I wouldn't say Labour had the right ideas on housing. They had a vague intention to build a (completely inadequate) number of new houses, which collided with reality pretty quickly when they weren't … (View Post)

Every generation has built infrastructure. The debt was inflated away in the post-war period more than paid off. I agree they financed the building of a bunch of crappy slums though. The state pensio… (View Post)

Not necessarily. Sometimes where there are large fixed costs you get increasing returns to scale - classically in manufacturing processes but also sometimes in government. NHS drug procurement is an … (View Post)

I don't know if you have any formal training in economics but you are much more economically literate than many who do, starting with the current Chancellor. (View Post)

Empirically, raising the tax/expenditure ratio by 1% of GDP reduces GDP by 0.75%-1% in the medium/long term. Roughly, an increase of 1% of GDP in the state sector reduces the private sector by a litt… (View Post)