Wednesday, 17 August 2016


The new chancellor has said that all EU subsidies are guaranteed after Brexit - all of them, funding to universities, to farmers, to poorer regions like Wales, infrastructure and so on every single one. Then we hear inflation is increasing, but not the good inflation the Bank of England hoped to stimulate by printing money and cutting what was left for savers, ie the kind that comes from growth and rising wages, no, we have the kind that comes from rising costs in a shrinking economy.

So, about this promise, I predict one of the two following scenarios, number one the promise is broken with a caveat such as, well things are different now, OR even more borrowing. The so called deficit may have been falling pre the Brexit vote but debt was still rising. Now both will rise and quickly. I'm not a fan of borrowing one's way out of debt, so, anyone care to predict what the debt will get to? No, me neither.

Malcolm Snook's Redbubble.

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