British Economy under Tories

There is too little understanding in the British public of the reasons that, under the Tories, the British economy is increasing by over 2% per year, while there is economic stagnation in most of the rest of Europe.

An important one is the reduction of bureaucratic administration. A BBC review of the French community in London revealed that the greatest motive for moving to London was the greater sense of freedom it offered them from the delays and constraints of life back home.

It is this, in a world where innovation has become a dominating theme in the economic world, which has given the impulse for Britain’s economic growth. It has taken a firm lead in the field of “Start-Ups”. It has several outstanding centres of excellence such as Cambridge and Hackney; being a major financial centre is also providing the venture capital to finance promising, innovating enterprises. This spirit of independent initiative goes deeper; 8 million people are now working alone.

Suffering under the handicap of austerity budgets the Government has nevertheless shown vision by several major undertakings: London’s Crossrail; The proposed HS2 high-speed line to the Midlands: The project for improving the rail system in the North.

This is part of their economic planning to reduce the disparity between North and South England. This includes plans to devolve power to the major cities, so that they will have restored to them authority over education, local planning and taxation etc. which were lost during the World Wars. This has already taken place in the case of Manchester. A number of Northern industrial towns have had their centres rebuilt. There are increasing signs of a return to industrial activity in the North.

Five years is not a long time in terms of economic trends. But in this time the Conservatives have planted the shoots for a British revival based on the principles of liberalism, of individual initiative and endeavour, relatively untrammeled by heavy bureaucracy and taxation.

A Labour victory in May would see a return to Socialist principles , risking a return to the static conditions we have witnessed in France.

Michael Webster
BCiP Member