‘EU is a ticking time bomb’ Britain faces economic MELTDOWN if we remain, researchers warn

Wednesday, April 13, 2016
By Paul Martin

BRITAIN could be dragged into a euro-zone economic meltdown and suffer soaring tax rises if it remains in the EU, new research from anti-Brussels campaigners will warn today.

Wed, Apr 13, 2016

Analysis by the Vote Leave pressure group will show that Europe’s ageing population and plummeting economic productivity will lead to catastrophic new debt crisis.

Taxes will have to rise by more than 17% across Europe to fill the gaping funding shortfall, figures will suggest.

Only by leaving the EU can the UK regain the economic independence necessary to avoid being sucked into the “fiscal crunch”, the research will say.

The findings are to be unveiled today by senior Labour MP Gisela Stuart, the chairman of Vote Leave.

Figures show that public spending on pensions across the EU is forecast to rise by 2.1% of GDP by 2050.

At the same time, debt interest payments are set to go up by more than double that rate.

The combined effect is a conservative estimate that taxes will have to rise by more than 17% as the shrinking working-age population pays to support a swelling army of the retired.

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