Moving on from a candle-powered economy
24/05/24
Nicola Willis has two possible strategies:
Manage the status quo, with a Budget focus on fiscal tweaks: reduced spending through tighter focus, and modest relief by cutting taxes, even though tax cuts when we’re running a budget deficit will keep inflation higher for longer.
Or, a new economic strategy and fiscal decisions to support a plan to restructure the economy.
The difference between the two is the difference between giving a person a fish or a net. In the old metaphor, people forget that making a net requires going without the fish for now.
I won’t be judging the Budget on whether there are sufficient hand-outs and itches scratched, the DIY equivalent of a new sofa when what’s needed are renovations.
I want an industrial-grade plan to develop the economy, grow our industry and skills sufficiently to pay for hospitals and school lunches, and keep our kids here with good jobs.
Read Josie's pre-budget column.
Manage the status quo, with a Budget focus on fiscal tweaks: reduced spending through tighter focus, and modest relief by cutting taxes, even though tax cuts when we’re running a budget deficit will keep inflation higher for longer.
Or, a new economic strategy and fiscal decisions to support a plan to restructure the economy.
The difference between the two is the difference between giving a person a fish or a net. In the old metaphor, people forget that making a net requires going without the fish for now.
I won’t be judging the Budget on whether there are sufficient hand-outs and itches scratched, the DIY equivalent of a new sofa when what’s needed are renovations.
I want an industrial-grade plan to develop the economy, grow our industry and skills sufficiently to pay for hospitals and school lunches, and keep our kids here with good jobs.
Read Josie's pre-budget column.
