Brex­i­teers sus­pend law of eco­nom­ics

Birmingham Post - - NEWS -

DEAR Ed­i­tor, I was dis­ap­pointed but not sur­prised that Rus­sell Luc­knock ( Post, May 31) should see the new Ital­ian ex­trem­ist gov­ern­ment through Brex­i­teer eyes. There is more to the ex­trem­ists than just the way they in­tend to spend spend spend and break the EU rules on debt. On the plan to in­crease Ital­ian debt it’s not just the EU that is in­volved. No sen­si­ble per­son be­lieves it is pos­si­ble to spend money you have not got with­out bad con­se­quences.

Cut­ting taxes while promis­ing a univer­sal in­come, re­duce the re­tire­ment age and hav­ing a flat rate of tax – shades of Thatcher’s poll tax there – while pro­vid­ing a ba­sic in­come for the poor are de­signed to make the gov­ern­ment bank­rupt. While you can buy votes this way, the loans needed to pay for this kind of nonsense be­come very ex­pen­sive.

This is more ev­i­dence that Brexit is in fan­tasy land and the project should be stopped be­fore Bri­tain is forced into bankruptcy as well.

The Leave cam­paign never spelt out what it would cost to quit the EU, but the Ital­ian pop­ulists have taken a leaf from Trump’s book in cut­ting taxes and promis­ing a mir­a­cle. It was Dick­ens who said “In­come a pound. Spend­ing nineteen shillings and six­pence, hap­pi­ness”.

Spend­ing above that – not a happy sit­u­a­tion. Brex­i­teers and pop­ulists can­not sus­pend the laws of eco­nom­ics. Trevor Fisher, Stafford

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