Ultimately it is only hard work and enterprise that will bring about recovery and aid prosperity. We need to be globally competitive if we are to succeed.
Rescuing our economy from disaster
Britain has been brought to the brink of financial collapse. The New Party predicted that this would happen when Gordon Brown was still being hailed as one of the most successful Chancellors of all time.
Political leaders, both here and in the United States, have responded to the crisis with massive borrowing and spending programmes which fail to address the systemic problems that precipitated the crisis in the first place.
They are now intent on passing a huge burden of debt on to the next generation – rising to 70% of GDP even on the government's own conservative figures. Successive governments which had the opportunity to cut our debt during times of plenty failed to do so, thus we are now borrowing on a massive scale from a profoundly weak position.
This is the single most important issue we now face. If we cannot turn our economy around the future is bleak. We need to accept that a return to prosperity cannot come from putting up barriers to the outside world or relying on government spending. Prosperity derives from education, hard work and enterprise. To be competitive in the global economy we need to restore initiative by improving incentives and by reducing the burden of regulation and taxation.
In this section:
- A Strategy for Growth and Prosperity
- Low, Simple and Fair Taxation
- Cutting the cost of the state
- Deregulation: Industry, Employment and Incomes
- Finance and Credit
- Agriculture, Forestry, Fisheries and Foods