Tycoon James Dyson fears Britain is hampered by ‘short-sighted’ policies that discourage growth

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Tycoon James Dyson fears Britain’s economy is being hobbled by ‘short-sighted’ policies that discourage growth

  • Sir James Dyson said ‘dumb’ policies prevent economic growth
  • He criticized ‘stifling regulation’ and ‘greater interference in business’
  • It comes as the government has pledged to halve inflation by the end of the year

Last night Sir James Dyson warned that ‘short-sighted’ and ‘stupid’ policies are preventing the economy from growing.

The tycoon said Britain was stuck in a state of ‘Covid inertia’ amid high taxes and government regulation.

Mr Dyson, who is based in Singapore and has an estimated net worth of £23billion, said: “The government seems determined to move in the opposite direction with the introduction of stifling regulation, greater interference with business and thinking he can impose a tax on business tax in the belief that penalizing the private sector is a free victory at the ballot box.

The tycoon said Britain was stuck in a state of ‘Covid inertia’ amid high taxes and government regulation

Writing in the Daily Telegraph, Mr Dyson also called on Chancellor Jeremy Hunt to use the Spring Budget to ‘encourage private innovation and demonstrate ambition for growth’.

The intervention comes as the government pledges to halve inflation by the end of the year, as Mr Sunak and his Chancellor seek to balance the books and restore credibility in the Kingdom’s finances -United.

The Prime Minister has come under pressure from some backbench MPs over tax increases, following last fall’s declaration.