The Government’s approach is unlikely to bring out the best from those upon whom it depends to get things done.
“Rarely can such a crucial issue have been given such cursory and one-sided analysis in our media” – the fourth piece in a week-long series.
The Chancellor’s team reportedly wants to cut it from 20 per cent to 19 per cent in 2023. Here’s why that wouldn’t be a good idea.
Pay is a business cost and, in reaction, profit-seeking firms will raise prices, cut worker benefits, slash services, or leave the sector if profits are squeezed.
The forgotten victims tend to be the taxpayer and small businesses – most of which can barely get hold of their local councillors, let alone ministers.
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.
Plus: If Sunak wishes to ingratiate himself with small business people, he should scrap the loan charge and IR35.
Modest consolidation over decades is one thing; large increases over a Parliament would be quite another.
I know that government needs a cross-Whitehall programme that actively engages with the myriad of departments and agencies.
Together with error, it is set to cost the taxpayer an eye-watering sum in the region of £4.6 billion.
This is the second in a three-part series on how to boost our economy after Coronavirus.
The Government has to generate revenue quickly, but austerity and spending cuts are not viable options.
Large numbers of people are falling through the eligibility gaps – caught between schemes for the employed and self-employed.