Should we trust George's figures?
THE Chancellor of the Exchequer George Osborne, is attempting to mislead the public, with his assertion that to leave the EU, will cost us all around PS4,300. He asserts, that this will be due extra taxation, and losses incurred, by no longer being part of the EU club. What absolute rubbish!
Professor of Economics, Patrick Minford has also been looking at the effects of leaving the EU. In his book, "Should Britain Leave the EU?" Published by the highly respected Institute of Economic affairs, calculates that every home would be about PS9,200 a year better off.
In his study, the Professor takes into account monetary issues which are only possible outside of the EU, such as: reduced regulation; lower energy prices; removing the Common External Tariff; setting up our own trade deals around the world (something we can not do as a member of the EU as it is not allowed by the Treaty of Rome). None of this appears to have been considered by the Chancellor in his calculations.
I wounder what odds the bookmakers would give, as to who has more economic credibility, a posh boy who does not know the price of a pasty, or a Professor of Economics? So the question must be, do you trust a Chancellor who has got his calculations so wrong, on so many occasions, the latest blunder being his 2016 budget, or a highly regarded academic and Professor of Economics? NIGEL BAKER, Middlesbrough