The Brexit Future

That means that it will reduce our rate of economic growth.

That is the position we face which is the single most important issue in this election. It is something that has not been there since 1972 when we voted to join the EU.

Although economic growth is not the same as government revenue it is true that if the economy is shrinking instead of growing, the government revenue is also more likely to shrink than grow.

This is what I predict will be happening to the economies of the UK and the EU and which will happen to us if we do nothing to prevent it.

The other two parties in this election have not put forward an economic policy to address this issue.

The GSD is telling you we have no money but that they will spend more money on new things and at the same time reduce their income by repaying government debt.

They are not telling you the truth. They claim to have a 30-year plan for the economy. This is nonsense, I have been predicting the performance of the economy for years and I tell you it is impossible to even try to guess where our economy, or that of the rest of the worlds will be in 30 years’ time, never mind forward planning for what will happen in 30 years’ time, by which date I would have to be 110 years old to see it.

What GSD policy implies, but they are not saying, is that they will not continue funding Community Care but run it down as they did since 1997 leaving its coffers empty by 2010, as they revealed was their policy in 2010.

This is what they said when was in government in 2010: “It has been the Government’s policy for 15 years to run down the funds in Community Care so that we can make alternative and better arrangements.”

They deny that this is still the policy, but why should you believe them when they lied to Parliament and in elections between 1997 and 2000 when they promised not to touch the Community Care reserves and make sure they could meet their running costs.

In opposition after 2011 said they would cut £50 million pounds from recurrent spending but not where the axe would fall.

They have also said, and included in their manifesto, that they will close Credit Finance.

This provides commutation for civil servants to take a lump sum instead of a pension, therefore under the GSD civil servants would be deprived of this option, even though GSD members of parliament themselves have taken it up in respect of their own pensions.

They will also run down the Savings Bank and stop investing in our economy which is the priority in the Act introduced by us and passed unanimously by Parliament.

This would also mean that the Savings Bank would not be able to provide 5% Debenture for pensioners. Nor could such debentures be provided by the Government directly instead, as this would increase the government debt and they are committing themselves to reducing it. 

Even without Brexit these policies would be bad for our pensioners and negative for the economy.

Vote for our candidates so we can deliver results.

11-10-2019 PANORAMAdailyGIBRALTAR