Between 1997 and 2005, public sector spending rose from £336 billion to £517 billion a year. But its output has increased little, so its productivity has fallen dramatically.
Posts by Howard Flight
Lord Flight is Chairman of Flight & Partners Recovery Fund, and is a former Shadow Chief Secretary to the Treasury.
The origin of this toxic US mortgage lending was Bill Clinton’s extension of the Community Redevelopment Act, designed to encourage minority home ownership.
Behind the ‘jobs miracle’ lies a system, built on tax credits, which subsidises low pay and encourages businesses to over-hire at the expense of investment.
Recent attacks on private landlords are restricting housing supply, hurting investors, and will push up rents.
A strong lead in the polls is an opportunity to make difficult decisions about funding health and welfare spending.
By scrambling to protect traditional revenues from a changing economy, the Treasury is sending entirely the wrong economic signals.
Our current deficit could easily double in a less benign economic climate. Failure to take tough action would be reckless.
The Government’s foreign policy may deliver a good departure from the EU and stronger relations with the US, but we must have economic reform.
New EU rules – and well-meaning attempts by HMRC to soften their impact – are making it harder for small businesses to benefit from this important programme.
They now consume 65 per cent of public spending. This is unsustainable.
The present accounting rate is wrong, and the Government should intervene if necessary to ensure that it is put right.
London is as important to the EU, if not more important, than is the EU market to London.
Schools in America do not teach religion, but culture and values instead.
Overall, my advice is not to seek to reduce interest rates yet further which could have contrarian effects.
Howard Flight: The City can flourish after Brexit – and the EEA option is the safest means of ensuring this happens
Continental Europe needs the financial services of London just as much, if not more, than London needs its financial exports to Continental Europe.