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Call for manufacturing Tsar to boost UK economy

The FT reports that “A study of UK industry commissioned by David Cameron says Britain should appoint a “manufacturing tsar” to champion the sector and help deliver a prolonged economic revival.

“A report compiled by Sir Anthony Bamford, chairman of JCB, the construction machine company, says Britain should implement a nine-point plan to strengthen the role of manufacturing in the economy while cutting the country’s spiralling trade deficit on factory-made goods.”

In our view, it does not need a tsar to improve British manufacturing prospects. As we constantly argue, the country has a tax system which is little more than a structure of fines and penalties for successfully engaging in legal economic activity. Gross labour costs are about 80% higher than the net purchasing power of wages. That is the result of having a tax system allegedly based on “ability to pay”. Even a window tax would be better. Manufacturing needs no special treatment. Any country needs the tax reform we are campaigning for if they are to continue to compete in world markets.

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