Taxing Growth

In this episode George & Gerald chatted to macro economist Doug McWilliams about the perennial topic of economic growth.Growth doesn’t arrive by accident. They dig into a concrete plan to raise livingstandards in the UK by combining a simpler tax system, targeted deregulation, and policies that bring more people back into productive work, drawing on insights from a new book Prosperity Through Growth.It’s core argument is simple: in a world where talent and capital move easily, policy mistakes get punished quickly, and clarity becomes a competitive edge.Doug explained why a staged path to a 20% flat tax alongside the abolition of national insurance could lift output over time, and why regulation—not just its level but its instability—has become a prime drag on investment. From planning rules that stall housing to compliance costs that turn basic banking into a slog, we explore the hidden frictions that sap productivity.At the same time, we examine demographic headwinds—ageing, low birth rates, and falling participation—and the mixed lessons from Japan on how to sustain GDP per capita through smarter labour policies.However there are some bright spots, the UK’s flat white economy—tech and digital services—is booming, helped by freedom from restrictive EU digital acts. We ask what else could grow if given simpler, stable rules and why drifting back into heavier frameworks could undo our brightest gains.Finally to perhaps lighten the mood, rather than the usual book recommendations, the three of them discuss their favourite cars.Doug's New book - Prosperity Through Growth

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