Britain’s exit from the European Union destroys the Conservative Party – Observer

In recent weeks, the Conservative government has learned a big lesson about sovereignty. The United Kingdom left the European Union to regain its independence, but the markets showed the limits of sovereignty. The devaluation of the British pound and the collapse of the British stock exchange showed that no sovereign could resist ideological excesses and wrong decisions. The Truss government’s mistake was its attempt to combine tax cuts with increased spending. Markets have not forgiven.

But the ideological drift of the conservatives also helped them make another fatal mistake, or rather, a fatal combination. Conservatives view the path to a low-tax economy and a small country as the logical outcome of Brexit. The association between Brexit and liberal economic policy was the Tories’ biggest mistake, and perhaps the most punishing in the long run. Linking a healthy goal – reducing the tax burden – to a bad decision – Brexit – could seriously affect future health policy for prosperity. The defenders of liberal policies in Europe did not deserve to betray the British Conservatives.

The link between fiscal policy and European integration resulted from an ideological aberration that led to the failure of conservatives to understand the European Union. Brussels has no jurisdiction in fiscal policy and the member states are sovereign in this matter. You cannot lower taxes without complying with budget discipline. Welfare state obligations, public expenditures, and debts have increased in recent decades in all European countries (such as the United States and Japan), but this has nothing to do with European integration. The fallacy of the Conservatives was the European Social Democratic Union’s opposition to a supposed liberal supremacy outside the European Union. This opposition exists only in the peculiar fantasies of the conservatives, and in the pages of the spectator.

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