None of them will give the right answer of course
Rachel Reeves searches for new ideas on economic growth
The chancellor is seeking advice from cabinet members as market turmoil derails the government’s strategy
The basic British economic problem is microeconomic, not macroeconomic. It’s not about tweaking demand, the balance of money in the economy, all those macro things. They’re not great, sure, but that’s not what is stymying growth.
No, we have a vast bureaucracy and NGOsphere dedicated to not allowing anyone to do anything. Blow up the planning system. Allow fracking. Shoot the people who demand bat tunnels. Leave REACH. And so on. Just kill off the hundreds of thousands who stop people doing things.
Metaphorically if you wish.
Today’s news tells us that school uniforms are to be regulated as to how many pieces of them can be specific. Also, that margins on ticket resales are to be limited.
Past weeks have given us the regulation of football. That all schools must now teach to the same curriculum and all teachers be on the same pay scales. Nationally.
The current Cabinet really isn’t going to grasp that fact that the economic problem is those interventions in the microeconomy. They’re really, really, just not going to grasp it, are they?