this is a government focused on growth. The situation at the moment may be unfruitful, but to simply preserve an economy without creating the grounds for growth is unproductive. A rethinking of the UK economy would bring growth, not simply tax cuts. Compared to other economies, the UK’s service-dominated economy (around 80%) doesn’t consistently drive its GDP. The USA’s GDP, for example, is composed of finance management, service, and manufacturing sectors to fall back on. Cuts to tax and public spending can also help growth, but they aren’t always necessary, like Norway’s mixed strategy of a free market with pockets of government regulation. Growth doesn’t always entail free market exploitative deregulation, and can take the form of a strategic rethinking of the economy. The argument against growth is based on the sacrifices and by-products of it, such as inflation, inequality and exploitation, as well as climate change, lobbying, and international hostility. Public spending and government regulation is a better alternative, which ensures a stable economy. The UK’s current unemployment rate is on par with the 1970s, its GDP to debt ratio is over 100%, and inflation is up by 8.8% - old-school monetary policies simply wouldn’t work in the present day UK. There are also the long-term downsides of a growth-focused economy. Global warming isn’t helped by countries with a focus on growth, for example, China and 28
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