In a recent blog post, David Murphy, a Visiting Professor at LSE Law School, argues that, in order to stimulate economic growth, the UK Government should reconsider the restrictive financial regulations enacted after the Global Financial Crisis.
The Labour Government has made clear that growth is a top priority. However, these efforts are likely to face headwinds, Murphy explains. The Office for Budget Responsibility's economic growth forecast is low. And, if those forecasts are not surpassed, the government may be forced to increase taxes, he warns. "[I]n order to grow, the economy requires access to funding," Murphy writes. “That largely comes from the financial system. So why hasn't the financial system's efficiency come under more scrutiny?”
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