Economic policy
Sir,—Mr Lange said recently that he will stand or fall with his Finance Minister’s economic policy. Unfortunately the whole future of the Labour Party also stands or falls on that policy. Labour has no mandate to bring in such a controversial measure as the proposed GST, quite apart from the fact that it could be a disaster to those it proposes to help. Another measure of equally doubtful wisdom is the encouragement of cheap imports to keep our manufacturers competitive, while Japan, the world’s leading exporter, imports as little as possible, relying on internal competition to keep its prices down. The massive credit balance in its favour indicates how successful it has been at exporting its unemployment. Our massive debt imbalance reveals just how unsuccessful our export policies have been by allowing and now encouraging cheap imports to take employment away from our own people. — Yours, etc.,
J. SHARP. May 12, 1985.
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Press, 14 May 1985, Page 20
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154Economic policy Press, 14 May 1985, Page 20
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