Economic Challenges Facing the New Government
As the new government takes office, it faces an array of economic challenges that threaten to hinder progress. This blog post delves into the key economic hurdles Labour must overcome to steer the UK towards a more prosperous future. Stagnant Growth The UK economy faces a significant challenge with stagnant growth, a problem that has…
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A Return to Industrial Strategy
All but abandoned due to widespread fear of state intervention, industrial strategy has made a resurgence under the new Labour government. For all but a brief period under Theresa May’s leadership, since the 1980s, we’ve questioned whether we need industrial strategy at all, rather than what the strategy should be. But after years of erratic…
Growth Through Planning Reform
Why have Labour placed planning reform at the heart of their growth strategy? The UK’s planning system faces significant challenges that hinder economic growth, including inefficiency, lengthy delays in processing applications, bureaucratic complexity, inconsistent decision-making by planning authorities, restrictive greenbelt policies, and strong local opposition. Additionally, many planning authorities are under-resourced, leading to inadequate handling…
National Wealth Fund
The Labour Party’s proposed £7.3 billion National Wealth Fund (NWF) aims to address our chronic underfunding issue by injecting capital into key sectors such as ports, gigafactories, clean steel, carbon capture, and green hydrogen. While this initiative is a commendable step towards revitalising the economy and fostering sustainable growth, it raises critical questions about whether…
Interest on Central Bank Reserve
As the UK faces mounting fiscal pressures and seeks more efficient use of public funds, the debate over interest payments on central bank reserves has come to the forefront. This article examines Reform UK’s bold proposal to eliminate these payments and explores the concept of tiered interest rates as a viable solution. Reform UK has…
Triple Lock Plus
We critically examine the Conservative Party’s “Triple Lock Plus” policy, which proposes increasing the tax-free personal allowance for pensioners in line with the highest of earnings, inflation, or 2.5%. While the policy aims to provide financial security for retirees, it raises significant concerns about intergenerational equity and long-term economic sustainability. We explore the potential costs,…