Sir Keir Starmer’s serious and sombre address to the nation on the coming Budget demonstrated how far the Labour Party has changed. Strong fiscal discipline is important for governments, particularly Labour governments. The British economy has effectively endured 14 years of stagnation and years of austerity under the Coalition and then Conservative governments did little to stimulate the economy. As Labour seeks to go for growth it must focus on making the UK an investment led economy with a competitive tax environment and not repeating the mistakes of the past.
In his latest book, our founder John Mills argues Western governments must address their lack of industry and declining share of world trade or face yet more years of inflation, stagnation, and deteriorating standards of living.
