SIR: The Labour government has promised long term sustainable economic growth. The government has also promised to keep inflation in check. Now there is evidently a contradiction here. For economic growth can only be achieved by expanding the amount of money in circulation. Such an expansion of the money supply is bound to have a negative effect on the nation's balance of payments, which will, in turn, undermine investor confidence. Failure to attract investment will in turn require a contraction of the money supply, which will, in turn, retard economic growth. So can Labour deliver on its promises?
Personally I doubt it!
Anthony Makara
Broadwalk, Westhoughton
Converted for the new archive on 14 July 2000. Some images and formatting may have been lost in the conversion.
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