No metaphors, just an image tonight of the sun setting over the House of Commons, Westminster, as Gordon Brown resigns and David Cameron is announced as Prime Minister.
The Economist election briefing on UK business prospects
Manufacturing as a share of GDP currently stands at 12%. In its election briefing The Economist [disclosure: Speed client] says that which ever party forms the next election we’re not going to see a return to the manufacturing height of the mid-80s when it accounted for almost 24% of GDP.
In its election briefing supplement The Economist outlines the four areas that the new government will need to address to kick start business growth.
- incentives – in the form of grants, co-investment or subsidies
- taxation – which can be skewed to favour investment
- education – “in favour of science, technology and manufacturing skills”
- regulation – to reduce red tape
The Economist says that the new government will need to succeed where the current administration has failed and convince the banks to start lending to business. “Business investment fell by 19% last year,” says The Economist.
The Economist election briefing
Prospective parliamentary candidates would do well to pick up a copy of The Economist [disclosure: Speed client] this weekend. It contains a supplement called Britain 2010. It’s a briefing document on the key issues of the forthcoming election and provides an excellent summary of the challenges that face the country for voters and any would be Member of Parliament.
“For a decade and a half Britain enjoyed solid growth. The City of London was the world’s biggest financial centre. Jobs grew on trees. Heavy spending on public services pulled up [quality of life] a fair bit. Most Britons grew tolerant of diversity”.
The ensuing narrative of financial decline and slow recovery since 2008 is oft repeated. We are where we are. The Economist identifies three key issues facing the country’s politicians post-election.
1. Financial insecurity: the budget deficit is huge, taxes are increasing and cut backs are inevitable. People are worried about their economic future
2. Social cohesion and behaviour: immigration combined with old issues such as binge-drinking, rudeness and dysfunctional families are raising anxiety
3. Foreign policy and defence: the cost in money and lives of the war in Iraq is forcing a reappraisal of Britain’s position in the world
Over 20 pages The Economist scrutinises the leaders, the economy, public finances, banking, business poverty and inequality, immigration and society, law and order, foreign policy, education, healthcare and energy.
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Media camp rolls into Westminster
I walked home from the office tonight via Westminster. The media has set up camp on College Green opposite the Houses of Parliament, in readiness for the election campaign. Whatever your view of the health of the UK media, it will undoubtedly play a dominate role in the forthcoming election.
