Liberalisations of land-use planning, infrastructure, energy, and childcare rules are crucial to improve economic mobility, deepen our domestic market, and raise productivity.
There’s an obvious precedent for the sorts of pro-growth policies that Truss is offering: that of Ronald Reagan and his supply-side revolution.
Even with growth, shrinking state spending as a share of GDP will require serious reforms and cuts to government programmes.
The aim should not be to have the government try to boost birth rates, but to remove barriers that impede families from making their own self-funded, preferred decisions.
Want an example of economic fatalism? Just read reactions to the Foreign Secretary criticising the Bank of England’s inflation performance.
The key takeaway is that she has long thought that there was insufficient focus on growth – and that good policy can deliver it.
More of the same isn’t going to cut it, and the Foreign Secretary has the boldest and best vision for change.
Businesses and employees are only responding to monetary conditions set by the Bank of England, where the real responsibility lies.
A free-market Chancellor would have prioritised growing the economy over good headlines.
As the man himself famously did not say: “When the facts change, I find new reasons to advocate for stimulus packages.”
It won’t fix the problem on its own, but this is an opportunity to drive through worthwhile reform.
Better to actually fix housing costs and student loan repayments than devise a complex subsidy.
It allows politicians to squeeze voters whilst lying about being tax-cutters at election time.
Focusing on state sanctions risks understating the scale of the West’s economic response to Vladimir Putin’s war.
The system deters labour mobility, impedes cutting-edge logistics, constrains growing industries, and prevents businesses from repurposing quickly.