Magazine
Latest Issue

Why the government spent too little

The full transcript of our interview with the Director General of the Confederation of British Industry

By Jay Elwes  

Read the key highlights from our interview here

Jay Elwes: After the 2008 crisis, a debate sprung up about the need for Britain’s economy to rebalance, away from consumption and credit, and more towards manufacturing and exports. That rebalancing didn’t seem to happen.

John Cridland, Director of CBI: Well in the famous winter of 2008/9, I remember a business dinner table conversation and the question at that point was: “which was the blip—the crisis caused by Lehman Brothers’ collapse or the ten years that preceded it?” which Mervyn King described as the “nice decade”—non inflationary and continually expanding. Although the…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to letters@prospect-magazine.co.uk

More From Prospect