London (Photo credit: @Doug88888)

This Telegraph blog by Deputy Editor, Benedict Brogan, is a MUST READ. Check it out!

London’s astonishing boom can lift the whole of Britain – Telegraph Blogs.

Personally, whilst I was delighted to see this enthusiastic upbeat article, I was uncomfortable with the strength of the underlying argument. In my view, the UK, like the rest of Europe, has suffered from policies of excessive austerity, yet too many journalists are trying to white-wash the economic and social evidence and damage.

Let me turn this to several open questions:

1. Apart from property price inflation, where is the evidence that London is booming?
2. If London is booming, where is the evidence of increased investment in non-property assets?
3. How is the apparent London boom being applied to increase exports and the skill-base of the workforce?

Any thoughts?

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