‘We’ve got to get the economy moving’ urged David Cameron ad nauseam during the election campaign. But beyond his condemnation of the ‘jobs tax’ and his desire to shrink the size and the role of the state, the detail was nowhere to be seen. He claimed then that what government spent or did was not the same thing as the economy – visibly incredulous as Gordon Brown warned about endangering the recovery by cutting expenditure too quickly.
A few weeks into the coalition government and the headlines are still about cuts, because in Cameron’s words ‘growth won’t be enough’. That may be because he has yet to give it any serious thought, or it may be because they just prefer to talk about the deficit. But there’s a third possibility: it may be because the Tories and Lib Dems don’t want to admit that they have retained Labour’s new industrial policy.
Key to this was the formation of the Department for Business, Innovation and Skills and ‘NINJA’ – the ‘New Industries, New Jobs’ white paper jointly written and conceived by Lord Mandelson and John Denham. Which document was published in Budget week exactly two years ago, providing a narrative for a more optimistic economic future amidst the fast developing recession in 2008.
