Friday, 13 August 2010

Happy 100 days

Good news if Iain Martin is to be believed - a tapered incentive back into work for millions of welfare dependents. No doubt the Sunday's will be full of it. All we need now is a realistic and effective welfare to work program - just like Cameron promised at last year's conference. Remember that? Seems like an age now...

It coincides with the first 100 days of the coalition government with articles all over the media. A more radical opening is hard to imagine. And there's plenty more promised - a patient-led NHS (albeit through GP's), decentralisation of local government, a comprehensive defence review and voting reform of both houses, to mention just a few.
But amongst such progress, I still have doubts over a flatlining economy - and bank lending, not government spending, remains at the heart of my doubts.

Instead of whining over bonuses, Vince Cable should be introducing new legislation offering 'narrow' banking licences to new entrants to the retail banking market. And reforming a swathe of (largely EU inspired) business regulations and centralised bureaucracy to free up and stimulate new business generation.