Hayek and Friedman are just what we need


Madsen has a letter in today's Sunday Telegraph, responding to a piece by Matthew d'Ancona, and taking issue with his implication that the ideas of Hayek and Friedman are not relevant to modern Britain. On the contrary, says Madsen:

"Their commitment to market forces is precisely what should inspire the Coalition to undertake a bold pro-growth strategy. Cutting public expenditure, especially that which is wasteful, is only part of the story. The burden of taxes and regulation must also be tackled so that growth can be unleashed to create the jobs of the future."

And although Matthew d'Ancona seems to want a soft and cuddly Tory party committed to high public spending, Madsen disagrees:

"If the Tory brand does need more detoxification, this will not be accomplished by positioning them as the party which can best manage a state-directed economy. It will be achieved by presenting the Tories as the party which can restore the nation’s shattered finances and create opportunities for people to better their lives. People will not judge them on whether they relished cutting spending. Instead they will ask if they stopped spending other people’s money recklessly, and managed to let private enterprise and ambition generate the growth it does so well."