Lessons from the past (TT JulAug09 p14-15)

Labour had avoided the boom/bust economic cycle over much of the last 12 years, but credit-fuelled growth ended this prolonged period of stability. Dennis Turner sees a long slow climb back to prosperity in 2010, with either public spending cuts or higher taxes inevitable, and a boost to manufacturing vital. As the election looms, the main parties must set out their stalls.