Letter

THE British economy is currently in a very dangerous position.

We have seen both the Pound and the Stock Market plummet over the past weeks.

Both these are normally seen by investors, foreign and domestic, as major indicators of faith in the British economy and of confidence of places to invest.

When this current government was elected, the value of the Pound stood at £1.31 to the US Dollar, it currently stands at £1.08 to the US Dollar.

In June 2016, just before the Brexit vote, it was worth £1.49 to the US Dollar. Therefore, the value of our money has dropped between a third and a quarter over the past few years.

That is our money and is shrinking in what it can buy!

To compound this the government has currently high borrowing.

The Truss Conservative government over the past week has borrowed massively more money.

This money has been borrowed to fund tax cuts mainly for the wealthy.

The energy companies, who have been making huge and largely unexpected profits, should be subject to a windfall tax, but are not.

Our children and grandchildren will be shackled with debt for many years to come.

This is in addition to high property prices, and massive University fees.

The Office for Budget Responsibility has not been allowed to publish its concerns about borrowing figures which should raise alarms!

Important environmental policies have been trashed, allowing fracking and opening up fossil fuel oil and gas wells in the North Sea which will do little to solve the energy problem.

Only renewable and nuclear energy and insulation can provide clean energy security cheaply, with the bonus of providing skilled Green jobs.

So, we are landed with a Truss government borrowed to the hilt, with likely high interest rates and mortgages!

As well as with this we see the NHS and public services crumbling around us.

This government does not have a mandate of the voters to govern.

It must declare a General Election immediately!

Justin Beament

Down St Mary