According to the Chancellor’s statement to Parliament on 23 September “Economic growth is the government’s central mission.” (paragraph 3.2). Mr Kwarteng claimed that the Government’s tax-cutting policies will result in a boost to economic growth that will enable all the planned government borrowing to be repaid and future social benefits to be maintained. For its part, the Labour Party, while rejecting some (but not all) of the tax cuts, agrees that economic growth is the primary objective.
So what do they mean by “economic growth”? and is it really the answer to our problems?
