High price of a no-deal Brexit
It is interesting after some years of fiscal prudence, the UK now appears to have billions of pounds available to spend on a no-deal Brexit, a no-deal Brexit that is, according to Boris, a million to one against (rush out and place your bets now).
The Thatcher government of the 1980s rejected Keynesian economics, in favour of a policy advocated by the economist Milton Friedman, which became known as “monetarism” which advocated, amongst other things, a strict control of the money supply. For the Conservative Party, what has changed? It has now become a one-trick pony that is obsessed with Brexit. The broad church has suddenly become very narrow indeed. For reasons best known to themselves, they are not aware of this development.
If you have £10, you cannot spend £20 (well, that’s been my experience). The deficit can only be financed by borrowing money which, shock horror, will need paying back, or by increasing revenue with tax increases which, shock horror, will be paid for by the taxpayer – economics page one! If the finite resource of money is used on a no-deal Brexit plan (defined as to bother about the best method of achieving an accidental result) then it cannot be spent on social care, the NHS, police, poverty, homelessness, etc.
This cost of Brexit, plus an inevitable second Scottish referendum – which bearing in mind Dave appeared to treat them with contempt, Theresa appeared to ignore them completely, and Boris’s visit to Edinburgh was hardly the greatest political success story of the century – will probably lead to a vote to leave the United Kingdom and appears to have been overlooked by the current government.
The Conservative and Unionist Party of Great Britain and Northern Ireland – as Jacob might say “whom are we kidding!”
Mr D N Grant, Ludlow
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