Dr Steve Davies comments on the latest OECD figures
“With economic turmoil gripping Europe the coalition must take urgent action to ensure the UK is protected as far as possible. The basic situation is that we are now seeing the consequences of decades of reckless spending by governments on the back of unrealistic expectations of future growth.
“So far we have escaped the worst of it, but with growth faltering the coalition will struggle to deliver on their pledge to close the deficit. What is needed in addition to reducing the burden of taxation and regulation is a positive strategy for growth through supply side reforms. Further reductions in spending, deregulation across all aspects of business, especially planning and employment, and tax reform are all vital.”
Notes to editors
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