“..A substantive reversal of capital spending cuts is being examined by coalition ministers in the run up to the chancellor’s autumn statement -
- as part of an effort to inject growth into the economy before the election.
The business secretary Vince Cable, in a highly nuanced political speech to the Liberal Democrat conference, indicated the need for urgent action.
“Right now we are fighting recession,” he said.
“The need is for a demand stimulus.
And that does not just mean pumping more money into the banks.
“The great Liberal, Keynes, had exactly the right analysis of the problem we now have – not enough spending power in the economy.”
Cable pointed to previously announced plans for government to provide guarantees so housing associations could build in large numbers…”
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