The Thin End

Some thoughts on the Chancellor's measures for recovery. Ray Noble, academic and writer The Chancellor's measures are a big package, but likely to be not big enough. There is much to be welcomed, even if it is a commitment with some half-measures. The government should not allow political philosophy to get in the way of doing what is required. Now more than ever, we need a unity of purpose across the political divide. That is never easy. We did it once before in what became known as the 'post-war consensus' on the need for spending on social infrastructure. It helped us recover from the ravages and debt of war. Far from increasing national debt, the social investment-led recovery helped stimulate demand and the national debt tumbled. All the main parties, Tory, Labour and Liberal put employment at the heart of the strategy. Merely urging people to spend is not the answer. In the long term, we need an investment-led recovery. Investment creates jobs, increases earnings a...