Weighing the past, to assess the future.

That the leading and most innovative industries may not be good indicators as to the performance of the whole or the rest of the economy, seems obvious with a moment’s thought. [...] And the mini-Budget of 2022, made the schoolboy of error or targeting a rate of growth in GDP that it was simply not possible to achieve and tried to inject 2-3% of demand into an inflationary economy. [...] What we do note from history is that UK has had relatively poor productivity performance since the second world war expect for the 1980s and the period around the turn of the century. [...] Look at the Piece Hall in Halifax, the existence of stock exchanges and country banks around the nation to realise that the first industrial nation had spatial element to its growth. [...] In the Money Minders, I looked at the causes of the early 1920s recession and the relatively mild one the UK suffered after the Wall Street crash.