Jeremy Hunt needs a laser like focus on growth to save the Tories, says John Longworth
The question is whether the Chancellor pivots or pirouettes in a crucial Autumn statement where he needs to generate economic growth.
The upcoming Autumn Statement marks a rare moment in which the political landscape is about to be defined for years to come and the future of the country determined.
Ultimately actions speak louder than words although they may take time to have an impact and thus it is this statement which will define whether people feel better off economically and optimistic about the future.
The UK economy has been dragging a ball and chain of debt and poor productivity.
This was further exacerbated by the imposition of highly damaging lockdown policies and finally driven by the cost of living crisis created largely by extremist Net Zero policies, implemented without proper preparation and magnified by war and the Covid hangover.
Given this drag anchor of events and the smorgasbord of headwinds, a perfect storm battering our economy, Brexit shines brightly and affords a great opportunity to turbocharge growth, if only our politicians are determined enough to want to deliver general prosperity rather than protecting the vested interests of the few.
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It is only through growth that public services, including the NHS can continue to deliver. Without growth we face continuing, relative decline.
It is quite simple and three things alone will go a long way to this end.
This latter has been flawed in the U.K. for decades, in particular for next stage growth as it often involves the loss of control by business founders.
Deregulation has only been addressed at the margins so far.
But it is the cumulative impact of regulation that weighs down entrepreneurial businesses - the innovators and disruptors, so that the sell out or give up.
Business taxes are a major drag on investment and enterprise and distort markets.
The Chancellor should reverse the increase in corporation tax and aim for 15 percent and eventual abolition.
The threshold for VAT should be raised to £250 thousand of turnover. EIS and CGT remain crucial to investment.
The Independent Business Network of family run or owned businesses identifies these measures and others in its Submission to the Chancellor.
Fixing the U.K. economy is a journey, but what the Chancellor does at this stage will define our prosperity for decades to come.