It was Oscar Wilde who had one of his characters say that a cynic is someone who “knows the price of everything but the value of nothing.”
Listening to the Today programme this morning that phrase came to mind, because we live under a very cynical government.
We know free school are not just a give away, they improve educational outcomes, and result in a better educated and trained and therefore paid workforce. Their value far outweighs their price.
Cutting nurses’ pay levels when there is a crisis of recruitment and retention is another example, the price is higher government spending, the value is an NHS that works. The savings are not just measured in fewer agency nurses, fewer highly trained nurses leaving and more recruitment. They also show up in reduced waiting times, fewer long term ill, quicker returns to work and a workforce able to work longer and better.
You could write an almost endless list of similar areas that need cash but will multiply that spending in more growth and higher wealth. Housing, infrastructure, apprenticeships, schools, social care, the courts, universities, railways and research.
It is no coincidence that the government has ended up with disastrous growth and productivity issues, meaning lower tax revenue and higher taxes, when it cut spending on all the things that boost growth and productivity.
That cynical short-termism has come home to roost.
Economics, trade and Brexit, not necessarily in that order but the dog always comes first.
By Jonty Bloom Media
Reminds me of, "If you think education is expensive, try ignorance".