Nick Clegg has no way to rebalance economy
His calls for Britain to emerge from the recession as a fairer, greener country, for a fairer tax system and to sort out banking chime with the TUC’s concerns.
He is also right to say that the UK’s economy has become unbalanced in favour of financial services. But he then goes on to call for the abolition of the one government department that has the tools – and what expertise still exists after so many years of neo-liberalism – to intervene in the economy in ways that will rebalance it.
That is not to call for a return to 70s-style picking winners, but it is impossible to see how we can rebalance the economy without a government department charged with carrying that through.