The key word is "budget". Do the maths. For example the British 2018 budget at £814 billion that breaks down to £67.83 billion. Total GDP for 2018 estimated at £2029.8 billion. To collect £814 billion budget a extraction rate or tax of 3.34 percent per month would yield £67.83 billion per month or £814 billion per year. As taxes are above the 8 percent threshold, the government will collect the budget, spend it, re collect it, spend it, recollect it, spend it in a cyclical pattern many times in a single budget year. In effect it will be like Keynesian economics and the printing of money except instead of printing physically, the printing is done by recycling it. Taxes thus become compounded. Government tax at 30 percent in the first cyclical would extract that value leaving 70 percent. Then in the next cycle extract another 30 percent leaving 40 percent. The next 30 percent extraction in real terms is facing 40 percent left of the economy and in real value terms is 70 plus percent. Once all the value is extracted of savings, investments of ordinary people the whole nation government borrows against a " an economic crisis".

Unleashing Britain's full potential after Brexit can only be done by overhauling it's static value system to one that reflects a market system.

The IMF fixed cross rates goes against the free market system. The IMF fixed cross rates are based on the exchange rate of the US dollar against the Sterling pound. On the 30th of March 2018, the Sterling pound value to the US dollar was £1 equal to US$1.404. The Euro value against the Sterling pound was £1 was equal to €1.140 while against the US dollar it stood at US$1 to €0.81169. By dividing €1.140 by €0.81169 it gives the cross rates of 1.404. When looking at the North Korean Won its Sterling pound value stood on the same day at KPW1,263 while its US dollar value at KPW900.69 giving a cross rate of 1.403. For the Japanese Yen on the same day the JPY149.067 for the Sterling pound manifested and JPY106.185 for the US dollar giving a cross rate of 1.404. The same picture is seen in the Indian Rupee INR65.06 per US dollar against INR91.36 per Sterling pound to give a 1.404 cross rate. The Canadian Dollar CAD1.288 per US dollar against CAD1.809 per Sterling pound to yield a cross rate of 1.404. The Ethiopian Birr ETB27.56 per US dollar against ETB38.69 per Sterling pound gives 1.404 as a cross rate. The Chinese Reminbi CNY6.272 per US dollar against CNY8.812 per Sterling pound gives a similar cross rate as all currencies across the world do. The question is do all money markets across the world have day in and day out the exact liquidity of Sterling pound and US dollars to reflect the exact exchange rate between the UK and US as reflected in the IMF fixed cross rate system. The reality on the ground is IMF fixed cross rates distort the market and value of the Sterling pound between markets and thus undermining free trade. The next genesis of Brexit for the UK is to move towards Free Floating Cross Rate to reflect the real position of currencies within markets and let currency arbitrage equalise quotations between markets. It is in this scenario that domestic and international economic policy will thrive. After all Economics 101 teaches us that Adam Smith's Supply and Demand doctrine which talks of Country X with Commodity X with Currency X. It is the supply of Commodity X and it's demand bought by Currency X that creates a PRICE. If Country Y wanted Commodity X then Country Y would have to change its Currency Y into Currency X to buy Commodity X. Determining that price should be up to markets and not IMF fixed cross rates. It is this straight jacket that the UK economy has to escape.