Government needs to up its game
RATHER like telling someone to be confident, exhortations that this year’s Budget would do wonders for economic growth are likely to fall on stony ground.
There’s talk of ambition, but the reality is the words, can’t magic economic growth out of nowhere.
This was allegedly a Budget for growth, but one where the only explicit economic investment was an offer for matched funding for a Victor Hugo Centre three years down the road.
And islanders will be sceptical at the argument that investing in areas of the public service can ‘help to identify new business opportunities, improve physical and digital connectivity, and identify and support the skills our economy needs’ and drive this economic growth.
‘Public investment alone does not guarantee economic growth, but without public investment you guarantee economic stagnation,’ Deputy Trott added, rather more sensibly, in these pages earlier this week. And he is right when he refers to government’s current focus on penny-pinching and fire-fighting, and that without public investment, we guarantee economic stagnation.
But economic growth comes from confidence, and that’s largely confidence from individuals and businesses, not driven by government.
And a public feeling like they’re having their pocket picked on spurious economic grounds won’t be buying it.
If it gets this tax cash, government really needs to up its game.