Time to grow up: How to boost the economy without Trussonomics

The Bunker – News without the nonsense

Podmasters

News, Government, Politics, Society & Culture

4.6 • 1K Ratings

🗓️ 22 February 2023

⏱️ 27 minutes

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Summary

Britain is all but in recession. We’re far less productive than other European countries, and take the industries that do well for granted. Trussonomics was one idea to boost growth — and we all know how that turned out. But if cutting taxes isn’t the solution to our problems, what is? Greg Thwaites from the Resolution Foundation joins Ros Taylor in the Bunker to find out. “Most of the growth that we've had in the economy hasn’t come from people being more productive, it’s from people doing more work.” “What the average UK worker can produce in an hour, it takes the average French or German or US worker ten minutes less to produce.” “You can liken the UK to a passenger jet that’s flying on one engine: it’s not safe.” www.patreon.com/bunkercast Written and presented by Ros Taylor. Producer: Jet Gerbertson. Assistant Producer: Kasia Tomasiewicz. Lead producer:Jacob Jarvis. Bunker music by Kenny Dickinson. Audio production by Alex Rees. Group editor: Andrew Harrison.THE BUNKER is a Podmasters Production Instagram | Twitter Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	My name is Stan. I'm at. Nice to meet you. So you took up photography where? I've always loved
0:05.5	photography but I turn it into earning a living at 60. I enrolled on a day course.
0:11.8	Well college. I loved going to college. It's good you can retry. I'm enrolled on the day course. But college?
0:13.0	I loved going to college.
0:14.0	It's good you can retrain and do something.
0:16.0	Yeah, yeah.
0:17.0	Let's talk about working, learning, saving and making the most of living longer.
0:22.0	Phoenix Group is the UK's largest long-term savings and retirement business.
0:28.0	Search Phoenix Group living longer.
0:30.0	Pets brings so much joy.
0:32.0	From those happy greetings at the door to the warm cuddles on the sofa
0:36.7	so give a little love back with dental life from Purina a range of delicious chues made for dogs and tasty snacks for cats that help clean and support your pets, teeth and gums, essential for their overall well-being and a happy, healthy life. They give you plenty of smiles so
0:55.3	look after theirs with dental life. Pick up dental life in the pet food aisle. Hello and welcome to the bunker I'm Ros Taylor.
1:11.1	Britain is all but in recession. Our productivity is in the
1:14.6	doldrums and has been for a long time. We've fallen behind other European
1:18.7	countries. The solution, according to the short-lived phenomenon of trussonomics was to cut taxes, especially for the richest
1:26.2	and make Britain a more attractive place to do business. We all know what happened to that plan.
1:31.4	But if cutting taxes isn't the solution to our problems, what is?
1:36.0	Greg Thwaits is an economist and research director at the Resolution Foundation,
1:40.0	which focuses on improving the living standards of people on low and middle incomes.
1:44.8	Welcome to the bunker, Greg.
1:46.2	Thanks for having me.
	...

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