Rodney Willett sent me a tweet and invited my views on the following article. His article is well worth a read:
Yesterday, I published by response.
I received a detailed response from John Gelmini which provides a third perspective, so I am re-blogging it below:
Rodney Willett has a point but we do need a reasonable and planned injection of credit from the banks because initiatives like the Bank of Essex (a joint venture with Santander and Essex County Council), Foundation East based in Suffolk and the emerging “Bank of Cambridge” are not enough to replace bank lending for SMEs and not enough to fund new startups by school leavers who will otherwise never work because of complete lack of growth.
Globalisation was originally a mental construct of the Bilderberg Group and has resulted in a net loss of jobs in the West mirrored by a corresponding increase in the number of jobs in China, India and the rest of the Far East.
Eventually this will lead to a loss of military power as we will not be able to afford it any longer.
This is evidenced by the Navy risk register, which now shows that one nuclear submarine which is part of our deterrent, will have to remain in dock because of a lack of submariners and the fact that we now share aircraft carriers with the French and cannot protect our own coastline for lack of ability to afford a coastal protection vessel.
As an island, we need to able to protect our sea lanes and trading routes, something which Henry VIIIth, one of England’s great kings recognised hundreds of years ago when he laid the foundations for us to become a super power.
Twice we have nearly been starved to death in two world wars, yet those lessons have already been lost on our vacuous and extremely lazy Prime Minister, who is content to let more expensive food imports into the country, our young people to languish on the dole and our businesses to be starved of credit.
We can reduce our deficit as has been suggested in the latest post above and by reducing the number of public bodies involved in administering public services and by strictly controlling staff numbers.
Outsourcing of non-core functions is a given but we should where possible keep those jobs here and not offshore them so as to keep the tax revenues here where they belong.
We must also look at our population size and composition.
There are 35 million, too many people for our physical and financial resources (current population 63 million officially plus 4.5 million illegal immigrants and 250,000 new migrants a year) and too many, very costly, old people, often living in subsidized council houses at below market rents and costing the NHS and local authority budgets dearly.
Our public services would cost a lot less if there were fewer people so measures like a new Assisted Migration Programme to reduce population numbers need to be pursued.
We have 16.5 million people who are not working and not producing out of a potential workforce of 32 million. We need the economy to expand so that the dole bill is reduced and the proportion of those not engaged in tax and wealth generative employment falls to less than 20% of all people in the workforce.
Similarly, we need to take action to improve our abysmal productivity(60% in the private sector and 40% in the public sector) which is 15th in the world and our poor value per taxpayer pound (17th).
To improve our national top line we need:
–An export programme of substantial proportions,faster writing down allowances
–Language skills training
–A competitive tax system
—Inward investment from the wealthy from overseas
–Money from Sovereign Wealth Funds for infrastructure solicited by Boris Johnson who has not insulted any foreign leaders of countries like China in the way David Cameron has and Margaret Thatcher never did in 18 years of office.
–A real effort to recover money stolen from taxpayers by the rich and powerful.