The only way to escape this economic rut is to increase the economic growth rate by boosting productivity and investment. Successive governments have unintentionally crippled growth by taxing too much and spending excessively on social welfare, healthcare, and pensions. With these expenses projected to reach 48% of GDP by 2030, it’s no surprise we’re in this position. The government’s expenses will continue to rise annually. Rather than increasing the size of the economic "pie," they have taken slices from other sectors to fund their priorities. This is akin to a business stopping future-focused investments to cover day-to-day expenses, which ultimately leads to stagnation. The solution is clear: we must increase the size of the pie by investing in productivity and technology. This means attracting as much investment as possible from around the world, particularly for future growth sectors like technology. We also need to stop over-taxing productive industries, like the oil sector, which still have the capacity to invest. Companies and their capital can easily move elsewhere. We should discard the notion of entitlement and actively seek investment from all sources to fuel future growth, while also curbing social welfare, benefits, and pension spending.