Keir Starmer and Rachel Reeves will need skill and stealth to make progress amid financial and institutional adversity
Without a jolt to the economy from tens of billions of pounds of extra spending, they argue, growth will remain sloth-like, only inching ahead, and the
There’s little evidence of voter support for an economic revolution based on much higher taxes or higher borrowing Should they turn on the evening news, they will see charts showing that by 2027-28 the ratio of tax to GDP is on course to reachis a recent downgrading of its ability to pay debt interest by one of the big ratings agencies. Emmanuel Macron’s ministers have been scrabbling to save more than €10bn this year to prevent another downgrade should the ratio of debt to GDP reach 117%, as forecast. The cuts caused widespread discontent and damaged his expansionist reputation.
Then we need to ask: would the state do a better job of running the water companies, the railways and the energy companies? If you think so, what is your evidence?
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