More intervention won’t bring prosperity
Reaction to chancellor Philip Hammond's speech
“Focusing on the centre-ground might seem to be electorally sensible, but is economically undesirable. This was an alarming attack on free markets and the Prime Minster’s pledge for more state intervention in business completely disregards the evidence that competition, deregulation and a light-touch approach breeds the best results.
“Using taxpayers’ money to keep outdated and unsustainable industries on life-support, and advocating vanity projects such as HS2 and Hinkley Point is severely misguided. The cost-benefit analysis of HS2 shows it is poor value for money and will do nothing to deliver economic benefits for the region.
“It has been precisely aims to reduce the deficit and allow business to be free and competitive that has moved the UK towards prosperity and growth. If the Prime Minister wants to pave the way for a more vibrant and dynamic economy that benefits workers and consumers alike, she would do well to embrace enterprise and competition, leaving more state intervention at home.”
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