Pranesh Narayanan
@Narayanator
Senior Research Fellow @IPPR
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Today’s industrial strategy made some clear strategic choices for the future direction of the UK economy. IPPR found that there are opportunities for the UK in three key clean technology industries, all of which are featured in the strategy 1/8
💷 | NEW BLOG: A war on bills should be the government’s defining campaign – showing it’s on the side of consumers and tackling the cost of living from energy to food to housing. Read the latest from us here ippr.org/articles/a-war…
Did all the US-based founders leave because of their exit tax? (US, France, Canada, Germany and Japan all have exit taxes) lse.ac.uk/news/latest-ne…
Today we're publishing an Open Letter from over 150+ founders & investors across our startup & scaleup ecosystem to the @RachelReevesMP warning against a so-called 'Exit Tax'. You can read the letter and sign on at no-exit-tax.co.uk
The US, Germany, France, Japan and Canada all have exit taxes, the literal point of one is to reduce the tax incentive to change residencies. Right now the incentive structure is to grow a business in the UK and move abroad to sell it. lse.ac.uk/news/latest-ne…
With all the exit tax rumours (whoever briefed them is a fool), some people are claiming that billionaire wealth is immobile so we don't need to worry about capital flight. I thought I'd do some quick research into the UK's wealthiest people, and how mobile their assets are...
The US, Germany, France, Japan and Canada all have an exit tax - the only G7 countries without one are Italy and the UK. I wonder how many founders moved from the US to Italy when they were shocked to this. lse.ac.uk/news/latest-ne…
new @BritishProgress piece w/ @pdmsero on exit tax: tl;dr: - exit tax pushes founders abroad, killing new economic engine just as it matures - briefing is like causing bank run & kills any upside - tax rent-seekers, not those rebuilding British dynamism britishprogress.org/articles/kill-…
World’s biggest isolated grid - Western Australia’s South West Interconnected System - hits new peak of 89% renewables Not long ago, Big Oil propagandists were explaining to us why 20% renewables would collapse the grid and the economy reneweconomy.com.au/worlds-biggest…
What exactly do Americans gain from hosting these great predators? apart from the oligarchy and our captured politics?
This chart makes me laugh each time I see it. While the US with its innovation and free market entrepreneurialism runs ahead, Europe with its bureaucracy, overregulation and left mindset is stuck with industries from the last century. On its way to become an open-air museum.
“Productivity” for public sector workers is proxied in national accounts by their compensation. There’s no great alternative for validation—how do you measure the productivity of a soldier or a fire fighter? So this shows that real public sector pay only grew slightly since 1997.
Grid scale batteries are changing our electricity system. Excellent new visual story on batteries in FT today shows just how far this technology has evolved. Fasten your seatbelts, this is just the beginning. ig.ft.com/mega-batteries/
ah yes, a whopping 15% of people want taxes and spending cuts, whereas 40% want higher taxes and more spending. Other ways to see it, even when there's 'record' favourability for tax and spending cuts, 85% of people DO NOT want this
Interesting from the Economist: "Public attitudes to the size of the state tend to be thermostatic, with voters saying they want spending to rise after a period of retrenchment and to fall once taxes go up. Britons are on the turn of the cycle: the share wanting both tax and…
The IMF are making a category error, classing broad-based support to all businesses as industrial policy (i.e. R&D tax credits, which the UK spends more on than any other countries), we spend so much precisely because we're so scared of 'picking winners'
The cost of UK industrial policy is larger than the EU average and almost 50% more than Canada. The IMF’s latest report warns about serious fiscal costs and misallocation when governments try to pick winners. It singles out the UK showing the scale of the cost to our economy.
Where does the growth come from? Where is the nexus to production output?
So schools and hospitals (public services) should take out private sector loans to buy their solar panels? The Treasury always has cheaper borrowing costs than private banks, why do we want to make it more expensive to roll out renewables by giving banks a cut?
Today's announcements double down on his ideological approach. Installing solar panels on schools and hospitals does save money on bills, but should be financed privately. Getting GB Energy to finance these projects is a waste of scarce taxpayer funds.
Only scenario where @Sjarichards proposal cuts energy costs: Putin stops his war, Europe forgets the whole thing, pumps itself full of Russian gas again Meanwhile, scrapping clean power takes the wind out of Britain's emerging new energy economy, putting jobs and firms at risk
I advised Boris to expand offshore wind – but we now need to pause our renewables rollout and scrap the 2030 clean power target. Ed Miliband is wrong. The greatest threat to climate action is not right wing billionaires buying up TV stations. It is expensive electricity. 🧵
Factcheck: 16 misleading myths about solar power ✍️ @Josh_Gabbatiss @MollyLempriere 🎨 @tomoprater @joejgoodman Tom Pearson Read here: buff.ly/D1TjpR3
Some argue the UK would be better off with less regulation and higher CEO pay. But such a model leads to higher inequality and lower living standards for many. This is why we’re calling for maximum CEO to worker pay ratios of 10:1. Sign our petition: you.38degrees.org.uk/petitions/it-s…
Telling that its the manufacturing sector that is driving lower growth in the UK but @EdConwaySky isn't drawing enough attention to Trump's tariff war - the global uncertainty is terrible for UK manufacturers
📽️ How is the UK economy doing? Which sectors are doing well? Which ones are imploding? And what does this all spell for @RachelReevesMP? A quick primer off the back of this morning's monthly GDP figs👇
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