 45% of total exports, and for Scotland the number is 63% for exports to the rest of the UK.  Scots benefit about 1200 British pounds more for average citizen than a average citizen of UK, and pay 400 pounds less to the government. Scotland would start with a 90% debt to GDP ratio if it takes a proportionate share of UK government debt from the beginning of independence. Fidler correctly points out the economic risks to Britain and Scotland which are being ignored or not fully taken into account by politicians.

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This BBC report gives the reasons for the success of the Leave campaign getting 51% of the vote- the votes of older voters particularly in the south, southwest, Midlands and the north east with 78% of people over 65 voting and 54% of 25-34 year olds voting in the 2015 general election. Three of five voters over 65 wanted to Leave, and voters over 55 favored leaving the EU. Other important factors was the voter discontent, the failure of the message on the economy of the Remain campaign, the 350 million British pounds that the Leave campaign said Britain would have extra to spend on the NHS every week as this was what Britain could free up by leaving the EU was the best remembered number in the campaign.  Another important factor is the failure of Labor Party supporters to come out to support the Remain campaign in large enough numbers for an effort led by Conservative party leader Cameron. 

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In a decline in living standards for 9 months since March 2016, the longest stretch since 1975, UK household disposable income declined again in 2017. UK household's disposable income fell 1.4% on the quarter in the first 3 months of 2017, according to the Office of National Statistics. This decline for the third quarter in succession comes from weak wage growth, rising prices, and higher taxes. This also shows that Brexit has certainly not helped the British economy, and provides further evidence that it is hurting the British economy. With increasing uncertainty after the parliamentary elections, a weak government, serious questions about Brexit, further weakening of the annualized growth of 0.9% at this point is not ruled out by experts. One evidence about Brexit's impact- the steep decline in the value of the British pound since the June 23, 2016 Brexit referendum has accelerated inflation in May to 2.9%, significantly surpassing any slight growth in wages. This leaves Britain worse off than before, with the future uncertain under Brexit talks.  ...

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Andy Street, Mayor of the West Midlands Combined Authority, says when you consider that London gets 7 times the infrastructure spending per person than West Midlands, "its not bloody surprising" that his region is not growing fast. West Midlands covers a large part of central England, including Wolverhampton, Birmingham and Coventry. Even life expectancy is lower by 8 years in Blackpool, and disposable income can be quarter in Camden compared to North London. Labor's Corbyn and Conservative's Thatcher in the British general election are both campaigning for reviving the regions outside London, that have seen investment in people and technology lag substantially behind London. Regional revival is the big issue in this election. Consider that London which accounted for about 15% of economic output in the 1980's now accounts for nearly 25% of economic output of Britain. Berlin is about 4% of Germany's economy, and Paris 10% of France's economy. A word of caution on Brexit is sounded by experts at the University of Birmingham, who say the whole process of Brexit is so complicated that it may detract from the task of reviving this region. Even though the political upheaval had origins in this discontent, was it more about shifting government attention to the gap between London and the rest of the country, and less about a complex process of withdrawal from the European Union. ...

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A new poll from YouGov shows the Conservative Party getting 310 seats and Labor Party at 257 seats. Labor would gain 30 seats and Conservatives lose 20 seats under this prediction. Conservatives would fall short of the majority of 326 seats needed. Support for Theresa May is slipping especially after announcing older people would have to take on more burden for care, dubbed the dementia tax by media. A coalition of Labor party with the Scottish National party (SNP) with 50 seats and the Liberal Democrats with 10 seats is now a possibility.

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This article in the Economist points out that 84% of Britons want the 3.5 million existing immigrants to stay in Britain, even though the government of Theresa May has not given a clear commitment. May wants a reciprocal commitment for 1.2 million Britons living abroad in the EU. In 2015 330,000 immigrants came to Britain, with close to half from the EU. The Conservative government has not been able to reduce the number- a result for the most part from 10 Eastern European countries entering the EU in 2004 and 2007, says the Economist. Brexit negotiations are not likely to lead to results in migration partly because of the long negotiations with the European Union needed for changes. Other issues are that the food processing, farming and hospitality industries need low cost labor from Eastern Europe.

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Tata Sons, the holding company for Tata Group companies, is looking for a successor to Ratan Tata. The Tata Group of companies cover a whole range of products from steel and cars, to information technology and consumer products. This includes India's second largest automobile company and India's second largest IT outsourcing company. Tata has in all 98 firms. It made acquisitions of Corus, a British and Dutch steel producer for $12 billion, and of Jaguar and Land Rover for $2.3 billion. Ratan Tata did much of the reorganization of the old Tata Group over the last 2 decades. The company started during the Victorian era as a maker of textiles. It was founded by Jamshedji Tata. His vision was to establish Tata as a steel maker and to invest in education and research institutes for India's technological revolution. The Tata companies also set their own high business standards based on the founder's concepts. And unique in India, Tata Sons was setup so that two thirds of the company is owned by charitable trusts. Jamshedji spent time in Britain during the Victorian period, admired Gladstone, was a forward looking visionary believing in and providing inspiration for India's future technological development. During the early ears after independence the company was run by JRD Tata who maintained the legacy, but it was Ratan Tata his successor from the same Parsi family, who reorganized and established Tata as the company it is today. The Tata Nano was a result of Ratan Tata's vision of a car that would cost one lakh rupees, and be an affordable car for millions of people in India who now drive motorcycles. With the magnitude of the responsibility, the search for Ratan Tata's successor, is being closely watched in India. This time the Tata Group is looking at outsiders and searching for the right person. Now 65% of Tata Group's revenues of $70.8 billion come from overseas, which would suggest the value of international experience. In fact British Prime Minister Cameron cited Tata Sons as being Britain's largest manufacturer. ...

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This article in The Economist magazine looks at the internal debate in Germany after the July crisis in Greece following a "no" referendum and the position taken by Germany on turning down any ideas on debt renegotiation to reduce the debt burden. Centre right parties say this is simply enforcing the rules. The left parties say this is moving Germany to post post-nationalist. German chancellor Kohl and post war Germany took the position that Germany was a "post-national society." Thomas Mann, a well known German writer, said Germany needed to come out " not for a German Europe, but for a European Germany." And Hans Dietrich Genscher, a foreign minister stated that Germany's only interest was that of the EU. This was a recognition of the situation of the idea presented since reunification in 1871 that the new country was too large for a balance of power in Europe, yet too small to impose its will on Europe. This was shown in the July negotiations when chancellor Merkel accepted the position put forward by Valls and Hollande of France that a Greek exit from the eurozone was not an option. Germany did not seek to impose its will, say centre right parties. In fact chancellor Merkel sees Britain as a serious partner and cannot understand why some in her party can see no problem with a British exit from the EU. In fact many people in Germany will be relieved when this phase of the crisis is over, when the diminishing of moral hazard makes it possible to consider debt reduction for Greece and the austerity programs have introduced discipline to national budgets, so that the next phase of tighter and closer union for the European Union can take place- restoring Germany's aspirations for a "post-nationalist society." ...