TSC's Andrew Tyrie attacks govt growth plans

Author: IFAonline
IFAonline | 03 Oct 2011 | 07:50

Categories: Economics / Markets

Topics: TSC| coalition government| conservatives

tyrie

Andrew Tyrie, the chairman of the Commons Treasury select committee, has criticised the government's long-term economic policies as "inconsistent and incoherent" and said other key parts of strategy were contradictory, and at best irrelevant.

In the remarks, made on the eve of the Conservative Party conference, he criticised the government's strategy to create a green economy, its increased spending on overseas aid, and the cost of Britain's military assistance to the Libyan people.

"The Big Society; localism; the green strategy - whether right or wrong; these initiatives have seemed at best irrelevant to the task in hand, if not downright contradictory to it; likewise the huge spending hike on overseas aid and the cost of the Libyan expedition," he told the Times.

Tyrie also suggested further fiscal tightening was needed: "The age of abundance has been replaced by the age of austerity. Current policy does not adequately reflect that fact," he said, according to the Telegraph.
 
The MP for Chichester said he supported the government's short-term plans to deal with the current economic crisis, but was concerned about efforts to improve growth in the longer term, "where the gvoernment has a long way to go to arrive at a coherent strategy".
 
He said: "There is much to do, and it is not just a question of gaps in policy. A coherent and credible plan for the long-term economic growth rate of the UK economy is needed."

"In places it is inconsistent, even incoherent .... without the lynchpin of a clear strategy for growth in place, other attempts to provide a more appealing theme than austerity are unlikely to succeed".

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