Britain is gripped by inertia. This is simply because of the Government Spending Review which will be announced in October. Departmental Ministers are desperately trying to curry favour with Dave (aka Nick) and George by showing they are the deepest cutters. Labour is electing its new leader. I suspect that in time David Miliband will become a formidable opponent of the Conservative (ok Coalition) Government.
The issue of constitutional reform will tear the Lib-Dems apart especially now they are realising that the proposed cut in the number of MPs (from 650 to 600) will hit them rather badly. One report suggests it could halve their numbers of MPs.
For Enterprise Britain, nothing. The proposals for Local Enterprise Partnerships are likely to be hindered by the confusion over the amount of Government funding.
The junior stock markets are offering little, or nothing, by way of support as they grapple with ever increasing costs as a result of more and more regulation.
The banking industry never did care and now are using every wheeze they can to avoid the higher risks attached to supporting growing businesses.
There is good news. The underlying economic data is quite strong. Exports are improving and unemployment is not hitting the anticipated levels. With 10 year gilts yielding less than 3% the Government is funding our lower than expected debt levels more easily than thought even six months ago. Diesel is 115.9p locally.
Will George ease up on his debt cutting mission? Not a chance. It will be a long, hard winter.
During this time the only reflection of Enterprise Britain will be talk and more talk..but no action.
However Enterprise is not dead. The book publishers are enjoying the reflections of ex-ministers.
I have just finished reading ‘The Third Man’ in which Peter Mandelson provides a fascinating history of the Labour years and in particular the Blair/Brown conflict. Despite its compelling honesty I am not sure that it is possible to understand Mandelson any more than before reading his book. A strange loner.
I was encouraged to buy his book because W H Smith offered £5 off. Yes, I always fall for it and no more than yesterday when, in Milton Keynes shopping centre, I bought their last copy of ‘The Journey’, at half price.
It is going to be a journey…all emotional, 700 pages. I have read the first 20 pages but ran out of Kleenex tissues.
It is the start of Autumn and the weather is deteriorating. The nights are closing in.
Heads down..it can only get worse.