{"id":160250,"date":"2019-11-21T09:00:50","date_gmt":"2019-11-21T14:00:50","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=160250"},"modified":"2019-11-21T07:20:27","modified_gmt":"2019-11-21T12:20:27","slug":"three-reasons-why-uk-labour-party-manifesto-will-bring-economic-chaos","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/11\/three-reasons-why-uk-labour-party-manifesto-will-bring-economic-chaos\/","title":{"rendered":"Three reasons why UK Labour party manifesto will bring economic chaos"},"content":{"rendered":"
November 21, 2019<\/div>
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By George Prior<\/strong><\/p>\n

Jeremy Corbyn\u2019s Labour party\u2019s radical Marxist manifesto will bring far-reaching economic chaos for Brexit-battered Britain, affirms the boss of one of the world\u2019s largest independent financial advisory organizations.<\/p>\n

The founder and CEO of deVere Group, Nigel Green, is speaking out as the opposition Labour leader unveils his party\u2019s manifesto on Thursday ahead of next month\u2019s\u00a0UK general election.<\/p>\n

Mr Green says: \u201cLabour\u2019s Marxist manifesto is the most radical and dangerous in decades.<\/p>\n

\u201cIt would bring far-reaching economic chaos for a Brexit-battered Britain already on the brink.<\/p>\n

\u201cCorbyn and McDonnell\u2019s agenda would create a nightmarish scenario that would hit those very people the most that it is proclaiming to try and support and protect.\u201d<\/p>

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He continues: \u201cThere are three fundamental reasons why the Corbyn-led Labour manifesto would damage the UK economy.<\/p>\n

\u201cFirst, it would drive down already stagnate business investment in the UK.<\/p>\n

\u201cThe mammoth nationalization programme will leave companies thinking \u2018who\u2019s next?\u2019 Plus, the snatching of 10 per cent of the shares in every big company and a significant increase in trade union power, including a return to collective bargaining, will leave UK and international investors justifiably concerned that their investments will not be safe under Labour.<\/p>\n

\u201cThis will seriously erode any attempts to generate long-term, sustainable economic growth.\u201d<\/p>\n

Mr Green goes on to say: \u201cSecond, it would trigger an exodus of some of the most successful and wealthiest individuals.<\/p>\n

\u201cThis would likely be due to concerns regarding Labour\u2019s stance on inheritance tax, income tax, stamp duty and capital gains tax, potentially even capital controls, and the slashing of pensions tax relief.<\/p>\n

\u201cTypically, these people have the resources to move to safe lower tax jurisdictions if the tax burden in Britain becomes too great.<\/p>\n

\u201cShould these largely job and wealth-creating, tax-paying individuals quit Britain, the government\u2019s finances will suffer significantly because they contribute a disproportionately large amount to the state\u2019s coffers. Indeed, they prop-up the system.<\/p>\n

\u201cAnd third, a renegotiation of the Brexit deal, which would be put to a second referendum, would create many more months of uncertainty for businesses.\u201d<\/p>\n

The deVere CEO concludes: \u201cLabour\u2019s economic agenda is a risky gamble. Its potential for serious adverse consequences is massive.<\/p>\n

\u201cAnd whilst the radical plans are already far-reaching, this might be just the beginning, with more misguided policies to come.\u201d<\/p>\n

About:<\/strong><\/p>\n

deVere Group is one of the world\u2019s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.\u00a0 It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement<\/p>\n

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 <\/p>\n","protected":false},"excerpt":{"rendered":"

By George Prior Jeremy Corbyn\u2019s Labour party\u2019s radical Marxist manifesto will bring far-reaching economic chaos for Brexit-battered Britain, affirms the boss of one of the world\u2019s largest independent financial advisory organizations. The founder and CEO of deVere Group, Nigel Green, is speaking out as the opposition Labour leader unveils his party\u2019s manifesto on Thursday ahead […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-160250","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/160250","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=160250"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/160250\/revisions"}],"predecessor-version":[{"id":160251,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/160250\/revisions\/160251"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=160250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=160250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=160250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}