Chancellor's shoddy retread: Reeves must stop the doom-mongering and back UK tech, says ALEX BRUMMER
Chancellor's shoddy retread: Reeves must stop the doom-mongering and back UK tech, says ALEX BRUMMER
Share:
There are alternative ways of looking at politicians who rapidly change the script. The traditional riposte is to describe it mockingly as a U-turn. A kindlier approach is to follow the diktat of the nation’s most celebrated economist, John Maynard Keynes, who insisted that when facts change, he changes.
Rachel Reeves has embarked on an ambitious reversal with her emphasis on growth. Indeed, it is not just the Chancellor who is changing but the tone of the whole Government. Appearing on the Robert Peston show on ITV last week, Work and Pensions Secretary Liz Kendall abandoned the stale rhetoric of the Tory legacy of a £22billion black hole and waxed lyrical about all the great stuff that Britain does in tech, pharma and creative industries.
Currently it is impossible to turn on the TV without hearing Britain’s gloomster-in-chief, the Chancellor, describing how she is going to unleash growth. As laudable as this change of heart may be – getting behind Britain’s cutting-edge AI, bio-sciences, finance and creative sectors is critical – the horse already has bolted.
Turnaround: Chancellor Rachel Reeves has embarked on an ambitious reversal with her emphasis on growth. The £40billion tax-raising Budget and workplace reforms have scared employers to death. Jobs are being shed and companies, such as WH Smith (see below), are rethinking operations.
