It is three minutes after 10 and you are listening to LBC.

Shall we, listen, it's a bit untraditional, but let's just get Idiot's Corner filled up first,

shall we, this morning so that I don't have to spend the rest of the hour dealing with people

like David in Newcastle.

Oh, it's a benefit of leaving the EU.

I bet you won't admit this or read it out, James.

So we have got a smaller tariff imposed

upon us than the European Union does as a result of a calculation that I'll explain to you in a

moment. But if you think that this even begins to nibble at the edges of the economic harmed onto us

by Brexit, then, well, I don't even have a bridge to sell you. I've got some magic beans that you might want to buy. I've got a 44, I'll sell you Tower Bridge by Tea Time, David. And I have a modicum of sympathy for your stupidity, because if the British media had dedicated even a fraction of the energy to explaining the economic impacts of Brexit, that it has

already displayed in explaining the potential economic impacts of Donald Trump's tariffs,

which could, of course, disappear in a week or a month or a year, then nobody would be

as daft as David. So he can go and open up. I'll give him the keys. There you go, mate.

You go and open up. Anybody else who thinks the keys. There you go, mate. You go and open up.

Anybody else who thinks that this is a vindication of becoming the first population in the history of

humanity to vote to impose economic sanctions on itself could go right into Idiot's Corner with David

while the grown-ups get on with discussing the facts. And for the facts, I'm grateful to a couple of people today who I

don't know personally, but who I have encountered on the internet in the sphere of expertise on the

internet, one of whom is a senator in Connecticut and the other of whom is a respected

business writer. And it's to the business writer that we turn first because I read this and I thought,

you never learn, do you? I thought it can't be. That is so crass and so simplistic that it must be an exaggeration. I didn't.

I'd be fibbing if I told you that I thought somebody had got April Fool's Day out by a factor of about 24 hours.

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