Where the City’s top thinkers get a few things off their chest. Today , Neil Bennett, global co-CEO of H/Advisors, takes the pen to talk wealth taxes, the ONS, and why history’s the new rock and roll
How to get out of the fiscal black hole?
It may be the imminence of a new Labour government, but I have tax and spend has been coming up again and again recently. More specifically I have been discussing with political and policy friends how the new Labour government might possibly dig Britain out of the fiscal hole it is in and somehow find enough to invest in our crumbling public services.
So far Rachel Reeves, the shadow chancellor, has been long on rhetoric and short on policy, presumably to avoid scaring us all off. But if a new government is going to have anything to show at the end of five years, it needs to find significant sums to invest in schools, defence and of course the NHS. Simply imposing VAT on private tuition isn’t going to cut it.
The fact is, with government debt at £2.7........