The sell-off of British businesses like ARM must stop

The Guardian is a socialist rag intent on all types of state intervention and Remain-ing with the unelected meddling of the EU. Half the article bemoans the loss of taxes to support the huge sprawling socialist Leviathan of welfare and Big Government in the UK.

The fact is that the UK has a huge current account deficit, which is only balanced by large FDI inflows. If Britain wants to keep consuming more than it produces, it has to accept foreign capital inflows to to pay for those excess imports. Just think what converting GBP 25bn (borrowed by SoftBank in JPY, USD or dare I say it CNY?) does to support the pound. If FDI flows stop, the pound crashes, imports and foreign travel become more expensive, consumption is curtailed by 7% to balance the current account, and all GBP savings and incomes have less purchasing power in the world.

Britain is (or will be in a year or two after leaving the EU) open for business with the world, and looking forward to lower tariffs on imports as well as open flows of investment. Starting a company from scratch and selling it for 25bn GBP is good for Britain. Let's do it again.