Ignore the lot of them and Grind ourselves to Growth!
Tuesday 21st March 2023
Those of you who read my PPP will know that I do follow property politics pretty closely - but sometimes I really wonder why I bother!
Jumped-up Jezza’s phenomenally unimaginative budget was dull as ditch-water.
It largely ignored the glaring opportunity to boost the economy through a proper plan for property.
This ‘lazy’ effort simply does not cut the mouse-turd as a ‘Budget for Growth’.
There were a couple of good things which will help:
1. Redefining nuclear power as a green form of energy, allowing it to benefit from grants, is essential to help create a secure independent long-term low carbon energy supply for the UK. Rolls-Royce small modular reactors can be a speedy alternative to the Sizewell C’s of this world and the financing isn’t necessarily dependent on ‘challenging’ regimes- i.e. China or France.
2. Wrap-around child care for kids from 9 months onwards, so as to allow women quickly back into work to maintain their careers and the economy - is an excellent idea. See my slightly different angle on this topic in my School Schedules Suck previous blog: https://www.stanleypropertylondon.co.uk/blog/school-schedules-suck
‘Full Capital Expensing’ is also a good idea.
However, it in no way compensates for erecting a large Board (in estate agency parlance) over this country. 25% Corporation Tax is the headline description sitting fatly over UK PLC. That is simply not competitive and will not attract international investment. The Treasury persists in slavishly following EU tax rates - so much for taking advantage of Brexit freedoms.
Doom-laden predictions from the Treasury, OBR, OECD, IMF and BoE are reliable only in their unreliability.
We need to ignore the lot of them - and the politicians.
It looks like we are forced to Grind ourselves to Growth.
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