The immigrants we had while we were in the EU were net contributors on average. They are not now.
The most sensible fiscal policy might be to state that from now on those who voted for Brexit will pay for it. Didn’t they all keep telling us they didn’t care about the fact it would make everyone poorer?
It seems that by “everyone” they meant “someone else”.
Latest economic analyses state that it has reduced UK GDP by 7-8%. That’s far more in terms of lost tax revenue than all of Reeves’ tax increases this year and last year put together.
Time for a new “Brexit tax”. Those who voted for it should put their money where their (loud) mouthes are:
UK GDP is £2.9trn. Taking the lower 7% figure these people’s decision has cost the country £203bn per year.
Total UK tax revenue is £1.1trn per year. 7% of this is £77bn of lost tax revenue per year.
So, we should levy a new “Brexit tax” of £203bn per year, £77bn of which goes to the treasury to plug the gap in tax revenues that these Brexit voters have caused, and the remaining £126bn to be split equally among all UK residents who did not vote for Brexit, to compensate them a little for what these Brexit voters have done to the UK economy and living standards.
Since it was an anonymous vote and these people were so sure that their unicorns were real I presume the unicorns must finally have arrived through the post now (despite large self-inflicted customs delays, 9 years should be sufficient to get them delivered) so I’m sure the Brexit voters will all still be proud of themselves and come forward riding their unicorns to admit proudly and publicly that they voted for Brexit and sign up to pay their share of the new tax. The £203bn tax charge will be split equally between however many proud Brexit voters sign up to admit to voting for imposing this cost on the country which they and only they should rightly pay because they will, of course, acknowledge that they should be the ones to recompense everyone else for what they’ve imposed the rest of us, if they have any decency at all (ha!).
In the “unexpected” event of only Farage and a couple of his mates coming forward and being willing to declare publicly that they voted for the lunacy once it becomes clear that they themselves will have to pay the cost of it - rather than just declaring it would “be worth it and they don’t care if it makes us poorer” but assuming others will pick up the tab for their folly - then we can safely assume that there is no public mandate to maintain the lunacy and we can rejoin the single market and customs union as soon as possible to reverse the worst of the madness. With choices come responsibility and if they refuse to take responsibility like adults and bear the consequences of what they did then their opinions should be irrelevant to policy making.
This is why taxation and representation need to be linked for democracy to function. If people can make decisions without consequences then obviously everything will get trashed, like having an out of control toddler on the loose.
Time for them to pay up for the damage they’ve caused and take responsibility, or shut the hell up for good while other people with a basic grasp of economics start to repair the damage they’ve caused.