Optimism may be a little premature and perhaps not the most appropriate word here but the tone this article sets is a tone we simply must build on because the pessimistic news torrent from national media channels does nothing to foster the mindset we must have to bring about change in our economic situation. Whilst we in the North East are likely to be most severely hit with our higher than national average dependency on public sector employment. The North East is arguably one of the most able of all regions to thrive and prosper despite the economic woes.
Advocating and adopting the medias somewhat pessimistic tone is hugely damaging to the pubic psyche. We are all aware of the situation as we live it day in day out but what benefit is there in more dialogue about the state of the nation? Let us focus more on building a positive mindset focussed on more optimistic outcomes.
Government in surplus shocker
In January the Government was left with its highest monthly surplus in four years following a fall in local government an a rise in tax reliefs.
This meant that a net repayment of £7.75 billion, excluding financial interventions, was made last month - indicating that the Government could be on track to meet its £127 billion borrowing targets for this year.
So does this mean that austerity measures are really working? Finances in January are often in surplus due to a spike in tax reliefs, but this enormous excess amount could be indicative of the potential savings which could be made over the course of 2012. With the Budget looming in the next few weeks, this news could also provide the Chancellor with the opportunity to implement measures to support growth.
So is now finally the time for us to start feeling optimistic about the economy? Tell us your thoughts.
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Scott Galloway
