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By Paul Ormerod An important reason why there was zero growth in June and July is that households are saving bigger proportions of their incomes, says Paul Ormerod The Chancellor, Rachel Reeves, had made no secret of her desire to make economic growth her top policy objective. She reinforced the message this week in an interview with the Financial Times, using the mantra “invest, invest, invest!”. Perhaps unwittingly, this carries echoes of Karl Mark’s memorable phrase in Das Kapital: “Accumulate, accumulate. That is Moses and the prophets!”. Mark was virtually giving the status of a biblical …

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