Letter: Funding our future
I read J Clift's letter, he says politicians use shortage of money as an excuse for not fully funding services like health, education and transport. This statement is not true.
He also says that they can manufacture money physically and electronically. If you do this then you will fuel enormous inflation.
In the 1960s and 70s the Labour Party printed money and deceived the British people into believing that Labour were funding public services. They increased inflation to a massive 15 per cent annually. It was almost impossible to run a business under those conditions; inflation was eating into profit margins. Many businesses went bankrupt and unemployment rocketed.
The Labour Government had to print more money to cover the increase in benefits. Inflation increased and prices of food, clothing, houses and all consumer goods shot up by over 15 per cent every year. Prices doubled every five years. Prices were out of peoples' reach and more businesses went bankrupt and more jobs were lost.
The pound was devalued and was almost worthless. We were only allowed £20 to take out of the country if you could afford a foreign holiday. We were treated like paupers on the continent. It was so humiliating.
Money changing hands inside of the United Kingdom makes no profit for the country at all.
The only way for a country to make money is to export goods and import foreign currency. This can only be done by businesses and not by governments.
Governments and political parties manufacture nothing. They have nothing to sell so they cannot make money.
You have got it wrong, Mr Clift. There is no substitution for hard work, efficient business and better products.
Tom Williams, Sutton Hill
