Labour Peer
Entered the House of Lords on 10 May 2000
Positions held at time of appointment: Director, Centre for Economic Performance, London School of Economics (from Number 10 press release)
My Lords, there have been two main criticisms of the Bill. The first is that it expands the size of the state and is therefore bad, and the second is that it destroys jobs. Both arguments are misconceived. I will take them in turn. As we all know, the share of taxes in GDP has increased enormously in recent years, and this Budget will set a record high. If you say that in a certain tone of...
My Lords, I congratulate my noble friend Lord Beamish. I warmly welcome this Bill for two reasons. The first is economic growth. That is obvious, but equally importantly—I want to stress this perspective—skills are crucial for people and their individual ability to earn a living. For those two reasons, it is highly desirable that we have a well-focused system of skills development led by...
My Lords, how wonderful that we have two such excellent new Ministers. We are talking about growth, and growth depends on only two things: productivity and employment. Higher productivity depends hugely, of course, on higher skills. Higher skills are not only more productive in themselves, but they also raise the return to physical capital and therefore they then induce more investment. But...
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