An Obvious Economic Announcement...

Never one to point out the obvious at rather a late stage in proceedings, Prime Minister David Cameron took to the podium at the CBI conference to announce that the current economic climate and crisis in the Eurozone were having a “chilling effect” on the UK economy.

Now, this fact was probably widely re-acknowledged around about six months ago; the world having watched continued Greek financial woes and the growth of Italian instability. Add to the melting pot the downgrading of American credit and the shrinking of forecasts for growth and most people were under no illusions to the state of the economy.

However, we must certainly thank the Prime Minister for pointing out these obvious facts that are supposed to be being addressed firmly by his government: alas, apparently to no avail.

He blamed the current lack of growth on the continuous string of bad news about economy matters, but did not announce any ground breaking scheme himself. Rather, this task is dutifully left to burden George Osborne’s shoulders next week.

Whilst the PM is under a great deal of pressure to reverse the position of Britain amidst these financial troubles, surely highlighting the problems and not proffering any solution himself is but counter-productive. 

Although some may say truth is the best tactic, these facts were already wide-held public views: their reaffirmation by Cameron only serves to further down-hearten British workers, contractors and entrepreneurs and shake the foundations of faith in both commerce and the government.

Mr Cameron also told the conference: "Everyone agrees now that in the past Britain's economy had become lopsided: too dependent on debt, on consumption, on financial services.” Unfortunately, the continued upholding of a policy of cuts is doing nothing to reverse the trend, but rather stagnate the economy.

This concept that it takes money to make money and debt must preceed profit only just now appears to be clicking as the PM is set to detail housing schemes, but the projects are somewhat received only to mild appreciation: the economy cannot take much benefit from such a slow burning enterprise.

Perhaps, rather than continuing to be a staunch coat and continuing to plug policies that are not working, Cameron and his faithful Clegg should consider redressing their approach and apologising. It could be the making of a great economic boom in the long run. New tactics worked for Roosevelt. Was no one making notes? Did no one pay attention in history class?! Would his approach hurt the support of the Tory party too much and appear like socialism? Probably, and that why politics no longer involves the public right; it’s just a game of opposition policies…