Reform

Dear Editor,

I would like to offer my congratulations to the Reform Party on their significant electoral breakthrough over the past few days. Their policy regarding the placement of asylum hotels is one that I believe will resonate strongly with many residents across the Congleton constituency.


I also feel compelled to respond to the editorial comment following my letter last week, which suggested that increasing national debt is a positive development. On the contrary, the historical evidence suggests we are treading on very thin ice. The landmark research by economists Carmen Reinhart and Kenneth Rogoff demonstrates a clear "threshold effect": when a nation’s gross debt exceeds 90% of its GDP, median growth rates fall dramatically.

For the last twenty years, the UK has followed a perilous trajectory where debt levels have climbed relentlessly while our national productivity has stagnated. We are now well above the 90pc threshold. Many estimates show 100pc. The Taxpayers' Alliance rate the level at above 200pc.

To suggest that more debt is the solution ignores the reality that high debt servicing costs stifle private investment and burden future generations. If we continue to ignore the lessons of economic history, we risk permanent fiscal decline.

Yours faithfully,
Andy Large
Alsager West


   

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