The Chancellor Jeremy Hunt has used his his Bloomberg speech this morning to roll out his new “4 Es” slogan: “enterprise, education, employment, everywhere”
Setting out his plans for the U.K. economy he outlined proposals to unlock £100 billion of investment.
These include removing barriers to innovation, up-skilling the workforce, getting the economically inactive back to into employment and making sure these things happen across the UK – not just in the richer parts of the country.
He attacked the “gloom” around the UK economy, saying that since Brexit, “we’ve grown at about the same rate as Germany”
He told the audience that we have to be honest about the present, suggesting that his growth plan for the UK is being “energised” by Brexit and added that our ambition should be to have nothing less than the most competitive tax regime of any major country.’
Brexit can be a “catalyst for the bold choices” the UK economy needs, said Hunt, who added that his plan to grow the UK economy is “made possible” by the decision to leave the EU
However he said that “The best tax cut right now is a cut in inflation”
He said low taxes are important for attracting investment to the UK, but his priority is providing “economic and financial stability
He called on tech companies and innovators to “help turn the UK into the next Silicon Valley,” saying the Conservative government will “back you to the hilt”
He also sent a message to “those who retired early after the pandemic” or have not returned to employment after furlough, promising to make work “worth your while”
