Looked at in the round, over the 2010-2016 period, the UK had the joint highest growth for a G7 economy, level with the US.
Posts Tagged: State Spending
The Government can’t deliver levelling up without more supply-side change, localism and public service reform.
Providing small businesses with technology and training will accelerate our recovery from Coronavirus.
The Budget was, if truly honest, a sign that the Government shuns spending cuts and embraces tax rises – which is ultimately unsustainable.
Ryan Bourne: Why is Sunak so taken with tax hikes – when the tax burden is forecast to be its heaviest for 70 years?
Conservative messaging implies an implicit belief that there are no major state functions ripe for reform in any fiscal repair.
The Budget should be a big reset moment for post-Brexit, post-Covid Britain. It risks being lost amidst a rush to tax rises.
It will probe whether or or not Sunak can prepare the country for that future – and perhaps succeed Johnson himself, “one fine day”.
Richard Holden: The Chancellor shouldn’t try to win a spending arms race with Labour – which we would lose anyway
Perhaps the simplest way of putting it is: it’s all about economic credibility, stupid. Because come 2024, it certainly will be.
We need to have a debate about which taxes are least damaging to economic growth. Over the long term, corporation tax ranks as being one of the worst.
Ryan Bourne: A reassuringly conservative speech from Starmer’s Shadow Chancellor. The Tories will need to up their game.
This is not to say that all of Dodds’ analysis is coherent or correct, but the days of unhinged Corbynite attacks on capitalism are over.
Neil Shastri-Hurst: Like a phoenix from the ashes of the Covid crisis, now is the time for a new social contract to arise
The present social contract was written when the number of taxpayers well outstripped the number of retirees. But times have changed.
We have seen it in the context of Europe; we are seeing it in the context of Covid restrictions. We may more of it in tackling the public finances.
Our research with low-income voters in some of these areas revealed that many are not expecting miracles. They simply want better local services.
The OBR’s horrid forecasts of an output implosion and soaring unemployment will do nothing to quell Tory resistance to tougher Covid tiers.
Ryan Bourne: Calm down, stay cool – and drop this talk of tax rises. It’s too early to know how everything will settle down.
It’s baffling why think-tanks are taking the OBR assessments as truth, given its prediction record.
Before pumping more funding into the public sector, we must restore the habit of making sure we have the money in the bank before we start spending it.