Andrew Sentence is a former member of the Bank of England Monetary Policy Committee, the body responsible for setting UK interest rates. He is now Senior Economic Adviser at PwC and his latest book Rediscovering Growth, is part of the Perspectives series.
He spoke to the Prospector on a range of economic subjects, ranging from domestic concerns to macroeconomic policy. The interview will be published here in full over the coming days
Jay Elwes: What do you think of Labour’s plan to introduce a 50p rate of income tax?
Andrew Sentance: If it had been more effective at raising money, when it was introduced for a few years after the financial crisis, I think there might be a stronger argument. It seems for a variety of reasons that it wasn’t very effective at raising money. The worry I would have is that it creates the impression that the UK is not an attractive place for business activity and for various forms of high value-added business which generate high incomes.