Brexit & modern supply side economics

Brexit & modern supply side economics

I have just read Jonathn Portes’ review of Peter Foster’s book “What Went Wrong With Brexit?”. Portes looks at the economic damage, the under investment in human capital and the continued timidity of our politicians. In this review, I [hope I] add to the debate by looking at long term goals and short term modern supply side programmes, most importantly in my mind, rejoining Horizon Europe.

There's a couple of things in the article which interest me. Portes in the subtitle ensures that we understand the damage that Cameron and Osborne 's austerity has done to the UK economy. A critical conclusion from this article is that the problems in the British economy are endemic, predate the Brexit vote but are made worse by the increased bureaucracy in conducting foreign trade, and the miserly modern supply side policies of this Tory government. Portes suggests that the realistic choice, because of our political leader’s timidity is between minimal change to the future trade and cooperation agreement or rejoining the single market. Portes suggests that the minimal change suggestions i.e. fixing Brexit will not be as easy to achieve as its proponents hope.

I finish my review by looking at the contradictions in Sunak's policy by continuing to exclude the UK from Horizon Europe. It is curious that Sunak permits this policy to stand, given that he is a fan of Paul Romer's work on investment & innovation. Romer argues that growth is driven by investment in Human Capital. re-joining Horizon Europe, would be a simple remediation of a number of barriers to growth.

For the full review, press the "Read More" button.

Science & Brexit

Science & Brexit

I wrote something more on immigration and Horizon, based on the report that the UK has had three applications for its super highly skilled visa scheme. I argue that the focus on prize winners is foolish, we need the next generation of prize winners, and that being out of Horizon Europe makes UK based innovators less attractive collaborators. I make a cheap crack about how this shows the emptiness of Sunak’s ambition to be a science super power. The article is on Linkedin and Medium, entitled, “Science, the UK and Horizon Europe, again”. It was followed up in the Independent.  …

On rejoining Horizon Europe

On rejoining Horizon Europe

tI wrote an article posted on my linkedin blog, on Horizon Europe and the will they/won’ they attitude of the Tory Government. This refers to Another Europe’s Brexit Spotlight article which covers the issues including the fact that the scheme ‘s rules state that an associate member may not be net beneficiaries, and showing that the UK government is seeking to ensure that it is.

This is wrong in so many ways, but critically, the problem is that it would seem the British Government, seem to think they are ‘buying’ the grant, they are not, they would be buying the research output. The research output will be significantly larger than any individual stake and or any member states’ stake.

The final mistake they make, is that access to funding makes British universities and companies more attractive partners to other European companies and research institutes and thus underwrites the attractiveness of the universities to European teachers and students, and funds jobs for British based researchers. …