BREXIT - A REAL ECONOMIC FACT.

BREXIT – A REAL ECONOMIC FACT.

 

We hear a lot about the economic argument from government departments and independent bodies for the UK remaining a member of the EU.

The reality of the matter is that as a member of the EU the UK’s NATIONAL DEBT is £1.7tn., that is £1,700,000,000,000, over £27,000 for every man, woman and child and over £47,000 for every tax-payer, and it is currently increasing at the rate of £5,170 per second.

This debt has been accumulated by successive governments over the last 20 years, while a member of the EU, with the most significant increase being over the last 10 years, in 2005 it was £0.5tn. and at the end of 2015 it was £1.6tn.

 

The country is paying £48bn. per. year, that is approx 8% of what the government collects in taxes, just to service that debt, paying interest and charges, and that is set to increase to £50bn. per year by the year 2020. No wonder that the bankers and financiers do very nicely out of the UK while it is in this position.

 

The reality is that there is no way that the UK is going to be able to reduce the National Debt, and the amounts that we pay to service it, as a member of the EU. It will continue to increase, as we continue to run a government deficit and a trade deficit, and reach a point where we are unable to service the debt and need a bail out or face bankruptcy.

 

When the Government runs up huge debts we are the ones that have to shoulder the burden. We need to reduce their spending on imports and increase our manufacturing for our own consumption to give ourselves a chance.

 

James Hancock.

 

A Good Common Man.

 

( Because of what happens when “good men do nothing“ Edmund Burke)

  (E) jh.r@btinternet.com 

( Ref: DE62352)