Litotes Posted July 1, 2016 Share Posted July 1, 2016 What's not strictly true? Link to comment Share on other sites More sharing options...
unbeliever Posted July 1, 2016 Share Posted July 1, 2016 Many people who understand the stock market better than me have been talking about the FTSE 250. So decided to take a look. I googled FTSE 250 and a plot appeared. I then set the range of the plot to 1 month. It appears that the FTSE 250 is down 1.2% over the month. As I say, I'm not an expert, but that doesn't sound like a lot to me. Presumably it indicates that the market values the 101st to 350th biggest UK listed companies at 99% of their valuation from a month ago. Link to comment Share on other sites More sharing options...
Radan Posted July 1, 2016 Share Posted July 1, 2016 What's not strictly true? The Prime Minister has prerogative powers to enact Article 50. A legal challenge would need to be made to stop him doing that. Basically by doing so the Government would be hinting that they are about to ignore the referendum. Do you think they will mount that challenge? Link to comment Share on other sites More sharing options...
Litotes Posted July 1, 2016 Share Posted July 1, 2016 The Prime Minister has prerogative powers to enact Article 50. A legal challenge would need to be made to stop him doing that. Basically by doing so the Government would be hinting that they are about to ignore the referendum. Do you think they will mount that challenge? Not according to here; "It should, at the least, demonstrate that it is far from unambiguous that the Government retains the power to invoke Article 50 by prerogative." https://ukconstitutionallaw.org/2016/07/01/t-t-arvind-richard-kirkham-and-lindsay-stirtonarticle-50-and-the-european-union-act-2011-why-parliamentary-consent-is-still-necessary/ And the legal challenge could come from anyone. Link to comment Share on other sites More sharing options...
Radan Posted July 1, 2016 Share Posted July 1, 2016 Many people who understand the stock market better than me have been talking about the FTSE 250. So decided to take a look. I googled FTSE 250 and a plot appeared. I then set the range of the plot to 1 month. It appears that the FTSE 250 is down 1.2% over the month. As I say, I'm not an expert, but that doesn't sound like a lot to me. Presumably it indicates that the market values the 101st to 350th biggest UK listed companies at 99% of their valuation from a month ago. That's exactly my understanding too. However, we have not enacted Article 50 yet and Gove has hinted that even if he becomes PM he won't til next year. I'm not sure of May's stance yet. Perhaps the stability is because as of yet, the UK is still a card carrying EU member and in no rush to leave. Link to comment Share on other sites More sharing options...
unbeliever Posted July 1, 2016 Share Posted July 1, 2016 Why is everyone ignoring the Elephant in the room that is constitutional law? You cannot annual/repeal/kill and Act of Parliament by saying 'begone Act' or even 'I wish to enact Article 50'. We joined the EU via an Act of Parliament which still stands. To kill it off requires another Act of Parliament - which means MPs will have to vote on the Act - if everyone writes to their MPs, and the MPs actually vote representing their electorate (as they should do), then Brexit will not happen. For instance, there are 6 Mps who represent Sheffield - I reckon that at least 3 of those constituencies would not have voted to Leave which immediately overturns the referendum vote... If the article 50 process is completed (which the PM has the power to do without consulting anybody) then the EU will consider the various treaties invalidated. If the EU no longer respects the treaties, parliament could not do anything meaningful about it. Link to comment Share on other sites More sharing options...
Radan Posted July 1, 2016 Share Posted July 1, 2016 Not according to here; "It should, at the least, demonstrate that it is far from unambiguous that the Government retains the power to invoke Article 50 by prerogative." https://ukconstitutionallaw.org/2016/07/01/t-t-arvind-richard-kirkham-and-lindsay-stirtonarticle-50-and-the-european-union-act-2011-why-parliamentary-consent-is-still-necessary/ And the legal challenge could come from anyone. Yes I know. They will need an act of Parliament to stop the PM using prerogative powers. That act would indicate a will in commons to ignore the referendum. Do you see them doing that? Link to comment Share on other sites More sharing options...
Litotes Posted July 1, 2016 Share Posted July 1, 2016 Yes I know. They will need an act of Parliament to stop the PM using prerogative powers. That act would indicate a will in commons to ignore the referendum. Do you see them doing that? No, I interpret that completely the opposite. It is ambiguous that the PM has the powers... And yes, I would see the MPS doing that. Link to comment Share on other sites More sharing options...
Radan Posted July 1, 2016 Share Posted July 1, 2016 No, I interpret that completely the opposite. It is ambiguous that the PM has the powers... And yes, I would see the MPS doing that. I agree it's ambiguous. An act of Parliament would resolve the matter conclusively. I'd be surprised if that happens and as such our new PM will use their prerogative powers to enact 50. Ask your MP if they plan to mount a challenge. There is also crowd funding in place. Good luck. Link to comment Share on other sites More sharing options...
Litotes Posted July 1, 2016 Share Posted July 1, 2016 I agree it's ambiguous. An act of Parliament would resolve the matter conclusively. I'd be surprised if that happens and as such our new PM will use their prerogative powers to enact 50. Ask your MP if they plan to mount a challenge. There is also crowd funding in place. Good luck. My MP is Clegg so he would... he has nothing to lose! And, like you say, there is crowd funding in place to support it. Link to comment Share on other sites More sharing options...
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