Very, very interesting piece by Seumas Milne on spending in a recession:
I agree (but then i would) that this is a cracking, once in a lifetime opportunity to take the country on a good old lefty Government spending spree. I agree that you can't cut your way out of a recession, but you can spend your way out.
some good investments in housing, technology and job creation would do the world of good. I'm not in favour of the taxes on jobs going up at the moment, but taxes on income and wealth are all good. this is also a chance to put into place a more redistributive tax system. ideally with a move from indirect to direct taxation.
it's all about the investment. In tough times companies that invest do MUCH better than companies that cut everything back, so how business people who know this fact can complain about government spending in times like this leaves me feeling a bit sad actually. But they tend to be Tories, so what can ya do? Pity and fear them i suppose