Mark Littlewood writes for The Times
The accepted wisdom is that uncertainty and unpredictability in the arena of politics are highly deleterious to the economy. The reasoning goes that if businesses don’t have some very broad sense of where things are going and when, investment and expenditure decisions become much harder and much riskier. At some core level, this must be true. If you don’t know what tax or regulatory environment you are going to face in six months’ time, presumably you are more likely to delay or even cancel plans for expansion or growth.
But it may well be the case that politicians and commentators are prone to overstate just how impactful it is. Those in the Westminster bubble, obsessed by every last twist and turn in the game of politics, over-project the significance of these shenanigans on the vast majority of businesses and workers who view parliament as a distant, detached and bizarre place.
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