EUROPE: Investment won't happen

Recently, the Government announced that our balance of trade figures are worse than they were in 2008, and deteriorating (OBR).

Thursday, 16th June 2016, 9:13 am
Updated Thursday, 16th June 2016, 10:18 am

Since then we have learned that our Gross Domestic Product (GDP) is down to its lowest level since 2007.

This appears to indicate to many economists that the Government is chasing the wrong deficit.

If it concentrated on building our manufacturing base and selling more products abroad then more people would be in work and the Government would gain more income from VAT and Income Tax receipts.

The Government appears to be concentrating on the internal deficit because it seems to be committed to reducing local services.

The NHS, in some places, appears near to collapse, and local authorities, providers of essential services to local people, have seen their budgets slashed.

It is said of our exit from the EU that we will save £350million each week, which ignores the 40 to 50 per cent we get back in grants, etc, and that this saving could be invested in local services and the NHS.

The Government’s record on this so far indicates that this simply will not happen so it is a myth that a saving from the EU will be invested in local people.

MJ Tuckwell,