Archive for May, 2012

It’s not a question of confidence, it’s time

Tuesday, May 15th, 2012

I caught part of an interview on the news yesterday with the Director-General of the CBI, John Cridland. As is usual on days when it appears that the economy is in terminal meltdown, someone like him was wheeled on to remind the general public that the world is not going to end and we will all be able to eat tomorrow. You would expect the Prime Minister, or the Chancellor to do that, but the former is trying desperately hard to be a hip global political player, and the latter is someone you wouldn’t trust with a piggy bank.

John Cridland’s message was that the UK economy should neither be relying on other economies to pull ourselves out of recession, nor be waiting for someone else to do something. The word he kept repeating was “confidence” – individual businesses need to inject confidence into their markets and everything will be alright.

(more…)