In this week’s autumn budget, the chancellor took the bold and correct decision of redefining public debt to enable her to invest in our vital infrastructure. This has created a massive opportunity and represents one of the biggest shake-ups of the fiscal framework which has been holding us back.
But I wish she had been courageous enough to make sure the wealthiest pay their fair share of tax, so we can support in the poorest in society, and rebuild our vandalised public services. Making vital investments in physical assets, without seriously investing in people and public services, is like trying to drive a car with the accelerator down and the handbrake on — it’s just not going to get us where we need to go. A new school building won’t stop kids coming to class too hungry to concentrate.
The chancellor could have gone much further, and with bolder changes to taxes and borrowing, she could have spent more on urgent changes, like lifting children out of poverty by scrapping the two-child limit, or keeping bus fares low for people around the country.
NEF was in the news shaping the debate on the budget: Danny Sriskandarajah was on LBC and Channel 5. Hannah Peaker was on BBC Radio 2 and quoted in the Guardian. Tom Pollard was on BBC Radio 5 Live. Chaitanya Kumar wrote for LBC.
Building the homes we need The economic and social value of investing in a new generation of social housing, set out in a new report.
NEF analysis of the economic benefits of scrapping the two child limit were covered in the Daily Mirror, the Independent and the Big Issue
Capping ambitions A new report on recognising the economic benefits of reducing child poverty by scrapping the two-child limit and benefit cap
New Economics Podcast: What to make of the Labour government’s first budget? The Autumn Budget was the most significant since George Osborne implemented austeiryt in 2010. Rachel Reeves announced one hundred billion pounds for infrastructure, forty billion in tax rises and a whole host of policy changes, which she hopes will deliver Labour’s mission of national economic renewal. But what does an extra hundred billion pounds mean for the UK? Are we finally taxing the wealthy properly? And has the chancellor gone far enough to rescue our public services? Ayeisha Thomas-Smith is joined by economist James Meadway and NEF directory of policy and advocacy Hannah Peaker.
Sewage in our rivers but bonuses for water bosses Danny Sriskandarajah was on BBC’s Question Time to discuss a range of topics including water companies, reparations and the NHS.
How Rachel Reeves could change the fiscal rules Chaitanya Kumar was quoted in PoliticsHome about how the government could swap the debt rule with a net worth rule.
Here’s what Rachel Reeves needs to do in the budget to fix our economy Chaitanya Kumar wrote for Left Foot Forward about what NEF wanted to see in the autumn budget
Tax is necessary to pay for good quality public services Hannah Peaker was on LBC News to talk about the tax rises NEF wanted the chancellor to prioritise in the budget
We need a fundamental rethink about how public finances work Danny Sriskandarajah spoke to BBC 5Live about the fiscal changes needed to ensure we have public services that are fit for purpose.
A duty of care Anna Coote was on BBC Radio 4’s Start the Week to discuss the crisis in adult social care and whose responsibility it is to fix it.
Why private developers won’t fix the housing crisis Heather Kennedy spoke to BBC 5Live about how public housing is a crucial part of the solution to the housing crisis
