Healey’s adviser warns ‘you won’t grow the economy just by spending more’
John Healey’s entrepreneurship adviser has warned that growth cannot be achieved by government spending and policy announcements, in a rebuke to the Chancellor and Andy Burnham as they draw up their first budget. Alexandra Depledge, the founder of property start-up Resi, who has been reappointed as entrepreneurship adviser to the Chancellor, wrote on Linkedin that [...]
Alexandra Depledge, the adviser to Chancellor John Healey, has cautioned that economic growth cannot be achieved through government spending and policy announcements. In a LinkedIn post, Depledge, who previously held the same position under former Chancellor Rachel Reeves, advised that the government should focus on building more scale-ups in the UK and driving growth through the private sector instead.
This warning comes as both Healey and Burnham prepare to present their first budget on October 28th, amid calls to increase defense spending and provide additional support for households grappling with the cost of living crisis. Burnham and Healey have hinted at the possibility of raising capital gains tax, but former Goldman Sachs executive Lord Jim O’Neill cautioned that such a move would discourage entrepreneurs and deter risk-taking.
O’Neill argued that the government should not prioritize raising capital gains tax as a means to stimulate growth, as it could have a negative impact on the number of scale-ups and overall economic expansion.
Written by urgent.news from City AM's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
