A letter in The News from Grahame Robinson, a non-industrial convenor at BAE Systems in Portsmouth Naval Base (April 1), caught my eye.
He hits the coffin nail on the head when explaining the simple truth.
It’s this – the economics of putting people on the dole and paying them to be idle is at best extremely foolish and at worst suicidal.
Quite right, Grahame. It is perfectly simple: the Chancellor can spend only what he receives in taxes to balance the books.
So the higher unemployment is, the more money has to be paid out in benefits.
The lower unemployment is, the more money is received in tax and the less that has to be paid in benefits. That’s it in a nutshell.
Hardly rocket science, is it?