Published: 29th Nov 2011

The autumn statement has shone a light on the paucity of existing economic options left for the government and its inability to innovate.  It may be left to local economic stewardship to forge a new economic destiny. Orthodox economic thinking, either Keynesian, monetarist, right or left, are all imperfect within the current perfect economic storm, so it is no surprise that the government appears to be like a rabbit caught in the headlights of a speedy crisis. George Osborne and the government face a hellish beaming headlight of a deficit, which must come down.  The other headlight is dimming growth, which they must stimulate, so that higher tax receipts and falling welfare benefits reduce the deficit.  But to achieve growth they would need to borrow more, but that increases the deficit. To compound this impending road kill, is a dark future filled with unemployment, failing local economies and a fragile … (To read the full article, subscribe below)