John Redwood has today launched his new book, “After the Credit Crunch: No More Boom and Bust”. Published by Middlesex University Press, “After the Credit Crunch” is an authoritative and up-to-date analysis of the credit crunch and the events that led up to it. John Redwood’s analysis focuses on how and why the UK economy fell into the crisis, what it needs to do to escape, and how it can avoid similar problems in the future. It rebuts claims by the Labour Government that the UK’s problems are solely the result of an economic crisis that started in the United States. He argues that a series of policy and regulatory errors combined to deepen the effect of the global recession, and shows how the current crisis is an extreme example of the old fashioned boom-and-bust cycle that Gordon Brown claimed to have abolished.
“After the Credit Crunch” examines the global context of the economic crisis and illustrates the changing balance of power between commodity producers, manufacturers and consumers. He reviews all the policy areas that contribute to national competitiveness, including taxation, regulation, energy, transport, regional development and education. He expands on his previous publications, “Superpower Struggles” and “Stars and Strife”, and offers a strong defence of market based policies and low taxation in addressing the economic challenges of the 21st century.
Speaking at the launch of “After the Credit Crisis” today, John Redwood said: “We have lived through three phases of wrong policy and bad regulation. Between 2003 and 2007 interest rates were too low and banks allowed to expand too much. In 2007 and 2008 rates were too high and the money markets were starved of cash. In 2009 the UK government is failing to sort out the broken banks it owns whilst running too large a deficit. The UK has to save and export more, and has to raise quality and efficiency throughout the public sector”.
John Redwood has been the Member of Parliament for Wokingham since 1987. First attending Kent College, Canterbury, he graduated from Magdalen College, and has a DPhil from All Souls, Oxford. A businessman by background, he has been a director of NM Rothschild merchant bank and chairman of a quoted industrial PLC.
John was an Oxfordshire County Councillor in the 1970s. In the mid-1980s he was Chief Policy Advisor to Margaret Thatcher. He urged her to begin a great privatisation programme, and then took privatisation around the world as one if its first advocates before being elected to parliament. He was soon made a minister, joining the front bench in 1989 as Parliamentary Under-Secretary in the Department of Trade and Industry. He supervised the liberalisation of the telecoms industry in the early 1990s and became Minister for Local Government and Inner Cities after the 1992 General Election.
Shortly afterwards, John joined the Cabinet and served as Secretary of State for Wales from 1993 to 1995. In opposition he has acted as Shadow Secretary of State for Trade and Industry (1997-1999), Shadow Secretary of State for the Environment, Transport and the Regions (1999-2000) and Shadow Secretary of State for Deregulation (2004-2005). He stood for the leadership of the Conservative Party in 1995 and again in 1997. He is currently Chairman of the Conservative Party’s Economic Competitiveness Policy Review.
John has been a fellow of All Souls since 2003. He is currently a Visiting Professor for Middlesex University Business School and has published a number of books including “I Want to Make a Difference, But I Don’t Like Politics”, “Singing the Blues”, “Third Way, Which Way?”, “Stars and Strife”, “Superpower Struggles”, “The Death of Britain”, “Just Say No” and “Our Country, Our Currency”.
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