The Guardian view on Labour’s plan for growth: the missing ingredient is clearly demand | Editorial

By: Editorial

17 June 2024 at 13:36

The UK can’t continue with policies that have produced a productivity slump and record amounts of insecure work

In the manifestos of both the Conservative and the Labour parties, there is a commitment to implementing the NHS long-term workforce plan to ensure that the country will be able to populate the health service with UK-trained doctors and nurses. However, neither of the parties are suggesting that they will fund the £30bn it would cost to employ the tens of thousands of staff they say they will train. Instead, voters are expected to believe that the confidence fairy will turn up when the next government arrives – and businesses will invest, leading to economic growth.

It is magical thinking to believe that, without actually doing anything, private spending in Britain will be stimulated to such an extent that it will more than compensate for the anticipated public sector cuts that depress it.

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