If we could just say very well done here, no, vry well done indeed

The standard and long lasting critique of the British economy is that we don’t, collectively, invest enough. Even that amount we do invest is at least partially financed by foreigners - that’s why we have a capital account surplus and also a trade account deficit in the balance of payments - meaning that domestic savings must be lower than even the anaemic investment demand.

We also know that we gain less of anything we tax. Yes, of course, at least some government is necessary, therefore there will be taxation. But it is still true that the act of taxation itself means less of whatever is being taxed.

So, given the paucity of both savings and investment, the effects of taxation upon both savings and investment, what is the proposal for the economy?

Labour’s deputy leader has suggested that the party should raise taxes on savings and investments.

Err, yes, that’ll sort matters out, won’t it? Tax so as to have less of both those savings and investings that the country is already short of.

Very well done that politician there, vry well done indeed.