Boris Johnson's party conference speech 'economically illiterate'

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The prime minister's speech was big on bluster but business leaders were left feeling short-changed.

"This was an agenda for levelling down to a centrally-planned, high-tax, low-productivity economy. Boris is hamstringing the labour market, raising taxes on a fragile recovery and shying away from meaningful planning reform."

"This dogwhistle shows that this government doesn't care about pursuing evidence-based policies. We can both control migration and allow migrants to fill skill gaps." He told The Times:"The finger is being pointed at business as the bogeyman, but it's much wider than that. We want to pay our people as much as possible but business is not an endless sponge that can keep absorbing costs in one go."Next year we'll have a wave of higher costs from higher energy bills, extra HGV drivers, packaging costs. We can only weather many cost increases at once, so they need to taper it.

"But it's equally remarkable to hear the benefits of a low tax economy vaunted when the government has just signed off a hike in national insurance contributions for employers, sole traders and employees alike, which we estimate will cost at least 50,000 jobs.

Source: News Formal (newsformal.com)

 

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