Management Blog

Is the Recession Over?

The National Institute of Economic and Social Research, a leading economic think-tank, has suggested that UK GDP bottomed out in March and started to rise again in April and May, for the first time in a year. The publication Management Today explains if it’s right, that would mean a return to growth even earlier than Alistair Darling predicted – a forecast, you may recall, that was greeted with derision at the time by most economists. This tallies with some of the other positive numbers that have started to emerge from the manufacturing sector and the property market this week. But is this really a recovery, or just a brief rally before another slump?

 

The NIESR suggested a couple of months ago that output had stopped falling, and according to its latest figures, the ‘trough of the depression’ came in March. The economy then grew 0.2% in April, apparently, and another 0.1% in May. With news this week that manufacturing and industrial output is also starting to creep up again, and the Council of Mortgage Lenders adding to the green shoots bonanza this morning by reporting that the number of new mortgages jumped by 16% in April (albeit to historically low levels), we’re seeing more and more indications that at the very least, the worst of the recession may be behind us.

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New Government Department for Business, Innovation & Skills

The Government has today created a new Department for Business, Innovation and Skills whose key role will be to build Britain's capabilities to compete in the global economy and shape skills policy. The Department will be created by merging BERR and DIUS. 

 The new single department is said to 'combine BERR's strengths in shaping the enterprise environment, analysing the strengths and needs of the various parts of British industry, building strategies for industrial strength and expertise in better regulation with DIUS's expertise in maintaining world class universities, expanding access to higher education, investing in the UK's science base and shaping skills policy and innovation through bodies such as the Technology Strategy Board. It also puts the UK's Further Education system and universities closer to the heart of governm ent thinking about building now for the upturn.'

The new department is 'the institutional realisation of the approach to promoting UK competitiveness and productivity as set out in the New Industries, New Jobs paper of April 2009, produced jointly by BERR and DIUS.'

The new department will:

• Advocate the needs of business across government, especially of UK small businesses

• Promote an enterprise environment that is good for business and good for consumers;

• Design tailored policies for sectors of the UK economy that represent key future strengths and where government policy can add to the dynamics of the market;

• Assess the changing skills needs of the UK economy, especially the intermediate and high skills vital in a global economy and design policies to meets them through public and privately funded life long training;

• Invest in the development of a higher education system committed to widening participation, equipping people with the skills and knowledge to compete in a global economy and securing and enhancing Britain's existing world class research base;

• Continue to invest in the UK's world class science base and develop strategies for commercialising more of that science;

• Continue to invest in skills through the Further Education system to help people through the downturn and to prepare Britain for the future;

• Deliver on the government's ambitious objectives to expand the number of apprenticeships;

• Encourage innovation in the UK;

• Defend a sound regulatory environment that encourages enterprise and skills;

• Collaborate with the RDAs in building economic growth in the English regions;

• Work with the EU in shaping European regulation and European policies that affect the openness of the single market and the competitiveness of European and British companies

• Continue to work to expand UK exports and encourage inward investment to the UK.

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Our MP's Can Learn from Oliver Cromwell

It is interesting that figures were released last week the fact that the number of students choosing to take History as a subject at GCSE and 'A' level are falling. However there are always important lessons to be learnt from history even in the 21st century. Here's an excellent example with Olver Cromwell's speech to Parliament just before it's dissolution in 1653. How prophetic the words are and relevant to the expenses scandal in which our MP's are now embroiled .

Oliver Cromwell's Speech on the Dissolution of the Long Parliament Given to the House of Commons 20 April 1653

"It is high time for me to put an end to your sitting in this place, which you have dishonoured by your contempt of all virtue, and defiled by your practice of very vice; ye are a factious crew, and enemies to all good government;

Ye are a pack of mercenary wretches, and would like Esau sell your country for a mess of pottage, and like Judas betray your God for a few pieces of money.

Is there a single virtue now remaining amongst you? Is there one vice you do not possess?

Ye have no more religion than my horse; Gold is your God; which of you have not barter'd your conscience for bribes?

Is there a man amongst you that has the least care for the good of the Commonwealth?

Ye sordid prostitutes have you not defil'd this sacred place, and turn'd the Lord's temple into a den of Thieves, by your immoral principles and wicked practices?

Ye are grown intolerably odious to the whole nation;

You Were deputed here by the people to get grievances redress'd, are yourselves gone!

So! Take away that shining bauble there, and lock up the doors. In the name of God, go!"

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