The Past Speaks

A few days ago, I posted some thoughts about whether Brexit insurance should be provided by the state or the private sector. I argued that the state should provide it so as to incentivize policymakers to adopt an approach to the Brexit negotiations that would minimize the economic costs. Today, the FT reports that ActiveQuote, the  Cardiff-based company that runs the income protection insurance segments of such UK price comparison websites as Go Compare has reported that Brexit produced a huge surge in the numbers of people looking to purchase insurance against unemployment.They also reported that many of the people seeking cover work in finance and earn £150,000.

It sounds like people in the City have concluded that the government won’t be compensating those who lose their jobs due to the government’s intention to trigger Article 50.