Freeze state spending, says Fox

The Spectator reports on Liam Fox's speech at the IEA

 

It’s been a day of competing economic prescriptions from two doctors: Vince Cable  (‘debt’s so cheap it’d be rude not to borrow more!’) and today Liam Fox, who has delivered a speech to the Institute of Economic Affairs.

His main proposal is a freeze on state spending, so it would not rise with inflation (right now, it’s rising by just under 1pc less than inflation each year). This would set Britain on a far faster path of fiscal consolidation: the high road, if you like, versus the current low road where there is no longer a published plan to balance the books.

Read the full article here.