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" "I'm afraid the referendum resolved nothing and we do have to go back to the people and ask if what is now on offer is what they really voted for. We have got completely different views about what Brexit actually means. What has emerged over the last three years is that the prospectus on which the Leave vote was achieved was based on a tissue of lies to be frank.
PC MP (born 9 May 1943) is a former British politician, who was the for from 1997 until 2015, and from 2017 until 2019. He was the from 2010 to 2015. He has been called 'The Sage of Twickenham'.
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The big, looming, monetary issue is "quantitative easing": that is, printing money. What happens is that the government borrows from the Bank of England, not from the markets. It expands the money supply to keep the economy going and also to counter deflation without simultaneously increasing government debt. The attractions are obvious, as are the dangers. The Robert Mugabe school of economics provides a salutary warning about uncontrolled monetary expansion in generating hyper-inflation. The road to Harare is not as long as we might hope. Monetary easing may prove to be necessary but will have to be managed with great skill and care: Too little easing and the crisis drags on – as in Japan. If there is too much, the authorities face the messy task of mopping-up liquidity by issuing bonds which add to the burden of borrowing or else we lurch back from deflation to inflation. So interest rates may soon become yesterday's story.