Britain Is Booming?

The Telegraph reports that the Markit/CIPS UK Services Purchasing Managers' Index rose to 62.5 in October from 60.3 in September. This was the highest level since May 1997.

As I noted the other week, it is the service sector that is driving the growth.

Now if the government could only bring itself to simplify the tax system, and indeed lower taxes, we might be assured that this growth can be maintained!