Boris set out a strong defence of free market economics as the UK leaves the EU. It's a positive vision but one that can't just be words, but needs deeds too. The Adam Smith Institute looks at what the Prime Minister’s speech to Conference said and what it should mean.
Deputy Director of the Adam Smith Institute, Matt Kilcoyne, said:
“It’s refreshing to hear a Conservative Prime Minister backing dynamic free market capitalism and damning failed socialism. If the Prime Minister wants to send Corbyn into orbit, he needs to match his words with deeds. A high skill and low tax economy is possible post Brexit. But it will mean bringing down the fifty year high tax burden on businesses and individuals. It will have to mean reducing trade barriers with the USA, Commonwealth and Asian markets.
“It will also mean making sure we’re paying our way. It may not fit the zeitgeist, but Britain is still running a deficit, and government debt stands at over £1.8tn. We must not pass the buck to the next generation. The best way to do this is through growth, so it’s good to hear the Prime Minister reiterate his commitment to decreasing red tape, increasing in capital allowances, founding new freeports, and championing free trade.”
Daniel Pryor, Head of Programmes at the Adam Smith Institute, questioned the love-in for the NHS:
“Boris set out a bombastic Conservative case for the NHS, but he left out some crucial stats. Cancer survival rates in the NHS are behind the likes of Australia, Denmark, Ireland, New Zealand and Norway. Healthcare free at the point of use, but using private providers, is an elegant solution to a simple problem. It’s tried and tested right across Europe and it means longer healthier lives. Boris’ love for free market capitalism and the dynamism of service and innovation it provides should extend to our national health rationing service.”
For further comment, or to arrange an interview, please contact Matt Kilcoyne on 07904099599 or email email@example.com