Where Is Britain’s Growth Plan?

Summary:

Britain’s economy was weak in Spring 2023, but there was a strange lack of urgency in Westminster about the problem. Unlike most other advanced economies, economic output had still not returned to its pre-pandemic level. The Office of Budget Responsibility (OBR), the government’s independent fiscal watchdog, was forecasting that living standards would not reach their 2019 level till 2027-28. But, in the run-up to an election that was likely to take place in 2024, neither the government nor the opposition Labour Party were setting out bold strategies to fix the UK’s economic problems. This article calls on the government to raise taxes on older people in order to finance public investment to benefit the young.  It argues that older people should be punished in this way for voting for Brexit.

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