Having voted to Leave the EU—with its high taxes, heavy regulation and protectionism—will Britain, asks Michael Tanner of the Cato Institute, use its new freedom to ditch the sclerotic welfare state?
Britain … has a new opportunity to look at spending and the overall size of government. It is worth noting that government spending as a percentage of GDP today is almost what it was when the EU was established in 1993 (roughly 42 to 43 percent). That leaves a lot of room for cutting.
In short, Britain has a unique opportunity to reform its sclerotic welfare state.
Unfortunately, the “pro-Brexit side has already made so many promises that it could result in more spending.” As Mr. Tanner notes, unless politicians have a change of heart, replacing bad EU policies with bad British policies will do little to help the average Brit.
More from Michael Tanner here: