1 Jul 2016
Post-referendum, now is the time to rebuild our economy
There is $10 trillion of global money earning negative returns, waiting for a more productive home.
We have under-invested in entrepreneurs because our venture capital industry is sub-scale, and UK businesses have underinvested in new technology to boost productivity. As a consequence there has been minimal growth in real wages in the UK (and US) for 20 years.
This massive misallocation of resources presents a huge opportunity. We need our political, business and banking leaders to join these dots together. Much of the City appears to be going through the classic stages of grief post-referendum: denial, anger, bargaining, depression, and eventually there will have to be acceptance.