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Originally Posted by jfman
There’s no evidence for that statement at all. That’s just the usual BS bingo card along with anti-Semitism that the Tories wheel out. “We’re better than Greece and/or Venezuela” doesn’t strike me as a good slogan for the Conservative bus.
The fact remains a senior Downing Street advisor told us they don’t care.
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It's a matter of who and what you focus on. If you focus on things like price controls, as in Venezuela, any planned gains are more than wiped out by what should've been the wider concerns and impact. Being free and easy with money, whether from borrowing or from oil resources, rarely works out well. Our economy is in a far, far better state than Venezuela or Greece, unless and until Corbyn gets in.
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The South American country has been caught in a downward spiral for years with growing political discontent further fuelled by skyrocketing hyperinflation, power cuts and shortages of food and medicine.
About four million Venezuelans have left the country in recent years.
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But the socialist polices brought in which aimed to help the poor backfired. Take price controls, for example. They were introduced by President Chávez to make basic goods more affordable to the poor by capping the price of flour, cooking oil and toiletries.
But this meant that the few Venezuelan businesses producing these items no longer found it profitable to make them.
Critics also blame the foreign currency controls brought in by President Chávez in 2003 for a flourishing black market in dollars.
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All that in a country that should be rich from oil revenues. If the government had been prepared to subsidise the producers in some way, it might have not turned out so disastrous. The UK effectively does a simliar thing by having a zero VAT rate.