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Long Term Economic Sham (Pt I)

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Many electors ‘bought’ David Cameron’s 2010 General Election claim that the Tories had a Long Term Economic Plan: Austerity measures – that would eliminate the deficit by 2015 – and then see us all enjoy ongoing economic growth.

 

The deficit was not eliminated by 2015

 

…. but the Tories continued to say that they had their  Long Term Economic Plan, it was running a bit late, but the electorate could trust them to continue to work it so as to eliminate the deficit … now by 2020… and then see us enjoy ..…etc etc

 

So where are we now?

 

Their Tory-forced EU Referendum took place without any planning for what actions should be taken if ‘Leave’ won.

 

‘Leave’ did win.

 

Three months later, the Nation does not yet have any useful information as to what economic arrangements will be sought in negotiations with the rest of the EU…or the World.

Different Government Ministers (and their Departments) are at loggerheads.

Mrs May is trying to maintain some control from Downing Street by throwing other difficult issues (like Grammer Schools) into the arena.

 

Nissan have suspended investment in their successful Sunderland factory  - which produces the highest number of cars in Britain ….. and are contemplating moving production of their Qashqai (their highest volume car produced with about 80% exported at present) to the French factory where its sister car is currently built.

 

Sterling has lost 15% of its value against other major currencies…  foreign holidays, cars, much food cost more.

Apologies to Harold Wilson (for those of you with long memories) but the pound in your pocket is definitely worth less.

 

The National Debt far higher today than it was when The Tories took over in 2010.

 

£9 Billion per year is being paid out of Tax Revenues in housing support to private landlords.  – for whom rates of Income Tax, Corporation Tax and Capital Gains Tax have all been substantially reduced (even if they are in the UK – which many are not).

 

The NHS, Education, Police….

All in crisis.

 

More like a Long Term Economic Sham than a Plan.

 

 

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