Nigel Green, CEO of deVere Group, emphasizes that deregulation must take precedence in Rachel Reeves' upcoming Budget as the UK faces substantial economic challenges. With the Bank of England reducing growth forecasts to 0.75% and predictions from OECD and the Office for Budget Responsibility indicating further declines, Reeves is tasked with delivering growth amidst cutbacks and austerity measures. Green argues that current austerity approaches will fail to solve issues attributed to high tax levels and discouragement in hiring, pushing for deregulation as a means to facilitate growth and enterprise activity.
Nigel Green argues that austerity-lite is inadequate and that real economic growth requires a push for deregulation, which would facilitate enterprise and job creation.
With the Bank of England downgrading growth forecasts and the Treasury warning of civil service job cuts, Labour's Rachel Reeves faces immense pressure to deliver impactful economic reforms.
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