More reasons to leave the EU
Today’s papers are full of reports that a Bank of England advisor, Martin Weale, is recommending an interest rate rise to curb booming house prices. Despite Bank of England interest rate increases in the last six months, house prices have continued to go up substantially. Consequently the explanation for the increase does not appear to be insufficiently high interest rates.
There is an enormous population explosion, and the law of supply and demand could well be the main factor in driving up prices. Professor David Coleman of Oxford University, an expert in demography, has said that the most significant factor in the population increase is migration which has added an average of 204,000 extra people every year since 2004. It seems likely that controlling immigration would have a more powerful effect in containing house prices than in raising the interest rate.
It would also help to preserve our countryside. The Daily Mail has reported that more than 10,000 acres of green-belt land will be sacrificed to meet government housing building targets. It seems obvious that there is a connection between the loss of countryside and the open-door immigration policy. Britain is paying in many different ways for current policies, which are the result of handing over our immigration and asylum policies to Brussels.
When we leave the EU, we will have a chance of protecting our countryside, reducing interest rates, and providing housing for the young people in Britain who with these price escalations cannot afford to buy a house.