Reacting to the Chancellor’s conference speech today, Tom Railton, Director of Invest in Britain, said:
“The Chancellor is right to say that investment is the solution to Britain’s economic stagnation and that cuts to public investment are a false economy that damage growth and undermine fiscal sustainability.
However, the government has inherited plans to cut public investment, driven by anti-investment fiscal rules that lock Britain into economic decline.
In next month’s Budget the government needs to set out plans to significantly raise public investment as a percentage of GDP across the parliament to build a strong, sustainable and resilient economy. This will require putting in place a pro-investment fiscal framework, which recognises the vital role of public investment in long-term debt sustainability.”
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