12-Point Plan to Turbocharge Economy After No Deal

The Centre for Policy Studies have launched a new report setting out a 12-point plan for how to turbocharge the economy after a no deal Brexit. The plan includes numerous business-boosting measures including significant tax cuts for small businesses and ordinary workers, while lowering corporation tax to increase the incentives for larger businesses to invest. Tariffs are cut dramatically and free ports given the go-ahead.  A council tax freeze will also go down very well with voters…

The only question is how it’s all going to be paid for. The CPS say it can all be financed with a small short-term increase in deficit spending, keeping public sector net borrowing under the level of 4.5% of GDP it was at in 2014/15. As a leading German financial institute predicted just this week, if the UK handles no deal sensibly and slashes tariffs it can actually do better out of it relative to the EU…

Think Tank Demands Unicorn Policy

Remainers accuse Brexiteers of chasing mythical unicorns with unattainable policies. Now a right-of-centre think-tank is actually advocatingHerding Unicorns. The Centre for Policy Studies wants to boost the tech sector of the economy to help ensure Britain (already the tech unicorn capital of Europe) produces even more tech unicorns – high-growth tech companies valued more than £1 billion.

  • By introducing ‘Unicorn Visas’ to help bring in talent to address UK skills gap.
  • With an ambitious skills and mentoring programme to nurture homegrown tech experts.
  • A major skills review led by UK tech companies to address skills gap in this country.

The “Unicorn Visas” will please little Miss Fawkes immensely…

UK Experiencing Worst Decade for Housebuilding On Record

The Tories are telling the truth that house building is at its highest in a decade, unfortunately that spin doesn’t tell the whole story. The Centre for Policy Studies has revealed that despite a recent uptick, this decade is set to see house-building in England at the lowest level of any decade since the Second World War. It’s not good enough to get back to where we were year-on-year, more needs to be done to make up for a decade of lost growth…

In the 1960s, new building in England reached the equivalent of one home for every 14 people. By the 2010s, that ratio has collapsed to one home for every 43 people.

Director of the CPS, Robert Colvile described the building of fewer homes as “part of a pattern stretching back half a century.” The CPS called on Ministers to “take bold action in 2019 to ensure that the 2020s become the decade in which we break this hugely damaging cycle.” They’re right, it is also an electoral imperative for the Tories…

Centre for Policy Studies Hosts China & Britain Conference

The Centre for Policy Studies, the home of a new generation of conservative thinking, is hosting its flagship Margaret Thatcher Conference at the Guildhall on the afternoon of Tuesday 19th June.

REGISTER NOW to guarantee your place.

This year’s conference, held in partnership with HSBC, the Telegraph and City of London will focus on the ever-increasing importance of the relationship between China and Britain.

The rise of China is one of the most fundamental and transformative economic phenomena in the world today. While the business community in Britain are well aware of the opportunities it presents, the British public and politicians are not giving it nearly as much attention as it requires.

Speakers at this prestigious conference will include:

    • Rt Hon Brandon Lewis MP, Chairman of the Conservative Party
    • Carrie Gracie, former BBC China Editor
    • H.E. Liu Xiaoming, Chinese Ambassador to the UK
    • Prof Niall Ferguson, Harvard University
    • Sir Gerry Grimstone, Chairman of Barclays and Standard Life Aberdeen
    • Chen Lifang, Director of Huawei
    • Mark Tucker, Chairman of HSBC
    • Dr Dambisa Moyo, economist and bestselling author
    • Martin Jacques, Author – “When China Rules the World”
    • Dr Andy Palmer, CEO – Aston Martin

Book your ticket now

For full details, please visit: www.cps.org.uk/china

Content produced and sponsored by the Centre for Policy Studies.

