Near-universal call for industrial recovery blocked by 3 party austerity obsession

Green IndustryA YouGov poll this week says 85% want the next government to promote a stronger UK manufacturing base, with 62% believing it will give the country more economic security. They’re absolutely right of course, and that is the centrepiece of my book The State We Need: Keys to the Renaissance of Britain. But it isn’t going to happen unless there is a profound sea-change in the conventional wisdom of the 3 main political parties.

As long as economic policy is driven by austerity-first, there will almost certainly continue to be desperately low levels of investment, little or no growth or rise in output per head, no increase in living standards, all accompanies by rising national and government debt, increasing unemployment and relentless relative if not actually absolute decline. Continue reading

Lloyds-TSB and RBS could be the basis of a National Investment Bank

The economy is stagnating and is clearly in deep trouble.

The latest figures show the UK economy has grown by just 0.2% in the nine months since George Osborne announced his Comprehensive Spending Review that set out a huge package of cuts. There is turbulence on the stock markets in part, at least, because of fears about growth prospects and a collapse in confidence in the capacity of decision makers to resolve the crisis. Continue reading