George Dibb

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Articles

Spending cuts today only store up problems for tomorrow

1 month ago | politicshome.com | Tom Scotson |George Dibb

4 min read Rachel Reeves was right to say that the world is changing before our eyes. The government should respond by changing its economic policy. No one would envy the position the Chancellor found herself in this week. Lower than expected growth forecasts and higher borrowing costs have squeezed the economic position that the government set out last October.
UK government launches industrial strategy ‘aligned with’ net zero

Sep 25, 2024 | sustainableviews.com | Florence Jones |George Dibb

Request Free TrialLabour has also confirmed the creation of a National Wealth Fund, but cut the amount of public money it will invest in itAt a glanceThe UK government has published a green paper outlining plans for its industrial strategy due to be published in spring 2025 and has invited businesses to respond. The strategy will drive investment into key sectors, including clean energy, and is aligned with net zero, it says.
'Labour’s manifesto is more ambitious than the Ming vase strategy suggests'

Jun 14, 2024 | labourlist.org | George Dibb

For all the talk of Labour’s safety-first approach and Keir Starmer’s ‘Ming vase’ strategy, the 2024 manifesto launched on Thursday commits the party to seriously ambitious economic and environmental targets. To hit those targets, the manifesto outlines plans to reinvigorate the state’s capacity to intervene in the economy in the service of growth and to steer it towards societal goals, much in the style of Joe Biden.
How to start a manufacturing renaissance

May 17, 2024 | newstatesman.com | George Dibb |Luke Murphy

This article was originally published as an edition of the Green Transition, New Statesman Spotlight’s weekly newsletter on the economics of net zero. To see more editions and subscribe, click here. Britain is in a profound economic quagmire. Since 2008, we have moved from an acute response to the global financial crisis, to the crystallisation of a set of chronic economic weaknesses. Some are shared with other advanced economies, but others are unique to Britain.
Budget 2024: 'The Tories want to play politics while services crumble'

Mar 4, 2024 | labourlist.org | George Dibb

Yesterday the Chancellor engaged in the usual pre-budget charade of touring the Sunday studios trying to drum up expectations for the budget by saying absolutely nothing of significance. But one thing really stood out. Jeremy Hunt claimed that this “will be a prudent and responsible” budget, but all the expected policies say otherwise. If the rumour-mill is to be believed the Chancellor is about to announce a starkly political budget – perhaps the most political we’ve seen in many years.
‘A non-dom Budget would show Labour can tax without hitting most workers’

Feb 29, 2024 | labourlist.org | George Dibb

Expectation management is starting to ramp up ahead of next week’s budget and the messages coming out of the Treasury are that economic forecasts haven’t delivered a windfall to the Chancellor, putting plans for tax cuts on ice. More intriguingly, it seems Jeremy Hunt has been looking to more progressive places for ideas, with rumours he is considering scrapping the non-dom tax rules.
'Why Labour should not roll back plans to close the private equity tax loophole'

Feb 6, 2024 | labourlist.org | George Dibb

This weekend the Financial Times reported that senior Labour figures had discussed rolling back one of its remaining tax policies. Namely, the commitment to close a loophole that allows private equity fund managers to claim their million-pound bonuses as “carried interest” (taxed at 28%) rather as income like the rest of us (taxed at a marginal rate of 47%). What’s likely prompting some to reportedly urge the Shadow Chancellor to roll back? A concern that this could deter investment.
'Labour will turn Tory economics on its head, even within its fiscal rules' - LabourList

Dec 19, 2023 | labourlist.org | George Dibb

At last month’s Global Investment Summit, held in the grounds of Hampton Court Palace, Rishi Sunak, sat alongside the CEO of Blackstone Stephen Schwarzman, said: “I don’t think subsidy races are sensible. I’m a free market person, I believe in a free economy.”To say the government’s approach to investment and growth is a little confused is an understatement.
'In 2024, Starmer must avoid the mistakes of Wilson in 1964' - LabourList

Oct 31, 2023 | labourlist.org | George Dibb

Imagine that you have just become Prime Minister. It’s your first day on the job. You have managed to scrape a narrow majority and are the first Labour Prime Minister in 13 years. You’ve run a long campaign based on your shadow cabinet’s formidable economic competence, and you’ve come to power with an ambitious “National Plan” to grow Britain’s economy. The message that carried you to victory was renewal of the United Kingdom and transformation through technology.
'The government's plans for post-election spending cuts are a trap for Labour' - LabourList

Sep 19, 2023 | labourlist.org | George Dibb

This is a story about public capital investment. I know it might not sound like the makings of a thriller, but don’t close the tab just yet. Because this is the story of how Conservative austerity has shredded the fabric of our public realm. How Rishi Sunak tried (and failed) to patch it up. And now – in a final twist – how he’s turned it into a trap for Labour ahead of the 2024 election. Public investment is the money that the government – local and national – spends on things.