Jonathan Hinder

I definitely think that the House needs to come back to plan 2 loans. That will become a bigger and bigger issue. So many of our challenges stem from a lack of quality work in productive industries. We do not talk about the link enough, but high streets are crippled by a lack of good jobs that provide a decent income and give people money in their pockets to spend in their area. Young people are stuck at home, unable to get a place of their own and start a family, and we see the selling-off of British assets to fund a current account deficit. There is something even more fundamental at play when we talk about reindustrialisation. Sometimes in these economic policy debates we lose a sense of what really matters in life. Why is it that so often those jobs that appear to be the most socially useless are paid the most and those that contribute something so important to our society are often paid the least? If our economy is driving those perverse incentives that push bright young people into careers trading securities—some people call them “BS jobs”—we had better change those incentives, had we not? We need an economic framework that, instead of incentivising rent seeking, incentivises productive, meaningful work, providing people with not just a sense of satisfaction, pride and a good living but something useful to society—imagine that? I know that this is not easy, but our economy cannot go on consuming too much and producing too little. I urge the Chancellor and his Ministers to ensure that reindustrialisation, which has struck such a chord with the British people, is turned into a fully-fledged plan for national reconstruction.