Thursday 23 May 2013

Star Trek and the wrong sort of growth

I've been reflecting on how the news that the British economy grew by 0.3% in the first quarter of the year will be received.

Here's a prediction.  The people who criticised George Osborne for failing to get any growth won't shut up.  Neither will the people who said there would never be any growth with his policies.  They will just start saying something else.

Yes, the Chancellor will have succeeded in stimulating growth, but of the wrong sort.  To misquote the Starship Enterprise's surgeon, Bones McCoy, "it's growth Jim, but not as we know it".