Moving from the financial crisis to sustainable growth

Moving from the financial crisis to sustainable growth
Document type
Cable, Vince
Date of publication
15 September 2011
Trends: economic, social and technology trends affecting business
Business and management
Material type

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In this paper there are, nonetheless, five broad initiatives which can be taken to restore business and consumer confidence that are explored in greater detail in relation to UK economic policy.

  • Unconventional monetary policy.
  •  Bank lending. 
  • Tax Cuts. 
  • Allowance of maximum fiscal flexibility. 
  • Creating greater market certainty to support business investment.

All of these policies need to be considered in the light of international cooperation. With financial markets in a febrile state, coordination to sustain demand is extremely important. That is why the government has been actively engaging with our international partners to ensure that the global response is properly coordinated.
This paper develops the reasoning behind these suggestions. It is part of a process initiated by Nick Clegg to develop
with colleagues a considered response to the challenge for UK economic policy by a deteriorating growth outlook.
The document is in the nature of a ‘green paper’ inviting comments from all those concerned to promote sustainable
growth. And it is necessarily speculative. At the time of writing, economic conditions are fast changing, as would be
the appropriate policy response.

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