The next recession — and Labour’s response
Every recession in Britain in the past half century has occurred when a global shock has been coupled with a period of weak economic performance at home. As we enter the autumn of 2019, we’re facing the same situation.
The Bank of England would normally take on the heavy lifting by reducing interest rates — but in 2019, persistently low interest rates limit the power of the Bank to help.
With little monetary policy firepower available, the answer must therefore be a fiscal one. But such a growth boosting infrastructure programme takes time and the government has failed to plan.
In The Next Recession and Labour’s Response, Labour MP Darren Jones predicts an imminent recession and calls on the government to act now.
He calls for two economy-wide missions backed by a fiscal stimulus: solving our productivity challenge and tackling climate change. In delivering both, he advocates for a radical technological transformation of both the private and public sector. And at a time when international investors are looking for opportunities in the advanced economies, Darren suggests that his own party should reprioritise its own policy priorities: moving away from re-nationalisation and towards technological transformation.
You can read Darren’s pamphlet below