Don’t panic! Yet…

Just a very quick post to say, that I do want the pace of spending reductions to be slower, but more important is a growth strategy, and not just by making the labour market more flexible (traditional response).

As for the GDP figures released last week, I’ve seen many figures in industry and government stats, change very quickly. I don’t think we should panic, but we should be prepared to change path (obviously politically the Chancellor will never say that as it gives the opposition a field day).

As I mentioned in a recent job interview with an economist – there’s always choice, it’s how you’ve decided to set the parameters that define your choice.  He agreed, not sure whether I’ll get the job though!

One thought on “Don’t panic! Yet…

  1. Phil,
    First of all i hope and expect that you will get the job. Secondly I wonder whether there is not a bit of panicking going on in the Gov`t just now as well as some rather unhelpful ideology creeping in. O21% of jobs in the UK are actually in the public sector andto me this does not seem too many. It is certainly not unbalanced. i do not know what the figure is for Germany and France for example.If the Govt reduces the public sector but then has to buy in privately owned services how is this going to help the economy?

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