The date at which lockdown should end is debatable. That MPs and peers should be debating it is not.
Posts Tagged: economic growth
Two extreme versions of what happens next in Britain. Events are more likely to end up somewhere in the middle.
Ryan Bourne: The upside-world of virus economics. And why we free marketeers must adapt our usual ways of thinking.
The theoretical aim of policy then should be bridging over what is hopefully a short pause in activity – eliminating near-term distress for households and businesses.
The economy and the virus. Tear up the rulebook – we need Big State Government on a scale unknown in modern times.
The implications of the crisis are such that Johnson and Sunak need not so much to think outside the box as to trample it to tatters altogether.
Budget 1) This was less a Conservative Budget than “the People’s Budget”. From a Vote Leave Government – not the usual Tory one.
It may be necessary, given the Coronavirus, and could even work. But Britain has a long, long record of state spending failing to turbo-charge growth.
Budget 2) John Glen: The challenges we face of the virus and of weak productivity can’t be met by the repetition of small state mantras
The Chancellor’s measures leave us well prepared to tackle its short-term challenges as well as helping to shape the long-term trajectory of the economy.
We can’t continue to favour projects such as Crossrail over developing infrastructure in other parts of the country which generate much greater relative returns.
Coronavirus 2) Ryan Bourne: Beware it being used as a cover for promoting socialism and protectionism
A home-focused industrial policy hardly saved China from this epidemic. And openness and markets ensure diversity of supply – particularly in medicine and food.
At the least, we can expect reduced growth worldwide – and a more expansionary Budget next month.
My answer would be “maybe, provided the spending or tax cuts significantly improved our growth potential.”
Ministers have been asked to push the Government’s priorities – tackling crime, funding the NHS, “levelling up”. How can these be effected without faster growth?
Joe Baron: Leaving the EU is a joyous expression of national self-confidence. For that, we have Thatcher to thank.
If Britain joined in a moment of self-doubt, it voted out as a confident, self-assured, optimistic, outward-looking and independent nation state.
A WTO exit at the end of 2020 is not the probable outcome – but the risk does look under-priced.
Measuring people’s incomes needs to be part of measuring progress – but we need to be careful, because different measures give different results.
Alan Mak: Five new policies to ensure that post-Brexit Britain leads the Fourth Industrial Revolution
This is the final article in a three-part series on using technology to boost our economy after Brexit.