With so much going on economically and politically, times are incredibly challenging, and with government needing to make some difficult decisions ahead, with no easy choice; How can macro-economic stability be restored? Why is stability a pre-condition to growth? Why is growth the long-term answer?
Earlier in the year we set out our vision for growth in the UK, little did we know that only a few weeks on, we would be have experienced such levels of political and economic instability.
As we continue to restore market stability and confidence, it is essential we don't lose sight of the direct impact it has had on households, as well as businesses. Instability has driven up interest rates on mortgages and lending, it has hampered corporate decision-making, and ultimately hit livelihoods. And let’s be very clear – without stability firms will struggle to invest, we’ll have no way to bring down debt other than turning to tax rises and spending cuts, and growth will be much weaker.
Restoring macroeconomic stability remains the number-one priority right now. It's not about about politics, it's a necessity, stability is a precondition for economic growth.
We saw the Chancellor, Jeremy Hunt, acting quickly and firm
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