REMOANER George Osborne’s family loses HUNDREDS OF THOUSANDS due to the Brexit vote

0
598

While it wouldn’t always be appropriate to make such a point about a family losing a vast sum of money, there are some circumstances that we feel offer a fascinating insight into the ‘politics behind the politics’ of the 2016 EU referendum.

Many months before the June 2016 vote on whether or not we should Leave the European Union, the political class in Britain separated themselves into two distinct camps – Leave and Remain.

As the declarations of support emerged one by one, the public were often left asking themselves ‘why?’

In a perfect world, each politician would have been basing their decision on their own political beliefs and nothing else, but it has now become clear that in many cases politicians had their own personal interests to consider.

Clearly any potential ‘conflict of interest’ would have muddied the waters.

A report in Politics Home has confirmed that a company owned by ex-Chancellor Of The Exchequer George Osborne’s family lost more than £850,000 as a direct consequence of the Brexit vote:

The Brexit vote cost George Osborne’s family business hundreds of thousands of pounds last year, PoliticsHome can reveal.

The wallpaper firm Osborne and Little Group Limited – of which the former Chancellor is a shareholder – was left £855,000 out of pocket by the result, according its latest filing at Companies House.

It explains that despite making pre-tax profits of £73,000, the posh furnishings company took a hit shifting cash between its US and UK subsidiaries after the drop in the pound following the Brexit vote.

Pro-EU campaign group Open Britain said the firm will be “just one of thousands of British businesses being punished by the plummeting pound”.

Mr Osborne – who is now editor of the Evening Standard newspaper – warned ahead of the referendum that the UK economy would take a hit if the country voted for Brexit.

CLICK HERE TO LIKE YOUR BREXIT ON FACEBOOK AND GET THE LATEST BREXIT AND POLITICAL HEADLINES

Let’s just be clear about this. We are not saying that this was the sole reason why George Osborne was a firm supporter of Remain.

However, it does offer a little insight into how the mechanics of private business could have theoretically driven politicians to nailing their flag to the mast one way or the other.

JD Wetherspoon’s boss Tim Martin and Vacuum cleaner tycoon James Dyson may have sat down and realised that they had more to gain from Brexit, but the major difference is that they weren’t in an extremely high-ranking political role at the time.

Let us know what you think at info@yourbrexit.co.uk – we are always interested to hear your views and you may even get featured in your own blog post, whether or not you are passionate about Brexit.