Wealth Creation v Spending Wealth

A general comment - we all, individuals, politicians and public servants, must get our heads around the fact that we need to maximise the creation of wealth and minimise spending that wealth in areas that don't add to the creation of further wealth. A better society relies on this simple reality.

Of course we have to invest in health and health care and in supporting people past retiring age.

However, I'd suggest that every Minister and every Department Head should be required to ask "how does our Departmental spending on this and on that public service actually add to the creation of the wealth of the Island?"

Lots of areas of public spending do - relevant modern education is an outstanding example - but does everything add to improving the economy, creating jobs, getting more money circulating, growing the direct and indirect tax base ....?

 

Why the contribution is important

We can look to cut £25 million here or there but frankly that is 'peanuts' if the money that is left is not being adding to improving the economy.

by dpfellows on April 15, 2017 at 11:46AM

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