Showing posts with label economy. Show all posts
Showing posts with label economy. Show all posts

Sunday, 4 January 2009

Shivering into a new world.

Well we made it, safely into the New Year I mean. This time round Britain had to wait a little longer for the champagne corks to pop as an extra second was added to the old year in response to a set of calculations too abstruse to concern us here.

The method by which this was done though should appeal to anyone with a fondness for British ingenuity and eccentricity, the simply added a few more old style pennies to the pendulum of Big Ben. High tech; who needs it?

For those hardy souls waiting in Trafalgar Square or the centre of any other major city to see in 2009 it must have been a bitterly cold evening and, for the even hardier souls filmed by news programmes with little else to cover celebrating New Year’s Day by swimming in the frigid waters of the Serpentine or the sea off Brighton. I salute their bravery in the face of the worst the weather can throw at them whilst also questioning their sanity.

This looks like being a boom time for such lunatics as we enter the coldest January since records began, a news story that managed to drive both the economic crisis and the latest war in the Middle East off the front pages last week, giving, for anyone seeking it, further evidence of the famous British obsession with the weather. After all in few other countries could a television weather forecaster have a higher public profile than a member of the cabinet.

Being obsessed with the weather doesn’t, of course, mean that the British are prepared for it, which would involve abandoning our cherished pose of cheerful amateurism in favour of forward planning. Over the next couple of weeks the newspapers, mourning perhaps the absence of their favourite targets for scorn, politicians of all stripes, will be filled with lurid articles and incredulous editorials aimed at council managers from Land’s End to John O’ Groats who have been so unwise as to get caught out by the fact that it often turns cold during the winter.

This is, of course, going to be a cold new year for altogether more serious reasons, as demonstrated by two stark statistics picked up by every newspaper in the land, experts predict that by the end of the year some 600,000 more people will have lost their jobs and that one in ten shops on the high street will be standing empty.

This sets up a particularly queasy contrast with an image that has dominated the television news reports since Christmas, that of bargain hunters storming the January sales, most of which began in December this year, like an army of gatecrashers storming the last big party before the bad times start to roll.

The Chinese, I am told, have a favourite curse, it runs as follows, may you live in interesting times, for interesting read uncertain and alarming; ours then are certainly interesting times.

Lest we become too gloomy about the year before it has even begun we should, perhaps, draw a little comfort from the performance of Britain’s Olympians which lit up last autumn. They came through with the goods again as a discontented winter puts its head down and makes a dash for a disillusioned spring making the New Year’s Honours list into a triumphant pageant instead of the usual celebration of dutiful mediocrity.

One of their number the gold medal winning cyclist Chris, now Sir Chris, Hoy gave to posterity a quote that expressed both his modesty and a proper disdain for the hubris that is in part behind the troubles currently besetting the world.

He said: ‘when Chris Hoy starts to talk about Chris Hoy in the third person, then Chris Hoy will have disappeared up his own backside.’

Arise with honour Sir Chris Hoy, the newest and perhaps the shrewdest of all the knights in the service of this wintry kingdom.

Sunday, 21 December 2008

Christmas on the Credit Crunch.

The festive season is upon us again, and, if the newspaper editorials are to be believed, it is going to be a rather grim affair this year. An impression only reinforced by the ‘helpful’, in their view of things, advice on how to celebrate the season on a budget being dished out by the BBC on what feels like an hourly basis.

As the old song put it, there may be trouble ahead, quite serious trouble since unemployment levels and government borrowing have both been on the rise since the autumn.

Anyone wandering the streets of an average British city would be hard pressed though to find any specific signs of impending doom. There are no fewer houses decorated with lights to look like cut price versions of Las Vegas than there were last year, although now homeowners are more likely to switch the lights off when they go to bed rather than leave them burning all night long. Whether that is a consequence of higher electricity prices or year round lecturing on environmental issues changing public behaviour is anybody’s guess.

In the high street the shops are full although their windows are uniformly papered over with large SALE signs this isn’t, perhaps, such a gloomy time at which to be a consumer. For the first time in recorded history the great British customer is being treated like something other than a nuisance by retailers who until recently would have referred to him or her as ‘footfall’, mostly because they are desperate to have the customer’s feet fall through the door of their shop rather than their competitors.

There is a definite feeling that change is imminent, Christmas and with it everyday life from this year onwards may well be less about aggressively aspirational consumption and more about valuing the things you already have, and that may not be such a bad thing.

For all its manifest faults Britain is still a remarkable country. It is blessed with countryside of unparalleled beauty, which since the exchange rate is pricing more and more Britons out of foreign travel we might be persuaded to visit and, more importantly, value far more than we have previously. The British people have a residual stoicism about the slings and arrows thrown at them by outrageous fortune that has been masked, but not entirely erased, by the ‘where there’s blame there’s a claim’ culture that has been to the fore in recent years, as times get tougher expect it to make a comeback.

We have one other and precious thing for which we should be thankful, Britain is and will always, I hope remain, a free country. Journalists and angry men in saloon bars can call the government a pack of fools without fearing arrest, while the jury remains out as to whether Gordon Brown can revive the economy in the same way he revived his political fortunes over the past few months, but if he should prove not to be up to the job the public will be at liberty to vote him out of office, something people in far too many other nations can only dream about doing to their leaders.

The good news, and boy do we need some of that just at the moment, is that bad times like good ones do not last forever. Whatever the coming year may have to offer in the way of shocks and scares one thing remains certain, for all that the credit crunch has knocked it down somewhat Britain is anything but out of the game.