Corbyn is peddling fantasy economics

I HAVE received two leaflets from my Labour MP, neither of which has a picture of Jeremy Corbyn nor mentions his name, even though he is doing well in the polls.

My MP is an intelligent man, although we have the obligatory mention of the Tories being the party for the rich and powerful and, of course, food banks, ignoring the fact that they have been developing in this country since 2004, when we had a Labour government.

I think that he realises that Mr Corbyn’s policies are fantasy economics. He intends to nationalise some FTSE 100 companies, give free tuition to all university students, pour money into the NHS, social services and the care sector to make sure nobody has to help to pay for care in their old age, and all this will be paid for by increasing corporation tax and taxing the “rich”. Oh, and of course by borrowing huge sums of money which will eventually have to be repaid by the young people who presently seem so keen on him.

Wales voted for Brexit so we have an interest in ensuring that we have an attractive environment for inward investment. Companies will not come to the UK if they think they will be milked through taxation; there are plenty of other countries who will welcome them. High taxation almost always leads to a decrease in receipts. As for the “rich”, the upper 50% of earners produce 90% of the income tax in the country while the lower 50% produce 10%. The broadest shoulders are already doing enough. Gareth Waite Cwmbran