There’s a solution to dire public services: make our public sector more productive
Pre-election blows are being traded with increasing ferocity by both the main parties. Do the costs of Labour’s energy policies bear scrutiny? And can the Conservatives really afford to cut taxes? All of these questions relate back to the state of the public finances. Taxes are already at a post-war high relative to the size […]
It’s time to go back to basics and go about fixing our deficit before more tax cuts
As inflation pushes prices further and further up, food has been getting more expensive for some time. But, as the cliche goes, there was never such a thing as a free lunch. This idea, well known among economists, means prosperity depends upon making the effort to raise productivity. These are concepts which Western electorates are […]
Budget 2021: The political consensus on low taxes could be completely wrong
In the run up to most Budgets there is almost always one key question shaping debate: should the screws be tightened or the floodgates opened? This time round, a near unanimous consensus has arisen. Taxes should not go up, for fear of jeopardising the recovery. Even the Leader of the Labour Party has signed up to […]
Get the Bank of England focused on the real economy
Economic policy is returning to its usual position of prominence. Fears of a major rise in unemployment are starting to worry the government more than fears around Covid-19. The chancellor’s imaginative schemes concerning furlough and other measures to protect jobs create potential problems elsewhere. So much money is being borrowed that the ratio of public […]
