Proof That Politicians Have No Idea What the UK Economy Needs

While waiting at John F Kennedy International Airport recently for our flight to Melbourne via Los Angeles and Sydney, we browsed a copy of the UK’s Daily Telegraph newspaper.

On reading one particular article, it became even clearer that the UK is a ridiculous nation.

The article reads as follows:

Tony Blair secretly considered backing a privately funded Royal Yacht Britannia two years after the original was scrapped, it has emerged.

Mr Blair welcomed “interesting and imaginative” proposals from business leaders to pay for the yacht because of its “inestimable value” to the nation…

Mr Blair eventually decided not to proceed with the new yacht — to be called New Britain — because ministers concluded “there would be insufficient calls on the vessel”.

That was all so long ago, back in 1999. So, why does it make the papers today? We’re glad you asked:

The news is likely to put renewed pressure on Mrs May, the Prime Minister, who has been resisting calls from 100 of her own backbenchers, to pay for a cost benefit analysis in relation to a new yacht, now that Britain is leaving the European Union.

Ah, just what the UK economy needs. It doesn’t need less red tape, or more innovation, or a growing manufacturing base. No. What it really needs is a big boat. Or to be precise, a boat for the Queen to carry here derriere from one port to the next.

But stop. This boat wouldn’t just be for Her Majesty. Oh no. The article concludes:

Jake Berry, the Tory MP leading the parliamentary campaign, said: “If Tony Blair, a Labour prime minister, could see merits of the replacement of a royal yacht, I hope and believe that a Conservative Government faced with the huge task of negotiating Brexit will now believe, like me, there is a role for a new ‘people’s yacht’.”

And so say all of us. In honour of Her Majesty’s German heritage, we’ll call it the Volksboat. Has a nice ring to it.


Kris Sayce,
Publisher, Money Morning

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