Budget 2024: An economic policy of 'easy targets'

“The government is right to balance the books on revenue spending.  In the absence of strong economic growth, that requires some tax increases.  However, the government seems to be picking easy targets that are not coherently linked to wider policy goals.  For instance, increasing NI costs on employers, many of whom are on the brink after cost inflation over recent years, while simultaneously seeking to grow the economy are at odds.  Mandating private schools to offer more bursaries to low-income families would improve educational outcomes for children from disadvantaged backgrounds and relieve pressure on state schools who are struggling to fill teacher vacancies – but removing charitable status and introducing VAT will harm educational outcomes and increase pressure on state schools in some areas.  Policy goals should inform tax and spend, not the other way round.”