> When it comes to growth, Britain’s politicians will the ends but not the means. They run scared of the homeowning elderly, who turn up to vote and make up a growing share of the electorate. So tax rises are heaped on businesses and workers instead, further harming the economy. The government has likewise watered down its plans for reforming the planning system—because elderly homeowners object.
This is it - over taxing and over regulating productive activity eventually leads to less growth and lower standards of living.
This is it - over taxing and over regulating productive activity eventually leads to less growth and lower standards of living.