You’d think that the more protracted the after-effects of the 2008 financial crisis become the more willing we would be to ask searching questions about its root causes. Sadly, this seems not to be so. In much public discourse, there is an often unspoken assumption that if only we could sort out the banks, fix the Euro and correct global trading imbalances we could all happily return to the days of uninterrupted growth.
It’s therefore welcome to find – in the shape of Will Morris, current chairman of the CBI’s taxation policy committee and Global Director of Tax Policy at GE – one senior business figure who acknowledges that things have gone wrong at a pretty fundamental level. And it’s even more welcome that he’s come up with a solution that is both simple and elegant. Sadly, his paper Not Just How but Why – which was published by Reform earlier this summer – has received precious little attention, which rather underlines my point.