In order to prop up the markets, Kier Starmer wrote an article in the FT, once again extolling the need for public sector reform. His article covers more than that, it seeks to address innovation & growth, and public sector reform, yet misses the implications on industrial policy, university investment and local authority services.
In it he emphasises the need for private sector entrepreneurialism, claiming that it’s the driver for innovation and growth, however history shows that this is often not the case, as argued by Mariana Mazzucato, in much of her work and we have the historical evidence of the water and energy industries and internet infrastructure. It also fails to recognise the contribution of labour to the creation of wealth. I feel that Labour assumes they can see the next big thing, I am not sure, but the Labour Government is very committed to energy, and AI and I am unsure about the latter as a driver for growth.
The words used on getting people back to work aren’t as bad as we might expect from Reeves and Kendall but the refusal to move on the two-child benefit cap and the plans to spy on benefit claimants’ bank accounts shows an unwelcome direction of travel.’
Reform
At the centre of my interest is the comments on public sector reform, he writes,
