LATEST NEWS FROM PARTNER CAP X
19 March 2018
New Direction | The Foundation for European Reform is an international partner of CapX, a digital service which commissions and aggregates the best news on popular capitalism from around the world.
The absence of big announcements in the Spring Statement was no surprise. Besides balancing the books, this government doesn't have an economic policy. There's no tax reform agenda, no plan to improve competitiveness, no idea how to boost growth. If the Tories embraced an ambitious economic plan, their lives would get a lot easier.
At first glance, we have a lot to learn from Tokyo's approach to housing. Simple planning laws mean the cost of housing has stayed low even as the city's population has grown. But, unlike in Britain, Japanese homes are not stores of middle-class wealth. And so following Japan's example in the UK is easier said than done.
In the last ten years, Russia has subverted Ukrainian democracy, fomented war in Georgia, annexed Crimea, tampered in Western elections and murdered Putin's rivals. The Kremlin is determined to take on Nato, Western values and liberal norms. The UK should acknowledge that we are fighting a new Cold War - and stand up to Putin.
Central planning doesn't work. That is as true of labour as any other market. Which is why Britain's immigration system needs a radical rethink after Brexit. If the government auctioned visas, their value would be a true indication of need. Such a scheme would boost the economy and provide a cash windfall for public services.
Jeremy Corbyn's reluctance to unequivocally condemn Vladimir Putin has outraged most commentators, but he may not mind. His instinct is to side with the West's opponents. And he may also think that, if the mainstream condemns him, he must be right. Worryingly, this could make him stronger.
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