Debate Magazine

Oops! Redwood Lets Slip Flagship Tory Economic Policy...

Posted on the 18 May 2015 by Markwadsworth @Mark_Wadsworth

...over at his blog, the Rt Hon. John Redwood MP has been busy deflecting criticism on his post about UK productivity.

A few of his pesky readers have been pointing out that the UK runs a big trade deficit and questioning the sustainability of borrowing (public and privately) circa 10% of GDP to keep the party going.

When a fed up sounding JR snaps back to 'Ken Moore'

"[Running a trade deficit year on year] has proved to be sustainable as many people wish to invest in the UK or buy assets here. Germany sells rich people expensive cars they do not need, and the UK sells them expensive flats so they can have additional homes."

And that's it in a nutshell, the UK exports its land (and rents) so people like John Redwood can swan about in expensive motors.  This isn't just coincidence, it is actually an economic policy.


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