Ann Pettifor: “Industry could offer the UK shelter in an economic storm”

Ann Pettifor has a piece up at the Guardian’s Comment is Free.

She argues that businesses are (rightly) worried about consumer confidence and the state of the economy, even before a number of a number of tax rises and benefit cuts come into force on April 1st. However, government policy seems to be going the wrong way. Instead

What the economy needs, as the PM rightly argues, is “rebalancing” – away from financial services and towards those industries that will create the jobs needed to tackle immense, historically unprecedented challenges, like the growing threat of energy, food and climate insecurity. Industries will need government help to make the transition to an economy less dependent on factors such as Middle Eastern oil, Russian wheat and foreign gas supplies. To make that transition, both the private and public sectors will need government backing to create, not destroy, the jobs and economic activity vital to stability and national security.

(See also Ann’s blog on the global financial crisis at Debtonation.)


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