The Government’s Autumn Statement set for next Tuesday is being widely touted as the launchpad for a new round of austerity.
If a return to austerity is now likely, how do we progress as a nation?
We’re told a ‘black hole’ in the nation’s finances requires severe remedies running into tens of billions of pounds in tax rises and spending cuts.
Yet in my view, much of this commentary tackles the problem from the wrong end.
We have set the State against the market as we attempt to fix the symptoms not the root causes of our woes.
Quibbling over how high to raise interest rates, whether to levy “windfall” charges, or which taxes or pensions to cut or unlock, simply perpetuates the status quo.
I love our country as much as any other citizen, but the system seems broken and in need of urgent rethink and repair.
We need a model that rebuilds trust through shared obligations and shared accountability, at a local community level.
We need to find ways to put the family and the communities they are connected to at the heart of our policy making.
We need to put people in charge of their own destiny and trust ourselves and the relationships we can forge with one another. #bankofengland#ukinterestrates#phillipullmann#covenantadvisory#socialentrepreneur#purpose#business#politics