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Labour like to say we are the only major economy whose GDP has not recovered to prepandemic levels. But looking at GDP at constant prices in national currency the UK economy in 2022, according to the IMF, was one per cent bigger than in 2019.
Gordon Brown entered the Treasury with low inflation, falling unemployment, steady growth, and shrinking taxes and spending. Rachel Reeves would not be so lucky – nor will the Chancellor, if we win the election.
A timely report – from Ed Balls, no less – suggests that a lack of graduates is not the reason for our productivity deficit. Rather, our productivity deficit explains the lack of graduate-level jobs.
The Prime Minister also pointed out that his opponent is a lawyer, and told the House “there is nothing compassionate about tolerating illegal migration”.
We cannot assume that everyone just automatically assumes research and development is a good thing.
A pro-science and technology agenda requires political decisions no-one is currently pursuing. Taking on some public sector trade unions. Engaging constructively with the EU. Reforming planning law. Embracing the Oxford to Cambridge arc.
Rather than a charter of exciting new ways to invade your privacy, their report is more an attempt to respond to Dean Acheson’s claim that Britain has lost an empire but not yet found a role.
Together with other recent by-elections, it is broadly in that electoral territory – but it is also consistent with a least one recent survey suggesting a wipeout for the Conservatives.
The aghast reaction of some in the political entertainment industry to Sunak’s low-key reshuffle shows many have still not gotten used to a Prime Minister more interested in quietly delivering than feeding the SW1 soap opera.
The shift to subsidies is more than the timely, targeted and temporary measures that we saw during the pandemic, and signifies a bigger change in global public policy.
It isn’t clear how Labour can meet Jeremy Hunt’s fiscal rules whilst still promising a huge investment to deliver” a green economy”.
Under Blair, the party rejected its own traditions and signed up instead to the global, liberal economic order.
His plan for 2024 is to say: “I may not be most exciting politician in the world. But I’m the more reliable of the two before you. What I promise I then deliver.” It’s unlikely to be enough on its own.
I would break this down into three broad and interconnected areas. How do we improve accountability? How do we embrace new technology? And how do we allocate resources more effectively?
We need action. And we need ministers who understand how to exercise power. They need to use that power to take decisions and make sure they are implemented.