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Spending like a drunken sailor does not create a thriving entrepreneurial economy

Spending like a drunken sailor does not create a thriving entrepreneurial economy

The government will review the fiscal framework to consider whether taxpayer spending should “play a more active role in stabilising the economy” (via Getty Images) “If I announced that Budget, the Tories would be jumping up and down,” shadow chancellor John McDonnell said with a smirk yesterday morning. Indeed, Wednesday’s Budget is the biggest giveaway of taxpayer money since 1992. Borrowing will increase by £125bn. Debt will reach a record high at £2 trillion. There was some good news for taxpayers from the chancellor, like increasing the national insurance contribution threshold and fuel and alcohol duty freezes. But — […]

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