Apparently that difficult problem of what we should do about the British economy has been cracked. All doubt resolved, we've now got a plan. To which our answer is great, how excellent!
What we need is “bulldozer money”: long-term investment in housing, infrastructure, energy, healthcare and transport. Investing in real assets creating real jobs, and delivering an economic multiplier effect over the long-term, where every £1 invested in infrastructure generates £3 of economic activity.
One quibble, healthcare spending is not investment, that's current spending. But it is good to have a plan, isn't it?
This £100bn could be used far more productively elsewhere. Instead, we should focus on the “G’s”. Green, clean, cheap energy from solar, wind and other renewables – technological advances in wind power, fusion, photovoltaic cells and batteries will drive costs relentlessly down. A Great Northern railway programme would ease travel and improve commerce from Liverpool to Manchester, Sheffield, Leeds and on to Newcastle. And Gatwick, where a new runway could be started by 2019.
Super. So, what we'd like to have happen therefore is to get some of those people who know how to evaluate potential investments involved. Do such projects actually have a positive net present value, are they actually going to make us richer? That's the sort of thing that investment managers do for us. Which is useful because the man with the plan is an investment manager:
Nigel Wilson is the chief executive of Legal & General
Which is just absolutely great. He's got the skills and the network and the staff to undertake the task of what to invest in. He's also got a considerable pot of money to do it with. And we can be very sure that he's only actually going to invest in things that will make money, will add value, rather then splurge it around for political reasons.
That is, we, as in we collectively, don't need to do anything at all. All of the resources and incentives to make us all richer are already aligned in this one figure. If he can't find plans that will make money then he won't do them, if he can he will.
So, Nigel, your plan, how excellent! Off you go then.