Wednesday, 1 July 2009

1980's Crude Britannia - 2010's Britain ?

If you haven't watched Crude Britannia yet then I highly recommend it.

Crude Britannia is a 3 part series currently showing on BBC 4 (TV) and available on i-Playerhere.

Its essentially the story of North Sea Oil but it also has an interesting political angle.

It explains, in large part, how the last Conservative government escaped from the devastated economy of the 1970's - following years of failed socialist experiments and battles with unions.

The discovery of North Sea Oil (and Gas) was a minor miracle. Without the tax revenues it generated, I wonder if we would escaped from the economic collapse of the 1970s - Labour's 'pound in your pocket' devaluation and near surrender to the IMF.

Question is - how are we going to do it again?

Now we have a National debt that dwarfs the debt created by WW2 (£20 Billion overspend last month alone!) and a bloated public-sector that can only be cut-down by generating even greater unemployment how are we going to escape from the impending disaster?

Unless anyone comes up with a miracle energy solution (at least BP are in business in Iraq I guess), it's going to take the efforts of an inspirational leader surrounded by a superb team to galvanise the efforts of the nation to meet the challenge.

I hope they realise how high the stakes are. Bring it on..

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