That’s why, when people talk about this as an ideological government, they are more right than they know. The ideology is growth, driven by supply-side reform of the economy. Kwarteng dispensed with Tom Scholar, his chief civil servant, and set a new 2.5 per cent growth target because he believes the Treasury has become too focused, over a period of decades, on sharing out the cake rather than increasing its size.
The moment that really signalled a new approach came when Truss was interviewed by Laura Kuenssberg the day before her victory was announced. She was confronted with a chart showing that her proposed national insurance cuts would predominantly advantage the rich. She didn’t blink. “What I am about is growing the economy,” she said. “And growing the economy benefits everyone.”
This might sound obvious. But in a political context, it is revolutionary.
…Growth, in short, is a moral issue. One of the reasons that it is so easy to over-regulate, to refuse planning permission, to stifle entrepreneurialism, is that it seems like a victimless crime. But impeding growth punishes not just our future selves, but everyone else around us.
Here is more (gated) from Robert Colville at the Times of London.
The post Will the British government remain stubbornly attached to this idea? appeared first on Marginal REVOLUTION.
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