Real economics

Liberal Democrat Business Secretary, Vince Cable, has been leading the development of the Government's industrial strategy which is aimed at placing the whole of government behind support for British business giving it the confidence to invest, hire staff & grow. Speaking recently Vince said that there are worryingly high disparities between economic performance and employment prospects in different parts of the UK. Even after the major crisis and contraction in London's banking sector, the south-east maintains a more buoyant economy than most other parts of the country. He said: "Sustainable private sector growth is not going to occur spontaneously but will need support through infrastructure and training.I do not believe in managed decline for regions that are underperforming”. He said rebalancing was not just about switching to exports and manufacturing, but was geographical as well insisting that English regions need a strong voice to attract investment and employment, suggesting a parallel at some level with the devolutions driving growth in London, Scotland and Wales.The success of Local Enterprise Partnerships (LEP) and the LibDem Manufacturing initiative are real economics. Not the fantasy land inhabited by UKIP.