Tory Economic Expertise Ruins Britain

tory economic competence

Fear-mongering Tories like to point their fingers at Jeremy Corbyn and worry the electorate by telling them that he would be a disaster for business in this country. But the tsunami of businesses leaving the country due to Tory Brexit has nothing to do with Corbyn – it’s entirely the responsibility of the Conservative party, as is their disastrous economic performance.

The 2016 referendum, instigated by David Cameron, was all about the Conservative party, nobody else. Leave campaigners used misinformation, outright lies and dubious practices to win by a tiny margin, resulting in two years of clumsy EU negotiations and turmoil. Urgent, domestic issues have been pushed aside while Brexit has dominated this administration’s ‘to-do’ list and the media. And now, a huge list of companies are lining up to leave the sinking UK ship and setup elsewhere.

  • Airbus – One of Wales’ biggest employers has warned that the company could pull out of the UK if its ability to compete on the global stage is harmed.
  • Dyson – An ardent Brexiteer, James Dyson is relocating the Dyson head office from the UK to Singapore.
  • Sony – Relocating to the Netherlands to avoid customs issues that would come with dealing with Europe from outside the EU.
  • Panasonic – Moved its European headquarters from the UK to Amsterdam due to concerns about the access to goods and labour once the UK leaves the EU.
  • Jaguar Land Rover – JLR has already announced it is to lose 4,500 jobs globally, and has invited staff in the UK to apply for voluntary redundnacy.
  • P&O Ferries – Has re-flagged all ships under the Cyprus flad ahead of Brexit.
  • JP Morgan – Plans to move to the continent, due to Brexit, are now well underway.
  • 36% of UK Financial Services Companies – Are considering or have confirmed relocating operations and/or staff to Europe due to Brexit.

In addition there are concerns that a ‘brain drain’ will see many academics and experts take their skills overseas. There are currently around 1500 EU doctors working in the UK and 37% of them are considering leaving. YouGov has determined that around 11% of workers in the catering industries, equating to around 330,000 people, are considering leaving the country. Architects include many non-UK nationals, two thirds of whom have considered leaving the UK due to Brexit.

Although the Tory party like to promote themselves as pro-business and hail their alleged economics expertise they clearly aren’t doing a great job.

  • On the 13th of October 2015 George Osbourne stated “We will eliminate the deficit by 2015”.
  • The Conservative Party manifeston in 2015 stated (page #9) “We will eliminate the deficit by 2017”.
  • Then in George Osbourne’s budget speech in 2015 he said “We will eliminate the deficit by 2020”.
  • And then, in the 2017 Conservative manifesto (page 64) the target date for elimination of the deficit was further revised to be 2025.

Under the Conservatives wages have remained stagnant, productivity hasn’t grown, investment is low, household debt is rising and there has been a massive increase in in-work poverty.

It’s truly bewildering to listen to Conservatives who continue to present themselves as the party of economics and competence when they are clearly extremely incompetent. Not so long ago they were telling us that they were ‘strong and stable’, when in fact they have been the exact opposite. Weak, fractured, unstable, dishonest, dishonourable, untrustworthy, unreliable, lacking compassion and blatently cruel. Tory ministers have been repeatedly accused of being ‘in denial’ over the effects that their policies are having.

This inept administration has criminally mismanaged the UK economy. They’re entirely responsible for this completely unnecessary Brexit debacle which will continue to affect the prosperity of our country for generations to come. None of this has anything to do with Jeremy Corbyn – the Tories have managed to do this without any help from him.