The Role of Modern Government
In a tight fiscal environment, what cost neutral measures could Labour take to boost Britain?
There are many levers that should be available to a government to achieve its policy goals without having to commit substantial incremental funds, and these often are given much less consideration than they should be.
This paper shines a light on the range of powers government has to make a difference and sets out a systematic framework to categorise and explore specific opportunities.
With a foreword by Shadow Chief Secretary to the Treasury Pat McFadden, and drawing on expertise in investment, particularly in the fields of environmental, social and governance we find there is massive potential even with the tightest public finances for Labour to make a difference.
Ten roles for modern governent
1. Regulation / legislation
2. The role of regulators
3. Competition policy
4. Industrial policy, including acceleration of new markets
5. Trade policy
6. Enforcement of existing and new laws and rules
7. Procurement
8. To use other areas of policy to enhance tax collection
9. Incentivisation and activation of private capital
10. As a “groundbreaker” where a small amount of government support can be leverage into much greater multiples of private capital
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