Saturday, 17 May 2008

The nasty decade?

For the time being at least, the nice decade is behind us,” said Bank of England governor Mervyn King this week, as he announced some of the gloomiest UK inflation forecasts in recent years. The “nice” decade – for non-inflationary continuous expansion – may be behind us, but the question is whether a nasty economic decade lies ahead.

So what can we do well rather they ........The government can do a lot. Rather than boast about its economic record, strong fundamentals 10 years stability blah blah blah they should make life easier for business, and reform the public sector to improve productivity, re balance away from financial services for a start.

Then some (Keynesian) suggestions. Start to address the energy shortfall of the next decade immediately. This will require a huge program of new nuclear power station construction and massive roll out of alternatives, such as wind and solar. This would require the training of a new generation of scientists and engineers and keep the civil engineering/construction industry alive. It would also revitalise the UK dare I say Scotland as a high-tech, precision engineering economy.

Every home in the UK be made as energy efficient as possible with additional microgeneration capabilities, e.g. PV and passive solar, loft insulation and boiler lagging, triple glazing etc. Benefits: will keep the construction industry alive along with all the builders, plumbers, electricians etc as well as help address point obviously this will also encourage small business.

and my final suggestion

Stop pissing about.

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