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founding

Sam’s dichotomy in intro (increased public spending in a slow-growing economy needs higher taxes which slows growth) is too stark: there are ways to reform tax system that raise more revenue without hurting economic growth. Maybe a future episode on this with Paul Johnson and ... (Sam can perhaps think of another tax expert)?

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founding

Fascinating episode and central questions for incoming government. Pity that Darren Jones stuck to capital/current distinction and didn’t pick up O’Neil’s important proposal for more sensible fiscal rules with enhanced role for OBR. Incoming government will need game-changer move like the Brown-Balls independent central bank in 1997.

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