Watch: NEF CEO Miatta Fahnbulleh on BBC Question Time

Our CEO, Miatta Fahnbulleh, appeared on BBC Question Time earlier this month.

She explained that reducing the deficit is not necessary, urged a new approach to tax, and discussed the Government’s pandemic response and the need to deliver on Brexit promises.

On reducing the national deficit, Miatta said:

“[The Bank of England] is literally the friendliest, most patient creditor the Government could hope for. So the choice to increase taxes and to cut — because there were cuts in that budget — in order to pay for the deficit is a political choice. It is not an economic necessity.”

On the Government’s economic response to the pandemic, Miatta said:

“The thing that it did right is recognise is that it had to support businesses, it had to support communities, it had to support families. That was completely the right call, and when interest rates are zero to negative, it also made complete economic sense.”

On the need to change how taxes are paid and what they are used for, Miatta said:

“It can’t be right that if you earn your income from a wage you pay about twice the tax than if you earn your income from stocks and shares. The big question for me is: what are we raising taxes for? I would much rather we were raising taxes to pay for long term investment…”

On the Government’s need to deliver on Brexit promises, Miatta said:

“We’ve left the European Union, but Brexit isn’t done. It was beholden on the Government to get a deal that did two things: protect peace in Northern Ireland, and protect our economy, and it’s not clear yet that that has been done.”