James Forsyth James Forsyth

A speech George Osborne should deliver

A problem for the Tories at the moment is that they lack a big idea on the economy. This is what enables Brown to unfairly paint them as a ‘do-nothing’ party.
The Tories should take inspiration from Arthur Laffer. Here’s a lightly adapted version of a recent Laffer article, that Osborne should make party policy:  

“We need to impose a tax on the thing we want less of (carbon dioxide) and reduce taxes on the things we want more of (income and jobs). A carbon tax would attach the national security and environmental costs to carbon-based fuels like oil, causing the market to recognize the price of these negative externalities. Nuclear power plants would then compete with coal-fired plants. Wind and solar power would have a shot against natural gas. Trains would compete with trucks. We would clean the air, create wealth and jobs through a new technology boom and drastically improve our national security.

Comments

Join the debate for just $5 for 3 months

Be part of the conversation with other Spectator readers by getting your first three months for $5.

Already a subscriber? Log in