Road map to a better Britain: 10 things the UK economy needs

In the third and final instalment of his new book, ‘Beyond Brexit: Liberal Politics for the Age of Identity’, Vince Cable shares his plan for a more prosperous, socially just and environmentally sustainable society

The UK faces challenges that will need concerted action to address (Getty)

In these essays I have argued that Britain has a malfunctioning economy and a badly divided society. These are both a cause and, increasingly, a consequence of Brexit. The financial crisis in 2008 caused great and lasting damage, even if the damage was minimised in the closing stages of the last Labour (Brown) government and then by the coalition government. There remain many underlying weaknesses: an over-dependence on the financial sector, low savings and investment, poor performance in innovation and training, a totally dysfunctional housing market and a business culture dominated by short-term thinking. These problems are now compounded by Brexit uncertainty, which in turn is feeding a poisonous and divisive politics.

In a world of populist politics, there is a search for simple solutions to complex problems. We need to build on strong, stable, operationally independent structures overseeing economic policy, which rely on evidence and expertise to counter the snake-oil salesmen who promise self-financing tax cuts and magically financed expenditure. As liberals and democrats we must not succumb to fear-based politics but instead offer a route to a better future.

Here I summarise my proposals in a 10-point Roadmap to a Better Britain – to build a more prosperous, socially just and environmentally sustainable society.