Rachel Reeves' Budget: A Path to Sustained Economic Growth
Prem Sikka, Emeritus Professor of Accounting at the University of Essex and the University of Sheffield, emphasizes the need for Rachel Reeves' budget to reduce inequalities and increase spending capacity of the masses.
The UK Chancellor will present her second budget on 26 November, aiming to chart a new economic course after a bleak inheritance from the 2010-2024 Conservative government. Labour's promise of 'change' has been challenging to deliver, with the economy growing by just 0.1% in August and likely to remain sluggish.
- The government is chasing sustained economic growth through a flawed economic model.
- Rising inequalities in income and wealth distribution are a key concern.
The budget must reduce inequalities and increase spending capacity of the masses to secure sustained economic growth.
Author's summary: Rachel Reeves' budget should focus on reducing inequalities.
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