‘Major shift’ in economy policy planned

‘Major shift’ in economy policy planned, by the BBC.

Chancellor Philip Hammond is planning to embark on a major shift in gear on economic policy as the government embraces a more interventionist approach with increased spending on infrastructure projects. …

Newsnight understands that the remarks by the prime minister show that she now believes the time is approaching for a shift in emphasis in the defining mechanism for running the economy. She believes that in future it would be wise to lean in favour of tax and spending to allow for greater public investment.

The economies have sucked since the GFC in 2008, as Keynesian solutions have failed to create more of the bubble we got so used to from 1982 to 2007. Our political class know no other recipe, so if it isn’t working … apply more.

Hasn’t QE and the manipulation of interest rates somehow not been intervention on a massive scale?  Now they’re going to create the easy credit and spend it.  Wow, that’s bound to help the debt problem.

hat-tip Philip Barton