Bad news on GDP
The economic figures released today were disappointing with a 0.3% drop in GDP quarter to quarter.
There are all manner of reasons why the third and fourth quarters of 2012 were exceptional but the fact remains that we need the British economy to get back on a path to solid growth and it is taking far too long to do so.
This is absolutely not a reason to abandon the government's efforts to cut the defecit and get on the path to reducing the national debt - the more the debt goes up the more crippling the burden of interest payments.
But it does mean that MPs and Councillors of all parties need to think very hard about anything they can do to help legitimate British businesses to invest and grow, to support exports, and not to impose regulatory burdens or stand in the way of development unless there are excellent reasons.