The UK’s General Election on December 12th is no laughing matter.
Martin Wolff, one of the most respected journalists for the Financial Times, and as a young man a supporter of the Labour Party, wrote a telling article this last weekend in support of the earlier open letter in the FT from 163 economists which predicted dire consequences for the UK if Jeremy Corbyn’s heavily socialist party won the election: rising current account deficit as a result of increased spending on combatting the UK’s carbon footprint (the UK’s footprint is just 1.2% of global emissions of greenhouse gases); a return to 1970s nationalisation of public services; a return to free university tuition fees; and a threat to entrepreneurialism and free enterprise through higher personal taxation.
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