Under 25s More Likely to Say State Taxes and Spends Too Much

Here’s an interesting corrective to the idea that under-25s are all raving lefty Corbynistas. The CPS has a major new report out tomorrow called ‘New Blue: Ideas for a New Generation’ – it takes an in-depth look at the future policy base the Tories could put forward to address their generational problem. It makes for encouraging reading…

Unsurprisingly the report finds younger voters are considerably more likely to vote Jezza – but only 22% say they’ll ‘definitely’ vote for Corbyn. Much less than the media narrative would have you believe…

There are also encouraging signs that young voters are not all big state freedom haters: the majority of 18-24 year olds believe the government taxes too much and spends too much on services. So do the majority of 25-39 year-olds and 25-49 year-olds…

The polling was commissioned by the CPS to go alongside their report (which does not outline CPS policies but provides a platform for new ideas and debate within the Conservative Party). Some sexy ideas on offer from the Tories’ new intake include contributions from Bim Afolami on reforming the planning system without making new laws, Paul Masterton on better use of private pensions and Alan Mak on a paper-free digital revolution in the NHS.

Robert Colvile’s conclusion is that young voters aren’t ideological socialists – they just want more money in their pocket and better services like everyone else. Yet the Tories lack retail policies to connect with these desires…

CPS Refresh Sees Leadership Change

Tim Knox, one of the nicest guys in Westminster, is moving on from the think-tank founded by Margaret Thatcher and Keith Joseph, the Centre for Policy Studies:

“After over 20 years at the CPS, it is time to seek new challenges and opportunities. I am so grateful to the many colleagues, authors, supporters and board members of the CPS whose efforts on my behalf have been extraordinary.”

Robert Colvile, formerly of The Telegraph who took over the CPS backed CapX (after a brief stint at Buzzfeed), is coming in as acting director. He wants to make the case for free markets to a new generation…

Rich Kids Winners Under Corbyn’s Student Plans

Jeremy Corbyn’s plan to abolish university tuition fees would force society’s lowest earners to massively subsidise the free education of a wealthy elite. A Centre for Policy Studies report out today says Labour’s plans “would effectively act as a subsidy from comparatively less wealthy non-graduates to graduates”. Since graduates earn on average £9,500 more a year than non-graduates, under Corbyn’s policy poorer taxpayers would foot the bill to enable a privileged few to enjoy higher salaries. For the few, not the many…

The study finds:

  • The cost of repealing university tuition fees and re-introducing maintenance grants is equivalent to putting 2.8 percentage points on the basic rate of income tax. A “significant” impact on taxpayers…
  • Corbyn’s infamous “deal with it” pledge on existing debts implied cash would be spent on amelioration. That means appropriating yet more cash from poorer non-graduates to wealthier graduates…
  • Scotland has no tuition fees, yet a lower proportion of its disadvantaged students go to university. So the policy when applied doesn’t even achieve its stated aim…

As the report admits, there is clearly a sense that “intergenerational unfairness” is an issue, especially among young voters. It suggests helping young people to get on the housing ladder would be a better way of addressing this. In defence of his plans, Jez has repeatedly dishonestly claimed that fewer disadvantaged young people are going to university. He is exploiting the credulity of youth…

Abandoning Austerity Wouldn’t Increase Wages

Boris, Jeremy Hunt, Justine Greening and other MPs flirting with Torbynism should read today’s Centre for Policy Studies report ‘Abandoning Austerity is No Solution‘.

Ireland’s significantly larger fiscal consolidation has seen it experience a larger fall in its deficit, a larger proportionate fall in unemployment and better wage growth than the UK, counteracting the narrative that a higher level of austerity leads to economically harmful outcomes. If only Osborne had been as radical as his Irish opposite number Michael Noonan. Osborne excused his lack of radicalism on the deficit on the grounds he was in a coalition and “had to get re-elected”. Fine Gael were also in a coalition and got re-elected… 

This is reflected across other OECD countries that had a large budget deficit in 2010. There is a strong correlation between those countries that cut spending by a higher degree, and countries which achieved better economic growth and better wage growth.

As the CPS says:

“Even John Maynard Keynes argued that austerity should be used at the top of the business cycle, and it is vital that the UK’s budget deficit continues on a downward trajectory… In fact, the UK’s budget deficit reduction programme is already very modest and the UK’s tax burden is already set to climb to its highest level in four decades by 2025.”

The report finds that the only responsible ways to increase public sector wages would be to re-gear spending priorities, for example by making savings in the international aid budget or ring-fenced pensioner benefits. It also suggests further extending regional pay structures (apart from London weightings, there are no other areas of England where huge differentials in cost of living are matched by pay). Take note Torbynistas…

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