It is far cheaper and more effective to introduce resilience measures during construction, rather than relying on expensive retro-fitting once the damage has been done.
The key problem is stagnation. Margaret Thatcher’s reforms promoted mobility and opportunity. Now we are an economy which doesn’t change enough.
The industry has committed to direct £100 billion into infrastructure such as energy generation, power networks, and housing. Politicians from all sides should want to see these measures become law.
Essentially, the Solvency 2 regulations make it difficult for our pensions and insurance firms to invest in long-term, secure, fixed assets in the UK.
The cat of Tory tax rises has fewer than nine lives. Especially if these breach manifesto pledges and are generationally unfair.
The theoretical aim of policy then should be bridging over what is hopefully a short pause in activity – eliminating near-term distress for households and businesses.