G7 versus Brexit

G7 leaders in Japan

G7 +:-Francois and Jean-Claude are comparing relative sizes – what are they boasting about? Meanwhile, has the G7 sacked Dave?

Leaders of the G7 countries met recently in Japan. To no one’s surprise they issued a final communiqué: apparently they believe, without offering us the evidence, that Brexit would pose a serious threat to global growth. They also believe global growth will help deal with threats to the world’s economy and security. Put these two beliefs together and the G7 leaders want us to believe that Brexit threatens world security. Perhaps they should explain.

G7 leaders are committed “to strengthening our economic policy responses in a cooperative manner and to employing a more forceful and balanced policy mix, in order to swiftly achieve a strong, sustainable and balanced growth pattern”. Who doesn’t want to laugh or groan? This, of course, refers to policy not to action, as though policies can (swiftly) achieve growth. If they could do this, why haven’t they?

“We remain committed to ensuring that growth is inclusive and job-rich, benefiting all segments of our societies.” No one is laughing at this. Perhaps they meant: “If you remain we’ll include you in our rich jobs.” With leaders who believe in fairy tales, is it any wonder that risks and uncertainties bedevil the discussion of whether Britain should stay in or leave the EU?




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