Mark Carney, a former governor of the Bank of England, has sparked anger among Brexiteers after he accused them of having a 'basic misunderstanding of what drives economies'. Carney criticized their support for tax cuts and reduced government spending, claiming that these policies were rooted in a flawed understanding of economic growth. He said that such approaches were more aligned with 'demolition' than 'construction' and accused far-right populists, including Brexiteers, of capitalising on public anxiety to further their agendas. Other, and there are others, have a different model, he said. They are in the demolition business. As an opportunity to stoke the anger that's necessary for their project, far-right populists see the anxiety of today as an opportunity to stoke the anger that's necessary for their project.
Those with few experience in the private sector - lifelong politicians masquerading as free marketeers - grossly undervalue the importance of mission, institutions, and discipline to a strong economy, he said. The journalist, Camilla Tominey, assistant editor-in-chief at The Telegraph, took aim at what she perceives as flaws in Carney's own economic philosophy. She offered a counterpoint to Mr Carney's claims. She questioned the effectiveness of Carney's 'values-led' economic approach and highlighted the current state of taxation and public services in the UK. While Mr Carney didn't approve of tax cuts and reduced government spending, he said, the nation found itself grappling with high taxes and inadequate public services while economic growth remained stagnant.
She added that Britain might not have had realised the vision that some Brexiteers had in mind, but it certainly hadn't devolved into the economic turmoil. In her opinion, she emphasised that Britain had adopted a more European approach to tax and spending, which she considered to be failing the nation. Carney's economic philosophy was similar to that of European leaders, she said. She also raised the possibility of Sir Keir Starmer's announcement that Britain would not diverge from EU regulations if Labour were to win the next election. He added that this declaration was made during an event hosted by Canada 2020, a centre-left think tank chaired by Mr Carney. The connection between political and economic ideologies, she said, hinted at abroader alignment of political and economic ideologies. How exactly has he managed to cut taxes and government spending leads to growth, but where exactly has his 'values-led' economic approach got us? Certainly, today, we are being taxed more than ever for an overly bloated state delivering increasingly inadequate public services. But the growth is still virtually stagnant, he said. t Argentina, either. The fact is that we have quietly become a very European country in terms of taxes and spending - and like the rest of Europe, it's failing us. ''It is not that he has betrayed his pro-Remain sympathies,'' he said of his suggestions that Britain would not diverge from EU rules if Labour wins power at the next election. The Labour leader made the intervention in Montreal on Saturday, when he was speaking at an event hosted by Canada 2020, a centre-left think tank whose advisory board is chaired by none other than Mark Carney.