17 Nov '11, 12pm

The UK's economic problems are domestic, not international | James Meadway

The UK's economic problems are domestic, not international | James Meadway

The coalition’s response has been wholly misplaced. They have begun chasing a demand-led recession – largely of their own making – with supply-side policies. Steve Hilton, Cameron’s head of strategy, has been floating proposals to remove employment protection such as maternity leave, while Osborne has promised further reductions in corporation tax . There are even, staggeringly, calls outside of government for the removal of the 50 per cent tax rate paid by close to the top 1 per cent of income earners. All of this is supposed to free up the supply of labour and capital.

Full article: http://www.neweconomics.org/blog/2011/11/17/the-uks-probl...

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