In a moment, I am popping out to speak at a Berks, Bucks & Oxfordshire Conservative European Forum event, How can Britain be competitive in tomorrow’s world?
Here is an ex-Prime Minister of Georgia giving the answer:
- Low and flat taxes
- Legislative commitment to reducing the government’s fiscal footprint (IE spend less!)
- Deregulation and cutting red tape
- And thereby suppressing corruption
- Unilateral free trade: no import tariffs or barriers of any kind
- Very flexible labour legislation
- No sector or industrial policy of any kind
- No subsidies, no preferences, no exemptions – no market-distorting practices
- No currency and capital controls
- Sound monetary policy with hawkish anti-inflationary stance
We must also recognise the source of the economic nationalism and interventionism which is today holding us back: the European Union. See my related article for ConservativeHome.