Spending cuts work, but more must be done
Author and columnist, Matt Ridley, wins the 2014 IEA Free Enterprise Award
Mark Littlewood responds to the Bank of England's tough plans for bonuses
Mark Littlewood responds to the latest GDP figures
“These latest figures are great news for the UK economy, but reaching this point has taken far too long.
“Persistently high levels of government spending, regulation and taxation have hampered the speed of recovery in the UK. Although today’s figures are certainly cause for optimism, the UK still faces significant challenges. Productivity in the UK remains worryingly low, with GDP per capita still four percent below the UK’s pre-crisis peak.
“The figures prove that it is possible to cut day-to-day government spending without harming economic growth. Politicians must learn from this and go further. Only much lower government spending will improve the UK’s growth prospects and allow the space for long overdue tax cuts.”
Notes to editors:
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