Personally, I fully endorse the article’s policy suggestions for a Plan B, namely:
It is not that difficult to sketch out an alternative economic approach. The government can borrow cheaply so it could give the green light to infrastructure projects, particularly small-scale projects such as schools and local transport initiatives, where work can begin quickly. It should tackle youth unemployment by scrapping national insurance contributions for all those under 25 and bring in lower NICs for the northern regions. Learning from the big retailers, there should be additional time-limited spending vouchers for those on benefits to stimulate consumer spending. Consideration should be given to a temporary cut in VAT, which would bring down inflation, and increase spending power. For the longer term, there should be a national investment bank.
What do you think?